The British government has confirmed its remaining shares in Lloyds Banking Group have been sold, eight years after pumping in £20bn to save it. Lloyds Bank said the government will see a return of £21.2bn on its investment.Add your comment!
Investors betting on Argentina's stock market could make a return of 258% in five years, according to analysts at Morgan Stanley. Argentina is returning to economic and political normality after years in the capital markets wilderness following its 2002 debt default and financial collapse, Morgan Stanley said in a note to clients.
Spanish oil major Repsol signed a definitive settlement agreement Thursday with Argentine President Cristina Fernandez's administration, which transferred more than 5 billion dollars in bonds as compensation for the 2012 seizure of Repsol's controlling stake in energy firm YPF.
Morgan Stanley has cut its 2012-13 growth forecasts for Argentina and forecasts a sharp devaluation of the Argentine peso next year as the economy starts to unravel amid high inflation and policy missteps.
Moody's warned Thursday it may cut the credit ratings of 17 global and 114 European financial institutions in another sign the impact of the Euro zone government debt crisis is spreading throughout the global financial system.
The United States and Euro zone are dangerously close to recession, Morgan Stanley said on Thursday, criticizing policymakers and predicting the European Central Bank will have to reverse its rates policy.
The US Treasury Department said it has launched a fourth sale of 1.5 billion shares of Citigroup Inc common stock under a prearranged trading plan.
The U.S. Federal Reserve Board announced it has approved the application by China Investment Corporation (CIC) to buy up to 10% of voting shares of investment giant Morgan Stanley.
Eight banks are facing a US investigation into the rating of their mortgage products, the BBC understands. New York Attorney General Andrew Cuomo is looking at whether the relationship between the banks and credit rating agencies was manipulated to gain better ratings for risky securities.
Morgan Stanley (NYSE:MS) CEO James Gorman denied allegations the US bank misled investors about mortgage derivatives it sold them. The firm is being probed by US prosecutors over whether the bank misled clients when it sold them collateralized debt obligations as its own traders bet that the value of the securities would drop, the Wall Street Journal reported Wednesday.