New York City loses $1 billion a year in tax money thanks to counterfeit goods being sold on its streets. At least that’s what one City Council member is saying to help promote her bill that would have police arresting those who buy the products as well as the those who sell them, according to the Associated Press.

The plan, which will be addressed at a public meeting on Thursday and is expected to come to vote in the next few months, is to have the buyers of fake Pradas, Chanels and other luxury goods either fined $1,000 or put in jail for a year.

Mayor Michael Bloomberg’s administration is planning to oppose the bill, the New York Post reports, because the size of the fine would keep tourists from buying pretty much anything. Plus, it wouldn’t be good PR to have images of tourists in jail floating around.Continue reading...

BMW is investing 3 billion euros in EVs and marketing. 

AP execs outraged over government probe of phone records.

Sony is targeted for breakup by American investor.

Airbus aims to steal limelight from Boeing at upcoming Paris Air Show.

Amazon workers go on strike in Germany.

BNP Paribas eyes mobile and online banking.

Citibank says "no fees" means "never."

Coach approached Tory Burch about a deal.

Coca-Cola faces claim that Coke top-secret recipe has been found.Continue reading...

Apple loses iPad Mini trademark, and finds a fan in Kim Jong-un as North Korea rattles saber and tensions rise with U.S., while increased China headaches include hacking threat and iPad regulation.

Discovery Communications expands global channel reach and launches scripted programming.

Novartis loses cancer drug patent battle in India.

Amazon buys Goodreads community-driven user reviews website.

AMC reveals new tagline and logo.

Armani hires Cate Blanchett for $10M campaign.

AT&T scores with March Madness Twitter campaign.Continue reading...

Michael Kors may very well be the most influential person in New York fashion—or at least the one with the most business prowess. 

The brand was just named the most-searched American fashion brand worldwide, beating out prominent names like Marc Jacobs, Ralph Lauren and Calvin Klein in a study by Digital Luxury Group.

Launched in the early 80's, the designer's clothing and accessories company continues to beat Wall Street expectations and reel in more HENRYS, or "High Earners Not Rich Yet" shoppers, with fashionable yet accessible handbags, watches and sportswear. Rightfully so, the designer's Fall 2013 collection debuted at New York Fashion Week with a survival theme, perhaps a reflection of its leading man's reputation in the industry. 

Arguably the new Coach, Kors claimed market share from its rival accessories manufacturer after the holiday shopping season. Coach has seen a slowdown as of late, with competitors like Tory Burch and Kate Spade—both of which appeared in the most-searched top 10—taking a strong stand in the luxury goods market.Continue reading...

Not long ago, Coach was the name to have on your handbag. Plenty of celebrities were walking around with them. Gwyneth Paltrow, Eva Longoria, and Jennifer Garner all had one, as did many other American women, whether the real thing or at least a knockoff.

Things changed fast. Now Coach is feeling pressure from competitors like Michael Kors, Ralph Lauren, and Tory Burch. It announced that sales dropped in the 2012’s final quarter despite the busy holiday shopping season and an overall 10 percent growth in the handbag market, marking the first time since it went public in 2000 that “North American sales grew more slowly than the broader market for women's handbags and accessories,” according to The Wall Street Journal. And North America accounts for two-thirds of the company’s sales.

So Coach says it's branching out, attempting to turn itself into a lifestyle brand — and turn itself around in the process. It will grow its footwear line this year before focusing on women's apparel, jewelry and watches, British Vogue reports. And its stores will also get a new look, Women's Wear Daily reports.Continue reading...

Kia names first non-Korean as president and integrates Google Maps.

Avis to acquires Zipcar brand for $500 million.

Nivea woos investors as CEO admits Rihanna was the wrong brand ambassador and brand returns to NYC's Times Square as New Year's Eve event sponsor.

Amazon apologizes for Christmas Eve outage.

American Girl's 2013 Girl of the Year doll addresses U.S. arts education cuts.

Apple sees its store in Paris robbed.

BBC Worldwide appoints chief brands officer.Continue reading...

KitchenAid apologizes for anti-Obama tweet during presidential debate, the most-tweeted event in US political history, which saw Mitt Romney gain the upper hand on Barack Obama. Romney's anti-PBS comment on Big Bird also took over social media, while "Walmart mom" is the new soccer mom. The campaigns, judged the most negative in recent times, inspire JetBlue to offer chance to pull an Alec Baldwin and leave the country after election result.

HP warns about grim outlook, sending shares to lowest level in almost a decade.

Facebook passes one billion users with plans to charge to promote user posts, while Twitter measures brand impact with Nielsen.

Amazon now offers loans to small businesses.

American Airlines pulls 47 jets after loose-seat debacle as image suffers.

Apple rumors of smaller iPad persist as the #2 Best Global Brand earns kudos for admitting maps screw-up.Continue reading...

President Obama has returned to e-commerce and haute couture with Runway to Win, a collaborative campaign merchandise fundraiser pegged to the kickoff of New York Fashion Week. As fashionistas rev up for the Fall 2012 collections, designers and Dem supporters have been rallying to raise money, chicly, for the president's re-election campaign.

The collection features patriotic clothing and accessories, moderately priced from $45 to $95, from top designers including Tory Burch, Rachel Roy, Derek Lam, Beyoncé and Tina Knowles, Marcus Wainwright and David Neville, Proenza Schouler's Jack McCollough and Lazaro Hernandez, Diane von Furstenberg, Narciso Rodriguez, Vera Wang, Thakoon, Jason Wu, Grace Tsao-Wu and Laura Kofoid of Laudi Vindi, Marc Jacobs and Tracy Reese.Continue reading...