London

Some say hemlines and heels rise and fall with the state of the sharemarket. But for those who really want to know how bad things are there is only one item that counts: lipstick.

When times are tough, consumers stop spending on big-ticket items. Car sales are down by a third; the drop in demand for mortgages has taken its toll of spending on carpets and furniture.

But, according to one economist, rather than lose the spending habit consumers simply trade down to less extravagant items to cheer themselves up. What’s more, this effect has held good in recessions of the past and in countries with different cultural traditions.

NEW YORK (Reuters Life!) - Short of gift ideas for that person who really does have everything? Then how about an underwear repair kit or maybe a Barack Obama “Yes, We Can” can opener?

Web site Stupid.com, which claims finding a truly stupid gift is an art form, on Tuesday unveiled its second annual list of the top 10 “stupidest” holiday gifts for 2008.

“2008 might have been a bad year for the economy, but it was a great year for stupidity,” said Stupid.com’s founder Gary Apple. “Weird products seemed to come out of the woodwork this year. There was almost too much stupidity to choose from!”

 As scare subsides and sales banlifted, AVA tackles future imports

Neo Chai Chin
chaichin@mediacorp.com.sg

THE final batch of China-made milk products was released for sale by the Agri-food and Veterinary Authority (AVA) yesterday after they were tested to be safe for consumption, closing a chapter in the melamine contamination scare that led to their sale and import ban since Sept 19.

The phased release of such products by the AVA began earlier this month and yesterday, the remaining categories - biscuits and crackers, liquid milk, ice-cream, milk and whey protein products - were given the all-clear, save for six tainted biscuit products. In all, 327 products have been released for sale.

(Reuters) - Following are some key facts about Japan’s Canon Inc (7751.T: Quote, Profile, Research, Stock Buzz).

* HISTORY:

– Canon’s predecessor, Precision Optical Instruments Laboratory, was founded in 1933. In 1934 the company produced a prototype of the Kwanon, Japan’s first 35mm focal-plane shutter camera and named after the Buddhist Goddess of Mercy. In 1935 it filed to register the Canon trademark.

– In 1947 Japan’s government designated Canon cameras priority exports as the country resumed exports after World War Two. Its shares were listed on the Tokyo Stock Exchange in 1949.

Women exposed to hairspray during pregnancy put their unborn sons at risk of suffering from a birth defect, scientists have warned.

By Richard Alleyne, Science Correspondent

Researchers found that women who come into contact with the hair product during early pregnancy more than double their chances of giving birth to a son with hypospadias, a genital deformity.

The defect normally affects around one in 250 boys in the UK, causing the urinary opening to be shifted beneath the penis.

Although it can be corrected by surgery before a boy’s first birthday, more severe cases can lead to urinary, sexual and fertility problems.