Diamonds' Two New Best Friends

The New York Times reported today that De Beers diamondcompany and LVMH-Moet Hennessy Louis Vuiton, the Paris-based luxuryretailer, have formed a new retail venture that will open stores inmajor “luxury” cities under the De Beers name. The Kimberley, SouthAfrica-based De Beers had been barred from doing business directly inthe U.S. because of antitrust violations and was seeking a way out ofthe legal stalemate.