Morgan Stanley’s first-quarter results just beat expectations April 20, 2015 Morgan Stanley has followed in the footsteps of rivals Goldman Sachs and JP Morgan with a better-than-expected set of first quarter results, which further signal the revival of the struggling investment banking sector. It said net income jumped to $2.31bn (£1.55bn) in the first quarter of 2015, compared to $1.45bn a year earlier. This works [...]
Morgan Stanley’s finance boss heads to Google to cut the fat March 24, 2015 GOOGLE’S boundary-pushing projects and famed offices – which can include gyms, pools, music rooms and free restaurants – could face an expenses squeeze, with the appointment of its new chief financial officer. Google yesterday said it hired Ruth Porat, chief financial officer at Morgan Stanley, to its top finance role, a move signalling the tech [...]
Google just hired Morgan Stanley finance chief Ruth Porat as its new CFO March 24, 2015 Google has named a replacement for departing finance chief Patrick Pichette. Ruth Porat will leave her role as finance chief at Morgan Stanley to fill Pichette’s shoes after the long-standing executive revealed he was departing the internet giant just under two weeks ago. Investors responded positively to the news – shares were up by around [...]
Morgan Stanley possible target for lawsuit over OW Bunker float March 5, 2015 MORGAN Stanley is one of the banks that could be sued by the Danish Shareholders’ Association (DSA) over the disastrous initial public offering (IPO) of OW Bunker in March 2014. The Danish marine fuel company, which was originally valued at $1bn (£656m), was rocked by scandal in November 2014 when it revealed it was facing [...]
Cushman & Wakefield calls in Goldman Sachs and Morgan Stanley to seek £1.3bn sale February 25, 2015 Real estate giant Cushman & Wakefield has called in bankers at Goldman Sachs and Morgan Stanley to seek a private sector buyer, it was reported this morning. Property industry bible Property Week reported that the group could be sold for as much as £1.3bn. The company had been subject to rumours it could merge with rivals [...]
Quindell share price jumps 8.3 per cent as Morgan Stanley increases stake February 16, 2015 Shares in Quindell jumped more than eight per cent to 74.25p in mid-afternoon trading, after Morgan Stanley increased its stake to more than five per cent. Shares in the insurance claims processor lost more than 90 per cent of their value last year, after the company was accused of having "magical… paper profits" by mysterious US-based [...]
Great Ormond Street Children’s Hospital wins Morgan Stanley contest February 10, 2015 Morgan Stanley has announced that Great Ormond Street Children’s Hospital will become its new charity partner, after a vote by their 5,000 London employees. The bank aims to raise £1.5m over the two year partnership. Employees will raise £750,000, which will be matched by the Morgan Stanley International Foundation. The money will be used to [...]
Majority Songbird shareholders Glick, China Investment Corporation and Morgan Stanley back £2.6bn Canary Wharf bid by Qataris January 28, 2015 Three major shareholders of Canary Wharf owner Songbird intend to accept a takeover offer from the Qatari sovereign wealth fund. Songbird has said it understands its three largest shareholders, not including the Qatari group which already holds a 28.6 per cent stake in the firm, intend to accept the offer of 350p per share made [...]
Tesco share price rises as much as two per cent after Morgan Stanley upgrades it to “overweight” January 19, 2015 Tesco's share price rose as much as two per cent after its turnaround plan was given the thumbs-up by Morgan Stanley, which upgraded it to "overweight" from "equal weight" this morning. The embattled retailer's ability to improve its profit margins is being underestimated by the market, according to analysts at the investment bank. "We believe [...]
Morgan Stanley share price drops as bank sacks wealth arm data thief January 5, 2015 A wealth management banker stole clients’ data and posted it online, US investment bank Morgan Stanley admitted yesterday. It sacked the worker responsible and called law enforcement authorities. Shares in the bank fell further than those in the rest of the sector on the announcement, as regulators are increasingly keen to make sure financial institutions are [...]