Morgan Stanley has been faced with a tremendous amount of pressure recently to show an increase in the profit margins of its retail brokerage sector. It has decided to adopt various measures to trim down on costs such as office consolidation, announcement of layoffs, among others. According to sources, the number of job positions which are faced with the threat of layoffs is not really clear for the time being.
Deutsche Bank AG reported a fall in its first-quarter net profit by one-third from a record level a year earlier. Deutsche Bank blames this on the sluggish client activity, which has continued to pressurize investment banking activities across the board and due to exceptional charges has resulted in the bank’s effort to reduce risks.
Citigroup made profits of $2.9 billion in the first three months of the year. Citigroup said that it had been helped by record revenue from processing transactions for its international clients and more customers repaying loans on time. Revenue fell 2 percent to $19.4 billion from the year-ago quarter.
The California-based professional social networking website, LinkedIn, co-founded by Reid Hoffman and run by chief executive Jeff Weiner, is all set to make a market debut with its scheduled IPO for later today. Valued at $4.3 billion, LinkedIn will sell 7.8 million shares, and raise $352.8 million, pricing each share at $45, setting the stage […]
In a historic win against corrupt investment practices, billionaire investor and Galleon Group founder, Raj Rajaratnam, was found guilty on 14 insider-trading and conspiracy charges on Wednesday. The long ordeal that started with Rajaratnam’s arrest in October 2009 concluded with a seven-week trial in Manhattan federal court, where the jury delivered across-the-board convictions on nine […]
AT&T’s $39 billion blockbuster takeover of T-Mobile marks the biggest global telecom deal since AT&T’s $89.4 billion buy of BellSouth in 2006. The latest among a series of transformational deals for Morgan Stanley‘s telecom bankers, the AT&T / T-Mobile deal will mean a whooping $145 million fee for the advisors. The deal came through after a […]
Tokyo Stock Exchange (TSE), the 4th-largest global bourse by trading volume, has confirmed plans of beginning talks with its smaller Japanese rival, the Osaka Stock Exchange (OSE), on a possible merger to strengthen its position given the recent wave of consolidation of markets that has been taking place globally. While Tokyo Stock Exchange CEO has stated […]
They stood strong, survived and even thrived through the global financial crisis. Now, having set a record high of $44 billion worth of mergers and acquisitions across Sub-Saharan Africa for 2010, companies from these emerging market countries promise even better prospects for 2011. Currently, the population of Africa stands at over a billion. Estimates expect […]