"Morgan Stanley" is an American Multinational corporation/multinational financial services corporation headquartered in the Morgan Stanley Building, Midtown Manhattan, New York City. Morgan Stanley operates in 42 countries and has more than 1300 offices and 60,000 employees. According to the Scorpio Partnership [http://www.scorpiopartnership.com/knowledge/report/global-private-banking-benchmark-2014/ Global Private Banking Benchmark] the company had 1,454 USD Bn of assets under management (AuM) in 2014, an increase of 17.5% on the 2013 figure.

The corporation, formed by J.P. Morgan & Co. partners Henry Sturgis Morgan/Henry S. Morgan (grandson of J.P. Morgan), Harold Stanley and others, came into existence on September 16, 1935, in response to the Glass–Steagall Act/Glass-Steagall Act that required the splitting of commercial and investment banking businesses. In its first year the company operated with a 24% market share (US$1.1 billion) in public offerings and private placements. The main areas of business for the firm today are Private banking/Global Wealth Management, Institutional investor/Institutional Securities, and Investment management/Investment Management.

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With this overlap in mind, (takeover) interest from third parties may well be limited.

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We expect copper to surprise on the upside.

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We have significantly increased our short-term and long-term commodity price forecasts to reflect our expectation of sustained tight markets and ongoing deficits in 2006.

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We now think that (U.S.) crude oil could reach $61 before a meaningful sell-off occurs. Long-term price patterns point to even higher prices.

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We continue to struggle to find attractive valuations in the sector, and, in contrast to last October, we feel short term drivers are turning negative rather than positive.

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We must work out if one year of increased spending is enough to boost growth and brand positioning, or will 2007 guidance come under further pressure.

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Domestic demand has been nowhere close to strong or impressive.

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With a weakening hedging profile, fuel costs will continue rising, and a slowing pace of saving on other costs will likely keep a lid on expectations for profitability.

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(Extended) cash flow declined 12 percent year on year before investments, marking the first time the company has posted lower cash flow since the 1992 recession.

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