Manhattan's most recent attempt to re-establish itself as the home of the media elite an extravagant party to mark Time magazine's 75th birthday might have worked better if it had not given such a prominent role to Tinseltown stars such as Sharon Stone.

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Back in the event's glitzier heyday, before the sobering effects of the global financial crisis, stars such as Angelina Jolie, Sharon Stone and Michael Douglas could frequently be spotted schmoozing with the world leaders and business moguls for whom Davos is a regular date in the diary.

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