Category Archives: Morgan Stanley

Banks stand to lose at least $500m if they fund Elon Musk’s Twitter takeover

Posted on by

Morgan Stanley and six others committed in April to raise $13bn in debt to finance the purchase – before a deterioration in credit markets

Several large US and international banks would lose $500m or more if they proceed with obligations to fund Elon Musk’s $44bn takeover of Twitter, according to a report on Saturday.

The banks, led by Morgan Stanley and six others, including Barclays and Bank of America, committed six months ago to raise $13bn in debt to finance Musk’s purchase – an agreement that does not hinge on whether they are able to sell the debt on to investors.

Continue reading...

Top banks could be investigated over $20bn fire sale of hedge fund assets

Posted on by

Collapse of Archegos has reportedly prompted SEC and FCA inquiries into Credit Suisse, Goldman Sachs, Nomura and others

UK and US regulators are looking into whether global investment banks breached rules by holding group discussions shortly before launching a fire sale of nearly $20bn worth of assets belonging to the distressed hedge fund Archegos Capital Management, according to reports.

The Securities Exchange Commission is said to have requested further information from major US banks Goldman Sachs, Wells Fargo and Morgan Stanley, as well as Japan’s Nomura and Swiss lender Credit Suisse about a meeting with Archegos founder Bill Hwang on Thursday.

Continue reading...

Morgan Stanley: ex-employees seek contract release to allege racial discrimination

Posted on by

Former workers have ‘important’ stories to tell and ‘feel a heightened sense of obligation to come forward’, lawyer says

At least six former employees are asking Morgan Stanley to release them from confidentiality agreements so they can tell their stories of alleged racial discrimination at the investment bank.

Related: Mike Pompeo attacks WHO in private meeting during UK visit

Continue reading...

Report: Democrat Harold Ford Jr. Considered for Trump Post

Posted on by
Ford served five terms in Congress from 1997 to 2007 following the retirement of his father Harold Ford Sr., who had served the same district since 1983. He currently lives in New York and works for Morgan Stanley, but is a frequent guest on MSNBC's "Morning Joe," where he offers political commentary.