IBTimes Australia : Morgan Stanley Topic

Local, global trends boost Gulf banks as foreign rivals retrench

Thu, 20 Jun 2013 01:28:03 +1000

When British banker Michael Tomalin took the top job at National Bank of Abu Dhabi in 1999, the lender had about $9 billion in assets - tiny by global standards - and its operations were largely confined to the oil-rich emirate of Abu Dhabi.

Softbank closer to acquiring Sprint after Dish abandons bid for now

Wed, 19 Jun 2013 18:14:01 +1000

Japan's SoftBank Corp cleared a major hurdle in its attempt to buy U.S. wireless provider Sprint Nextel Corp, as rival bidder Dish Network Corp declined to make a new offer after SoftBank sweetened its own bid last week.

Japan's exports pick up pace, give economy momentum in rough markets

Wed, 19 Jun 2013 15:42:02 +1000

Japan's exports rose in May at the fastest annual rate in more than two years with the help of a weak yen and a moderate pick-up in global demand, boding well for the government's efforts to steer the economy through market turbulence.

Sweden selling Nordea stake, could raise $2.8 billion

Wed, 19 Jun 2013 03:56:04 +1000

Sweden is selling a 5.7 percent stake in Nordea , the Nordic region's biggest bank, in a move that may give the centre-right ruling coalition some fiscal leeway ahead of an election next year.

Third Point ups Sony stake, calls for independent entertainment board

Tue, 18 Jun 2013 16:21:02 +1000

New York-based hedge fund Third Point said it has raised its stake in Sony Corp and urged the Japanese company to create an independent board to run a partially spun-off entertainment arm with Sony's CEO, Kazuo Hirai, as its chairman.

Analysts Downgrade Sales Forecast for Samsung Galaxy S4 to 7 Million Units (VIDEOS)

Tue, 18 Jun 2013 01:33:53 +1000

Is South Korean tech giant, the number one smartphone maker in the world, going the way of Motorola, BlackBerry, Nokia and Apple? That question is now on the minds of analysts who just reviewed the growth outlook for Samsung since almost 40 per cent of the 43 analysts downgraded earnings for the tech giant and shipments to 7 million from the initial 10 million units.

Analysis: Japan PM Abe's true test; rising government bond yields

Mon, 17 Jun 2013 07:21:02 +1000

Abenomics' massive monetary stimulus was supposed to depress long-term interest rates to spur economic activity, but the Japanese government bond market has other ideas.

Samsung analysts ask hard questions as S4 marketing charm wears off

Mon, 17 Jun 2013 07:14:04 +1000

Analysts fell under Samsung Electronics Co Ltd's marketing spell when they made what they now admit were hopelessly optimistic forecasts for its smartphone sales.

Analysis - Japan PM Abe's true test; rising government bond yields

Mon, 17 Jun 2013 07:14:02 +1000

Abenomics' massive monetary stimulus was supposed to depress long-term interest rates to spur economic activity, but the Japanese government bond market has other ideas.

Analysis: Fed-induced selloff has investors hunting for bargains

Mon, 17 Jun 2013 02:21:03 +1000

Since Ben Bernanke unleashed a bombshell on May 22 by suggesting the U.S. Federal Reserve could before long start to pull back on its massive monetary stimulus, big stock and bond markets have been feeling the pain.

Analysis - Fed-induced selloff has investors hunting for bargains

Sun, 16 Jun 2013 23:21:02 +1000

Egypt in late stages of verifying reform plan with IMF - central bank

Sat, 15 Jun 2013 21:21:01 +1000

Egypt's government is in the late stages of verifying its economic reform programme with the International Monetary Fund before obtaining a $4.8 billion (3 billion pounds) IMF loan, its central bank governor said on Saturday.

Exclusive - Deutsche Bank "horribly undercapitalized": U.S. regulator

Sat, 15 Jun 2013 05:42:03 +1000

A top U.S. banking regulator called Deutsche Bank's capital levels "horrible" and said it is the worst on a list of global banks based on one measurement of leverage ratios.

Exclusive: Deutsche Bank 'horribly undercapitalized' - U.S. regulator

Sat, 15 Jun 2013 05:42:02 +1000

A top U.S. banking regulator called Deutsche Bank's capital levels "horrible" and said it is the worst on a list of global banks based on one measurement of leverage ratios.

Consumer and factory data signal steady U.S. economy

Sat, 15 Jun 2013 03:28:03 +1000

U.S. consumer sentiment edged off a six-year high in June while manufacturing output picked up a bit last month after two straight months of declines, suggesting the economy remains on a moderate growth path.

Sentiment, factory data point to moderate growth

Sat, 15 Jun 2013 01:56:03 +1000

Consumer sentiment edged off a six-year high in June while manufacturing output picked up a bit last month, suggesting the economy remained on a moderate growth path.

U.S. sentiment, factory data point to moderate growth

Sat, 15 Jun 2013 01:49:03 +1000

U.S. consumer sentiment edged off a six-year high in June while manufacturing output picked up a bit last month, suggesting the economy remained on a moderate growth path.

Anti-G8 activists rally in London banking district

Sat, 15 Jun 2013 00:28:02 +1000

About 100 activists rallied in the shadow of London's Canary Wharf financial district on Friday, encircled by police, in a protest against capitalism before next week's G8 summit in the United Kingdom.

Market headwinds raise stakes for Abe's Japan revival plan

Fri, 14 Jun 2013 20:00:04 +1000

This is not how Japan's Prime Minister Shinzo Abe probably imagined reaching a key milestone in his economic revival plan.

'Ringleader' says Apple did not raise e-books prices

Fri, 14 Jun 2013 08:42:02 +1000

An Apple Inc executive at the center of an antitrust lawsuit by the U.S. government said on Thursday the company "didn't care" what price publishers set for e-books.

Anti-G8 protests aim for London's Canary Wharf banking district

Fri, 14 Jun 2013 08:14:02 +1000

Activists plan a show of "civil disobedience" in the heart of London's Canary Wharf financial district on Friday to protest against capitalism ahead of next week's G8 summit which Britain is hosting.

U.S. sales, jobs data show underlying economic strength

Fri, 14 Jun 2013 03:42:03 +1000

U.S. retail sales rose more than expected in May and first-time applications for unemployment benefits fell last week, signs of economic resilience in the face of belt-tightening in Washington.

Sales, jobs data show underlying economic strength

Fri, 14 Jun 2013 03:42:02 +1000

Retail sales rose more than expected in May and first-time applications for unemployment benefits fell last week, signs of economic resilience in the face of belt-tightening in Washington.

Coty fails to charm investors in market debut

Fri, 14 Jun 2013 02:42:02 +1000

Shares of perfume and beauty products seller Coty Inc fell more than 3 percent in their market debut on Thursday, taking the gloss off the third-largest U.S. IPO this year.

Apollo Tyres to Buy Cooper Tire for $2.5 Billion

Thu, 13 Jun 2013 13:16:06 +1000

Apollo Tyres Ltd agreed to buy U.S.-based Cooper Tire & Rubber Co for about $2.5 billion in a deal that would make it the world's seventh-largest tire maker and reduce its dependence on a slowing Indian auto market.

Royal Bank of Canada seeks wealth acquisitions valued up to C$5 billion: CFO

Thu, 13 Jun 2013 06:00:05 +1000

Royal Bank of Canada could make wealth management acquisitions valued up to $5 billion, the bank's chief financial officer said on Wednesday.

Morgan Stanley again targets wealth management margins above 20 percent

Thu, 13 Jun 2013 03:28:03 +1000

Morgan Stanley is once again targeting pretax profit margins of 20 percent or more in its wealth management business, according to a presentation by CEO James Gorman on Wednesday.

Signs of M&A revival in Middle East as activity picks up

Thu, 13 Jun 2013 00:14:02 +1000

After several sluggish years, mergers and acquisitions activity within the Middle East is showing signs of revival, giving hope to global banks which scaled back their regional operations because of a dearth of deal flow.

Regulator gives big banks two years to push out swaps trading

Wed, 12 Jun 2013 09:42:02 +1000

U.S. officials will give JPMorgan Chase, Citigroup, Bank of America and several other big firms two years to comply with a controversial Dodd-Frank requirement that they push some swaps trading out of the bank.

Bank of Japan stands pat, leaves door open for market calming steps

Tue, 11 Jun 2013 21:00:04 +1000

Bank of Japan Governor Haruhiko Kuroda said the central bank will consider fresh steps to calm markets if borrowing costs spike again in the future, but the central bank held off on new measures on Tuesday arguing that bond markets had stabilized.