The firm Morgan Stanley Smith Barney was fined $1.5 million for technical failures including a broken online link, preventing clients from checking fund prospectuses online for nine months.
Fees in investment banking sector across the world declined 29% during the first three-month period of 2016 as uncertainty in the global market halted deal proposing activities and other investment events.
AIG has announced in January planning for spinning off its mortgage insurer unit United Guaranty, following pressure from the shareholders. Following the announcement, Standard & Poor’s, a credit rating agency has downgraded its rating with specific reasoning. The mortgage insurer of AIG has disclosed through a regulatory filing that it intends to go for an initial public offering.
Morgan Stanley lowered Gap's stock to an "underweight" rating from "equal-weight", citing key weakness in the company's business. Analyst at Morgan Stanley fixed an objective price of $26 for Gap's stock, down 11% from the present level.
U.S. stocks swung on Tuesday ahead of Fed statement. While Morgan Stanley and JPMorgan warned that similar to Europe and Japan, stimulus program may not be effective to stimulate growth.
All the major European banks are either shrinking their businesses or just pulling out from the US market. Ignoring the market odd, RBC has strengthened its operations in the less competitive market and capable of getting enlisted among the ten largest US banks. Getting inspired, RBC plans for further strengthening its US investment arm.
It was agreed that Samsonite is to acquire luggage-manufacturer rival Tumi for about $1.8 billion. Samsonite has long been interested in Tumi and its acquisition is considered the biggest deal made by Samsonite.
Eroding revenue from bond trading and other core services, Morgan Stanley has changed its business focus towards asset management business. It has also focused on Latin America to procure investment in US businesses. To ensure the business hunting, the banking giant has planned for appointing 75 advisers for this region during this year.
Mutual funds have recently slashed the value of Silicon Valley startups. Marking down of Flipkart share price and valuation by Morgan Stanley has appeared as a great jolt for Flipkart. The Indian largest ecommerce retailer is expected to witness hurdles in raising its planned $1 billion fund following the Morgan Stanley move.
Alibaba plans of expanding and venturing into other business the reason it is seeking $4 billion in loans. It is already in talks with several banks and the request will be finalized by next month.
Morgan Stanley intends to hire additional bankers in 2016 in order to contend with its rival Nomura. The company failed to present the exact number of staffs being hired.
Morgan Stanley, has been reported to tatter with its fixed income division. Following the industry precedence of changing or reshuffling the executives, it has named Sam Kellie- Smith as the head of fixed income and commodities. The Wall Street Bank’s recent moves haven’t surprised the analysts at all.
Bitcoin, the most famous digital and crypto currency, has an enormous surge of value with more than 70% raise in a month. A movement that surprised every body amidst a global economic slowdown, is coming from Chinese capital outflow invested in bitcoin.
Morgan Stanley reported a big miss in the third quarter profit as a result of a decline in their trading and private equity business. Although they have shifted their focus on business segment with less risk, global economic slowdown has hit Morgan Stanley and other US banks this quarter.
Citigroup announced that the company will cut down on block trading businesses as one of the bank's strategy to protect the firm from any losses, especially with current market uncertainty. The bank also plans to avoid its client from big losses as the trading could give a high return but at the same time, the client could risk losing more than they invested when the market turns south.