Spain to force savings banks to list

Spain is planning to force its regional savings banks to become conventional banks and seek stock market listings, a source familiar with the matter told Reuters. The state-backed bank restructuring fund (FROB)

Morgan Stanley profit jumps; Smith Barney pays off

Morgan Stanley's fourth-quarter shareholder profit surged 60% as rising fees from retail brokerage helped offset the weak fixed-income trading results that have marred earnings across Wall Street. Adjusted profit fell well short

China to spend $301 bln on water projects

China will invest 2 trillion yuan ($303.8 billion) over the next five years to build water-related infrastructure projects and improve rural drinking water quality, state news agency Xinhua reported on Thursday, citing