Morgan Stanley quarterly profits slide as investment banking income sinks
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Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.Morgan Stanley profits fell by almost a third in the fourth quarter, as expenses rose 9 per cent, driven by in part by a variety of one-time charges including a legal settlement related to its trading business.Its investment bank’s net profit margin — how much of its sales it turned into income after expenses — fell to 8 per cent, from 21 per cent in the third..