Did Exxon misplay its bet on China?

If new estimates are right, China won't import as much liquefied natural gas as once thought, leaving big energy companies -- particularly Exxon Mobil -- in the lurch.

Believe it or not, a housing shortage

Yes, even with months of inventory languishing on the market, some real-estate experts see a day coming when demand for new homes will exceed supply.

Safe plays for shellshocked investors

Fear can make settling for low returns seem almost prudent. But seeking safety doesn't have to mean accepting sorry returns, especially at this point in the market cycle.

Bribed -- to pay off credit cards

Some customers who have been chipping away at big balances are being offered cash if they'll knock down their debts faster. Could you be one of them?

Is your smart phone spying on you?

The same device that puts the world at your fingertips can be a snoop's best friend. Here's how consumers -- and investors -- can respond to the risks.

Strapped states find virtue in vice

Cities and states are investigating 'anything and everything' -- including looser restrictions on gambling, alcohol and strip clubs -- to drum up revenue.

The best banks to invest in

The post-crisis financial landscape may be confusing, but it offers more banking models to choose from -- including one that seems poised for long-term growth.

This is credit card reform?

Many cardholders are seeing higher fees and steeper interest rates. But rate hikes have slowed, and some issuers are offering their best customers longer teaser rates.

Rent a car, risk a surprise ticket

Traffic camera operator ATS gets drivers' credit card data from rental companies, so if one of its cameras catches you, an unexpected charge may pop up on your bill.

Congress overhauls your portfolio

Newly enacted financial reforms are significant for ordinary investors, who should prepare for changes in their mutual funds, brokerage accounts and stock holdings.

Deflation 'crisis' doesn't exist

The growing fear of falling prices is exactly why we need to protect ourselves from rising ones -- and the money printing that produces them.

10 stocks to watch

Texas Instruments, the nation's second-biggest maker of semiconductors, appears on an MSN Money list of recommended stocks.

Tan Lines

—Celia Ellenberg

Not Another Teen Movie

New York's young and beautiful descended on the Landmark Sunshine Cinema last night for the premiere of Twelve, Joel Schumacher's film about the darker side of privileged Upper East Side teens. In fact, many of them are in it. The cast of Twelve, based on the best-selling novel by Nick McDonell, is teeming with twentysomething actors and kids-about-town, like Liam McMullan and Zoë Kravitz, whose names you might not expect to see on a credits crawl. They were joined at the 2(x)ist-sponsored screening by Chace Crawford and Curtis Jackson, a.k.a. 50 Cent, who both play drug dealers in the movie. "It's a very New York film, but I think it's more just about kids who have access to a lot," Kravitz said, adding that her social life at the Rudolf Steiner School was hardly the substance-fueled tragedy that Twelve depicts. "I had a lovely experience. We hung out in the park and sang Sublime songs and knitted. We would buy forties of Olde English and sit on people's stoops, but that's kind of as crazy as it got." The underage party scene in Twelve is, to put it mildly, less low-key. With Crawford in the lead—and Blake Lively, Penn Badgley, and Jessica Szohr in last night's audience—comparisons to a certain TV show were inevitable. "Gossip Girl is more powdered, more glamorized. It's like a big cupcake," noted Crawford, who kept his Dolce & Gabbana suit on for the after-party at Le Bain. "This is a film about self-destruction." Still, according to Crawford's cast mate, Philip Ettinger, the teenage girls who'd crowded the set might not have appreciated the difference. "Joel bribed them with taking pictures with Chace, as long as they were quiet on set and didn't text all their friends."—Darrell Hartman

For the Birds

Waris Ahluwalia's jewelry collections are frequently avian-inspired, and last night found him co-hosting a charity event to benefit a real-life bird species. Describing his role in the Endangered Species Coalition's Party for the Pelicans at the Wooly, the designer shrugged, "I love birds. What am I gonna do, not help?" Co-hosts like Leelee Sobieski (with fiancé Adam Kimmel), Arden Wohl, and Tom Sachs felt similarly compelled. They and their guests turned out to dance, mingle, and most importantly, bid on auction items donated for the occasion, including surfing lessons from Sachs, a custom suit by Kimmel, and a magnificent birdie brooch from House of Waris. Sachs, who hosted a similar event for the Coalition last year, appreciated the party atmosphere. "It's not some big awful banquet in a hotel," he said. "This is an interesting scene happening here." He noted that many of the attendees were among the group that had made last year's benefit the most successful in the Coalition's more than 25-year history. "To be honest, with what is happening in the Gulf, people are ready to give," Sachs explained. "We need to take advantage of that." Wohl, flitting past in a silvery dress and headband, offered her agreement. "This is how people are made aware and get involved—friends telling friends," she said. "So when you leave here, go tell your friends."—Chris Wallace

Know Your Heritage: Jenna Lyons' List of Items That Never Go Out of Style

Get the Look

Up From Down Under

They may have been on the other side of the planet from their native land, but the Aussies gathered at the Crosby Street Hotel last night for the Australians in New York Fashion Foundation's summer party couldn't have looked more at ease. "We grew up with American TV, American accents, American ways. When we come to America, it isn't a culture shock," offered Melissa George. Still, actors and models have been more successful than designers at rising into the international spotlight from down under, which is why Julie Anne Quay and Calvin Klein's Malcolm Carfrae formed AINYFF in the first place. Each year, the organization arranges for talented Aussie fashion prospects to come further their careers in the Big Apple. Last year's first-prize winner, Georgia Lazzaro, is nearing the end of her internship at Narciso Rodriguez and had dressed George for the evening in a backless jumpsuit of her own design. "Australia has a very nurturing industry. I'm not saying it's easier to establish yourself there, but it is kind of a case of big fish in a little sea," explained the 25-year-old designer. Francisco Costa, just back from vacation on the Greek island of Kea, was palming a strip of raffle tickets. Fashion, he admitted, isn't necessarily something he associates with Australia. "I think kangaroos!" But that may soon change: Lazzaro moves over to Calvin Klein after fashion week. "She has a great portfolio," Costa said. "I can't wait."—Darrell Hartman

Cat Scratch Fever

—Matthew Schneier

Laser-Cut Accessories

Léon Bing: No Country for Old Men

Rip It Up

The Hotness

The tiki torches were lit, the Champagne was flowing, and the cocktail-hour entertainment was covered in head-to-toe paint. For its 17th annual summer benefit, the Watermill Center threw an alfresco party with an Italian title, Paradiso, and a Fellini-esque mood. It started with a transporting climb up saw grass-lined steps, past costumed "snow monkeys" handing out samples of a scent that perfumer Loc Dong had created for the occasion. Beyond the wide courtyard, guests including Calvin Klein, Marisa Berenson, and Amanda Hearst toured installations of silver-painted performers and a violinist perched up in a tree. "It's like walking into a temple, after getting out of your car and away from your GPS," Elise Øverland noted. In line with that Paradiso theme, more than a few guests wore angel's wings. But apparently, nature didn't get the memo—it was hot as you-know-what. "We started to get bitten by mosquitoes, so it was a quick walk through the woods," Klein reported. Later, Sharon Stone interrupted her hosting duties during dinner to announce that a bug had flown up her dress. "What an awkward moment—for the bug," she quipped. Stone auctioned off works by Marina Abramovic and Donald Judd and got Alec Baldwin to shell out $50,000 for a private performance by Rufus Wainwright, who had belted out an a cappella version of "Somewhere Over the Rainbow" to get the bidding going. That was more than anyone was hearing from Terence Koh, who indicated with his fingers that he was on day 35 of his vow of silence. But with 600 guests packing the dinner tent, there was more than enough buzzing to go around.—Darrell Hartman

Fall 2010 Trend Reports

Alexa Chung, Anh Duong, L'Wren Scott, and more...

Armani Privé Fall 2010 Couture

Updos to Beat the Heat

—Celia Ellenberg