The major banks from the US have exposure to the debt of ailing commodity giant Glencore Plc. Bank of America, Citigroup, JPMorgan Chase and Morgan Stanley have reportedly lent $350million apiece to Glencore. North American banks contributed 20percent of the total loan exposure of Glencore. The ongoing slump in commodities market adversely impacted the Swiss-based Glencore's performance. This indicates potential alarming situation for the American banks if embattled Glencore slips into a liquidity crisis. Glencore is engaged in commodity trading and mining activities.
Tags: Morgan Stanley
Alibaba Resort to $4 Billion Loans For Expansion From Respective Banks
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 to increase staffs in Japan
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 Refurnishes Fixed Income Division, Names Sam Kellie-Smith As The New Head
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 Value Keeps Surging Surprisingly
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.
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Goldman Sachs is racing ahead of its rivals in the global investment banking segment by revenues and fees in mergers and acquisitions (M&As) activity. Goldman Sachs' performance in 2015 so far exceeded while its competitors are not even close to it. With a market share of 12.3 percent, Goldman Sachs recorded $2billion revenues till date, while JPMorgan and Morgan Stanley are left with less than nine percent market share in the M&A space. The mergers and acquisitions activity this year so far was a robust period for Goldman Sachs.
Morgan Stanley, JPMorgan Chase and Goldman Sachs were the top-three beneficiaries in equity trading revenues during the second quarter of 2015.
The gold price drop last week showed its lowest since 2010 and the yellow metal is poised for further fall likely to record biggest monthly drop in the past two years.
U.S. mutual funds are placing bigger bets on privately held companies to get a head start finding the next IPO superstar, a strategy that has yielded some dramatic payoffs and flameouts.
Crude oil prices dropped on Monday as the dollar rose and on expectations that OPEC production would remain high, stoking worries of oversupply despite declining U.S. rig operations.
Castleton Commodities International will buy Morgan Stanley's (MS.N) physical oil business, vaulting the Connecticut-based merchant into the big leagues of global crude and fuel traders.
Global investment banks are scrambling to get a piece of the action from India's booming technology start-ups, having missed out on the initial flurry of deal-making to their better-connected but much smaller domestic rivals.
Agrochemicals firm Syngenta on Friday rejected a $45 billion takeover offer from Monsanto, saying the offer undervalued the Swiss firm and did not fully take into account regulatory risks.
BHP Billiton's shareholders are expected to approve the biggest ever spin-off in the mining industry on Wednesday, seeking to wring more value out of a string of long-neglected aluminum, manganese, silver and nickel assets.
