Morgan Stanley said it will buy discount brokerage E-Trade Financial Corp in a stock deal worth about £10.7bn ( $13bvillion), the biggest acquisition by a Wall Street bank since 2008 financial crisis. Morgan Stanley CEO James Gorman enters into an ambitious course with a $13billion e-trade deal. In 2009 Morgan Stanley purchased Smith Barney…
More is an eloquent and detailed new history of the global economy from Philip Coggan, a senior economist journalist, and former Financial Times columnist – is very concerned that what compound economic growth has achieved is not even generally appreciated. More takes us through the development of the world economy starting with the first obsidian…
There is a scandal in the Wealth Management division of Deutsche Bank which paid £1.1m to secure the wealth management business of a senior Saudi Royal financial adviser, whose wife was paid according to an internal probe that led to two former employees being reported to criminal prosecutors. The money transfers were arranged in 2011…
The modern liberalism since 1843, The Economist has been the single most devoted and influential champion of liberalism anywhere in the world. Today, neither economic crisis at home nor permanent warfare abroad, has dimmed the Economist’s belief in unfettered markets, limited government and a free hand for the West. The history of liberalism is on…
Indian stocks wobbled on their record hype after the New York based credit rating agency, Moody’s lowered its outlook for the country to negative, citing concern over a deepening economic slowdown and insufficient government action. According to Moody “ the government’s inability to manage the slowdown, which has seen growth in gross domestic product fall…
Three Hundred thousand customers of Hargreaves Lansdown were caught in the collapse of Woodford Investment management. The Uk’s biggest online funds supermarket had championed Neil Woodford, who on Tuesday announced that he was closing his company after being fired from his own flagship fund. Hargreaves promoted Woodford fund on its best- buy list and attracted…
The world’s biggest fund manager BlackRock has achieved a record profit margin, as new clients and lower costs boosted its assets, which attracted $84bn inflows in the third-quarter, with half going to its iShare business, an ideal passive investment vehicle where Exchange-Traded Funds are engineered to meet your investment goals. Its active equity funding attracted…
Facebook’s dreams of launching a new virtual currency have hit the buffers as two more financial regulators including International Financial Stability Board and the UK’s Financial Conduct Authority said yesterday they were paying close attention to the social media company’s plans. The regulators would not allow the world’s largest social network to launch its planned…
Facebook to launch digital coin for 2.4billion online users Facebook said it would launch its own digital coin next year, allowing it 2.4 billion users to make payments over the network. Facebook will allow users to change dollars, pounds and other international currencies into crytocurrency called Libra. Facebook says the coins can then be used…
Bitcoin Billionaires is a tale of Winklevoss twins and their outrageous venture into the chaotic world of cryptocurrency bitcoin exploring the techno-ideological experiments and financial manias. Ben Mezrich, the New York Times bestselling author of the Accidental Billionaires and Bringing Down the House comes his latest Bitcoin Billionaires. Harvard educated identical twins Cameron and Tyler…