Morgan Stanley’s stock jumps after profit, revenue rise above expectations

Morgan Stanley’s stock jumps after profit, revenue rise above expectations
Shares of Morgan Stanley rallied 1.9% in premarket trade Tuesday, after the investment bank reported third-quarter profits and revenue that rose above expectations. Net income rose to $2.02 billion, or $1.17 a share, from $1.69 billion, or 93 cents a share, in the same period a year ago. The FactSet consensus for earnings per share was $1.01. Total revenue increased... Read More

Wells Fargo seeks investment firm licence from French regulator as part of Brexit strategy

Wells Fargo seeks investment firm licence from French regulator as part of Brexit strategy
Wells Fargo & Co. WFC, +2.17% said Tuesday it is seeking an investment firm licence from the French regulator as part of its Brexit strategy. “With Brexit on the horizon, Wells Fargo is committed to providing a transition, which is as seamless as possible, for its markets and investment banking customers within the European Union (EU) and European Economic Area... Read More

European Shares Mixed In Cautious Trade

European Shares Mixed In Cautious Trade
European stocks bounced back from 22-monht lows on Tuesday, although U.K. markets were trading lower as the British pound extended gains after the release of labor market data showing that U.K. wages grew faster than expected in August. The Average Earnings Index, with bonuses included, stood at 2.7 percent in the month, up from 2.6 percent in the previous month... Read More

China’s Inflation At 7-Month High

China’s Inflation At 7-Month High
China’s inflation rose to a 7-month high in September on higher energy prices, data from the National Bureau of Statistics revealed Tuesday. Consumer prices advanced 2.5 percent year-on-year in September, in line with expectations but faster than the 2.3 percent rise in August. This was the highest increase since last February. Nonetheless, inflation remains well below the government’s full year-target... Read More

Microsoft co-founder Paul Allen dies at 65

Microsoft co-founder Paul Allen dies at 65
Paul Allen, the co-founder of Microsoft Corp. MSFT, -1.80% died Monday from complications of non-Hodgkin’s lymphoma. He was 65. “While most knew Paul Allen as a technologist and philanthropist, for us he was a much-loved brother and uncle, and an exceptional friend,” his sister, Jody Allen, said in a statement. Allen announced earlier this month that his cancer, which he... Read More