Economy

FILE - In this Oct. 18, 2011, file photo, the Morgan Stanley logo is displayed on its Times Square building, in New York. Morgan Stanley is buying online brokerage E-Trade in an all-stock deal valued at about $13 billion. In the all-stock deal announced Thursday, Feb. 20, 2020, E*Trade shareholders will receive 1.0432 Morgan Stanley shares for each share they own. (AP Photo/Mark Lennihan, File)
February 20, 2020 - 4:35 pm
NEW YORK (AP) — Morgan Stanley, the investment bank for millionaires, big business and megamergers, is buying E-Trade Financial, the online brokerage that encouraged waves of regular investors to get into the market with ads featuring its talking spokesbaby. The roughly $13 billion, all-stock deal...
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FILE - In this Feb. 5, 2020, file photo specialist Dilip Patel, left, and trader John Panin work on the floor of the New York Stock Exchange. The U.S. stock market opens at 9:30 a.m. EST on Thursday, Feb. 20. (AP Photo/Richard Drew, File)
February 20, 2020 - 4:11 pm
NEW YORK (AP) — Stocks are closing lower on Wall Street as jitters about the economic fallout from the viral outbreak in China returned to the market. Major indexes started slightly higher Thursday then took a tumble in late morning trading before recovering some of their losses. The choppy trading...
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FILE - In this Feb. 5, 2020, file photo specialist Dilip Patel, left, and trader John Panin work on the floor of the New York Stock Exchange. The U.S. stock market opens at 9:30 a.m. EST on Thursday, Feb. 20. (AP Photo/Richard Drew, File)
February 20, 2020 - 2:07 pm
NEW YORK (AP) — Fear swept back through the stock market on Thursday as worries about the viral outbreak in China knocked the S&P 500 off its record high and had it on pace for its worst day this month. Stocks had started the day off higher following another round of stronger-than-expected...
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FILE - In this Feb. 5, 2020, file photo specialist Dilip Patel, left, and trader John Panin work on the floor of the New York Stock Exchange. The U.S. stock market opens at 9:30 a.m. EST on Thursday, Feb. 20. (AP Photo/Richard Drew, File)
February 20, 2020 - 11:48 am
NEW YORK (AP) — U.S. stocks turned broadly lower in midday trading Thursday as investorsbecame more cautious following a record-setting day for major indexes. The virus outbreak originating in China remains a lingering concern as more companiessay they'll be affected. The world’s biggest shipper, A...
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FILE - In this Oct. 18, 2011, file photo, the Morgan Stanley logo is displayed on its Times Square building, in New York. Morgan Stanley is buying online brokerage E-Trade in an all-stock deal valued at about $13 billion. In the all-stock deal announced Thursday, Feb. 20, 2020, E*Trade shareholders will receive 1.0432 Morgan Stanley shares for each share they own. (AP Photo/Mark Lennihan, File)
February 20, 2020 - 11:11 am
NEW YORK (AP) — Morgan Stanley, the investment bank for millionaires, big business and megamergers, is buying E-Trade Financial, the online brokerage that encouraged waves of regular investors to get into the market with ads featuring its talking spokesbaby. The roughly $13 billion, all-stock deal...
Read More
FILE - In this Feb. 5, 2020, file photo specialist Dilip Patel, left, and trader John Panin work on the floor of the New York Stock Exchange. The U.S. stock market opens at 9:30 a.m. EST on Thursday, Feb. 20. (AP Photo/Richard Drew, File)
February 20, 2020 - 10:18 am
NEW YORK (AP) — U.S. stocks edged slightly lower in early trading Thursday as investorsbecame more cautious following a record-setting day for major indexes. The virus outbreak originating in China remains a lingering concern as more companiessay they'll be affected. The world’s biggest shipper, A...
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FILE - In this Feb. 5, 2020, file photo specialist Dilip Patel, left, and trader John Panin work on the floor of the New York Stock Exchange. The U.S. stock market opens at 9:30 a.m. EST on Thursday, Feb. 20. (AP Photo/Richard Drew, File)
February 20, 2020 - 9:44 am
NEW YORK (AP) — Strocks are opening lower on Wall Street, a day after indexes set their latest record highs. Health care companies were among the biggest losers early Thursday. E-Trade soared after agreeing to be acquired by Morgan Stanley. Shanghai's market jumped after China's central bank cut...
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Ralph Hamers, new CEO of Swiss Bank UBS, gestures during a press conference in Zurich, Switzerland, Thursday, Feb. 20, 2020. Dutchman Ralph Hamers will replace Sergio Ermotti, who is still UBS boss, on Nov. 1, 2020. (Walter Bieri/Keystone via AP)
February 20, 2020 - 9:27 am
GENEVA (AP) — Shares in bank UBS climbed almost 3% on Thursday after the Swiss firm announced the appointment of a new chief executive who has experience in developing digital business in finance. Zurich-based UBS said that Ralph Hamers, who is currently the head of Dutch bank ING Group, will join...
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FILE - In this Oct. 18, 2011, file photo, the Morgan Stanley logo is displayed on its Times Square building, in New York. Morgan Stanley is buying online brokerage E-Trade in an all-stock deal valued at about $13 billion. In the all-stock deal announced Thursday, Feb. 20, 2020, E*Trade shareholders will receive 1.0432 Morgan Stanley shares for each share they own. (AP Photo/Mark Lennihan, File)
February 20, 2020 - 8:38 am
NEW YORK (AP) — Investment bank Morgan Stanley announced it would buy the online brokerage E-Trade for roughly $13 billion, one of the biggest deals on Wall Street since the financial crisis. The deal also is the latest chapter in Morgan Stanley's transformation from the scrappy, deal-doing, stock-...
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China's Foreign Minister Wang Yi speaks during a joint press conference of the Co-Chairs Special ASEAN-China Foreign Ministers' meeting on the Novel Coronavirus Pneumonia in Vientiane, Laos, Thursday, Feb. 20, 2020. (AP Photo/Sakchai Lalit)
February 20, 2020 - 7:44 am
VIENTIANE, Laos (AP) — Southeast Asia’s top diplomats praised China's handling of the virus outbreak and pledged Thursday to help fight the disease that emerged in a central Chinese city and spread in the region and around the world. Chinese Foreign Minister Wang Yi highlighted the unprecedented...
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