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Friday 22 July 2011
Going by this last quarter's results, Wall Street could have a new top dog. Morgan Stanley trounced not just market expectations for its latest three-month revenues, but its arch-rival Goldman Sachs as well. "Morgan Stanley is the new Goldman Sachs," the Rochdale Securities' analyst Dick Bove declared after seeing the results yesterday. Morgan Stanley's bonds, commodities and currency trading operations brought in revenues of $1.9bn (£1.67bn), up from $1.7bn, despite the new regulations and caution on the part of clients that have been affecting all Wall Street firms since the financial crisis.
Friday 24 June 2011
Claims that its final bill for the Gulf of Mexico tragedy is being hugely overestimated failed to stop BP sinking last night, as oil prices plummeted after the International Energy Agency (IEA) revealed it was releasing 60m barrels from its reserves.
Friday 15 April 2011
Glencore, the commodities trader that announced its record-breaking flotation yesterday, has Finsbury doing its PR. It is run by Roland Rudd, who is a close friend of Robert Peston, the BBC's Business Editor. So, when Peston revealed yesterday that Glencore had appointed ex-BP boss Lord Browne as its chairman, the world assumed he knew what he was talking about. Some surprise then when Glencore announced several hours later that Simon Murray was its new chairman. "OMG" Peston told the world via Twitter.
Tuesday 05 April 2011
Do I know her?
Friday 18 February 2011
Chi-X, the pan-European trading platform owned by a consortium of investment banks including Goldman Sachs and Morgan Stanley, is believed to be close to agreeing to a $360m (£223m) takeover by US rival Bats Global Markets.
Monday 31 January 2011
Thousands of bankers are set for a nasty shock when their bonuses arrive, as the majority of them still do not realise that much of this year's payout must be deferred.
Sunday 30 January 2011
More than 20 of the world's biggest investment banks will next week to pitch for roles on a potential $8bn London listing of a state-owned Mongolian coal mine.
Friday 21 January 2011
The pharmaceuticals companies faced a bitter pill to swallow yesterday, as investors were warned of the rising danger of legal action within the sector. In the wake of the announcement from GlaxoSmithKline earlier in the week that it is putting aside £2.2bn to cover legal costs, Morgan Stanley said that the "risk of enforcement for the healthcare industry has reached an all-time high".
Friday 21 January 2011
Morgan Stanley spent $16bn on pay last year, up from $14.4bn in 2009, but increased the amount of deferred bonuses and cut back on the portion paid in cash.
Thursday 20 January 2011
We hear congratulations are in order
Saturday 01 January 2011
After a year to forget for its publicity department, business is as brisk as ever at Goldman Sachs which was set to finish 2010 as the top global adviser on takeover deals.
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