Billion dollar loss expected at Morgan StanleyApril 9th, 2009 - 9:47 pm ICT by IANS
New York, April 9 (DPA) Global financial services firm Morgan Stanley is expected to be hit by its second quarterly loss in a row, the Wall Street Journal reported Thursday.
The accounting for a rebound in bond prices is said to be behind a writedown of up to $1.7 billion.
Within the previous quarter, the Wall Street firm had already suffered massive losses of about $2.4 billion. The new quarterly results are expected to be published later this month.
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