Morgan Stanley warned Monday it could lose some $292 million in a lawsuit filed by Deutsche Bank over subprime mortgages. Deutsche Bank, through the Deutsche Bank National Trust Company, filed a suit against Morgan Stanley last month. The German bank says Morgan Stanley knowingly passed on to it mortgages with an original principal balance of $735 million that were in fact toxic, according to a statement from Morgan Stanley. A New York court has rejected the US bank's attempts to have the suit thrown out, Morgan Stanley said.
BALTIMORE (AP) — Months before Freddie Gray died of the broken neck he suffered during what Baltimore's top prosecutor called an illegal arrest, the city's mayor and police commissioner said the department needed reform and asked the Justice Department for help reviewing officer misconduct.
PARIS (AP) — Greek finance minister Yanis Varoufakis is meeting top European officials in Paris and Brussels as the cash-strapped country seeks the swift release of delayed bailout money that it needs to keep up with its debt payments.