Submitted by Fox First at Ten on October 18th
By The Associated Press
BY THE NUMBERS: Morgan Stanley reported higher net income and revenue, after stripping out an accounting charge. The bank earned more revenue across most of its units, including underwriting bonds.
AFTER THE DOWNGRADE: The bank said that clients had "re-engaged" after the uncertainty of June. That's when ratings agency Moody's downgraded the bank.
THE JOBS FRONT: Like many banks, Morgan Stanley is trimming its work force to cushion itself against an uncertain economy. It shed about 4,500 jobs over the year, or 7 percent of its employees.
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