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Morgan Stanley

  • Morgan Stanley to cut another 3,000 jobs as banking layoffs continue

    BANKING

    Morgan Stanley is reportedly set to cut thousands of  jobs before the midway point of the year, as the largest round of banking layoffs since the financial crisis looks set to continue. The bank is looking to lay off 3,000 staff, Bloomberg reported, representing about five per cent of the bank’s staff. They are expected [...]

  • CBI exodus: Which firms have quit or suspended their relationship with the lobby group?

    CBI crisis

    A slew of top firms have quit or suspended engagement with the CBI today after the lobby group was rocked by new allegations of sexual abuse.

  • Morgan Stanley boss talks down banking crisis as deal-making slump hits profits

    Banks earnings

    Morgan Stanley’s chief executive James Gorman told analysts “we are not in a banking crisis” as he discussed the bank’s first quarter earnings.  Gorman dismissed concerns that the US banking sector could face a widespread banking crisis, saying conditions were very different to 2008 and that the largest US banks were now part of the [...]

  • Crisis, what crisis? Interest income boosts US banks as boon expected to continue

    April 16, 2023

    The largest US banks appear in rude health despite concerns about the wider financial sector as higher interest rates continue to boost lenders.  JP Morgan, Citi and Wells Fargo all beat expectations when they released results for the first quarter on Friday. In response, analysts at UBS wrote “crisis, what crisis? The banking industry flexes [...]

  • Deposits in focus as US banks line up to report amid banking volatility

    April 12, 2023

    The largest banks on Wall Street will start reporting their first quarter earnings later this week with investors set to pay very close attention to banks’ deposits. So far this year, huge amounts of money have flowed into higher-yielding money market funds from bank deposits.  This picked up in March after the collapse of Silicon [...]

  • Experts question whether Morgan Stanley’s $1m Whatsapp spot fines will work

    January 26, 2023

    Morgan Stanley has hit some of its bankers with heavy fines for conducting official business on Whatsapp, the Financial Times reported today. But experts have questioned whether dishing out penalties to the bank’s staff really solves the problem of keeping bank’s internal communications in line with financial regulators’ expectations. Depending on the seriousness of the [...]

  • Morgan Stanley profits nearly halve as US bank earnings season ends without cooling recession fears

    January 17, 2023

    Wall Street banking giant Morgan Stanley’s profits have nearly halved due to intense US recession fears and rising interest rates chilling deal making activity, the firm announced today. The lender has become the latest casualty of businesses and investors parking their money in safer places to ride out the worldwide economic slowdown. Morgan Stanley’s profits [...]

  • Wall Street banks shed staff as global slowdown bears its teeth

    December 7, 2022

    Wall Street banks are laying off workers to offset the damage inflicted on their finances by a slowing global economy. US lender Morgan Stanley yesterday became the latest firm to announce redundancies, shedding two per cent, or around 1,600, of its workforce. Goldman Sachs earlier this year also slashed staff and its chief executive, David [...]

  • Morgan Stanley cuts two per cent of jobs in ‘modest’ cull – reports

    December 6, 2022

    Morgan Stanley is set to cut about two per cent of staff according to CNBC sources. It comes after chief executive James Gorman said last week that the investment bank would need to make ‘modest’ job cuts as sluggish markets weigh on profits. “Some people are going to be let go,” Gorman said at the Reuters NEXT conference, [...]

  • Millions face difficulty paying mortgage if rates hit six per cent, says Morgan Stanley

    October 24, 2022

    Millions will face difficulties paying their mortgages if rates hit six per cent, a research note issued by Morgan Stanley has warned. The US bank said there is “significant stress” building in the UK’s mortgage market, as house prices spiral out of control and the Bank of England seeks to tame rising inflation. Last week, [...]

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