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Morgan Stanley’s profits fall 9% as investment banking revenue falls

Morgan Stanley’s profits fall 9% as investment banking revenue falls

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Morgan Stanley said third-quarter profit fell 9% from a year ago, hit by a sharp decline in transactions.

Investment banking revenue fell 27% to $938 million. Fees for advising companies on mergers and acquisitions have fallen by more than 30%. The same was true for income from subscription bond issues. The bank actually recorded an increase in its share subscriptions.

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With a penchant for words, Eleon Smith began writing at an early age. As editor-in-chief of his high school newspaper, he honed his skills telling impactful stories. Smith went on to study journalism at Columbia University, where he graduated top of his class. After interning at the New York Times, Smith landed a role as a news writer. Over the past decade, he has covered major events like presidential elections and natural disasters. His ability to craft compelling narratives that capture the human experience has earned him acclaim. Though writing is his passion, Eleon also enjoys hiking, cooking and reading historical fiction in his free time. With an eye for detail and knack for storytelling, he continues making his mark at the forefront of journalism.
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