May 9, 2021

Morgan Stanley elbows out rivals for plum role in $1.5 billion IPO relaunch: sources

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By Scott Murdoch From Reuters HONG KONG (Reuters) – Morgan Stanley (MS.N) has usurped rivals including Deutsche Bank, Citigroup, Credit Suisse and Goldman Sachs to lead the relaunch of a $1.45 billion IPO – Hong Kong’s second-largest this year – in an unusually brutal shuffling of banks’ roles on a big deal. The Wall Street […]

Morgan Stanley adds FAANGs, Cloud Stocks to annual growth list

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From Newsmax Morgan Stanley includes Alphabet, Amazon and Netflix in an annual update of its ‘Secular Growth Stocks’ list. Compiled by the bank’s equity research department, the report highlights 25 stocks that are expected to grow strongly, independent of global economic conditions. Morgan Stanley has also issued a report in conjunction with the growth list […]

China blasts new US tariff threat, warns it will retaliate

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From Newsmax China warned Tuesday it will retaliate against President Donald Trump’s latest tariff threat, fueling fears their escalating dispute could harm global trade and economic growth. The Commerce Ministry criticized Trump’s order to prepare tariffs on $200 billion of Chinese goods as blackmail. In a forcefully worded statement, it said Beijing is ready to […]

Australia: Privatisation gravy train rolls on

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By Michael West From michaelwest.com.au There’s no work like government work. Look what dropped out of the tree: the guide to the consultants’ gravy train 2012 to 2016. This is just NSW privatisations mind you. The mind boggles at how much taxpayer money has been crisped on other consultants, and in all states. Unlike the […]

Which U.S. Companies have the most tax havens?

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By Niall McCarthy From Forbes Every year, U.S.-based multinational corporations use tax havens to avoid paying an estimated $100 billion in federal income tax. According to a report from the Institute on Taxation and Economic Policy, 366 of the country’s 500 largest companies maintain at least 9,755 tax haven subsidiaries where they hold over $2.6 trillion […]

Blankfein Tweets on Bitcoin that paper money was once odd too

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From Newsmax Goldman Sachs Group Inc. Chief Executive Lloyd Blankfein said he is keeping an open mind on bitcoin after a media report that the investment bank was exploring a new trading operation dedicated to cryptocurrencies. “Still thinking about #Bitcoin. No conclusion – not endorsing/rejecting. Know that folks also were skeptical when paper money displaced […]

Sources: FBI seeks documents on bond issues

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By Eva Lloréns Vélez From Caribbean Business SAN JUAN – The Federal Bureau of Investigations (FBI) has allegedly requested documents from investment firms as part of a probe into the $3.5 billion general-obligation bond issue of 2014 and a $600 million bond issue by the Puerto Rico Electric Power Authority (Prepa) in 2013, according to […]

A handful of hedge funds just made a play that screams ‘out of ideas’

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By Linette Lopez From Business Insider A bunch of hedge funds just sent a subtle message to the market: “Guys, we’re out of ideas.” On Tuesday, the activist hedge fund ValueAct Capital announced that it had taken a $1.1 billion stake in Morgan Stanley. However, contrary to the “Act” in its name, the fund told The […]

China’s trade is slowing down and its central bank needs to be careful

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By Rachel Butt from Business Insider It looks like the tide is turning in China. China’s trade data was weak in July, with lower-than-expected export and import growth at -4.4% and -12.5%, respectively.  The country’s reduced appetite for commodities drove down imports growth, while labor-intensive goods (i.e. industries such as agriculture and electronics) were a main drag on exports, according to a note by a […]

Teens’ shifting habits are destroying mall brands like Macy’s and Nordstrom

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By Mallory Schlossberg From Business Insider Teens are changing the retail sphere as we know it, and brands are scrambling to catch up to their tastes. To figure out more about this elusive generation, Business Insider polled 110 teens. One statistic stuck out: Many don’t hang out at the mall anymore; they don’t think it’s […]