CANBERRA (Reuters) - Parents used to save for their children’s weddings but now there’s another major rite of passage to fund before they even leave home — the school formal or prom, a booming industry which seems recession-proof.
Parties or balls to celebrate the end of school have become increasingly glitzy affairs in a list of countries from Britain, to Singapore, to India and Australia, emulating U.S.-style proms glamorized in the hit Disney movie “High School Musical” and the TV series “Gossip Girl. Read more at www.reuters.com | 
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