Bank of Canada expected to cut rates agressively
Recession “fully evident”
1,000 jobs to be cut in U.S., UK
Firm encourages aggressive interest rate cuts
But risk of domestic recession low
Morgan Stanley today announced that it has agreed to acquire a minority equity stake in NGEN Partners, LLC, a venture capital firm which invests in companies that focus on clean technologies.The firm says that its investment, which it calls the first by a major Wall Street firm in a clean technology venture firm, underscores Morgan […]
Morgan Stanley analysts predict no growth in overall GDP for the year ending in Q3 2008
Wall Street firm expects to deliver solid Q4 results in other business units
Global financial services firm Morgan Stanley today announced a restructuring of its residential mortgage business, and 600 job cuts as a result.The firm says that the restructuring is required to reflect current market conditions and to position the business for long-term growth. “The plan reduces origination capacity to a level appropriate for the existing market […]
Consumer spending could cushion impact, Morgan Stanley says