Morgan Stanley to cut 300 jobs amid slowdown (Reuters via Yahoo! News)
A specific example of corporate finance is the sale of stock by a company to institutional investors like investment banks, who in turn generally sell it to the public. The stock gives whoever owns it part ownership in that company. If you buy one share of XYZ Inc, and they have 100 shares outstanding (held by investors), you are 1/100 owner of that company. Of course, in return for the stock, the company receives cash, which it uses to expand its business in a process called "equity financing". Equity financing mixed with the sale of bonds (or any other debt financing) is called the company's capital structure.
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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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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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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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)
As a verb, "to finance" is to provide funds for business or for an individual's large purchases (car, home, etc.). The activity of finance is the application of a set of techniques that individuals and organizations (entities) use to manage their money, particularly the differences between income and expenditure and the risks of their investments.
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