Women's clothing chain Talbots Inc. said Tuesday that it plans a complex refinancing deal that will let it buy out its majority shareholder, lower its debt by about $330 million and continue its turnaround.
Mexico has taken out a $1bn insurance policy against oil prices falling next year, a clear signal that commodities producers remain wary about the threat of a double-dip recession.
Morgan Stanley 's James Gorman, who will succeed John Mack as chief executive next month, unveiled a series of management changes on Tuesday that reflect the bank's push to close the gap between its flagship securities business and that of its arch-rival, Goldman Sachs .
Investment banks face a thorny issue in Asia-Pacific, the fastest-growing region: how to rewardstaff who perform well. In theory, it's easy. The region has not witnessed the invective against financial industry compensation that has been unleashed against the likes of Goldman Sachs in the US and the UK's Royal Bank of Scotland.
Morgan Stanley elevated its chief financial officer to a new role as co-chief of investment banking and global securities trading Tuesday as part of a management shake-up ahead of James Gorman's assumption of the CEO role on Jan. 1.
Morgan Stanley taps executives Colm Kelleher and Paul Taubman to head its largest division, as James Gorman, the incoming chief executive officer, continues to put his stamp on the financial-services firm.
Dubai's main stock market plunged for a second consecutive day Tuesday and an international ratings agency again downgraded six state-linked companies as fresh concerns surfaced about the troubled Arab boomtown's debt woes.
Women's clothing retailer Talbots Inc reported a surprise quarterly profit on cost cuts and eased concerns regarding its ability to pay down debt, sending its shares up 7 percent.
Morgan Stanley is shuffling its executive team, moving its chief financial officer and a top banker into the roles of leading the bank's institutional securities unit.
NEW YORK----Morgan Stanley today announced a number of key leadership appointments to take effect on January 1, 2010, when James P. Gorman will become Chief Executive Officer and President of the Firm.
NEW YORK----BPW Acquisition Corp. , a publicly held special purpose acquisition company, today announced that it has entered into a definitive merger agreement pursuant to which it will be acquired by The Talbots, Inc. , a specialty retailer of women̢۪s apparel.
James Gorman, who takes over as Morgan Stanley's chief executive on January 1, plans to put finance chief Colm Kelleher and banker Paul Taubman in charge of the company's institutional securities unit, according to a source familiar with the matter.
NEW YORK----NYSE Euronext today announced trading volumes for its global derivatives and cash equities exchanges for November 20091. Trading volumes in November 2009 were mixed, with European derivatives products trading volumes increasing 16.4% and U.S. options trading volumes increasing 50.6% versus prior year. U.S. and European cash equities trading volumes, however, declined 40.4% and 10.2%, respectively, from prior year levels when increased levels of volatility drove higher cash equities trading volumes.
James Gorman, who takes over as Morgan Stanley's chief executive on January 1, plans to put finance chief Colm Kelleher and banker Paul Taubman in charge of the company's institutional securities unit, the Wall Street Journal reported citing a person familiar with the situation.
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