der since the 2008 global financial crisis.
The deal highlights the increasing convergence of Wall Street and Main Street: Elite bastions of corporate finance are seeking to cater to customers with smaller pocketbooks, and online brokerages that once hoped to overthrow traditional trading houses are instead suffering from a price war that has slashed their profits.
E-Trade was an enticing target: It has struggled as brokerages slashed fees in a fight that peaked last fall when Charles Schwab eliminated fees for the trading of stocks and exchange-trade funds, and later agreed to buy TD Ameritrade for $26 billion. But Morgan Stanley could face a challenge luring this sort of investor toward its higher-touch investment management services.
Morgan Stanley is betting that regulators in Washington will approve what is perhaps the most consequential acquisition by a systemically important American bank — the too-big-to-fail variety of financial institution — since 2008. Morgan Stanley doubtless hopes an E-Trade deal goes more smoothly than a past effort to pull in retail clients. Its merger with Dean Witter Reynolds two decades ago foundered amid a clash between Morgan Stanley’s Wall Street aristocrats and Dean Witter’s more down-market brokers. Since then, however, the bank has been steadily shifting toward asset management — one of a number of approaches major banks have been trying to court Main Street.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Philippines Latest News, Philippines Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
China revokes three Wall Street Journal reporters’ credentialsChina has revoked the press credentials of three journalists of the Wall Street Journal after the newspaper declined to apologize for a column with a headline calling China the “real sick man of Asia”, the foreign ministry said on Wednesday.
Source: manilabulletin - 🏆 25. / 51 Read more »
China revokes three Wall Street Journal reporters’ credentialsChina has revoked the press credentials of three journalists of the Wall Street Journal after the newspaper declined to apologize for a column with a headline calling China the “real sick man of Asia”, the foreign ministry said on Wednesday.
Source: manilabulletin - 🏆 25. / 51 Read more »
DTI looks for face mask suppliers to reduce shortageThe Department of Trade and Industry (DTI) is making efforts to reduce the shortage of face masks in the country by scouting for suppliers, Trade Secretary Ramon Lopez said.
Source: manilabulletin - 🏆 25. / 51 Read more »
China says media spreading racial discrimination must pay the priceMedia organizations that spread racial discrimination and maliciously smear China must pay the price, Chinese foreign ministry spokesman Geng Shuang said on Thursday, following Beijing’s decision to revoke the press credentials of three Wall Street Journal correspondents. Why cant you tell the truth for once instead of being a ccp puppet rag.....shame on you Media should know what responsible reporting means and how to operate globally. After all, it is the news that is the core of their business. How can WSJ be able to compete with other news organizations if it does not have access to news right from where the source is?
Source: manilabulletin - 🏆 25. / 51 Read more »
Espenido denies drugs link, says he’s pro-lifeBACOLOD CITY - Government drug war poster boy Lt. Col. Jovie Espenido said he has nothing to do with the drug-related killings in the province.
Source: manilabulletin - 🏆 25. / 51 Read more »
Bucor official linked to GCTA mess shot dead in Muntinlupa cityThe chief of the Legal Service of the Bureau of Corrections (BuCor) who is serving a six month suspension over his alleged involvement in the anomalous implementation of the Good Conduct Time Allowance (GCTA) of convicted inmates was gunned down in Muntinlupa City Wednesday afternoon.
Source: manilabulletin - 🏆 25. / 51 Read more »