By Christina Rexrode
Profits roared back at the investment bank Morgan Stanley in the fourth quarter, reversing a loss in the same period a year ago, when its results were weighed down by a costly legal settlement.
By Michelle V. Remo
International financial services firm Morgan Stanley has selected the peso as its latest “top pick” currency, citing the favorable economic conditions and significant dollar liquidity of the Philippines.
A slew of US companies announced big profits Thursday, but investors spooked about the economy sold stocks anyway.
NEW YORK—Morgan Stanley said Thursday that the United States and Europe are dangerously close to recession, blaming in part policy errors by authorities on both sides of the Atlantic. The investment bank said a slow European response to the eurozone’s mounting sovereign debt problems and the US political battle over raising its debt ceiling had [...]