Morgan Stanley CEO James Gorman: Trade war would have a 'devastating' impact on the world economy
said that China and the U.S. must come to a truce in its trade dispute because the alternative would be devastating.
We can't have a trade war. It will have a devastating effect to the global economy. That doesn't mean there can't be changes to the way the trade agreements are being written. Morgan Stanley is the sixth biggest U.S. bank by assets, but it has leading businesses in Wall Street arenas like equities trading and mergers advice and it also runs one of the biggest wealth management brokerages. Like its big-bank peers, the company will disclose whether the Federal Reserve will allow it to raise its dividend and share repurchase program on Thursday.This story is developing. Please check back for updates.
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