Italian fashion designers look to China for salvation Italy's top designer brands are looking to China for salvation this year with revenues falling due to a debt crisis that has cast an air of gloom as Milan Fashion Week kicks off on Wednesday.

Macy's, Saks see sales gains as shoppers trade up Department store chains Macy's Inc and Saks Inc both expect sales gains this year, helped by improving incomes for both the middle-class and well-to-do who shopped a little more during the holiday season.

NY cotton ends up, Greek debt plan lifts many marts Most U.S. cotton futures settled higher on Tuesday, rallying with other commodities, especially crude oil, and the euro as investors found relief from European officials' agreement to a debt bailout deal for Greece.

Huge rare pink diamond found in Australia Mining giant Rio Tinto said Wednesday it has unearthed a "remarkable" 12.76 carat pink diamond in Australia, the largest of the rare and precious stones ever found in the resources-rich nation.

Costume designers honor "W.E.," "Harry Potter," "Glee" "The Girl With the Dragon Tattoo," "W.E." and "Harry Potter and the Deathly Hallows Part 2" have won the top awards from the Costume Designers Guild, which handed out this awards season's last set of guild awards on Tuesday night.

Catwalks by season - Autumn Winter 2012 - 2013 - Womenswear - New York

Alice & Olivia 42 Pictures Behnaz Sarafpour 21 Pictures Bibhu Mohapatra 73 Pictures Christian Cota 33 Pictures Gant by Michael Bastian 61 Pictures Josie Natori 26 Pictures Kevork Kiledjian 88 Pictures Mara Hoffman 106 Pictures Norma Kamali 65 Pictures Sachin + Babi 100 Pictures Teatro Latea 134 Pictures Tess Giberson 70 Pictures Tribune Standard 47 Pictures VLP by Victoria Bartlett 113 Pictures Wes Gordon 32 Pictures

Catwalks by season - Autumn Winter 2012 - 2013 - Womenswear - London

Ashish 176 Pictures Peter Jensen 107 Pictures

Catwalks by season - Autumn Winter 2012 - 2013 - Womenswear - Milan

Alberta Ferretti 172 Pictures Angelo Marani 104 Pictures Elena Miro 153 Pictures Gucci 162 Pictures John Richmond 212 Pictures Kristina Ti 39 Pictures N 21 107 Pictures Simonetta Ravizza 171 Pictures