A jewel thief wanted in connection with crimes committed from Florida to South Korea stole a diamond ring worth $255,000 (€237,000) from a Tiffany store in New York by switching it with a cubic zirconia replica, authorities have said.

An electrical fire in a transformer that serves the Tiffany & Co store on New York’s Fifth Avenue spewed thick grey smoke from under the famous building on Thursday and caused two minor injuries, officials said.

As the dominant purveyor of luxury goods, LVMH benefited from its range of products, from €1,000 Louis Vuitton Tattoo boots to Tiffany engagement rings

The largest deal in luxury is back on after New York jeweller Tiffany agreed to a slightly reduced offer from Paris-based LVMH. LVMH will now pay 131. 50 dollars (£100) for each Tiffany share, putting the total price tag at 15. 8 billion dollars (£12.