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Morgan Stanley

Morgan Stanley profit blows past estimates, flags credit event loss
Business & Finance

Morgan Stanley profit blows past estimates, flags credit event loss

  • The Wall Street powerhouse, however, recorded a total one-off loss of over $900 million that it said was related to a credit event and subsequent losses from "a single prime brokerage client."
  • Morgan Stanley was one of six banks who had exposure to Archegos Capital Management, a family office fund that defaulted on margin calls late last month and triggered a firesale of stocks across Wall Street.
Published 16 Apr, 2021 05:21pm
Morgan Stanley aims to support $750bn in low-carbon investments by 2030
Business & Finance

Morgan Stanley aims to support $750bn in low-carbon investments by 2030

  • As part of the commitment, the bank said it would escalate activities such as green-bond financing and financing companies that support clean technology and renewable energy.
  • As investor interest surges in environmental, social and governance (ESG) issues, a fleet of companies have taken steps to improve their performance on this front.
Published 13 Apr, 2021 08:29pm
Morgan Stanley hires UBS banker Greco to head Italy financial services M&A
Business & Finance

Morgan Stanley hires UBS banker Greco to head Italy financial services M&A

  • Greco, who spent almost nine years at UBS covering major financial services (FIG) transactions in Italy and payments deals across Europe, will start at Morgan Stanley at the end of June and will be based in London, two of the sources said.
  • Orcel later brought Greco over to UBS where he joined the FIG team while Orcel was running UBS's investment banking unit between 2012 and 2018.
Published 08 Apr, 2021 06:57pm
Self-driving truck startup TuSimple eyes over $8bn valuation in US IPO
Markets

Self-driving truck startup TuSimple eyes over $8bn valuation in US IPO

  • The company said it aims to raise about $1.3 billion in its offering by selling around 34 million shares at a price range between $35 and $39 apiece.
  • TuSimple is the third company to announce plans to raise more than $1 billion through share sales on Wednesday, as companies continue to tap into the red-hot US IPO market.
Published 07 Apr, 2021 06:24pm
McAfee to sell enterprise business for $4bn
Technology

McAfee to sell enterprise business for $4bn

  • The deal, subject to customary regulatory approvals and closing conditions, is expected to close by the end this year, McAfee said.
  • Its enterprise business recorded $1.3 billion in net revenue in fiscal year 2020, McAfee said.
Published 08 Mar, 2021 07:28pm
Morgan Stanley expands Black recruitment program
Business & Finance

Morgan Stanley expands Black recruitment program

  • The structure was meant to cast a wider net to reach qualified candidates typically missed by the traditional Morgan Stanley recruitment process.
  • We're looking for candidates that demonstrate success in their previous careers and a willingness to adapt and understand the transferable skills that would be relevant and beneficial in our world.
Published 05 Mar, 2021 06:47pm
Morgan Stanley profit races past estimates as trading shines
Business & Finance

Morgan Stanley profit races past estimates as trading shines

  • High trading volumes during the quarter, stemming from the US elections and the release of coronavirus vaccines.
  • Morgan Stanley's equity underwriting revenue soared 81% from a year earlier, driven by high profile IPOs and follow-on offerings as clients continued to access capital markets.
Published 20 Jan, 2021 08:40pm
Energean approves Israel gas field development
Markets

Energean approves Israel gas field development

  • The Karish North field, which was discovered less than two years ago, is expected to start production in the second half of 2023.
  • The first well at Karish North is expected to produce up to 300 million standard cubic feet per day (3 billion cubic metres per year).
Published 14 Jan, 2021 05:52pm