Morgan Stanley, a leading investment bank, has made a significant divestment from SAMHI Hotels, an Indian hotel operator based in Gurugram. The extent of the divestment is yet to be confirmed, but exchange data shows that various Morgan Stanley funds sold a combined total of 64.6 lakh shares on Friday.
Goldman (GS) and other banks are likely to face class-action lawsuits for colluding to drive up interest rates paid on a popular municipal bond.
Frasers Group, the UK-based retail conglomerate led by Mike Ashley, has asked a New York court to compel Morgan Stanley CEO James Gorman to provide evidence for a UK lawsuit against the bank, according to an announcement made on Friday. The lawsuit pertains to a disputed $1bn margin call related to trades in Hugo Boss, which Frasers alleges was maintained "arbitrarily" and "incorrectly" by the bank.