Morgan Stanley
Some of the key events about Morgan Stanley
- 1932Faced criticism for underwriting bonds for repressive Latin American regimes
- 1935Founded as an investment bank in New York City
- 1941Became a publicly traded company on the New York Stock Exchange
- 1975Established its first international office in Paris
- 1986Acquired E.F. Hutton & Co., significantly expanding its retail brokerage business
- 1994Paid $9 million to settle charges of improper handling of customer accounts
- 1997Merged with Dean Witter, Discover & Co., creating a major retail brokerage and asset management firm
- 2001Spun off its Discover Card business, focusing on core financial services
- 2003Agreed to pay $125 million to settle allegations of biased stock research
- 2004Fined $19 million for failure to produce email evidence in legal proceedings
- 2007Incurred $9.4 billion in losses from subprime mortgage investments
- 2008Converted to a bank holding company during the financial crisis, ensuring its survival
- 2008Received a $10 billion bailout from the U.S. government during the financial crisis
- 2009Acquired Smith Barney from Citigroup, becoming a global leader in wealth management
- 2010Paid $102 million to settle claims of overcharging customers for currency trades
- 2013Completed the purchase of the remaining stake in Morgan Stanley Smith Barney
- 2016Agreed to pay $3.2 billion to settle claims related to its role in the 2008 mortgage crisis
- 2019Fined $1.5 million for insufficient anti-money laundering program at its commodities business
- 2020Acquired E*TRADE, expanding its digital banking and online brokerage services
- 2022Paid $200 million to resolve investigations into employee communications on unapproved devices
Disclaimer: This material is written based on information taken from open sources, including Wikipedia, news media, podcasts, and other public sources.
Morgan Stanley Latest news
Election Jitters and 401(k)s: Separating Fact from Fiction
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September 5 2024, 05:34 PM • 719 viewsDrowning Confirmed as Cause of Death in Sicilian Yacht Tragedy
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August 27 2024, 03:04 AM • 4317 viewsItalian Prosecutors Probe Fatal Yacht Sinking Off Sicily Coast
August 24 2024, 02:09 PM • 4005 viewsProsecutors Probe Luxury Yacht Disaster Off Sicily, Seven Lives Lost
August 24 2024, 09:25 AM • 968 viewsMexico's Ruling Coalition Gains Controversial Majority in Congress
August 24 2024, 12:58 AM • 1355 viewsTragic Yacht Incident off Sicily Claims Seven Lives, Including Tech Mogul
August 23 2024, 12:08 PM • 703 viewsTech Mogul Mike Lynch's Body Recovered from Sunken Yacht off Sicily
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August 21 2024, 10:39 PM • 817 viewsMexican Judges Strike Against Controversial Judicial Reform Proposal
August 21 2024, 08:06 PM • 455 viewsTragedy Strikes Off Sicily: Four Bodies Found in Sunken Superyacht
August 21 2024, 03:48 PM • 313 viewsDivers Resume Search for Missing Tech Mogul After Yacht Sinks Off Sicily
August 21 2024, 10:48 AM • 466 viewsLuxury Yacht Sinks Off Sicily: Tech Tycoon Among Missing
August 20 2024, 07:13 PM • 522 viewsGoogle Inks Solar Power Deal with Energix for AI Data Centers
August 20 2024, 07:11 PM • 479 viewsYacht Disaster off Sicily: Tech Mogul Among Missing, Rescue Efforts Continue
August 20 2024, 03:57 PM • 461 viewsLuxury Yacht Sinks Off Sicily: Tech Mogul Among Six Missing
August 20 2024, 06:48 AM • 8566 viewsEconomics Professor Alan Taylor Joins Bank of England's Monetary Policy Committee
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August 1 2024, 04:12 PM • 1004 viewsElection Jitters and 401(k)s: Separating Fact from Fiction
Explore the real impact of U. S. elections on retirement savings. Learn why economic cycles matter more than political shifts for long-term market performance.
Major U.S. Port Strike Enters Third Day, Causing Vessel Backlog
A significant dockworker strike at East and Gulf Coast ports enters its third day, causing a backlog of at least 45 container vessels. The White House urges port employers to increase their pay offer as negotiations stall.
SEC Enforcement Chief Exits After Three-Year Crackdown on Crypto and Wall Street
Gurbir Grewal, SEC enforcement director, departs after leading major actions against cryptocurrency exchanges and Wall Street firms. His tenure saw increased regulatory scrutiny and billions in fines.
China Unveils Broad Economic Stimulus Amid Growth Concerns
China's financial authorities introduce comprehensive measures to boost the economy, including interest rate cuts and property market support. The move aims to address slowing growth and deflation concerns.
Fed Eases Capital Rules for Big Banks, Cutting Buffer Increase to 9%
Federal Reserve's top regulator Michael Barr announces softer capital requirement rules for major U. S. banks, reducing the proposed increase from 19% to 9%. Changes address industry concerns while maintaining key reforms.
Tech Tycoon Mike Lynch's Tragic Demise: Yacht Sinking Mystery Unfolds
British entrepreneur Mike Lynch and six others perished when their yacht sank off Sicily. Initial examinations suggest suffocation as the cause of death, puzzling experts about the vessel's rapid sinking.
Yacht Tragedy Off Sicily: Suffocation Suspected in Tech Tycoon's Family Disaster
Initial autopsies suggest suffocation as cause of death in Sicily yacht sinking. Seven people, including British tech mogul Mike Lynch and his daughter, perished in the mysterious incident.
Drowning Confirmed as Cause of Death in Sicilian Yacht Tragedy
Autopsies reveal drowning as the cause of death for victims of the Bayesian yacht sinking off Sicily. Prosecutors investigate the incident while planning to raise the vessel for examination.
Mexico's Democracy at Crossroads: López Obrador's Last-Minute Reforms
President López Obrador pushes for major constitutional changes in his final weeks, sparking concerns about Mexico's democratic future and economic stability. Proposed reforms face international criticism and market uncertainty.
India's NSE Revives IPO Plans, Seeks Regulatory Approval
India's National Stock Exchange reinitiates its IPO process, potentially one of the country's largest. The move follows regulatory hurdles and aims to provide an exit for existing shareholders.
Wall Street's SPAC Persistence: Adapting to New Market Realities
Despite a slowdown in SPAC activity, financial institutions continue to engage with these investment vehicles. Private equity firms may play a crucial role in revitalizing the SPAC model through structural reforms.
Indian Shares Poised for Flat Open as Global Rally Pauses
Indian stock market expected to open steady near record highs. Global markets pause on U.S. rate cut anticipation, while oil prices rise due to Middle East tensions.
Italian Prosecutors Probe Fatal Yacht Sinking Off Sicily Coast
Italian authorities investigate the sinking of a yacht off Sicily, resulting in seven deaths, including British tech entrepreneur Mike Lynch. Prosecutors consider potential charges of culpable shipwreck and manslaughter.
Prosecutors Probe Luxury Yacht Disaster Off Sicily, Seven Lives Lost
Italian authorities investigate the sinking of a "unsinkable" superyacht near Sicily, resulting in seven fatalities. The incident raises questions about vessel safety in severe weather conditions.
Mexico's Ruling Coalition Gains Controversial Majority in Congress
Mexico's electoral institute grants governing coalition a supermajority in Congress, sparking debate over representation and constitutional changes. Critics warn of potential risks to democracy and judicial independence.
Tragic Yacht Incident off Sicily Claims Seven Lives, Including Tech Mogul
A luxury yacht sinking off Sicily's coast results in seven fatalities, including British tech entrepreneur Mike Lynch and his daughter. Fifteen others were rescued in the maritime disaster.
Tech Mogul Mike Lynch's Body Recovered from Sunken Yacht off Sicily
British entrepreneur Mike Lynch's body found in yacht wreckage near Sicily. Five others identified, one still missing after violent storm sank vessel carrying 22 people. Recovery efforts ongoing.
Mexican Judicial Reform Sparks Nationwide Protests and Economic Concerns
President López Obrador's proposal to elect judges faces opposition from court employees and financial analysts. The controversial plan has ignited debates about judicial independence and investment stability in Mexico.
Mexican Judges Strike Against Controversial Judicial Reform Proposal
Judicial strike in Mexico escalates as judges protest proposed reform for popular election of judges. Markets react negatively, with peso falling over 2% amid concerns about judicial independence and economic impact.
Tragedy Strikes Off Sicily: Four Bodies Found in Sunken Superyacht
Four bodies discovered in wreckage of superyacht off Sicily coast. Vessel owned by tech entrepreneur's family sank in severe storm, with 15 rescued and others still missing.
Divers Resume Search for Missing Tech Mogul After Yacht Sinks Off Sicily
Search efforts continue for six missing individuals, including British entrepreneur Mike Lynch, after a superyacht sank off Sicily's coast. Divers face challenges in exploring the wreck at 50 meters depth.
Luxury Yacht Sinks Off Sicily: Tech Tycoon Among Missing
A luxury yacht sank off Sicily's coast during a violent storm, leaving six people missing, including British tech entrepreneur Mike Lynch. Divers face challenges in searching the wreck at 49 meters depth.
Google Inks Solar Power Deal with Energix for AI Data Centers
Energix Renewables partners with Google to supply solar power and renewable credits for AI data centers. The deal, leveraging Biden's climate act, includes 1.5GW peak development with expansion potential.
Yacht Disaster off Sicily: Tech Mogul Among Missing, Rescue Efforts Continue
A luxury yacht sank off Sicily's coast, leaving six missing, including a British tech entrepreneur. Rescue efforts are ongoing as survivors recount harrowing experiences during the storm.
Luxury Yacht Sinks Off Sicily: Tech Mogul Among Six Missing
A 56-meter luxury yacht sank off Sicily's coast during a violent storm, leaving six people missing and one dead. Rescue efforts continue for the missing, including British tech entrepreneur Mike Lynch.
Economics Professor Alan Taylor Joins Bank of England's Monetary Policy Committee
Alan Taylor, an expert in international economics and financial crises, has been appointed to the Bank of England's Monetary Policy Committee. The British-born Columbia University professor will start his role on September 2, 2024.
U.S. Retail Sales Surge Despite Economic Concerns
July saw a surprising 1% rise in U. S. retail sales, the largest in two years, easing recession fears. However, financial strain on lower-income households and mixed corporate outlooks paint a complex economic picture.
Gulf Markets Rise on U.S. Inflation Data, Fed Rate Cut Expectations
Gulf stock markets showed positive trends following benign U. S. inflation data. Traders anticipate Federal Reserve rate cuts in September, impacting Gulf Cooperation Council monetary policies.
UBS Tackles Credit Suisse Integration, Faces Growth Hurdles
UBS reports progress in Credit Suisse integration and cost-cutting, but faces challenges in wealth management growth. The bank's valuation remains steady amid uncertainties about its future performance.
Tech Giants Face Market Cap Slump Amid AI Investment Concerns
Major tech companies experienced significant market cap declines in July 2024 due to disappointing Q2 results and concerns over AI investments. Apple and Tesla bucked the trend with notable increases.