morgan stanley

Puerto Rico protest (Spencer Platt / Getty)

Puerto Rico Bankruptcy Puts Pressure on California, Illinois, Connecticut

Puerto Rico’s world-record $116 billion bankruptcy filing represents a massive liability risk for auditors who will likely demand that highly-indebted states — such as Connecticut, Illinois and California — disclose more liabilities, write down assets, and curtail debt issues.

snapchat-afp

Snapchat IPO Valued at Up to $40 Billion

Bloomberg reported Wednesday that the social media juggernaut Snapchat has filed to go public at the jaw-dropping valuation of up to $40 billion.

BAGHDAD, IRAQ - APRIL 24: Fire burns from an oil distillation tower at the Al-Doura Oil Refinery April 24, 2003 in Baghdad, Iraq. The refinery, built in 1952, is the largest in Baghdad and would typically produce 110,000 barrels of oil a day. However, due to the problems associated with …

Oil Prices Under Pressure as Iraq Resists Joining Output Cut

Oil prices came under pressure on Monday as Iraq said it wanted to be exempt from an OPEC deal to cut production, though losses were capped by Iran saying it would encourage other members to join an output freeze.