Cyrus Mistry, chairman of Tata Sons Ltd., is writing down the value of some of the $15.5 billion assets purchased by his predecessor over two decades to boost the allure of India’s biggest corporate group.
The former chairman of Egypt’s Bank of Alexandria was held overnight at New York’s Riker’s Island jail complex after being arraigned in Manhattan on charges of sexually abusing a maid at the Pierre Hotel in New York.
“He couldn’t crawl,” said former Fed chairman Paul Volcker of his son, James. He fought back tears as he went on: “We wondered. We thought: What’s the matter? And then we were told with no uncertainty he had cerebral palsy.”