New Delhi: Five global financial services majors, including Morgan Stanley, Stanchart and Citi, have lowered India's growth prospects to 5.7-6.4 per cent for the current fiscal, a day after markets received a "shock" from nine-year low GDP growth of 6.5 per cent for 2011-12. In their reports to clients worldwide, most of them blamed policy inaction by the government as a major roadblock to the Indian economy, which had expanded...
12:39 AM, Jun 02, 2012
Morgan Stanley has cut India's 2012 economic growth forecast to 6.3 per cent from prior 6.9 per cent; 2013 forecast to 6.8 per cent from 7.5 per cent. On a financial year basis, Morgan Stanley expects FY13 growth at 6.3 per cent and FY14 growth at 6.9 per cent. "Bad" growth mix - a combination of high national deficit and an expansionary policy of supporting consumption while private investment slows...
03:11 PM, May 21, 2012
New York: Facebook Inc priced its initial public offering at the top of its target range to raise more than $16 billion, as strong demand, particularly from retail investors, fuels anticipation of a big pop in the stock when it begins trading on Friday on the Nasdaq. Predictions of how much the stock will rise on its first day of trade vary greatly - some experts said the high IPO...
03:11 AM, May 18, 2012
Ruchir Sharma, the author of the new path-breaking book 'Breakout Nations', explains why India cannot be a success story in the future. ...
11:57 PM, Apr 30, 2012
Hedge funds and professional investors are always looking for countries with lower interest rates where borrowing is cheaper and then invest the same in countries with higher interest rates. Earlier, it was the Japanese yen that gave them this opportunity. After the Lehman crash, the dollar became the funding currency of choice. Investors sold dollars where interest rates were low and purchased currencies like the Indian rupee where the interest...
11:42 AM, Feb 22, 2012
San Francisco: Facebook plans to file documents as early as Wednesday for a highly anticipated IPO that will value the world's largest social network at between $75 billion and $100 billion, the Wall Street Journal cited unidentified sources as saying on Friday. Morgan Stanley is a strong front-runner to be the lead underwriter on what would be one of the largest initial public offerings in US history, the Journal cited...
10:05 AM, Jan 28, 2012
New York: Financial services giants Goldman Sachs and Morgan Stanley are said to be the front-runners for the role of lead investment banker in Facebook's much-awaited blockbuster initial public offering next year, a media report said. Touted as one of the biggest IPOs in over a decade, Facebook's stock sale of about USD 10 billion is expected to take place in early 2012. With the California company planning to file...
11:23 AM, Dec 30, 2011
New York: Standard & Poor's reduced its credit ratings on 15 big banking companies, mostly in the Europe and the United States, on Tuesday as the result of a sweeping overhaul of its ratings criteria. JPMorgan Chase & Co, Bank of America Corp, Citigroup Inc, Wells Fargo & Co, Goldman Sachs Group Inc, Morgan Stanley, Barclays Plc, HSBC Holdings Plc, Royal Bank of Scotland Group Plc and UBS AG, were...
09:53 AM, Nov 30, 2011
Raj Rajaratnam, a self-made hedge fund tycoon convicted in the biggest Wall Street trading scandal in a generation. ...
07:59 AM, Oct 14, 2011
London/Bangalore: The United States and euro zone are "dangerously close to recession," Morgan Stanley said on Thursday, criticising policymakers and predicting the European Central Bank will have to reverse its rates policy. The Morgan Stanley research note, which cut global growth forecasts, was cited by stocks traders as adding to market nervousness over the US and euro zone debt crises and the economic drag of austerity measures in debt-burdened countries....
11:15 PM, Aug 18, 2011
New York: Morgan Stanley warned on Monday that worries about the United States' lowered credit rating may have a "material adverse impact" on the bank and a broader financial market beyond what is immediately apparent. The investment bank's warning came on the first trading day after Standard & Poor's downgraded the country's long-term debt rating from a perfect AAA to an AA-plus. The ratings agency said a deal struck by...
09:59 AM, Aug 09, 2011
New Delhi: Morgan Stanley raised its price forecasts for gold and silver on Thursday, citing enhanced contagion risk from the European debt crisis and continued uncertainty over US macroeconomic outlook. The investment bank said the possibility of renewed US quantitative easing would likely support investor demand and boost the prices for safe-haven commodities. "Commodities gained in July, outperforming both equities and bonds... Precious metals led the space higher, gaining 9.5...
12:44 PM, Aug 05, 2011
New York: Raj Rajaratnam, the hedge fund boss accused of insider trading, was found guilty on Wednesday by a federal jury in New York of conspiracy and securities fraud. The conviction, announced in Manhattan federal court, is a significant victory for federal prosecutors, who have been cracking down on insider trading in the wake of the financial crisis. Rajaratnam, the founder of Galleon Group, was accused of making $60 million ...
08:02 AM, May 12, 2011
New Delhi: Tech hub Bangalore tops the list in a new Morgan Stanley report on how India's booming cities cope with problems from infrastructure to job creation, with Mumbai, India's financial capital, trailing in 21st place. Asia's third-largest economy is home to one-quarter of the world's 20 most densely populated cities but the slow pace of urban development has been a drag on economic growth. The report found that second-tier...
11:01 AM, Feb 18, 2011
New York: In what could signal a big year of Internet initial public offerings, social networking website LinkedIn Corp announced plans on Thursday to float shares to the public. The number of shares to be offered and the price range for the offering have not yet been determined, according to the form S-1 registration statement the company filed with the Securities and Exchange Commission. LinkedIn revealed its plans to raise...
11:21 AM, Jan 28, 2011
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