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Stock Market & Financial Investment News

News Breaks
November 12, 2012
07:53 EDTMSMorgan Stanley sues Skowron over insider-tradng scheme, WSJ reports
Morgan Stanley (MS) sued Joseph "Chip" Skowron III, a former hedge-fund manager and onetime managing director at the bank, and said an insider-trading scheme for which he has been imprisoned cost the firm tens of millions of dollars, reports the Wall Street Journal. The bank is seeking over $65M from Skowron, a onetime manager at FrontPoint Partners, which used to be owned by Morgan Stanley. Reference Link
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July 13, 2015
06:51 EDTMSU.S. banks prepare for higher loan losses, Reuters reports
U.S. banks might begin preparing for higher loan losses in the coming quarters after falling oil prices have made oil producers more likely to default on loans, Reuters reports, citing analysts. Banks are expected to set aside money to cover bad loans when they post results over the next few quarters, the report says. Publicly traded companies in the space include Bank of America (BAC), Citi (C), Goldman Sachs (GS), JPMorgan (JPM), Morgan Stanley (MS), U.S. Bancorp (USB) and Wells Fargo (WFC). Reference Link
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