Morgan Stanley to cut 300 jobs amid slowdown (Reuters via Yahoo! News)
There is currently a move towards converging and consolidating Finance provisions into shared services within an organization. Rather than an organization having a number of separate Finance departments performing the same tasks from different locations a more centralized version can be created.
Morgan Stanley to cut 300 jobs amid slowdown (Reuters via Yahoo! News)
Morgan Stanley is cutting about 300 jobs in its institutional securities division, mostly in mortgages, fixed-income trading and other businesses hardest hit by the recent market turmoil, a person familiar with the situation said on Wednesday.
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Wachovia: Unit's earnings plummet (The Charlotte Observer)
After suffering a third-quarter earnings hit in investment banking, Wachovia Corp. plans to cut about 200 jobs in the unit by year end, even as executives affirmed their commitment to the business. The Charlotte-based unit, which provides Wall Street-style services such as bond trading and merger advice, employs about 6,200 people worldwide, about 6 percent of the company's total. The reductions ...
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Communiqué of the International Monetary and Financial Committee of the Board of Governors of the International ... (IMF)
1. The International Monetary and Financial Committee held its sixteenth meeting in Washington, D.C. on October 20, 2007 under the Chairmanship of Mr. Tommaso Padoa-Schioppa, the Minister of Economy and Finance of Italy.
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Morgan Stanley Cuts 300 Jobs in Securities Division (Update2) (Bloomberg.com)
Oct. 17 (Bloomberg) -- Morgan Stanley, the world's second- biggest securities firm, is eliminating about 300 jobs after third-quarter revenue from fixed-income fell 3 percent, said a person familiar with the decision.
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The Mother of All Bailout Funds (BusinessWeek)
Prodded by Treasury Secretary Henry Paulson, the top three U.S. banks—Citigroup ( C ), Bank of America ( BAC ), and JPMorgan Chase ( JPM )—on Oct. 15 set up an $80 billion entity that will serve as a buyer of last resort for some 30 "structured investment vehicles," or SIVs.
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Mass. proposal not enough to lure life sciences project (Boston Globe)
Massachusetts appears to have lost out on attracting a key life sciences project to the state. Kofi Jones, a spokeswoman for the Executive Office of Housing and Economic Development, said the state's package of economic incentives was not enough for the unnamed company, which decided to look elsewhere. Peter Abair, director of economic development for the Massachusetts Biotechnology Council, ...
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IMF Survey Magazine: In the News (IMF)
A panel of leading economists, speaking at the launch of a series of IMF-World Bank seminars, grappled with the implications of the financial market turmoil for financial globalization and the health of the world economy.
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JPMorgan cuts jobs in leveraged finance (Reuters via Yahoo! News)
JPMorgan Chase & Co said on Thursday it was making modest staff reductions in areas that include structured credit and leveraged finance.
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Enterprise Awarded $100 Million in New Markets Tax Credits (PR Newswire via Yahoo! Finance)
Enterprise Community Investment, Inc. today announced the company was awarded $100 million in additional New Markets Tax Credits by the U.S. Treasury Department's Community Development Financial Institutions Fund .
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JPMorgan Chase to Eliminate 100 Jobs (Multi-Housing News)
New York -- The credit crisis has claimed more victims: JPMorgan Chase will cut 100 jobs, the Financial Times reports. Nearly 10 percent of the cuts will be in JPMorgan's credit business -- with an emphasis on leveraged finance and structured credit.
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Morgan Stanley to cut 300 jobs amid slowdown (Reuters via Yahoo! News)
It studies: Valuation - Determination of the fair value of an asset How risky is the asset? (identification of the asset appropriate discount rate) What cash flows will it produce? (discounting of relevant cash flows) How does the market price compare to similar assets? (relative valuation) Are the cash flows dependent on some other asset or event? (derivatives, contingent claim valuation)
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