A tipster, who works on Rodeo Drive, says Teodoro Nguema Obiang, the Ferrari-driving big spender who plunders Equatorial Guinea's oil wealth is dating a family member and just dropped $70,000 in one store on clothes for her.

One of the nastiest and longest-running feuds in fashion history has been revived. Since the mid-1980s, Ralph Lauren has been doing his damndest to prevent the U.S. Polo Association from marketing products bearing a horse-and-rider logo. It's a case that has taken the two sides to court on numerous occasions over the past 25 years, with Lauren suffering a stinging defeat in 2005 when a federal jury decided that the USPA had the right to produce a own clothing line since its logo featured two horsemen with mallets, as opposed to the solo player depicted in Lauren's version. Now the two sides are squaring off once again.

Last week we reported that mystery playboy Jho Low - the one who flies Megan Fox around and drops hundreds of thousands on champagne - was mixed up with rumored arms dealers. Over the weekend we found out more.

Sarah Palin may have invited her daughter's babydaddy to Thanksgiving dinner, but the future Playgirl centerfold will not be passing the yams with the Palins. He turned down her offer, saying she's "full of it."

Taek Jho Low, a 20-something Wharton grad has been making headlines as big-spender who drops hundreds of thousands at New York's clubs and flies starlets to Vegas. But sources now say he is a surrogate for someone more secretive.

How do you annoy the maximum number of Liberal blogs with minimal effort? If you're Fox News, all you have to do is shut down the YouTube channel that supplies them with infuriating O'Reilly Factor clips. They did this today!

Here's an important lesson to keep in mind: If the corrupt president of an impoverished African nation comes along and tells you he's going to pay you $27 million to buy a piece of land you own in Midtown, do not take him at his word. Stay skeptical, at least until you have the money in hand. Dictators, you see, tend to operate by their own set of rules; just they signed a silly piece of paper called a "contract" doesn't mean they can't change their minds later on. They can do what they want. That's one of the perks to being an autocrat!

Remember the storyline about a new Iranian revolution after the elections this summer? The one fuelled by the internet generation? The one that got the state department to intervene to help Iranians Twitter? Not so much.

Nello Balan is the owner of Nello, the exceedingly mediocre Italian restaurant on the Upper East Side. He's also one of the city's most shameless—and most notorious—publicity hounds. Balan's latest attempt at drumming up attention, however, now appears to be exploding in his face. Last week, a receipt "surfaced" indicating that Russian oligarch Roman Abramovich had spent $52,000 on lunch. (The bill was for $47,000, but TMZ, which first reported the story, said the billionaire had tacked on a $5,000 tip.) But a spokesman for Abramovich tells us the bill wasn't his and the mogul may pursue legal action against Balan for suggesting otherwise.

The New York Times broke the story of Eliot Spitzer's hooker habit last year, launching a PR shitstorm of epic proportions. But according to e-mail traffic we've obtained, the Times showed Spitzer's flacks extraordinary deference as the scandal unfolded.

It's been a busy month for Bethenny Frankel. First she got engaged to her boyfriend Jason Hoppy; then, a couple of weeks ago, she confirmed she's a little more than two months pregnant. With the Real Housewives of New York City currently filming its third season, we thought it would be worthwhile to get some parenting advice for the mom-to-be from one of her costars. So, naturally, we reached out to model-cum-designer Kelly Killoren Bensimon—a mom with two daughters of her own, Sea, 11, and Teddy, nine—to offer parenting tips for Bethenny. Kelly's advice, thoughts on women who breast-feed in public, and why she wears shorter skirts now than ever before is below. Join us, won't you?

Does riding a mechanical bull sound like a fun time? If you do decide to engage in the activity and you head over to Johnny Utahs, one of the few places in the area that has the gizmo set up for its customers, keep in mind that if you get wasted and then fall off the bucking beast and injure yourself, you probably won't get very far if you file a lawsuit against the restaurant for negligence.

Jamie Dimon, the CEO of JPMorgan, is a towering genius of finance, Obama hanger-on, savior of Wall Street, and irritable dick. He's also long liked to wear tight jeans, as his 1974 yearbook page makes clear.

Good Morning America was for years produced by ABC's entertainment division, before people got all huffy about "journalism." Now, as ABC contemplates what to do after Diane Sawyer departs for World News Tonight, it may be headed back.

Ever since McKinsey & Company finished up its three-month review at Condé Nast a few weeks ago, the publishing giant has been busy cutting costs, closing down four magazines and laying off staff at most of its remaining titles. But perhaps instead of hiring the pricey consulting firm, Condé should have traveled to the front lines to talk to one of the guys who sells magazines for a living? To gain some insight into the future of printed media and find out what sells (and what doesn't), we headed over to a newsstand on Third Avenue to chat with a kind gentleman named Naseer. You'll find his thoughts on the layoffs and career advice for unemployed journalists below.

Michael Bloomberg built his estimated $16 billion fortune thanks to Bloomberg LP, the financial news provider he founded in 1981. Thirty years later, it is now one of the most lucrative media operations on the planet. Banks and large corporations pay $1,250 a month for each Bloomberg terminal that's installed in its office. There are no discounts available and the company never engages in price negotiations. And while Bloomberg faces competition from the likes of Reuters and Dow Jones, neither company has been able to successfully dislodge the grip that Bloomberg has on the financial media marketplace. No wonder. Getting Bloomberg to cancel your monthly subscription is about as easy as getting Columbia House to stop billing your credit card for those "free" DVDs it insists on sending you every month, even after you've called the 1-800 number a dozen times to complain.

How quickly the internet coughs up wonderful things in this age of online romance. Here we have some fun Facebook messages between Salman Rushdie and his brand new love cookie, Harvard-educated model-lover Min Lieskovsky. Plus! Min's secret blog, "Mongol Whored."

Wall Street CEOs make a fortune, as you're undoubtedly aware. Even the chief executives of banks that have been bailed-out by Washington or have gone bust usually end up doing nicely. But despite the riches and perks these men have accumulated and massive egos they've developed along the way, few of them would do all that well in a beauty contest. Because it's high time that Wall Street take advantage of the miracle of modern science—and because we care, dammit—we took the liberty of contacting Dr. Anthony Youn, a board-certified plastic surgeon who has made appearances on Dr. 90210 and the Rachael Ray Show, to ask him what procedures he'd suggest these titans of finance consider if they want to look their very best. Dr. Youn's answers and cost estimates—and our commentary—is below.

Celebrity chef Todd English didn't show up for his wedding to Erica Wang earlier this month, but he was there for the fake wedding he threw on a boat in Croatia in August. We have the real fake wedding pictures!

Amy Sacco's Bungalow 8 is closed and the phone has been disconnected. But she remains insistent that she plans to reopen the onetime hotspot after she completes a round of renovations and gives the venue a new look. So is there any chance Bungalow 8 will reopen and Sacco will once again reign supreme as the "Queen of NYC nightlife"?