Tuesday, January 20, 2015

Morgan Stanley income rises despite 'choppy market' - BBC News

US banking giant Morgan Stanley has seen net income more than double after lighter legal fees relating to mortgage-backed securities.

Fourth-quarter earnings for 2014 were $903m (£596m), or 40 cents a share, compared with $336m a year earlier.

The bank's legal expenses were $284m, down from $1.4bn a year earlier.

However, the bank said overall performance had been affected by "choppy market conditions" in the quarter.

Read the full article here.

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