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News Tag: Morgan Stanley

July 21, 2011

Morgan Stanley shares rise after strong Q2 results

by Kay Mitchell
”Morgan
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 bank made a net loss of ...




April 21, 2011

Morgan Stanley posts 48% fall in Q1 profit

by Kay Mitchell
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. Net income was down 50% ...




October 18, 2010

RBS looking to sell Spanish commercial property portfolio

by Kay Mitchell
”RBS
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 the billions of pounds in ...




July 21, 2010

Morgan Stanley shares up on results

by Kay Mitchell
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 last year. Chief executive James Gorman said: "While ...




May 14, 2010

US banks under investigation

by Kay Mitchell
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 Bank, Credit Agricole and Merrill Lynch (the latter ...




March 29, 2010

US Government to sell Citigroup stake

by Kay Mitchell
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) at current market rates. Morgan Stanley has been ...




February 25, 2010

Morgan Stanley chairman says bankers are overpaid

by Kay Mitchell
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 of $800,000 last year. Mr Mack, ...




October 20, 2009

Morgan Stanley sells loss-making division

by Kay Mitchell
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, making it Invesco’s largest shareholder. The sale ...




February 1, 2009

2,000 jobs to go at Morgan Stanley

by Kay Mitchell
”2,000
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 advisers, who are paramount to the bank’s ...




December 17, 2008

Morgan Stanley announces Q4 loss of $2.2bn

by Kay Mitchell
”Morgan
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 $2.12 billion (£1.41 billion). However, the ...




September 22, 2008

Mitsubishi acquires stake in Morgan Stanley

by Kay Mitchell
”Mitsubishi
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 approval to convert themselves into traditional bank ...




Goldman Sachs and Morgan Stanley abandon investment bank status

by Kay Mitchell
”Goldman
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 collapse of banking ...




September 21, 2008

Morgan Stanley holds talks with Wachovia and CIC

by Kay Mitchell
”Morgan
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 Merrill Lynch. Investors panicked ...




September 18, 2008

Fears for the future of Goldman Sachs and Morgan Stanley

by Kay Mitchell
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 after announcing it had ...




April 18, 2008

Negative equity haunts 1.2 million homeowners

by Gill Montia
”Negative
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 repossessed and left with thousands of pounds worth ...