Morgan Stanley posts 2011 profit despite Q4 loss
New York - AFP
Investment bank Morgan Stanley on Thursday reported a $4.2 billion profit for 2011, amid a late year loss that was not as bad as Wall Street feared. The New York-based bank said it lost a modest $227 million in the fourth quarter, helping to pull profits for the full year down around seven percent from 2010. It has been a difficult year for the firm, with thousands of job cuts announced as well the departure of chairman John Mack. Despite the downscaling, Morgan Stanley still spent $16.4 billion on compensation. Much of the fourth quarter loss was thanks to a loss of $1.7 billion related to municipal bond insurance firm MBIA.
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Bucharest - SANA
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Moscow - TASS
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London - DPA
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Spain - DPA
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Dubai - Arab Today
Dubai-based label ASMARAÏA just launched its pre-fall 2019 collection — and it’s all about cruelty-free, sustainable fashion with a festive edge. Checkmate The 15-piece collection features this checkered skirt-and-jacket ensemble that is giving us major “Clueless” vibes. Gold Rush ‘Tis the season to sparkle and this dazzling, floor-length gold skirt will do the trick. Take note of the chic black bow detail at the waist — it’s the ultimate party look. Feathered fashion The brand works with environmentally-friendly materials such as organic cotton, recycled polyester and faux fur, so you can be sure this feathered look doesn’t come at the cost of an animal’s life. Jewel Tones If you want to glisten like a polished jewel at your next festive function, this emerald-colored skirt is the perfect choice with its sequin details and shimmery overlay. Golden Girl Leopard print
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