US New Home Sales Rise; Median Price Hits Record
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Jan 18- State Street Corp said on Friday it would cut about 630 jobs worldwide, lifting its stock 5 percent, as it reported a 26 percent boost in fourth-quarter net income amid pressure from some of its largest shareholders to cut expenses.
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*Bank braced for fine between 400- 500 mln stg- sources. LONDON, Jan 18- Royal Bank of Scotland will face pressure to further shrink its investment bank should an investigation into interest rate rigging show cultural failings persist in the business, political and industry sources have said.
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Jan 18- Morgan Stanley's quarterly earnings beat analysts' expectations by a wide margin on Friday, helped by a big jump in trading revenue, and the bank said it was ready to deliver better returns to shareholders.
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Jan 18- Morgan Stanley set aside 44 percent of adjusted revenue in its institutional securities business for compensation last year, down from 53 percent in 2011, Chief Financial Officer Ruth Porat said in an interview on Friday.
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Jan 18- Morgan Stanley reported a fourth-quarter profit on a surge in equity sales and trading and strong margins at its wealth management business, sending its shares up 7 percent before the bell.
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Jan 18- Morgan Stanley reported a fourth-quarter profit, driven by higher revenue at its institutional securities business. The investment bank reported income from continuing operations of $573 million, or 28 cents per share, compared with a loss of $222 million, or 13 cents per share, a year earlier.
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Jan 18- Morgan Stanley Chief Executive James Gorman said the bank has turned itself around and can meet its goals for profitability, his boldest pronouncements yet about the near-term potential for a company that has long lagged its peers.
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*Brokerage firm lifts price target to $19.50 from $13. TORONTO, Jan 18- Shares of Research In Motion Ltd rose more than 6 percent after an influential analyst raised his rating on the stock on Friday, saying that RIM's new BlackBerry 10 operating system performed as well or better than rivals in recent tests.
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*Canada pension fund manager CPPIB in talks to join bid-sources. NEW YORK/ SINGAPORE, Jan 17- Silver Lake Partners, trying to finalize a bidding group to take Dell Inc private, is in talks with the manager of Canada's pension plan and other potential investment partners, people familiar with the matter said.
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NEW YORK, Jan 17- E* Trade Financial Corp, the online brokerage firm that has been struggling to overcome years of lending losses, appointed Paul Idzik as its new chief executive on Thursday.
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The simplified plan, which takes full effect in October and applies to the 2,200 advisers who work for the Raymond James& Associates division, is more in line with the compensation models of the nation's other large brokerage firms.
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Jan 17- BlackRock Inc, the world's largest money manager, said on Thursday its fourth-quarter profit rose 24 percent, bolstered by increased investor confidence in global stock markets. Shares of New York- based BlackRock jumped 4.7 percent to $232.58, a three-year high, on the New York Stock Exchange.
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*Herbalife to report results on Feb. 19. Jan 17- Weight-loss products company Herbalife Ltd forecast fourth-quarter earnings above analysts' estimates but said it expects a temporary bump in expenses to its fight with activist hedge fund manager William Ackman.
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LONDON, Jan 17- Tycoons are shunning banks and wealth managers, preferring to put a flood of money from selling stakes in companies into property and new ventures rather than trust industries whose reputations have been battered by the global financial crisis.
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Jan 17- BlackRock, the world's largest money manager, said on Thursday its fourth-quarter profit rose 24 percent as investors moving into equities increased demand for its iShares family of exchange-traded funds. Net income at New York- based BlackRock totaled $690 million, or $3.93 per share, compared with $555 million, or $3.05 per share, a year earlier.
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*Industry expects China import duty by end-February. "There may be a short-term bounce in these stocks but I don't think it will be a long-term differentiator, because there is enough polysilicon supply in China," Edward Guinness, co-portfolio manager at Guinness Atkinson Asset Management, said.
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*The MSCI's broadest index of Asia-Pacific shares outside Japan skidded 0.4 percent in afternoon trading, building on two sessions of losses. * "Some bargain hunters come out whenever yields rise, because of the event risk tied to the question of raising the U.S. debt ceiling," said a fixed-income fund manager at a Japanese asset management firm in Tokyo.
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Shares of the bank, though, fell 2.60 percent to $26.08 on Wednesday as some analysts were disappointed with BNY Mellon's trading revenue and expense management.
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*UK retail stocks top shorts in FTSE 250. LONDON, Jan 16- Hedge funds are betting that a prolonged consumer squeeze and a further shift to online shopping could spell trouble for Britain's retail chains, and are targeting some of its best-known electrical, clothes and supermarket stores.
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Goldman bond underwriting business revenues grew 50 percent. JPMorgan's 79 percent. Can they keep this up?