Morgan Stanley, Profit | featured news

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 Returns to a Profit

The results marked a reversal of fortune for Morgan Stanley, which had reported three consecutive quarterly losses.

 

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