Morgan Stanley posts loss, sells stake to China
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China has agreed to pump $5 billion into Morgan Stanley as the U.S. investment bank reported a stunning fourth-quarter loss fueled by $9.4 billion of losses in subprime mortgages and other assets.
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The company, battered by the subprime crisis, said it would sell a $5 billion stake to a Chinese investment fund.
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US investment bank Morgan Stanley on Wednesday said quarterly profit dropped by a third on lower bond trading revenue, weak equities results and higher expenses, falling
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U.S. stocks extended their losses on Wednesday after investment bank Morgan Stanley said quarterly profit fell, casting doubt on corporate earnings growth, while a brokerage downgrade on Cisco Systems Inc. hurt tech stocks.
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Morgan Stanley  on Wednesday said it has suffered a $3.7 billion loss stemming from its U.S. subprime mortgage exposure, which it expects will reduce fourth-quarter earnings by about $2.5 billion.
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Blue-chip stocks added to losses on Wednesday, tracking a drop in the shares of General Motors Corp., which fell sharply after news a big investor was selling his stake in the company.
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Morgan Stanley  on Wednesday said it will eliminate 1,000 jobs as it scales back its U.S. residential mortgage operations and closes its British residential mortgage lending business, Advantage Home Loans.
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NEW YORK - Stocks tumbled Wednesday as investors saw a surge in oil prices and disappointing earnings from Morgan Stanley as a reason to collect profits from gains of the last month.
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MCI Inc.&#39;s (MCIP.O: Quote, Profile, Research) quarterly loss ballooned to $3.4 billion as the No. 2 US long-distance company wrote down the value of its assets due to
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Morgan Stanley, the No. 2 U.S. investment bank, reported a $9.4 billion writedown on Wednesday from bad bets on mortgage-related debt, leading it to take a $5 billion infusion from an arm of the Chinese government
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Morgan Stanley  said on Monday it has acquired Nan Tung Bank, a Zhuhai-based foreign funded bank formerly owned by a full subsidiary of Bank of China .
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Morgan Stanley  on Wednesday  said it has suffered a $3.7 billion loss stemming from its U.S.  subprime mortgage exposure, which it expects will reduce  fourth-quarter earnings by about $2.5 billion.
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Heavy losses hit exchanges from China to Brazil
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Investment bank misses estimates as trading income plunges, other units fail to pick up the slack. By Rob Cox, Breakingviews. LONDON (Breakingviews) - Morgan Stanley is the first to slip.
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Morgan Stanley  said on Monday it has acquired China's Nan Tung Bank, a deal that would give the Wall Street giant a coveted onshore commercial banking license in China ahead of U.S. investment bank rivals.
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Morgan Stanley will pay $4.4 million to settle a class-action lawsuit with brokerage clients who bought precious metals and paid storage fees.
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Morgan Stanley , the  second-largest investment bank by market value, said on Tuesday  it would spin off its Discover credit-card division as  quarterly profit fell 11 percent.