'I still consider myself a missionary' - Pope Leo XIV in past interviews
Before becoming Pope Leo XIV, Cardinal Robert Prevost shared rare insights on faith, unity, and modern challenges in a few candid interviews.
Morgan Stanley is set to lay off approximately 2,000 employees later this month, representing roughly 2% to 3% of its global workforce—excluding financial advisers—in an effort to improve operational efficiency, according to a person familiar with the matter.
he decision, reported by Reuters and first noted by Bloomberg News, comes as part of a broader trend among Wall Street banks, which have been reducing headcount amid an uncertain economic environment exacerbated by President Donald Trump’s recently announced tariffs against key trading partners.
At the end of 2024, Morgan Stanley employed over 80,000 people worldwide. The planned job cuts are said to be driven primarily by performance considerations and the reorganization of work locations, rather than direct impacts from current market conditions.
This move follows similar cost-cutting measures across the industry. Rival Goldman Sachs has accelerated its annual performance reviews and aims to trim its workforce by 3% to 5%, while Bank of America recently eliminated 150 junior banker roles within its investment banking division.
At a recent conference, Morgan Stanley Co-President Daniel Simkowitz acknowledged that new equity issues and merger and acquisition activity have been subdued due to policy uncertainties. However, he also noted that the firm is adding "real headcount" at senior levels within its investment banking arm, suggesting that while the bank is streamlining certain areas, it remains focused on strategic growth.
As clients continue to navigate the impact of evolving tariff policies and other market uncertainties, industry observers say that the layoffs reflect a cautious approach by financial institutions adjusting to the current economic climate.
India has fired a series of missiles into Pakistani-controlled territory, in what it has described as “Operation Sindoor”
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For the first time in history, an American has been chosen to lead the Catholic Church, as Cardinal Robert Prevost is named pope.
Chinese e-commerce platform Temu has announced it will no longer sell goods directly from China to U.S. customers, shifting instead to U.S.-based sellers amid the closure of a long-criticized customs loophole.
Cardinals from 70 nations have gathered in Vatican City to begin the historic conclave to elect the next pope, following the death of Pope Francis 17 days ago. This conclave is the most geographically diverse in Church history, showcasing Francis’ legacy of inclusivity.
Ukraine is exploring whether to replace the U.S. dollar with the euro as its reference currency, as Kyiv aligns more closely with the EU and global trade fractures deepen.
The U.S. Federal Reserve kept its benchmark federal funds rate unchanged on Wednesday, maintaining the target range at 4.25% to 4.50%, in a widely expected move as the central bank navigates a complex economic environment marked by slowing inflation, global trade tensions, and political pressure.
Ford is raising prices on three of its Mexico-made models starting May 2, becoming one of the first major automakers to react to U.S. President Donald Trump's steep auto tariffs, which are reshaping industry costs and consumer prices.
As European NATO countries rush to strengthen their armed forces, large pension bills threaten to divert funds from urgently needed military hardware.
The European Commission has presented a roadmap to ensure the EU fully ends its dependency on Russian energy, while ensuring stable energy supplies and prices across the EU.
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