Tag: Morgan Stanley

Morgan Stanley shares rise after strong Q2 results

Morgan Stanley shares rise after strong Q2 results

Wall Street banking giant Morgan Stanley has today reported a rise in quarter two revenues – beating forecasts. The US bank reported a 17% rise in revenues for the three months to the end of June totalling $9.3 billion (£5.7 billion) – up from $8 billion in the same period a year ago. However, the […]

July 21, 2011 More
Morgan Stanley posts 48% fall in Q1 profit

Morgan Stanley posts 48% fall in Q1 profit

US banking giant Morgan Stanley has today announced first quarter profit fell 48% on an annual basis – primarily due to a $655 million pre-tax loss from its joint venture with Mitsubishi UFJ Financial Group. However, the fall was much less than analysts had forecast and shares rose 3.5% in early trading as a result. […]

April 21, 2011 More
RBS looking to sell Spanish commercial property portfolio

RBS looking to sell Spanish commercial property portfolio

The Royal Bank of Scotland (RBS), which is 83% owned by the taxpayer, is understood to be looking at selling a £1 billion Spanish property loan portfolio, as it looks to offload unwanted assets. The speculation comes as the bank has been selling assets under the orders of the European Commission, as a punishment of […]

October 18, 2010 More
Morgan Stanley shares up on results

Morgan Stanley shares up on results

US banking giant Morgan Stanley has today reported its second quarter results with net profit totalling $1.4 billion (£917 million), compared with a loss of $138 million in the same period a year ago. The Wall Street firm also said it saw a 53% increase in revenues of $7.95 billion compared with the same period […]

July 21, 2010 More
US banks under investigation

US banks under investigation

Eight Wall Street banks are facing an investigation following allegations that they provided misleading information to several ratings agencies in order to gain a better rating for mortgage securities. New York Attorney General, Andrew Cuomo, has launched the investigation and the banks under scrutiny are Goldman Sachs, Morgan Stanley, UBS AG, Citigroup, Credit Suisse, Deutsche […]

May 14, 2010 More
US Government to sell Citigroup stake

US Government to sell Citigroup stake

The US Treasury Department has today announced it is selling its 27% stake in Citigroup this year, in what will be one of the largest stock sales ever. According to the department, around 7.7 billion shares in the bailed-out bank will be sold in stages. The stock is currently worth around $33 billion (£22 billion) […]

March 29, 2010 More
Morgan Stanley chairman says bankers are overpaid

Morgan Stanley chairman says bankers are overpaid

The controversial subject of bankers’ pay has reared its ugly head again today after the chairman of US banking giant, Morgan Stanley, John Mack, said investment bankers are overpaid. Sixty-five-year-old Mack, who recently stepped down as chief executive but remained chairman, has not taken a bonus for the past three years but received a salary […]

February 25, 2010 More
Morgan Stanley sells loss-making division

Morgan Stanley sells loss-making division

Morgan Stanley has struck a deal with investment manager Invesco which will see the US bank sell its retail asset management business for $1.5 billion (£913 million) in stock and cash. The purchase price includes $500 million in cash and $1 billion in stock. Morgan Stanley is to acquire a 9.4% equity stake in Invesco, […]

October 20, 2009 More
2,000 jobs to go at Morgan Stanley

2,000 jobs to go at Morgan Stanley

US bank Morgan Stanley is set to eliminate further job losses this month. According to The Times, around 2,000 back-office jobs are set to go from its global workforce of 47,000. Last year, the bank cut around 10% of its workforce. It is believed that the 2,000 job losses will not affect the company’s financial […]

February 1, 2009 More
Morgan Stanley announces Q4 loss of $2.2bn

Morgan Stanley announces Q4 loss of $2.2bn

US investment bank Morgan Stanley has announced a loss of $2.19 billion (£1.41 billion) for the three months ended November 30. The news follows that from Goldman Sachs who yesterday reported its first loss since it floated almost a decade ago. Goldman said that losses during the three months to the end of November hit […]

December 17, 2008 More
Mitsubishi acquires stake in Morgan Stanley

Mitsubishi acquires stake in Morgan Stanley

Shares in Morgan Stanley increased today after the news that Japan’s largest bank, Mitsubishi UFJ Financial Group, is to pay $9 billion (£4.8 billion) for a stake of up to 20% in the bank. The news follows the announcement earlier today that Morgan Stanley, along with Goldman Sachs, have changed status and have received regulatory […]

September 22, 2008 More
Goldman Sachs and Morgan Stanley abandon investment bank status

Goldman Sachs and Morgan Stanley abandon investment bank status

The remaining two independent investment banks on Wall Street, Goldman Sachs and Morgan Stanley, have changed status and have received regulatory approval to convert themselves into traditional bank holding companies. The surprise declaration was announced by the Federal Reserve at 2.30am London time today and follows an historic week on Wall Street after last week’s […]

Morgan Stanley holds talks with Wachovia and CIC

Morgan Stanley holds talks with Wachovia and CIC

According to Reuters, US investment bank Morgan Stanley is in talks with Wachovia and China Investment Corp (CIC) about a possible takeover or an investment opportunity. Last week, shares in Morgan Stanley plummeted after the collapse of Wall Street giant, Lehman Brothers, the rescue of US insurance giant AIG and Bank of America’s takeover of […]

September 21, 2008 More
Fears for the future of Goldman Sachs and Morgan Stanley

Fears for the future of Goldman Sachs and Morgan Stanley

The remaining two independent investment banks on Wall Street are today surrounded by merger speculation after shares in the two organisations plummeted over recent days. Despite assurances from Goldman Sachs and Morgan Stanley, investors have still abandoned ship. Monday saw the collapse of Wall Street giant, Lehman Brothers, which was forced to file for bankruptcy […]

September 18, 2008 More
Negative equity haunts 1.2 million homeowners

Negative equity haunts 1.2 million homeowners

Morgan Stanley, the investment bank, is predicting that UK house prices will fall 15% over the next two years, leaving 1.2 million homeowners in negative equity. For anyone in negative equity, mortgage debt exceeds the value of their home, making it difficult to move. Homeowners who fall into arrears with their mortgage payments can be […]

April 18, 2008 More