Morgan Stanley said Tuesday it expects to pay back the government’s TARP (Troubled Asset Relief Program) bailout investment by the end of June, announcing today that it intends to raise $2.2 billion by selling common stock.
Morgan Stanley plans to raise $2.2 billion in common equity to bring it closer to repaying its TARP loans, the company said on Tuesday.
Morgan Stanley plans to raise $2.2 billion in common equity to bring it closer to repaying its TARP loans, the company said on Tuesday.
Morgan Stanley and Citigroup Inc have started their retail brokerage joint venture at least a month ahead of schedule, but have already lost more than 1,500 brokers.
Morgan Stanley and Citigroup Inc have launched their brokerage joint venture at least a month ahead of schedule, the companies said on Monday.
Following a Morgan Stanley plan unveiled last week, Citigroup and Bank of America are likely to soon raise base salaries for investment bankers to compensate for limits on annual bonuses, the Wall Street Journal said, citing people familiar with the matter.
Base salaries for banking executives at Morgan Stanley will rise this year as the company sets new compensation policies in the wake of scrutiny over bonuses for the financial services industry, according to Bloomberg.
Bank of America Corp Chief Executive Kenneth Lewis, whose bank sold $13.47 billion of common stock this month, on Wednesday said the worst of the economic downturn has likely passed and that conditions will not worsen as much as feared.
Bank of America Corp Chief Executive Kenneth Lewis said the worst of the economic downturn has likely passed and conditions will not worsen as much as feared, a day after his bank raised $13.47 billion in a common stock offering, .
Morgan Stanley announced today it plans to sell its remaining 27.7 million shares in indexing and analytics company MSCI Inc.
The flood of follow-on stock issues in the United States will continue for several weeks but start shifting away from banks, a Morgan Stanley executive said Monday.
Goldman Sachs Group Inc, Morgan Stanley and other banks have applied to repay billions of dollars they borrowed under the U.S. government's Troubled Asset Relief Program, sources familiar with the situation said on Monday.
Former Treasury Secretary Henry Paulson told nine banks last year that they should accept a federal infusion of funds or be forced to by the regulators, according to a report.
The world's richest nations will put recession behind them later this year, but when growth returns it will be sluggish, according to Reuters polls that pose a challenge to the vigorous rally in world stock markets.
Four big U.S. banks on Monday announced plans to sell more than $6 billion of common stock, in an effort to raise capital and repay funds received under the government's bank bailout program.
After months of shunning the initial public offerings of tech companies, investors have begun warming to them again, yet another sign the IPO market might be recovering.
Investment bank Morgan Stanley on Friday said it priced an offering of 146 million common shares at $24 each, raising a more-than-expected $3.5 billion in new equity but at a discount of nearly 12 percent to its Thursday closing price.
The much anticipated stress test results were finally released on Thursday by the Federal Reserve reflecting that 10 of the nation's 19 largest banks need a total of about $75 billion in new capital.
Citigroup Inc and Bank of America Corp shares rallied in premarket trading ahead of the release of stress test results that will force them and other top banks to raise tens of billions of dollars in capital.
Some of the U.S. banking giants have been ordered to find additional capital by regulators to protect themselves in the event of a severe economic downturn.
More than twenty of the largest subprime mortgage lenders relied on financing from U.S. banks that are now relying on billions of dollars in rescue funds, a report release on Wednesday concludes.
A U.S. bankruptcy judge on Tuesday considered whether Chrysler LLC could move forward with its plans for a quick sale of most of its assets while rival General Motors Corp prepared to resume talks with its union and detailed a plan that could shift majority ownership control to the U.S. government.
