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Bogus motors and thrifty Kings. In the papers: 29.02.08

Thomas Krens, the man who made the Guggenheim into a global brand, is to step down, writes the Guardian . Krens, who has been director of the museum for the past 20 years, pioneered the 'Bilbao effect' with his commissioning of Frank Gehry to design the Spanish outpost – a feat he wants to replicate with a another Gehry creation in Abu Dhabi, due for completion in 2012.

But development on the back of fame is not always favourable, as Lakshmi Mittal, one of the world's richest men, will testify. The Telegraph reveals that Mittal has decided to sell his home on 'Billionaires' Row', Bishops Avenue in Hampstead, north London, after Barratt Homes was granted permission to build flats next door.

The 'Not in my back yard' mentality will soon be a thing of the past in Italy if the country's Democratic party has anything to do with it. The Financial Times reports that 'No to Nimbys' is one of the party's slogans for its campaign as Italy heads towards snap elections in April.

Italy also makes the news in The Times , this time for cornering the market in counterfeit Ferraris. Police have broken a ring of mechanics who have transformed regular motors into replicas of the famous brand.

If you were duped into buying a fake, don't park it illegally – The Times also reports on the replacement of parking attendants with CCTV. In an announcement from the government yesterday, 'remote enforcement' will become the order of the day, with councils being able to use CCTV cameras to identify parking offences.

The King of Nepal has run out of options when it comes to paying his electricity bill – all £442,000 of it. King Gyanendra faces being cut off if he doesn't pay up, says The Times , after government officials said they stopped paying his utility bills in 2006 when a democratic uprising forced the king to relinquish direct rule.

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