1. Elsewhere, Australia recently introduced reforms that have increased transparency around fund pricing, which has driven rapid growth in ETFs.
2. One of the few lots to sell significantly above its estimate, at Sotheby’s, was a 1780 landscape by Joseph Wright of Derby showing a cavern in the Gulf of Salerno with the figure of Julia, the banished daughter of Emperor Augustus.
3. A combination of tax increases and spending cuts in 2013 shaved about 1.5 percentage points off annual economic growth, according to the Congressional Budget Office. Many forecasters expect the fiscal drag in 2014 to be one-third that amount, or less. 'You'll have more political certainty this year,' said Gregory Daco, a U.S. economist at Oxford Economics.
4. The report ranks brands based on financial performance, its influence on customers, and its power to command a premium price or drive company sales.
5. London Fashion Week will not feature any animal fur clothes or accessories on the runway this year, making it the first fur-free major fashion week.