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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France's Carrefour revamps operations
Paris - Emiratesvoice
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Beirut - NNA
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Microsoft to open 4 data centres
Paris - Emiratesvoice
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Taipei - Emiratesvoice
North Korea's figure skaters Ryom Tai-Ok and Kim Ju-Sik are "friendly and kind and a little bit shy", South Korea's Kim Kyueun said Tuesday ahead of their hugely anticipated Olympic appearance. The skater is competing with her partner Alex Kam in theFor $11.6 Bn
Sanofi buys US haemophilia treatment
Paris - Emiratesvoice
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to 'eternal style' of late Alaia
Paris - Emiratesvoice
Two months after legendary designer Azzedine Alaia's sudden death plunged the fashion world into mourning, an exhibition in homage to the "King of Cling" opens Monday in his studios in Paris. The Tunisian-born designer, renowned for the way his clothes hugged the body, died suddenly in November aged 82, reportedly of heart failure after falling down the stairs at his home. The diminutive maverick, who ignored fashion week convention by showing when and where he wanted, in July produced his first couture collection in six years to rapturous reviews. Now some of his most iconic dresses are going on display in the glass-roofed gallery next to his studio and home in the Marais district where he used to show his creations. It includes the dress worn by supermodel Naomi Campbell, his longtime friend and muse, when she led
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