During Tuesday’s trade, Shares of Morgan Stanley (NYSE:MS), gained 1.97% to $34.97.
Morgan Stanley, plans to slash hundreds of jobs from its debt and currencies division, people familiar with the matter said, revealing that the Wall Street firm believes that a monthslong slump in trading revenue may persist.
Morgan Stanley company could eliminate as much as a quarter of the business’s workforce, the people said Monday. The cuts will occur across all of the division’s offices, and on each of the firm’s trading desks, though London is predictable to bear a slightly bigger brunt than New York, the people said.
The potential cuts reflect Morgan Stanley’s acceptance that a slowdown in client activity that took root during the summer months may not reverse any time soon. The New York firm also faces pressure from investors to lift its returns on equity that have often languished below a 10% target set by James Gorman, Morgan Stanley’s chairman and chief executive.
Morgan Stanley, a financial holding company, provides various financial products and services to corporations, governments, financial institutions, and individuals worldwide.
Shares of CNH Industrial N.V. (NYSE:CNHI), declined -1.50% to $7.20, during its current trading session.
Multi-platinum country music star Kip Moore, and his partners at CASE Construction Equipment and ASCO Equipment, brought an army of food trucks to a construction site in San Antonio to treat the workers to lunch. The jobsite, operated by contractor Bartlett-Cocke, is a new high school in the Judson Independent School District (JISD) set to open in August 2016. Moore signed autographs and posed for pictures in addition to serving up free lunch to workers.
Moore performed that night at Cowboys Dancehall in San Antonio.
“I am continually grateful for my fans, who work hard all day like these men and women do and then come out to my concerts at night,” says Moore. “I wanted to show a little token of my appreciation, and stopping by to have lunch with these guys was a blast.”
Moore has partnered with CASE on numerous projects honoring construction workers and veterans, counting the Labor of Love Music Festival, and the video for “On the Case” – a song dedicated to the men and women of the construction industry.
CASE Construction Equipment is a brand of CNH Industrial N.V., a World leader in Capital Goods listed on the New York Stock Exchange (CNHI) and on the Mercato Telematico Azionario of the Borsa Italiana (CNHI.MI).
CNH Industrial N.V. designs, produces, markets, sells, and finances agricultural and construction equipment, trucks, commercial vehicles, buses, and specialty vehicles, engines, transmissions, and axles worldwide.
Finally, Enbridge Inc. (NYSE:ENB), gained 0.79%, and is now trading at $35.73.
Enbridge, declared the acquisition of a 100 percent interest in the 103-megawatt (MW) New Creek Wind Project, from EverPower Wind Holdings, LLC. Enbridge’s total investment is about US$0.2 billion.
Located in Grant County, West Virginia, New Creek Wind will comprise 49 Gamesa G97/G90 turbines and is targeted to be in service in December 2016. The project was developed by EverPower Wind Holdings LLC., an independent U.S. renewable energy developer.
“With strong fundamentals and commercial underpinnings, the New Creek Wind Project is a strong fit within our low-risk value proposition, and advances a key corporate priority of growing our renewable generation platform,” said Vern Yu, Senior Vice President, Corporate Planning and Chief Development Officer, Enbridge Inc. “We welcome the relationship with EverPower, a safe and community-focused developer, owner and operator of U.S. wind projects.”
Enbridge Inc. operates as an energy transportation and distribution company in the United States and Canada. Its Liquids Pipelines segment operates common carrier and contract crude oil, natural gas liquids (NGL), and refined products pipelines and terminals. The company’s Gas Distribution segment operates as a natural gas utility that serves residential, commercial, and industrial customers in Central and Eastern Ontario, and Northern New York State, in addition to in Quebec and New Brunswick.