For Buffett, Best Suits Are Made in China

Leaders also discuss North Korea

(NEWSER) - Japanese Prime Minister Yoshihiko Noda met with Chinese President Hu Jintao in Beijing today, and emerged with a number of deals—including one that will marginalize the US dollar in Asia. The countries agreed to promote direct yuan-yen trades, the Wall Street Journal reports; until now, the money has usually been converted to dollars first. Japan will also hold yuan in its typically dollar-dominated foreign-exchange reserves. More»

$63,000 worth goes missing in London ... but duplicates exist

(NEWSER) - On a ritzy street in London earlier this week, thieves snatched about $63,000 worth of high-end fashion wear from the Marc Jacobs Spring 2012 collection. The stolen items include clothing, shoes, and handbags that had been showcased on a New York runway back in September, reports the Wall Street Journal . The label has duplicates, and the theft should not affect delivery orders to retail stores. But it had to cancel an upcoming "press day" in London, where fashion editors and journalists could view the collection up close. More»

German designer makes eco-friendly clothes from drink

(NEWSER) - For the fashion industry, cows provide more than just leather. Combining her knowledge of biochemistry and clothing design, a German designer has begun making clothes from a textile that’s made of pure milk, the AP reports. It feels like silk, is as washable as cotton, and is good for the environment—and on top of that, it’s great for those with sensitive skin. Anke Domaske aims to start mass-producing the material, called Qmilch, next year. (The process involves reducing milk to a protein powder that gets boiled and pressed into strands that are woven into fabric, writes Melissa Eddy.) More»

... Mark Zuckerberg cracks the top 10

(NEWSER) - When it comes to the world’s 5 most powerful people, Forbes doesn’t offer many surprises. Barack Obama heads the pack, with other world leaders in the next three spots. The full list of 70 powerhouses, however, does offer some food for thought: Mark Zuckerberg (9), for example, is almost as powerful as the pope (7) and more powerful than British PM David Cameron (10). Bill Gates is No. 5, while new Apple CEO Tim Cook is way down at 58; no posthumous place for Steve Jobs. More»

His $59B tops Warren Buffett's $39B

(NEWSER) - Forbes is out with its annual ranking of the richest Americans, with some familiar names up top. Highlights from the magazine and MSNBC :

1. Bill Gates, $59 billion
2. Warren Buffett, $39 billion
3. Larry Ellison (Oracle), $33 billion
4. (tie) Charles Koch, $25 billion
5. (tie) David Koch, $25 billion