Azerbaijani President Ilham Aliyev addresses international conference on missing persons
Azerbaijani President Ilham Aliyev has sent a message to participants of the international conference “Combining Efforts and Expanding Cooperation f...
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.
Video from the USGS (United States Geological Survey) showed on Friday (19 September) the Kilauea volcano in Hawaii erupting and spewing lava.
At least eight people have died and more than 90 others were injured following a catastrophic gas tanker explosion on a major highway in Mexico City’s Iztapalapa district on Wednesday, authorities confirmed.
At least 69 people have died and almost 150 injured following a powerful 6.9-magnitude earthquake off the coast of Cebu City in the central Visayas region of the Philippines, officials said, making it one of the country’s deadliest disasters this year.
Authorities in California have identified the dismembered body discovered in a Tesla registered to singer D4vd as 15-year-old Celeste Rivas Hernandez, who had been missing from Lake Elsinore since April 2024.
A powerful 7.4-magnitude earthquake struck off Russia’s Kamchatka Peninsula on 13 September with no tsunami threat, coming just weeks after the region endured a devastating 8.8-magnitude quake — the strongest since 1952.
Gold prices rose above $4,000 an ounce for the first time on Wednesday, fuelled by investor demand for safe-haven assets amid rising geopolitical tensions and expectations of U.S. interest rate cuts.
U.S. shares ended Tuesday in negative territory as investors, cut off from official economic data due to the ongoing government shutdown, looked to alternative indicators and comments from Federal Reserve officials for guidance on economic weakness and monetary policy.
Elon Musk’s artificial intelligence startup xAI is targeting a $20 billion capital raise linked to Nvidia hardware, Bloomberg News has reported.
Türkiye’s benchmark stock index, the BIST 100, closed Tuesday at 10,814.11 points, up 0.74% from the previous session.
Euro zone finance ministers are set to meet on Thursday to explore ways to boost the development of euro-denominated stablecoins, amid concerns that the fast-growing market could remain dominated by the United States, a senior euro zone official said.
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