17 May 2005 07:49 AM

Morgan Stanley will pay $604 million in damages to Ronald Perelman, chairman of cosmetics group Revlon Inc. who previously sought $2.7 billion from the investment bank, that, in his words, deceived him on the sale

16 May 2005 09:33 AM

Top overseas banks, such as Goldman Sachs and Lehman Brothers, are more profitable in Japan than those of Japanese origin, making money on trading bonds and advising on mergers.

16 May 2005 06:55 AM

Freddie Mac to issue $1 billion in reference notes

16 May 2005 06:09 AM

Morgan Stanley five senior brokerage managers in charge of European and Middle Eastern business left the company after CEO Philip Purcell declared May 10 that morale at the unit is ``solid.’’

13 May 2005 01:12 PM

Morgan Stanley’s dissident executives demand the company to split into two companies saying it is better to serve institutional clients apart from individuals.

13 May 2005 09:51 AM

Morgan Stanley five senior brokerage managers in charge of European and Middle Eastern business left the company after CEO Philip Purcell declared May 10 that morale at the unit is ``solid.’’

13 May 2005 08:09 AM

Credit market is a risky place now, say some bankers and regulators. They are seeking ways to find the core problem for the market that turned sour.

12 May 2005 02:18 PM

The European Investment Bank doubled the maturity of its yield curve by selling the first 30-year bond by a supranational agency on Wednesday.

12 May 2005 12:38 PM

The government-backed mortgage lender Fannie Mae found one more violation of accounting rules relating to the classification of securities of its portfolio. The

12 May 2005 07:53 AM

National Australia Bank (NAB), Australia’s biggest bank by assets, said it would shut 100 branches in the UK and cut 2,500 jobs in Australia, in an attempt to recover from a trading scandal. Earlier, NAB reported a 12.5% drop in first-half cash earnings. Despite earnings drop, the bank plans to expand its operations in the south east of England. NAB

12 May 2005 06:47 AM

BNP Paribas reported today that its first-quarter profit rallied 56%. Profit rocketed to 1.72 billion euros ($2.2 billion) from 1.10 billion euros last year. Analysts were expecting 1.24 billion euros. Revenue rose 19% to 5.6 billion euros.

11 May 2005 10:49 AM

The Belgian Banking, Finance and Insurance Commission said Tuesday it is close to an end in the probe on whether Citigroup manipulated the bond market when it sold €12.4 billion of the paper within seconds in August.

11 May 2005 09:58 AM

U.S. mortgage applications rose 9.4% to 781.0 in the week ended May 6, according to the Mortgage Bankers Association. Index of refinancing applications rose 9.8% to 2263.3.The MBA’s purchase index was up 9.4% to 526

10 May 2005 11:04 AM

Morgan Stanley said its Chief Executive Officer Philip Purcell, scheduled to speak at UBS AG’s financial-services conference at 8:10 a.m. in New York, will say little or nothing to resolve the issue the company faces.

10 May 2005 09:58 AM

The acquisition by Britain’s Barclays of a majority stake in retail lender Absa is a great chance for Africa to widen the entry to the world market and attract more investmnents to South Africa.