News

Don’t cry for Aberdeen Asset Management but Argentina’s currency issues sent it falling yesterday.

Morgan Stanley to close UK mortgage arm

Morgan Stanley is shutting down its UK mortgage lending arm, Advantage Home Loans, with the loss of 160 jobs.

Barclays bags Goldfish for £36m

Barclays HAS bought the Goldfish credit card business from Discover Financial Services of the US for a knock-down price of $70m (£36m).

Sports Direct to sell in China through ITAT

Sports Direct is expanding into China with a deal to sell the company's brands through Chinese retailer ITAT.

Kodak workers sue Morgan for $500m

A group of former Eastman Kodak employees have lodged a class action lawsuit claiming nearly $500m (£254m) from Morgan Stanley alleging that the US broker gave them bad advice in saying they could retire early.

Property stocks 'will rally by 20 per cent in first half'

Shares in listed property companies will rally by at least 20 per cent in the first half of this year, analysts at Morgan Stanley forecast yesterday, arguing that the state of the sector is "so bad, it's good". The report provided welcome respite for bombed-out property stocks, which rose sharply following its publication.

Single error costs mighty Morgan Stanley $8bn

A single catastrophic mistake by traders at the heart of Morgan Stanley's mortgage business has blown an $8bn (4bn) hole in the bank's finances, it emerged yesterday.

The children of Guantanamo Bay

The 'IoS' reveals today that more than 60 of the detainees of the US camp were under 18 at the time of their capture, some as young as 14

McClaren insists on return of Venables to England set-up

The England manager-in-waiting Steve McClaren is winning his battle to persuade the Football Association to put aside its differences with Terry Venables and make the former national team manager a key adviser in the new regime that will follow Sven Goran Eriksson's departure after the World Cup finals.

Carnage returns to world markets

Global stock markets took a major battering yesterday as sliding commodity prices and inflationary fears combined with a warning from China that it plans to slow its red-hot economy.

The Investment Column: Morgan Stanley raises note of caution for UK life assurers

Car dealer Lookers can accelerate as overall market goes into reverse; Consulting group is only for the brave

Market Report: Talk of &pound;1bn share buy-back drives up mmO<SUB>2</SUB>

Hopes that mmO 2 will soon unveil a return of cash to shareholders sent investors piling into the mobile phone group and drove its stock 1.5p higher to 101.5p. It was Morgan Stanley who stirred up the interest in mmO 2 yesterday as the broker hinted that next month could well see the group's management team announce a share buy-back programme of up to £1bn.

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