Morgan Stanley’s Earnings Plummet Due to Poor Trading and Dealmaking Performance

July 19, 2023

Morgan Stanley experienced a 13% drop in earnings as trading and dealmaking slowed down. However, the CEO, James Gorman, believes that the industry’s decline has reached its lowest point. The New York-based financial firm reported a second-quarter profit of $2.2 billion, falling short of last year’s $2.5 billion. While trading revenue declined by 22%, investment …

The Building at 111 Wall Street symbolizes the plight of NYC’s commercial real estate industry in a crisis.

June 12, 2023

The tower at 111 Wall St. is a symbol of the current crisis facing the commercial real-estate market in Manhattan, as well as the city itself. Despite its significant transformation from an unattractive structure into a downtown gem, the tower’s owners face significant challenges due to a decline in demand for office space. Nightingale Group …