2020-09-22@10:42:55 GMT
42 results - (0.000 seconds)

Morgan Stanley:

    TipRanks Morgan Stanley Bets on These 3 Stocks; Sees Over 40% Upside Did the stock market’s epic rally just need a little breather? The last few weeks have seen stocks experience their first meaningful correction since the bull market kicked off in March. Now, the question swirling around the Street is, will the rally pick back up again, or is more downside on the way?According to Morgan Stanley’s chief U.S. equity strategist Mike Wilson, uncertainty regarding the presidential election and stalemate on the next stimulus package could lead to declines in September and October. “On the correction, there’s still downside as markets digest the risk of congressional gridlock on the next fiscal deal. While we think something will ultimately get...
    TipRanks Morgan Stanley Bets on These 3 Stocks; Sees Over 40% Upside Did the stock market’s epic rally just need a little breather? The last few weeks have seen stocks experience their first meaningful correction since the bull market kicked off in March. Now, the question swirling around the Street is, will the rally pick back up again, or is more downside on the way?According to Morgan Stanley’s chief U.S. equity strategist Mike Wilson, uncertainty regarding the presidential election and stalemate on the next stimulus package could lead to declines in September and October. “On the correction, there’s still downside as markets digest the risk of congressional gridlock on the next fiscal deal. While we think something will ultimately get...
    New York may move state colleges with COVID-19 spikes to remote learning: Cuomo Costco, Trader Joe’s, Aldi: How do they stay so cheap? No, this time isn’t different. Trust cyclical stocks, Morgan Stanley argues. THE TELL © iStockphoto This picture of a washing machine is a clever play on words, since Whirlpool is one of the biggest stock gainers since March, and since it also reminds you to invest in cyclicals. After a big runup through most of the year, broad stock indexes are likely to be “range-bound,” analysts at Morgan Stanley said in a recent note. That means that for all the discussion about investors sticking with broad index strategies, the only upside to be made now is...
    A Chinese bank employee counts 100-yuan notes and U.S. dollar bills at a bank counter in Nantong in China's eastern Jiangsu province on August 6, 2019.STR | AFP | Getty Images Increased foreign investment into Chinese markets could boost the usage of the yuan, pushing it to become the third largest reserve currency in the world — behind only the U.S. dollar and the euro, Morgan Stanley analysts predicted in a report distributed Friday.  The forecast comes as the Chinese government has been trying for years to promote the international use of the yuan, also known as the renminbi (RMB).  Right now, the yuan accounts for about 2% of global foreign exchange reserve assets, the report pointed out. But it could...
    Over 360 of fires are burning across California, one person is dead. Heres what we know. How It Feels to Close Your Restaurant for Good From Goldman Sachs to Morgan Stanley, heres what bulge-bracket banks are paying their first-year IB analysts You can make bank in these investment banking jobs. © Crystal Cox/Business Insider First-year analysts at top investment banks take home enviable salaries and bonuses every year. Crystal Cox/Business Insider Bulge-bracket banks like Goldman Sachs, Wells Fargo, and UBS pay their first-year IB analysts $91,000 per year (not including bonuses) on average, according to data from the website Wall Street Oasis. Load Error But, which specific banks pay the most, and which pay the least? How much...
    A woman using a smartphone walks past an Apple store in Shanghai, China, May 9, 2019.Qilai Shen | Bloomberg | Getty Images Apple has "significant iPhone upgrade potential" in China ahead of the launch of its its next flagship smartphone, Morgan Stanley said in a note on Wednesday.  Analysts at the investment back said that just over 68% of the iPhone install base in China is comprised of devices that are at least 2 years old. That's up nearly 8 percentage points from last year, and more than 20 percentage points from 2017, according to data collected by Morgan Stanley.  "In our view, this speaks to the significant iPhone upgrade potential in China, the largest in at least 4 years,...
    Will Dissly’s return to field with Seahawks like “Christmas morning” after Achilles recovery How Covid-19 is transforming grocery e-commerce in Dubai Morgan Stanley just picked this years best safe-haven currency The U.S. dollar fell to a 27-month low on Tuesday against a basket of its peers, where the dollar index reached 92.477 ⁠— a level not seen since May 2018 as investors took on more risk. The dollar is expected to be the best safe-haven currency bet this year because lower interest rates in the U.S. make it a more attractive source of funding for carry trades, Morgan Stanley analysts said.  The world's reserve currency benefited from a flight-to-safety earlier this year, which drove the greenback to a three-and-a-half...
    Alena Vikhareva | iStock | Getty Images The Japanese yen and Swiss franc remain relatively safe bets, Morgan Stanley said Tuesday, but the investment bank picked the U.S. dollar as the best safe-haven currency in what's left of turbulent 2020. The greenback fell to a 27-month low on Tuesday against a basket of its peers, where the dollar index reached 92.477 ⁠— a level not seen since May 2018 as investors took on more risk. The S&P 500 rose to its highest level ever after regaining all of its coronavirus-related losses, having rallied more than 54% from its March low.  "We expect the US dollar (USD) to be the best safe-haven currency, especially now that lower US rates make it a more...
    Felix Cash vs. Jason Welborn: Time, TV channel and live stream for Fight Camp Week 3 In Quarantine, Ellie Kemper Is Re-Thinking Her Self Care Routine Tesla Shares Extend Gains After Morgan Stanley Upgrade Linked To Battery Business Tesla Inc. shares extended gains Friday, pulling to shares past $1,680 in pre-market trading, after analysts at Morgan Stanley boosted their rating and price target for the clean energy car company based on the potential of its battery business. © TheStreet Tesla Shares Extend Gains After Morgan Stanley Upgrade Linked To Battery Business Morgan Stanley analyst Adam Jonas cited the potential for a buildout of the group's battery business, which founder and CEO Elon Musk touted late last...
    Inside LFA with Ron Kruck: Looking back on Championship July, ahead to Phase II Dermatologists Say These Are the *Best* Face Washes for Acne-Prone Skin 2 Auto Giants Seen Leading Tesla in Electric Vehicles Even in 2040 The market for electric vehicles is still in its infancy in 2020, but overall market penetration is set to surge in the next two decades. Amazingly, there still appears to be room in the world for the combustion engines of yesteryear. Some of the top carmakers today may have a lot of catching up to do on their electrification plans. A report from Morgan Stanley looks far out in the future regarding battery-electric vehicles, to 2040 specifically. The firm sees this vehicle...
    A woman wearing a protective mask walks near a mural that reads 'WELCOME BACK NYC' as the city continues Phase 4 of re-opening.Cindy Ord | Getty Images Entertainment | Getty Images There is one big difference between the current coronavirus-led economic downturn and the 2008 global financial crisis and it could drive up consumer prices in a way that most investors are not expecting, according to analysts at Morgan Stanley. Advanced economies have grappled with subdued inflation over the last decade. This means a gradual increase in prices, which is deemed healthy in economic terms, has failed to take place. As a result, central bankers have kept interest rates low since 2008 in an attempt to create price inflation. But, their...
    Racing Point boss says Formula One COVID-19 code may need tightening My Two-Year-Old Tested the New Lovevery Play Kit Subscription Box After a record plunge from April to June, the US economy is set to bounce back, but not all the way © Provided by Business Insider A customer pays for his purchase in the doorway of Dave's New York, a retail store, as phase one of reopening after lockdown begins, during the outbreak of the coronavirus disease (COVID-19) in New York City, New York, U.S., June 8, 2020. Brendan McDermid/Reuters US gross domestic product (GDP) fell at a record 33% annualized rate in the second quarter, meaning the coronavirus pandemic has officially led to the worst GDP...
    Indians edge White Sox in opener of doubleheader These Adorable Lunch Boxes for Kids Are Perfect for Family Picnics Altice Sells Lightpath Stake to Morgan Stanley for $2.3 Billion (Bloomberg) -- Broadband provider Altice USA Inc. agreed to sell nearly half its Lightpath fiber business to Morgan Stanley Infrastructure Partners for about $2.3 billion. © Bloomberg Light trails from network switches illuminate fiber optic cables, center, and copper Ethernet cables inside a communications room at an office in London, U.K., on Monday, May 21, 2018. The Department of Culture, Media and Sport will work with the Home Office to publish a white paper later this year setting out legislation, according to a statement, which will also seek to force...
    (COMBO) This combination of pictures created on July 07, 2020 shows (L-R) Facebook CEO Mark Zuckerberg in Paris on May 23, 2018, Google CEO Sundar Pichai Berlin on January 22, 2019, Apple CEO Tim Cook on October 28, 2019 in New York and Amazon Founder and CEO Jeff Bezos in Las Vegas, Nevada on June 6, 2019.Getty Images The drumbeat to break up the biggest technology companies is getting louder, but Morgan Stanley Vice Chairman Robert Kindler isn't playing that tune. Kindler, who is also Morgan Stanley's global head of mergers and acquisitions, told CNBC's A View from the Top that breaking up the biggest technology companies "doesn't make any sense." In particular, he says, Amazon's lower prices and same-day deliveries...
    Healthcare workers move a patient in the Covid-19 Unit at United Memorial Medical Center in Houston, Texas Thursday, July 2, 2020.Mark Felix | Getty Images The spread of the coronavirus could be elevated this fall with as many as 150,000 daily cases in the U.S., according to Morgan Stanley's biotechnology analyst Matthew Harrison. "We update our scenarios to account for the higher sustained infection rate," Harrison said in a note Thursday. "Our bull [most optimistic] case reflects similar virus control to Europe while our base [most likely] case assumes a near-term plateau followed by increased spread in the fall. [About] 150,000 daily new cases are possible without better control of the virus." Harrison previously projected a "second wave" in the...
    New York (CNN Business)Former Morgan Stanley financial adviser Michael Carter was charged with fraud Monday for allegedly stealing around $6 million from investors over a period of 12 years.Carter, 47, allegedly stole from victims including an elderly investment advisory client who had been saving a college fund for her grandchildren and from people he knew "through familial ties and friendship," according to a complaint brought by the Securities and Exchange Commission. The complaint alleges he used the money to fund an expensive lifestyle that included a luxury car and large home mortgage.Carter has not yet entered a plea in response to the SEC's charges. Federal criminal charges were also leveled against Carter, to which he pleaded guilty on Monday, according...
    Yessenia Funes2 hours ago•Filed to:DIRTY MONEYDIRTY MONEYBANKSFOSSIL FUELSOIL AND GASINVESTMENT2SaveA sign hangs from Morgan Stanley’s New York City headquarters on June 21, 2006.Photo: Mario Tama (Getty Images) Fossil fuels are increasingly an unattractive investment. On Monday, Politico reported that Morgan Stanley will be the first U.S. bank to begin disclosing how much its fossil fuel loans investments contribute to climate change. This is only the latest in a string of decisions banks have made around the oil and gas industry. After pressure from members of the Gwich’in Nation in Alaska, several banks had begun to pull their funding of various fossil fuel projects. That’s only the beginning, though. Since late last year, the oil and gas industry has put...
    FILE Image: Pedestrians are mirrored in the window as clients perform transactions at a Bank of The united states ATM in Washington July 19, 2011. REUTERS/Kevin Lamarque/File Picture (Reuters) – Retail investing is possessing a minute. Significant U.S. brokerages that documented quarterly benefits this 7 days cheered the self-directed working day trading happening on their platforms as men and women with a bit of further dollars and time on their palms for the duration of the coronavirus pandemic have been participating more in markets. Financial institution of The usa Corp’s (BAC.N) self-directed investment decision platform Merrill Edge observed buying and selling quantity rise 184% and new accounts up 13% all through the next quarter. It now has just about 3...
    A Goldman Sachs sign is seen on at the company's post on the floor of the New York Stock Exchange.Brendan McDermid | Reuters It doesn't look like Wall Street is going back to work in any great numbers, at least any time soon. That seems to be the message from major money center banks with large trading operations. Morgan Stanley, Goldman Sachs, Citigroup, JPMorgan, and Bank of America have all reported this week, as has Wells Fargo, which does not have a substantial trading operations but also has many banking employees in offices all over the country. So far, few employees — traders or otherwise — have returned to their desks. JP Morgan said 80% of employees were still working...
    A woman rides past the New York Stock Exchange (NYSE) on July 13, 2020 at Wall Street in New York City.Johannes Eisele | Getty Images Here are the companies making headlines in midday trading: Morgan Stanley — Shares of the bank rose 4% after it reported strong trading revenues and better-than-expected earnings for the second quarter. CEO James Gorman told CNBC that the bank was well-positioned to possibly increase its dividend and resume buybacks in 2021.  Peloton — Shares of the stationary bike maker fell more than 3% following a downgrade to neutral from buy at UBS. The Wall Street firm said the stock is fairly valued and UBS sees limited upside for the stock that has already gained more...
    VIDEO3:4803:48Morgan Stanley CEO James Gorman on when bank plans to resume buybacksSquawk on the Street Fresh off posting a record quarterly profit, Morgan Stanley CEO James Gorman said that his bank should be able to boost its dividend and resume stock buybacks next year. The bank is "already sitting on $6 billion to $10 billion of excess capital" so far, a figure that will swell to $10 billion to $15 billion by year-end, Gorman said Thursday in a CNBC interview. "Yeah, we need to do something with it," Gorman said, citing investments in technology and growth in his retail and institutional businesses. "We also should increase our dividend and we should be back on the buyback trail. Not just yet,...
    The market and the economy are out of sync, and that was a recipe for success at Morgan Stanley. The Wall Street giant’s chief James Gorman delivered a blowout quarter to investors on Thursday, riding an unprecedented market rally in the second quarter even as the US economy got slammed with record unemployment and business failures amid the raging coronavirus pandemic. The New York-based rival to Goldman Sachs trounced Wall Street estimates with earnings per share of $1.96 and posted a record profit of $3.2 billion, up 45 percent from a year earlier. Providing a major boost to Morgan Stanley’s bottom line was the fact that the megabank doesn’t do consumer lending. The big commercial banks — JPMorgan Chase,...
    The market and the economy are out of sync, and that was a recipe for success at Morgan Stanley. The Wall Street giant’s chief James Gorman delivered a blowout quarter to investors on Thursday, riding an unprecedented market rally in the second quarter even as the US economy got slammed with record unemployment and business failures amid the raging coronavirus pandemic. The New York-based rival to Goldman Sachs trounced Wall Street estimates with earnings per share of $1.96 and posted a record profit of $3.2 billion, up 45 percent from a year earlier. Providing a major boost to Morgan Stanley’s bottom line was the fact that the megabank doesn’t do consumer lending. The big commercial banks — JPMorgan Chase, Bank...
    James Gorman, chairman and chief executive officer of Morgan Stanley, appears on CNBC's Squawk Box at the 2020 World Economic Forum in Davos, Switzerland on Jan. 22nd, 2020.Adam Galici | Getty Images Morgan Stanley on Thursday posted second-quarter results that blew past analysts' estimates on stronger-than-expected trading revenue. The bank generated record profit of $3.2 billion, or $1.96 a share including an 8 cent per share expense tied to taxes, exceeding the $1.12 a share estimate of analysts surveyed by Refinitiv. Revenue climbed roughly 30% to a record $13.4 billion, a surprise increase that exceeded expectations by a full $3 billion. Shares of the bank were up 0.6%  in premarket trading. Morgan Stanley, which is essentially a global investment bank paired...
    VIDEO0:4900:49US stocks set to slide at openMorning Report Take a look at some of the biggest movers in the premarket: Morgan Stanley (MS) – The investment firm earned $1.96 per share for the second quarter, well above the $1.12 a share consensus estimate. Revenue also beat forecasts. Morgan Stanley saw net revenue and net income rise to record levels, helped by strong trading results. Bank of America (BAC) – The bank reported quarterly earnings of 37 cents per share, beating consensus estimates by 10 cents a share. Revenue also came in above forecasts. Bank of America added $4 billion to its loan loss reserves, bringing the total to $5.1 billion, joining other banks in preparing for a jump in credit...
    China's President Xi Jinping and U.S. President Donald Trump attend a welcome ceremony at the Great Hall of the People in Beijing on Nov. 9, 2017.Nicolas Asfouri | AFP | Getty Images China is unlikely to use its currency aggressively as a tool against the U.S., even if tensions continue to ramp up between the two economic giants, Morgan Stanley's chief economist told CNBC. "I think there's another trend that's emerging ... China doesn't want its currency to be that volatile, or be seen to be a currency which is not seen to be stable enough to be a long time venue for being a reserve currency," Morgan Stanley's Chetan Ahya told CNBC on Thursday. The U.S. dollar is currently...
    A Surgutneftegas worker near pumpjacks in Surgut Region of the Khanty-Mansi Autonomous Area - Yugra, in the West Siberian petroleum basin.Alexei Andronov | TASS via Getty Images Analysts at Morgan Stanley believe the ratio between two of the world's most-watched commodities is "worth highlighting," saying it may be of interest to those seeking guidance on the direction of oil prices. "The oil-gold ratio has historically been a poor indicator of future oil prices," Morgan Stanley's Martijn Rats and Amy Sergeant said in a research note published Monday. "However, it is interesting at its extremes." Crude futures tend to be supported during periods of high inflation, while gold is traditionally used as a hedge against inflation. This positive correlation...
    With time to kill, angler smashes 62-year-old lake trout record How to Use a Foot File to Smooth Rough Soles Stocks making the biggest moves midday: Walgreens, Delta, Kohls, F5 Networks, Exxon & more Here are the stocks making the biggest moves midday. © Provided by CNBC A Delta Airlines aircraft flies into San Diego International Airport (SAN) in San Diego, California, U.S., on Monday, April 27, 2020. Walgreens Boots Alliance — Shares of retail and pharmacy chain plunged nearly 10% after the company missed earnings expectations for its fiscal third quarter. Walgreens reported adjusted earnings of 83 cents per share, 34 cents below what analysts surveyed by Refinitiv were expecting. The company raised its dividend, but suspended buybacks and...
    A Delta Airlines aircraft flies into San Diego International Airport (SAN) in San Diego, California, U.S., on Monday, April 27, 2020.Bing Guan | Bloomberg | Getty Images Here are the stocks making the biggest moves midday. Walgreens Boots Alliance — Shares of retail and pharmacy chain plunged nearly 10% after the company missed earnings expectations for its fiscal third quarter. Walgreens reported adjusted earnings of 83 cents per share, 34 cents below what analysts surveyed by Refinitiv were expecting. The company raised its dividend, but suspended buybacks and gave forward guidance that was below expectations.  United, Delta, American — Airline stocks fell on Thursday as investors worried about the continued impact of the coronavirus pandemic on the travel industry. Shares of...
    Holder takes 6-42 as West Indies dismiss England for 204 Huda Beauty’s First-Ever Mascara Is Like Its Beloved Falsies in a Tube Ciscos stock rises after Morgan Stanley turns bullish, citing durable earnings growth and valuation MARKET PULSE Shares of Cisco Systems Inc. (csco) rallied 1.1% in midday trading Thursday, to buck the broad-market selloff, after Morgan Stanley analyst Meta Marshall turned bullish on the networking giant, citing attractive valuation, durable earnings growth and potential tailwinds. The stock was the best performer of the two of 30 Dow Jones Industrial Average (djia) components that were gaining ground, as the Dow tumbled 494 points, or 1.9%. Marshall raised the rating to overweight, after being at equal weight since February 2019,...
    Alex Bregman sits out due to COVID-19 test delay 15 Platform Beds to Elevate Your Bedroom Style Underneath the global stock market’s impressive rebound, investors still doubt prospects for V-shaped recovery, says Morgan Stanley THE TELL © European Pressphoto Agency Don’t believe the hype that markets have baked in a V-shaped recovery. Load Error Analysts at Morgan Stanley note the sharp run-up in stock and corporate bond markets worldwide since March has led many to conclude that over-optimistic investors have already priced in a swift recovery from the coronavirus-driven recession. But in a Wednesday note, they argue that there’s plenty of ways financial markets are reflecting a more bearish investor than the impressive rebound in risk assets...
    A staff member checks a customer's temperature at an Apple Store entrance during phase one of reopening after lockdown from the COVID-19 outbreak in New York City, New York, U.S. June 17, 2020.Brendan McDermid | Reuters The vast majority of Apple stores closed due to the Covid-19 pandemic are located in the United States, according to a new analysis from Morgan Stanley.  100 Apple retail stores were closed around the world at the end of last week, and 92 were located in the United States, according to the note. Apple has 510 stores worldwide and 271 stores in the United States. Apple was one of the first major companies to close its retail stores during the pandemic, and the company...
    People wearing protective masks walk along the Jubilee Bridge at the Marina Bay waterfront on June 7, 2020 in Singapore.Suhaimi Abdullah | Getty Images Morgan Stanley is bullish on Singapore stocks and expects as much as 14% returns for the MSCI Singapore index over the next 12 months. In fact, investors could increasingly be looking to Singapore as a safe place to invest in as uncertainty roils the region, the investment bank said. "We could see inflows supported by a growing of perception of Singapore as a safe haven amid geopolitical and economic uncertainties in the region," analysts Wilson Ng and Derek Chang wrote in a report last week. Covid-19 has ravaged economies worldwide, and Asia-Pacific nations have not been...
    VIDEO1:1801:18News Update – Pre-MarketsNews Briefing Check out the companies making headlines before the bell: Carnival – Carnival's debt rating was cut to "junk" by Standard & Poor's, which is forecasting continued weak demand for the cruise industry due to the Covid-19 pandemic. Dell Technologies – Dell is exploring options for its $50 billion stake in cloud computing company VMWare, according to the Wall Street Journal quoting people familiar with the matter. Those options could include both selling the stake, or buying the portion of VMWare that it doesn't already own. Winnebago – The recreational vehicle maker lost 26 cents per share for its latest quarter, smaller than the 45 cent loss that analysts were predicting. Revenue was well above estimates, despite...
    (Bloomberg) – Lipsticks, 5G mobile networks and childcare centers represent some examples of how the coronavirus is altering consumer behavior, according to an analysis of Morgan Stanley’s investments in life after the pandemic. The findings were detailed in a 90-page report by analysts, economists, and strategists from the New York Bank’s analysis department. Here is a selection: Single-family homes The crisis is accelerating trends in US housing that were already present, including growth in single-family homes, according to Richard Hill. The analyst recommends Invitation Homes Inc. for its high-quality assets and says that these types of real estate investment trusts can outperform apartments. Focus on meditation With people locked up in their homes, eating from stress is on the rise....
    Morgan Stanley's former diversity chief is suing the company for racial discrimination after she claims she was fired over her attempts to restructure a training program to promote black financial advisers.   Marilyn Booker worked for Morgan Stanley for 26 years, including 16 as the bank's head of global diversity, before being fired in December, according to a lawsuit filed in Brooklyn federal court on Tuesday.  In the suit Booker claims that the company has spent years blocking efforts to address inequalities within its ranks while publicly championing diversity and inclusion, particularly in recent weeks in the wake of George Floyd's death.   'Rather than seriously examine its own role in perpetuating inequalities in hiring, pay and promotion, and in fostering toxic workplace cultures...
    The former head of diversity at Morgan Stanley is suing the firm and two of its top executives, including CEO James Gorman, for racial and gender discrimination. According to the lawsuit, which was filed on Tuesday, Marilyn Booker was fired in December after pushing for a plan that she said would help promote career advancement for Morgan Stanley's black employees. The suit alleges that Booker's firing reflects a pattern of widespread discrimination against black and female employees at the investment bank. "Clearly, black lives did not matter at Morgan Stanley," the suit states. Trending News A second stimulus check? Here's how much you could get Restaurants again shutting their doors as coronavirus flares As states reopen, black workers' lives are...
    The investment bank Morgan Stanley is being sued by its former head of diversity, who claims its senior, “white male-centric leadership” refused to adopt her plan to address racial bias at the firm, and instead fired her in December. Marilyn Booker headed diversity at Morgan Stanley from 1994 to 2010 before taking on a project known as the Urban Markets Group, which sought to promote money management in inner cities by connecting minority financial advisers to minority communities. However the program was rendered ineffective after it was steadily stripped of its budget, with 71 per cent of its budget being removed by 2019, Booker said in a lawsuit filed on Tuesday and reported by the Financial Times, Fortune and other...
    One week after James Gorman announced that Morgan Stanley would diversify its leadership and spend millions to raise up its black executives, a woman who spent 16 years in charge of diversity at the firm called him a hypocrite. Marilyn Booker, a 26-year Morgan Stanley veteran who left in December, is suing the $895 billion financial services firm, Gorman and Chief Administrative Officer Barry Krouk for racial discrimination. “Black lives did not matter at Morgan Stanley,” Booker claims in her Brooklyn federal lawsuit. Booker said she was hampered from doing her jobs for years, including budget cuts so severe that she had to dip into her own pocket for events. To add insult to injury, she was unceremoniously fired in...
    During her nearly three-decade tenure at Morgan Stanley, Marilyn Booker fought to address the systemic racial discrimination that she says ran rampant at the global banking giant.  Booker, a Black woman who spent the last 16 years of her career as the bank’s first Global Head of Diversity, tried to convince the firm’s executives every year to establish diversity programs—but she says senior leaders refused to even listen to her plans.  Then, after years of service with no performance issues, Booker said she was fired in December 2019 without warning and told her position, designed to help people of color, was being eliminated. “Clearly, Black lives did not matter at Morgan Stanley,” a lawsuit filed by Booker Tuesday against Morgan...
    Morgan Stanley Chief Executive James Gorman has been so moved by the protests that have gripped New York City that he’s shaking things up at his firm, he said Tuesday. In an internal e-mail shared on LinkedIn, Gorman, 61, wrote that the death of George Floyd at the hands of Minneapolis police and the ensuing global outrage has pushed him to promote two black women at the $895 billion bank, create a new $25 million institution inside Morgan Stanley dedicated to diversity and donate $5 million to the NAACP. “This week will not be easily forgotten in history, and it shouldn’t be. God-willing, it will be seen as a turning point in race relations,” Gorman wrote. “The pain, fear, sadness...