Morgan Stanley swings back to profit
New York - AFP
Morgan Stanley posted a better-than-expected profit for the third quarter on Wednesday, thanks in large part to an accounting revision. The company said it made $2.2 billion in the last quarter on revenues of $9.9 billion, compared to a loss in the same period last year. But the profit was largely thanks to a $3.4 billion gain on revised debt-related credit spreads -- which entails an assessment about the value of the bank's holdings. "Morgan Stanley effectively navigated turbulent markets while consolidating our market share gains with institutional clients and demonstrating resilience across the global wealth management business," said James Gorman, chief executive officer.
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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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