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Top Firm Said To Suffer Big Trading Loss

The Chips Are Down

Bloomberg reports that Morgan Stanley is said to have suffered a trading loss in the tens of millions in the second-quarter, after bets on the direction of 5 and 30-year interest-rates are believed to have gone against it.

Bank President Resigns After Big Trading Losses

Mitsubishi UFG Logo

Dow Jones Newswires reports that Mitsubishi UFJ Morgan Stanley President Fumiyuki Akikusa has stepped down following the around $1.2bn in trading losses sustained by MUFJ traders at the unit over the January - March period.

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