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With a Mall Boom in Russia, Property Investors Go Shopping

While malls appear to be past their peak in the United States, in Russia they are luring shoppers with money to spend, and investors like Morgan Stanley... Shoppers who find that 250 stores aren’t enough can go ice skating, watch movies or even ride a carousel, all under a single roof.

 

Citigroup profit drops after it writes down brokerage unit

Citigroup Inc said quarterly profit plunged on a $4.7 billion write-down of its stake in a brokerage operated by Morgan Stanley, but mortgage lending increased and capital markets results rebounded.

 

Morgan Stanley posts 2Q loss of more than $1.2B

AP - Morgan Stanley said Wednesday it lost more than $1.2 billion in the second quarter as it took charges to cover continuing losses in its real estate investments and its repayment of government bailout money.

 

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