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Stock Market & Financial Investment News

News Breaks
February 24, 2014
09:01 EDTTLP, MSTransmontaigne Partners enters into terminaling services agreement
TransMontaigne Partners L.P. (TLP) announced that its wholly owned subsidiary, TransMontaigne Operating Company L.P., has entered into a terminaling services agreement with an unrelated third-party effective June 1, 2014 relating to the receipt, storage and delivery of marine fuels using tanks with an aggregate capacity of approximately 1.35 million barrels at its Port Everglades and Fisher Island terminals. The tanks related to this new agreement, known as the Florida bunker tanks, were previously used by Morgan Stanley Capital Group under the Florida-Midwest Terminaling Services Agreement between TLP and Morgan Stanley (MS). The new agreement has an initial term of 2 years with options to renew thereafter. “We are pleased to complete this fee-based transaction with a high quality customer,” stated Chuck Dunlap, CEO of TLP. Morgan Stanley has been working with TLP over the last year to ensure a smooth transition to a new customer for this portion of the Florida bunker tanks. As previously disclosed, the existing agreement with Morgan Stanley for the Florida bunker tanks at these facilities, as well as at TLP’s Cape Canaveral and Port Manatee facilities, will terminate effective May 31, 2014. TLP’s management expects that the new agreement will generate slightly less revenue related to the Florida bunker tanks at Fisher Island and Port Everglades than the Morgan Stanley agreement generates with respect to those tanks. TLP is continuing to market the Florida bunker tanks at its Cape Canaveral and Port Manatee terminals.
News For TLP;MS From The Last 14 Days
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August 21, 2014
12:50 EDTMSDeutsche Bank divests natgas trading book to Morgan Stanley, Reuters says
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08:31 EDTMSMorgan Stanley, JP Morgan selected by Shake Shack to lead IPO, Reuters says
JP Morgan (JPM) and Morgan Stanley (MS) have been picked by Shake Shack to lead the fast-food restaurant chain's IPO, sources tell Reuters. The offering could come as early as this year. Reference Link
06:43 EDTMSRegulators up bank warning efforts for poor risk assessment, Reuters says
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August 20, 2014
18:29 EDTMSBofA, JPMorgan weigh plans to raise salaries for junior bankers, Bloomberg says
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August 18, 2014
06:47 EDTMSU.S. banks consider Ireland fitting spot for EU divisions, FT says
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August 15, 2014
15:48 EDTTLPNGL Energy, Transmontaigne Partners end talks regarding acquisition proposal
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15:13 EDTTLPTransmontaigne Partners trading halted, pending news
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06:48 EDTMSMorgan Stanley settles overtime pay suit with $4.2M, Reuters says
Morgan Stanley and sales assistants in the firm's wealth management division system who alleged that they were owed overtime compensation finally agreed to settle the matter with $4.2M, according to Reuters, citing comments from a company spokeswoman in an e-mail. The spokeswoman said, “Morgan Stanley maintains robust policies to ensure that non-exempt employees are paid for all time worked. However, with this settlement we will put an end to protracted and expensive litigation that is a distraction from our business.” Reference Link
August 13, 2014
06:19 EDTMSBanks pressing Federal Reserve to delay rule on investments, WSJ says
Banks are pushing U.S. policy makers for a delay of a rule that requires them to sell investments in private-equity and venture-capital funds, reports the Wall Street Journal. According to people familiar with the effort, bank officials, trade groups and lawmakers are lobbying the Federal Reserve to delay the rule for up to seven years that limits banks' investments. Reference Link
August 12, 2014
07:48 EDTMSBanks posted second-highest profit in 23 years in second quarter, WSJ says
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August 8, 2014
07:18 EDTMSRegulators direct banks to steer mortgage aid to hard-hit areas, FT says
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