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Read previewMorgan Stanley's wealth business is the envy of Wall Street, with $5.1 trillion in assets. The wealth management division has buoyed Morgan Stanley's stock during the market slowdown, but its growth has slowed. Finn added that wealth management clients would soon have access to more customized and tax-efficient portfolios through Parametric, a direct indexing provider it acquired via Eaton Vance in 2021. AdvertisementThis is part of Finn's broader strategy to get customers across the bank to use as many Morgan Stanley products as possible. "The challenge with our model, historically, is we had a great wealth management firm if you wanted to work with a financial adviser," he said.
Persons: , Morgan, Jed Finn, Finn, Andy Saperstein, James Gorman, Ted Pick, Morgan Stanley's, Vince, Chad Turner, OpenAI, it's, It's, Eaton Vance, Morgan Stanley Organizations: Service, Bank of America, Business, McKinsey, AIMS
Layoffs could be coming to Morgan Stanley's crucial wealth management business — a prudent step to improving the bank's overall cost structure amid uncertainty over Federal Reserve interest rate moves. During his tenure at the helm, Gorman pivoted Morgan Stanley to rely less on investment banking by building up wealth management, which has a more predictable revenue stream. MS YTD mountain Morgan Stanley (MS) year-to-date performance Possible layoffs in wealth management are important because it's Morgan Stanley's largest operating segment — making up roughly half of companywide revenue. "Morgan Stanley's paying you to wait with that 4% yield, and they're right in there buying with you thanks to their aggressive buyback." Ted Pick, CEO Morgan Stanley, speaking on CNBC's Squawk Box at the World Economic Forum Annual Meeting in Davos, Switzerland on Jan. 18th, 2024.
Persons: Morgan Stanley's, Morgan Stanley, Ted Pick, CNBC's, James Gorman, Jan, Gorman, it's Morgan, Pick, Jim Cramer, Jim Cramer's, Jim, Adam Galici Organizations: Wall Street, Silicon Valley Bank, Currency, CNBC Locations: Silicon, management's, U.S, Wells Fargo, Davos, Switzerland
WASHINGTON (AP) — The Supreme Court on Thursday heard two hours of historic arguments in a Colorado case to remove former President Donald Trump from the ballot. Murray gave well-rehearsed arguments that won the day in the Colorado Supreme Court, whose 4-3 ruling that Trump was ineligible got the case to Washington. Salmon Chase, who was then the chief justice of the Supreme Court, heard the case while acting as an appellate judge. Going into the case, the prevailing view of legal experts was the Supreme Court would keep Trump on the ballot. Would it mean a reelected President Trump suddenly becomes ineligible.
Persons: Donald Trump, , TRUMP, Trump, Democrat Joe Biden, Elena Kagan, Samuel Alito, Brett Kavanagh, John Roberts, Jason Murray, Murray, Salmon Chase, Chase, weren’t, Kavanagh, Ketanji Brown, Jackson, Amy Coney Barrett, Trump's lawyeer, Jonathan Mitchell, Mitchell Organizations: WASHINGTON, Republican, U.S, Capitol, Democrat, Colorado Supreme Locations: Colorado, Washington, Virginia
My town was a filming location for several scenes in "Avengers: Infinity War," and it wasn't uncommon to stumble upon a set. AdvertisementNow, Edinburgh seems to be a hot spot for film crews. But, as a resident, the luster of celebrity sightings and film crews is starting to wear off. In this small city, the stunt immediately raised alarm bells. The small city has been greatly impacted by the attention from Hollywood.
Persons: , Wanda, Vision's, Bethany Gemmell, Captain America, there'd, Marvel, Guillermo Del Toro's, I've, it's Organizations: Marvel, Service, University of Edinburgh, Waverley, Edinburgh Fringe Locations: Edinburgh, Scotland, Bethany, London, Hollywood
Read previewThe race is on to find the wreckage of Amelia Earhart's ill-fated final flight. Tony Romeo and his company, Deep Sea Vision, discovered an object of similar size and shape to Amelia Earhart's iconic plane, deep in the Pacific Ocean. Deep Sea VisionRomeo says he may have solved the mystery with his sonar scans. The same aircraft radio receiver used by Amelia Earhart was recreated by Nauticos as they researched Earhart's final transmissions. Deep Sea Vision now leases its equipment to other ocean explorers to continue funding its mission.
Persons: , Amelia Earhart's, Tony Romeo, Earhart, Fred Noonan, Romeo, he's, we've, there'll, it'll, Lockheed Electra, Nauticos, Jeff Morris, Amelia Earhart, Morris, I'm, David Jourdan, Tony, You'll Organizations: Service, US Air Force, Business, Smithsonian, Lockheed, Lockheed Electra, Coast Guard, Topical Press Agency, Getty Locations: South Carolina, Howland, Hawaii, Australia, Connecticut, Itasca, Howland Island, Norwegian, Kongsberg
JERUSALEM (Reuters) - Prime Minister Benjamin Netanyahu said on Sunday Israel was not ready to accept a deal at any price to release hostages held by Hamas amid rifts in his coalition over a U.S. push to get more aid into Gaza. "The efforts to free the hostages are continuing at all times," Netanyahu said in comments ahead of a cabinet meeting that were released to the media. "As I also emphasized in the Security Cabinet – we will not agree to every deal, and not at any price." War in Israel and Gaza View All 194 Images"If Trump was in power, the U.S. conduct would be completely different," he said. White House national security adviser Jake Sullivan said the United States would continue trying to get more aid into Gaza, which is facing an acute humanitarian crisis.
Persons: Benjamin Netanyahu, Sunday Israel, Netanyahu, Itamar Ben, Gvir, Joe Biden, Israel's, Biden, Ben, Donald Trump, Trump, Antony Blinken, Gantz, Jake Sullivan, James Mackenzie, Giles Elgood Organizations: Sunday, National, Wall Street, U.S, House, Gaza, CBS Locations: JERUSALEM, U.S, Gaza, Israel, United States
Goldman Sachs on Monday said that Jim Esposito, one of the bank's three co-heads of global banking and markets and a potential CEO contender, would be stepping down . He said he's developed a sense of restlessness and suggested he's leaving because he's eager for a change of pace. Goldman Sachs is one of the most powerful investment bank on Wall Street and its leaders often go on to do great things, including heading up firms or taking on leading roles in government. "As the pace of innovation accelerates at a mind blowing speed, there's a strong pull to explore new adventures," Esposito wrote, concluding later: "Keep winning as our results will always define us. I will bleed Goldman Sachs forever."
Persons: Goldman Sachs, Jim Esposito, he's, I've, Esposito, Buffett, Beckham, Berkshire Hathaway, Warren Buffett, David Beckham, Goldman's Organizations: Business
SAVANNAH, Ga. (AP) — The company seeking permits to mine minerals near the edge of the Okefenokee Swamp and its vast wildlife refuge has agreed to pay a $20,000 fine to Georgia environmental regulators, who say the company violated state laws while collecting soil samples for its permit application. The plan is required for Twin Pines to qualify for a permit. Twin Pines has insisted it can mine without harming the swamp. An attorney for Twin Pines said Wednesday the company denies any wrongdoing. The Army Corps entered an agreement with Twin Pines to maintain its hands-off position in 2022.
Persons: , Lewis Jones, Josh Marks, EPD, ” Marks, Donald Trump, Joe Biden Organizations: Georgia Environmental, Twin, Twin Pines Minerals, Twin Pines, Regulators, Refuge, , National Park Service, UNESCO, U.S . Fish, Wildlife Service, and Wildlife Service, Army Corps of Engineers, Army Corps Locations: SAVANNAH, Ga, Georgia, Twin Pines, Alabama, Twin, Mississippi, Atlanta, blackwater
download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read previewWhen "Law & Order: Special Victims Unit" returns to screens for its landmark 25th season this week, it will continue to reign as television's longest-running drama series. This story is available exclusively to Business Insider subscribers. To celebrate, stars of the series, both past and present, gathered together in New York City for a special party on Tuesday evening. And special it was, as fans of the NBC police drama have waited years to see some of the series' cast back together again.
Persons: , Mariska Hargitay, Peter Scanavino, Dann Florek, Raúl Esparza, Stephanie March, Richard Belzer, John Munch Organizations: Service, Business, NBC Locations: New York City
Emmys Red Carpet: See Quinta Brunson, Selena Gomez and More StarsHere are the best looks from television's biggest night
Persons: Quinta Brunson, Selena Gomez
We're taking a closer look at a few of our stocks in the headlines on Tuesday: Starbucks, Constellation Brands and Walt Disney. The firm said it is looking beyond the current quarter, noting that Starbucks is "underearning vs its potential." Constellation Brands News: Bernstein named Constellation Brands its top pick for 2024 in a Tuesday research note. That's why a potential partnership that would give equity ownership of ESPN to a professional sports league would be so interesting. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.
Persons: Walt Disney, Morgan Stanley, Bernstein, Jim, Bob Iger, Wells Fargo, Nelson Peltz, Jim Cramer's, Jim Cramer, Spencer Platt Organizations: Starbucks, Constellation Brands, Walt, Modelo, Disney, ESPN, National Football League, New York, NFL Media, NFL Network, Players Association, NFL, Netflix, CNBC, People, Starbucks Workers United, Getty Locations: Israel, China, Corona, Pacifico, New, New York City
Discovery's gaming division is on a winning streak with two of the biggest console games in 2023: "Hogwarts Legacy," the year's No. In an interview with Business Insider, Haddad, who is president of Warner Bros. Interactive Entertainment — a position he's held since 2015 — framed the challenge and how he plans to keep WBD games' streak going. It can take the form of new events to keep people playing a strategy game like "Game of Thrones: Conquest" or new characters and tournaments in a fighting game like "Mortal Kombat." WBD's success with games separates it from other legacy media companies that have stumbled in the arena, most notably Disney. Nevertheless, analysts have speculated that given its past success and need for growth, WBD could buy another gaming company such as EA or Take-Two Interactive.
Persons: , execs, David Haddad, Haddad, We're, Harry Potter, it's, They've, Michael Pachter, Shaggy, David Zaslav, people's, Jefferies, Andrew Uerkwitz, LightShed, Haddad wouldn't, we've Organizations: Service, Warner, Business, Discovery, Warner Bros, Interactive Entertainment, Wedbush Securities, Disney, Netflix, Thrones, EA, Embracer Locations: WarnerMedia
NEW YORK (AP) — Television's finest brought the silver carpet alive in color, vying with a sea of black, on Monday at the strike-delayed 75th Emmy Awards, including a 3D-molded black look for Ayo Edebiri and sparkly chartreuse for Rhea Seehorn. Edebiri of “The Bear” walked in a strapless custom gown from Louis Vuitton. Quinta Brunson, another fashion standout, wore dainty pink with a little belted accent from Dior couture. Ali Wong wore Louis Vuitton with a silver top and floral patterned blue bottom. Colman Domingo wore custom Louis Vuitton in black, two pearl bracelets on one wrist and a broach on one lapel.
Persons: , Ayo, chartreuse, Rhea Seehorn, , Louis Vuitton, “ We're, Riley Keough, Saul ”, sequins, Naeem Khan, she's, Dominique Fishback, Joy Sunday, Tom Colicchio, Fernández, Janelle James of “ Abbott, It's, ” James, Fred Leighton, Sarah Snook, Vivienne Westwood, Suki Waterhouse, Issa Rae’s, Pamella Roland, , Hannah Waddingham, Quinta Brunson, Betty Boop, Ali Wong, Colman Domingo, Jenny Ortega, Dior, Selena Gomez, Oscar de la, Jean Schlumberger, Tiffany “, Jennifer Coolidge, Anthony Organizations: Associated Press Locations: Etro
In the course of assembling Business Insider's list of 2023 rising stars of the entertainment industry — 25 up-and-coming execs from companies like Netflix, Disney, Warner Bros. We asked them to break down the contours of the role — what they love, what the biggest challenges are — and to break down what skills and traits make a good creative executive. Find your balance between creative thinking and executive skillsDiego Nájera is a director of narrative film at Participant, an independent production company. Let the creator's vision be the North Star of every decisionEmerald Wright-Collie is a director of creative content for Sony Pictures Television's kids' division. So always sticking true to that creative North star.
Persons: Baggett, it's, Zac Geoffray, Abbott, It's, Diego Nájera, we've, Emerald Wright, Collie, Kurt Mueller, , Alison Brower Organizations: Hollywood, Creative, Netflix, Disney, Warner Bros, ABC, North Star, Sony Pictures Locations: today's
Now, San Francisco-based asset manager Newday Impact Investing believes that using what it calls an Ecological Benefits Framework (EBF), or "a shared market architecture," could provide a new way forward in social investing. "One of the challenges has been that there are a whole bunch of different [ESG] frameworks. But they're all super complicated oftentimes even from organization [to] organization, as impact interpretations are very, very different," said Doug Heske, CEO of Newday Impact. By 2027, the goal is to have 70% of McKesson suppliers (measured by spending), have their own SBTi-approved GHG emissions reduction targets. By 2027, the goal is to have 70% of McKesson suppliers (measured by spending), have their own SBTi-approved GHG emissions reduction targets.
Persons: EBF, Douglas Gayeton, Doug Heske, there's, McKesson, Newday, paperless invoicing, Heske Organizations: Newday, . Healthcare, Equity, McKesson Foundation, Parkland Health, RedBird Health, Energy, Environmental Locations: San Francisco
Microsoft -owned Activision Blizzard has agreed to settle a case from a California state agency that alleged the video game publisher discriminated against women, including denying them promotion opportunities and paying them less. The news comes almost two years after Activision Blizzard settled a case from the U.S. Shares fell, and Microsoft subsequently began talks to acquire Activision Blizzard, the maker of Call of Duty. The agency will file a new complaint that excludes prior harassment allegations, according to the proposed settlement agreement, which CNBC viewed. WATCH: Activision Blizzard CEO Bobby Kotick: We always believed the deal would get through
Persons: Bobby Kotick Organizations: Microsoft, Activision Blizzard, Civil Rights Department, U.S, Opportunity Commission, of Fair, Housing, Wall Street Journal, Activision, Federal Trade Commission, CNBC Locations: California, U.S, Europe, San Francisco, Los Angeles
Sunak deepened a diplomatic row with Athens on Wednesday by accusing Mitsotakis of "grandstanding" during a recent trip to London over ownership of the Parthenon Sculptures. Sunak cancelled a planned meeting with Mitsotakis earlier in the week. A Buckingham Palace source said on Friday that Charles also wore the same tie last week, before the escalation of the dispute. British media noted that, as well as the blue and white tie featuring the same white cross design as the Greek flag, Charles sported a blue and white handkerchief protruding from his jacket pocket. The museum has said it would consider a loan to Greece only if Athens acknowledges the museum's ownership of the sculptures.
Persons: Britain's King Charles, Rishi Sunak, Kyriakos, Charles, Sunak, Prince Philip, Mitsotakis, … King Charles, Chris Ship, Lord Elgin, Alistair Smout, Michael Holden, William Schomberg, Alex Richardson Organizations: United Arab Emirates, Greek, ITV television's, British Museum, Thomson Locations: DUBAI, COP28, Corfu, Sunak, Athens, London, Buckingham, Dubai, Greece, LONDON
A "new evaluation project" will also review FDIC reform efforts since a 2020 investigation found its handling of sexual harassment complaints was deficient, according to Caitlin Savino, spokesperson for the FDIC Office of Inspector General. Previously, FDIC officials said the agency had satisfied recommendations from that investigation. Gruenberg has expressed personal alarm at the accounts and vowed to address the matter as a top agency priority. Republican lawmakers on the House Financial Services Committee have announced the start of a "rigorous" congressional probe into the matter. Reporting by Douglas Gillison; editing by Franklin Paul, Jonathan Oatis and David GregorioOur Standards: The Thomson Reuters Trust Principles.
Persons: Sheila Bair, Jason Reed, Caitlin Savino, Martin Gruenberg, Gruenberg, Douglas Gillison, Franklin Paul, Jonathan Oatis, David Gregorio Our Organizations: Federal Deposit Insurance Corp, REUTERS, Companies United, U.S . Federal Deposit Insurance Corp, Republican, Financial Services, Thomson Locations: Washington, Companies United States, America
NEW YORK (AP) — Marty Krofft, a TV producer known for imaginative children’s shows such as “H.R. The Kroffts eventually opened their own, the short-lived World of Sid & Marty Krofft, in Atlanta in the 1970s. Sid Krofft said on Instagram that he was heartbroken by his younger brother's death, telling fans, “All of you meant the world to him." While other producers might have contented themselves with their achievements far earlier, Marty Krofft indicated to The AP in 2015 that he no had interest in stepping back from show business. “What am I gonna do — retire and watch daytime television and be dead in a month?” he asked.
Persons: — Marty Krofft, Pufnstuf, Donny, Marie ”, Krofft, Harlan Boll, Sid, Marie Osmond, Barbara Mandrell, “ Barbara Mandrell, Mandrell, , Pufnstuf ”, I’ve, ” Marty Krofft, we’d, , Marty Krofft, Richard Pryor, Sid Krofft, Organizations: Hollywood, Nickelodeon, Associated Press, Paris ” Locations: Los Angeles, Montreal, Atlanta
Alibaba will put a bigger emphasis on three business units within the cloud space — public cloud, hybrid cloud and cloud infrastructure. Weiguang Liu will lead the public cloud division, a person familiar with the matter who was not authorized to speak publicly on it told CNBC, while Jin Li will lead the hybrid cloud unit. Daniel Zhang stepped down from the CEO role in September, then quit as the head of the cloud business weeks later. "The cloud intelligence group will resolutely implement a strategy of driving growth with AI and of prioritizing public cloud. "In the future, incremental demand for cloud computing will be driven by demand for AI, and most AI computing will run in the cloud."
Persons: Alibaba, Weiguang Liu, Jin Li, Eddie Wu, Jiangwei Jiang, Jingren Zhou, Daniel Zhang, Wu Organizations: CNBC Locations: China
Miniatures of windmill and electric pole are seen in front of Siemens Gamesa logo in this illustration taken January 17, 2023. One Frankfurt-based trader said the investor event, where Siemens Gamesa disclosed around 400 million euros in cost cuts by 2026, was bringing "no new insights". At 1610 GMT, shares in Siemens Energy, in which Siemens AG (SIEGn.DE) owns a direct 25.1% stake, were still down 6.3%. Siemens Gamesa will likely cut onshore turbine capacity outside Europe and outsource the production of some components, the division's Chief Executive Jochen Eickholt said, outlining the group's restructuring roadmap. Reuters last month reported that Siemens Gamesa was considering shutting plants and sales offices as well as outsourcing some production.
Persons: Dado Ruvic, Siemens Gamesa, Christian Bruch, Jochen Eickholt, Eickholt, Christoph Steitz, Tom Kaeckenhoff, Danilo Masoni, Madeline Chambers, Miranda Murray, David Evans Organizations: Siemens, REUTERS, Siemens Energy, Siemens Gamesa, Siemens AG, Reuters, Thomson Locations: Europe, FRANKFURT, DUESSELDORF, Frankfurt
There's a history of Christmas pudding charms, to be hidden within the holiday treat. And there's an angel made of beads by an artisan in the Woza Moya collective of South Africa. The photographer behind the Instagram account Brown Girls Do Ballet has put together a celebratory essay in images of just that. More than 1,100 color images included in this broad overview, Glaser’s wit ever-present. Includes rarely seen images and recollections from Salt-N-Pepa, Public Enemy, Run-D.M.C., Mary J. Blige and more.
Persons: Slim Aarons, Shawn Waldron, Abrams, , David Trigg, Sam Bilton, Dolph Gotelli, Moya, “ Lena Horne, Donald Bogle, Bogle, TaKiyah Wallace, McMillian, Kailyn Scales, Leventhal, Dutton, Chef Gabriel “, Kim Laidlaw, Guilbeau, Taylor Sheridan, John, Kayce, Beth, Hal Rubenstein, Mary Tyler Moore's, Laura Petrie, Dick Van Dyke, ” Moore, Rubenstein, Dawn Wells, Mary Ann, Molly Adams, Sydney Golden Anderson, Adams, Golden Anderson, “ Thom Browne, , Thom Browne, Andrew Bolton, Johnny Dufort, Browne's, Karida L, Brown, Charly Palmer, W.E.B, Du Bois, They've, Langston Hughes, Jenni Nuttall, Mark Seliger, Seliger, Joe Jonas, Sophie Turner, Chadwick, Will Smith, Jada Pinkett Smith, Robert De Niro, ” Abrams, Lindsey Taylor, Taylor, “ Milton Glaser, Steven Heller, Mirko Ilić, Beth Kleber, Glaser, Glaser busied, “ LL, LL Cool, Vikki Tobak, Alec Banks, Mary J, Blige, Peep Ludacris Organizations: Hollywood, Getty Images, Phaidon, Running Press, CBS, HarperCollins, Sydney, Feminist Bird, National Wildlife Federation, Princeton Architectural Press, Families, Chronicle, Exeter College, , Wall, Rizzoli New Locations: Palm Beach, Rome, tailgaters, Aiken , South Carolina, South Africa, Brooklyn, Louisiana, Bolton, New York, Rizzoli New York
Israeli Prime Minister Benjamin Netanyahu speaks during a press conference with Defense Minister Yoav Gallant and Cabinet Minister Benny Gantz in the Kirya military base in Tel Aviv , Israel , 28 October 2023. And we shouldn't have any because we're doing everything we can to get the civilians out of harm's way, while Hamas is doing everything to keep them in harm's way," Netanyahu said. "The other thing that I can say is that we'll try to finish that job with minimal civilian casualties. On Thursday, Israel's air force dropped leaflets in parts of south Gaza telling people to evacuate for their own safety. Israel has also used leaflet drops in northern Gaza to warn civilians to move.
Persons: Benjamin Netanyahu, Yoav Gallant, Benny Gantz, Netanyahu, Gaza's, Israel, we're, Rami Ayyub, Grant McCool Organizations: REUTERS, Rights, U.S, television's CBS, CBS, United, Thomson Locations: Tel Aviv, Israel, ABIR, Gaza, Germany, United Nations
A New York judge on Thursday temporarily suspended a gag order barring former President Donald Trump from commenting on court staff in his $250 million civil business fraud trial. She seeks $250 million in damages and wants to permanently bar Trump Sr., Donald Trump Jr. and Eric Trump from running a New York business. Trump has already violated the narrow gag order twice, catching a total of $15,000 in fines. That gag order barred Trump from making statements targeting the prosecutors, likely witnesses and court staff in the case. A federal appeals court temporarily paused the D.C. gag order earlier this month.
Persons: Donald Trump, Judge Arthur F, David Friedman, Letitia James, James, Arthur Engoron, Trump, Christopher Kise, Kise, Donald Trump Jr, Eric Trump, Engoron Organizations: U.S, Trump Organization, Court, New, Appellate, Department, Trump, CNBC, Washington , D.C Locations: New York, Manhattan, New York City, U.S, York, New, Washington ,
An appellate judge in New York temporarily lifted Trump's limited gag order in his NY fraud trial. The gag had barred Trump and his lawyers from spoken or written attacks on the judge's law staff. AdvertisementOn November 3, Engoron extended the gag order to include Trump's lawyers after Trump's lawyers made what the judge called "on the record, repeated, inappropriate remarks" about the same clerk. Trump and his lawyers are now free to make written and spoken criticisms of the judge's staff members pending the full appellate decision. Trump's lawyers must respond by November 27, after which a full panel of the New York Appellate Division's First Department will decide if the gag stays or goes permanently.
Persons: Trump, , Donald Trump, Arthur Engoron, Alina Habba, overreach, Habba, Chuck Schumer, Engoron, Christopher Kise, David Friedman, Friedman, Lisa Evans Organizations: Service, Trump, New, Appellate, Department Locations: New York
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