The Art Basel party scene in Miami is feeling the pinch. Many companies are scaling back their festivities at the cocktail and networking extravaganza, which kicks off this week. “Cartier and Swarovski are just hosting dinners this year, despite throwing marquee parties in the past,” an insider said. “Soho House has hosted an upscale soiree the past years, and they’re not doing anything major this time, either.” Even Swiss banking giant UBS AG has closed its showcase lounge in South Beach and is instead hosting a series of small dinners. Events that made the cut this year include a live performance by Justice at Mansion.