Morgan Stanley Quarterly Profit Drops 42 Percent, Shares Plunge
Wall Street bank Morgan Stanley reported a quarterly profit that fell far short of market expectations, capping a generally downbeat quarter for big U.S. banks after investors fled the bond, currency and commodity markets. Morgan Stanley’s profit slumped for the...Citi Dials Down Risky Block Trading Amid Market Turmoil
Over the summer, as the U.S. stock market wobbled and then plunged 4 percent in a day, Citigroup made a tough choice: to dial down risk-taking in the bank’s capital markets group. Phil Drury and Doug Adams, then co-heads of U.S. equity capital markets focused on block...J.P. Morgan Ramps Up ‘Risky’ Loan Purchases From Smaller Lenders
J.P. Morgan Chase & Co., looking to stem falling revenue in its mortgage business as fewer Americans refinance, is increasingly buying loans from smaller lenders, a practice that competitors including Bank of America view as risky. In the first half of 2015, the...
