By Joseph A. Giannone
NEW YORK (Reuters) - Morgan Stanley (MS.N: Quote, Profile, Research) reported sharply
lower quarterly earnings on Wednesday after absorbing $2.3
billion of write-downs, but resilient trading results helped
the No. 2 U.S. investment bank beat Wall Street’s reduced
expectations by a wide margin.
By several measures, Morgan had the best [...]
By Chris Reiter
NEW YORK (Reuters) - Jamie Dimon’s grab of Bear Stearns may
turn into one of the biggest bargains in recent years.
Banking experts were almost unanimous in their appraisal of
the move by JPMorgan Chase %26amp; Co (JPM.N: Quote, Profile, Research), which is run by Dimon,
to buy Wall Street [...]
NEW YORK, March 19 (Reuters) - Credit spreads of contracts
that insure the debt of U.S. brokers were mixed on Wednesday
after Morgan Stanley reported quarterly earnings that topped
estimates and several banks tested a new program allowing them
to borrow directly from the Federal Reserve.
Morgan Stanley’s (MS.N: Quote, Profile, Research) credit default [...]
BEIJING (Reuters) - CITIC Securities (600030.SS: Quote, Profile, Research), China’s biggest listed brokerage, will keep looking for good opportunities to expand abroad by teaming up with foreign investment banks, an executive said on Wednesday.
The firm announced on Tuesday it had decided to terminate its planned strategic cooperation with Bear Stearns (BSC.N: [...]
(Adds details)
By Kennix Chim
HONG KONG, March 19 (Reuters) - Ping An Insurance (Group) Co
(2318.HK: Quote, Profile, Research), which agreed to buy half of Fortis’ (FOR.AS: Quote, Profile, Research)
(FOR.BR: Quote, Profile, Research) asset management unit on Wednesday, posted a 137
percent jump in second-half profit last year, driven by
contributions [...]
* to triple assets to S2.18 billion
* plans to raise equity, cap borrowing at 35pct of assets
(updates with quote, details)
By Daryl Loo and Kevin Lim
SINGAPORE (Reuters) - Singapore-listed CapitaRetail China
Trust (CRCT) (CRCT.SI: Quote, Profile, Research) said on Wednesday it expects to triple
assets to S$3 billion ($2.18 [...]
By Langi Chiang and Xie Heng
BEIJING (Reuters) - China’s CITIC Securities (600030.SS: Quote, Profile, Research),
fresh from the collapse of a deal to invest in Bear Stearns
(BSC.N: Quote, Profile, Research), said on Wednesday it still intended to expand abroad,
potentially by teaming up with foreign investment banks.
The firm on Tuesday [...]
NEW YORK (Reuters) - Investment banks Goldman Sachs Group Inc (GS.N: Quote, Profile, Research), Lehman Brothers Holdings Inc (LEH.N: Quote, Profile, Research) and Morgan Stanley (MS.N: Quote, Profile, Research) are testing a new program that allows investment banks to borrow directly from the Federal Reserve, according to people at the banks.
In [...]
NEW YORK (Reuters) - Bear Stearns Cos Inc (BSC.N: Quote, Profile, Research) shares
surged 23 percent on Tuesday, as investors speculated on the
outcome of JPMorgan Chase %26amp; Co’s (JPM.N: Quote, Profile, Research) bid to buy the storied
investment bank.
The share gains were a glimmer of good news for investors
in Wall Street’s [...]
NEW YORK (Reuters) - U.S. investment banks Goldman Sachs
Group Inc (GS.N: Quote, Profile, Research), Lehman Brothers Holdings Inc (LEH.N: Quote, Profile, Research) and
Morgan Stanley (MS.N: Quote, Profile, Research) are testing a new program that allows
investment banks to borrow directly from the Federal Reserve,
according to people at the banks.
In a [...]
