Morgan Stanley, the firm targeting a 2 percent market-share gain in fixed-income trading this year, was burned by a wager on U.S. inflation expectations in the second quarter, three people informed of the dealings said.
BusinessWeek.com — Finance
Deutsche Bank AG hired Thomas Jarck, previously of Citigroup Inc., as a managing director to lead U.S. index flow trading in global equity derivatives.
BusinessWeek.com — Finance
Goldman Sachs Group Inc., Citigroup Inc. and Morgan Stanley were among Wall Street banks whose second-quarter profit estimates were cut by analysts, who said the companies’ trading revenue was likely to tumble.
BusinessWeek.com — Finance
Bank investors may have to wait at least another quarter for trading to rebound as analysts expect lower trading revenue in the current period, the fifth straight year-over-year drop, amid weaker volume and market declines.
BusinessWeek.com — Finance
NYSE Euronext suffered a second day of interrupted trading in European equities as a computer malfunction affected processing of transactions in about a tenth of its market segments.
BusinessWeek.com — Finance
Empresas La Polar SA, the Chilean department-store operator under investigation for consumer- lending fraud, fell by a record after doubling an estimate for loan-loss provisions and naming its second chairman in a week.
BusinessWeek.com — Finance
Citigroup Inc., which took a $ 45 billion U.S. bailout after losses on subprime home loans, is boosting profits from a hedge fund that bets the bank’s money on mortgage debt — a practice regulators plan to restrict.
BusinessWeek.com — Finance
Morgan Stanley, the sixth-largest U.S. bank by assets, posted trading revenue of more than $ 100 million on 10 days in the first quarter.
BusinessWeek.com — Finance
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