China outcompetes the US in smartphone industry

Source: Marketwatch
© Scanpix/Reuters

Despite the reported contraction in manufacturing output China overtakes the US in the smartphones industry. More than 24 million smartphone shipments were performed in China in Q3. The amount exceeds those in the US by one million. However, considering the amount of revenue generated the US still retains the leading position in the sector.

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Wed, 23 Nov 2011 13:44:11 GMT

Focus Media Holding Ltd refutes allegations of Muddy Waters

Focus Media Holdings Ltd was accused by Muddy Waters of deliberately overpaying for takeovers in order to overvalue its assets. After allegations Nasdaq-listed shares of Focus Media Holdings dropped by 66 cents to $15.43 being 52-week low. However, Focus Media Holdings denies the accusations and plans to take legal action against Muddy Waters.

Wed, 23 Nov 2011 13:33:20 GMT

Canada's retail sales increased

Canada's core retail sales exceeded expectations, according to official sources. Core retail sales excluding automobile sales increased by a seasonally adjusted 0.5% while the projected increase was 0.4%. Total retail sales also increased by 1% in September being higher than 0.5% expected, according to report of Statistics Canada.

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