Morgan Stanley posts 2011 profit despite Q4 loss
New York - AFP
Investment bank Morgan Stanley on Thursday reported a $4.2 billion profit for 2011, amid a late year loss that was not as bad as Wall Street feared. The New York-based bank said it lost a modest $227 million in the fourth quarter, helping to pull profits for the full year down around seven percent from 2010. It has been a difficult year for the firm, with thousands of job cuts announced as well the departure of chairman John Mack. Despite the downscaling, Morgan Stanley still spent $16.4 billion on compensation. Much of the fourth quarter loss was thanks to a loss of $1.7 billion related to municipal bond insurance firm MBIA.
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France's Carrefour revamps operations
Paris - Emiratesvoice
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Singer Bruni arrives in Beirut Sunday evening
Beirut - NNA
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Microsoft to open 4 data centres
Paris - Emiratesvoice
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Taipei - Emiratesvoice
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Sanofi buys US haemophilia treatment
Paris - Emiratesvoice
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to 'eternal style' of late Alaia
Paris - Emiratesvoice
Two months after legendary designer Azzedine Alaia's sudden death plunged the fashion world into mourning, an exhibition in homage to the "King of Cling" opens Monday in his studios in Paris. The Tunisian-born designer, renowned for the way his clothes hugged the body, died suddenly in November aged 82, reportedly of heart failure after falling down the stairs at his home. The diminutive maverick, who ignored fashion week convention by showing when and where he wanted, in July produced his first couture collection in six years to rapturous reviews. Now some of his most iconic dresses are going on display in the glass-roofed gallery next to his studio and home in the Marais district where he used to show his creations. It includes the dress worn by supermodel Naomi Campbell, his longtime friend and muse, when she led
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