Sources say traders at Morgan Stanley lost tens of millions of dollars in a big wager on inflation. Apparently, the bank is still working to get out of the bets.
Once dismissed as risky business, global investing is suddenly hot as a pistol. The big beneficiary? So far, Franklin Resources, which has seen its assets surge and its stock price soar.
Call it a signal of distress. Oswald Gruebel, boss of UBS AG, plans on eliminating 5.3% of the bank's workforce. This comes on top of scrapping the Swiss giant's profit targets. Both the wealth management group and wealth management Americas will feel the pinch.
Currency and stocks should see boost if debt-ceiling is not raised, Templeton boss predicts
McCrudden faces ten years in prison for Internet threats against regulators; allegedly posted execution list on his company website
Stricter regs could hurt carrier's core businesses; MetLife Bank accounts for mere 2% of earnings
Insurer MetLife moving into the business in a big way, while banks back out. Says one industry consultant: 'They must know something I don't know.'
Florida insurance commissioner worried carriers spending more energy on collecting premiums than paying out on policies
Moody's estimates loss of AAA rating would add $100B to Uncle Sam's carrying costs; impact on Treasuries 'significant'
