Morgan Stanley profits jump as investment banking surges and trading holds up October 16, 2018 Morgan Stanley today reported profits well above expectations on Wall Street as its equity underwriting revenues surged and it avoided the trading weakness experienced by some rivals. Net income rose by 17 per cent to $2.1bn for the quarter, driven by a 26 per cent jump in profits in Morgan Stanley's institutional securities arm, which [...]
Shares in Burberry fall as Chinese appetite for luxury goods slows October 10, 2018 Shares in Burberry dropped over eight per cent Wednesday after Morgan Stanley downgraded the luxury goods sector over worries of a slowdown in the Chinese market. Chinese consumer confidence has peaked, the bank said, and consumption trends will likely slow further in the second half of the year before a slight upswing in 2019. Read [...]
Sky’s the limit: Dramatic auction between Comcast and Fox nears its conclusion September 22, 2018 The dramatic fate of Sky is nearing its finale, as a £26bn head-to-head auction between two of the world’s most powerful media companies enters into its final few hours. Comcast is battling it out with Rupert Murdoch’s 21st Century Fox and its powerful soon-to-be owner Disney in a rare auction, which includes up to three [...]
Carlyle Group to buy insurance service Sedgwick for £5.1bn September 12, 2018 Private equity firm The Carlyle Group has acquired US insurance claims service provider Sedgwick for $6.7bn (£5.1bn). Current majority shareholder KKR will exit the group and Stone Point Capital, CDPQ and Sedgwick management will remain minority shareholders when the deal coses later this year. Read more: Plastic packaging giant RPC confirms buyout talks with Apollo and Bain [...]
Lansdowne bosses and Morgan Stanley pocket £190m payday August 16, 2015 HEDGE fund Lansdowne Partners paid out more than £190m to staff and top shareholder Morgan Stanley last year, fresh accounts show. The UK-based group reported revenue of £250m between November 2013 and March 2015 and profits of £243.6m – £191.2m of which was distributed to the firm’s 20 members. One of the firm’s so-called members [...]
City slickers from Goldman Sachs, Morgan Stanley and Moore Capital take to the high seas for charity June 23, 2015 While some like to spend their holidays on a beach, cocktail in hand, London’s traders and analysts clearly like adventure. So it is that teams from Goldman Sachs, Morgan Stanley and Moore Capital are set to row across the Med next month. Saddle sores, aches, bruises and blisters in unfortunate places await them, as they [...]
The banks which pay the biggest bonuses: Goldman Sachs, Morgan Stanley, Bank of America, JP Morgan and Citi May 27, 2015 US banks are paying their London staff a higher bonus on average than their UK counterparts. Goldman Sachs, Morgan Stanley, Bank of America, JP Morgan and Citi took the top five spots of a new survey by salary benchmarking website Emolument, while British-based banks HSBC and Barclays came eighth and 11th respectively. While there's no official data on banker [...]
Morgan Stanley fined $2m for incorrectly reporting short-selling positions May 13, 2015 US investment bank Morgan Stanley was yesterday fined $2m for incorrectly reporting its short-selling positions over a period of more than six years. Regulator Finra requires banks to report their short positions, to provide investors with transparency over activity in the marketplace. But Morgan Stanley failed to do this, and failed to implement a system designed [...]
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 [...]