Americans have been holding on to their wobbly washing machines and sagging sofas even longer than their grandparents did 50 years ago, setting the stage for a rebound in consumer spending as old household goods wear out.
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.
“Everyone’s growing oysters,” Chris Quartuccio says over his shoulder as he paddles a neon- orange kayak across Long Island’s Great South Bay, where he’s raising some 300,000 Blue Island oysters on the shallow seafloor, 50 miles east of Manhattan. He might be right.
Research firm Muddy Waters LLC was correct to focus on NQ Mobile Inc.’s delays in collecting customers’ payments as part of an 81-page report that labeled the Beijing-based mobile service provider a “massive fraud,” according to three accounting experts.
Chinese equities rose to the highest level in two years in New York, led by Internet companies Baidu Inc. and Qihoo 360 Technology Ltd., as economic growth accelerated for the first time in three quarters.