Deal reshaping the storied Investment Bank, Morgan Stanley Ceo James Gorman will join us in the next hour. A mega merger, increases the projection of expenses saved and the guidance which well get into, as well. Giving up control of victorias secret selling a 55 stake to siycamore and stepping down. Well start with the deal of the day. Morgan stanley agreeing to acquire etrade valued at 13 billion. 58. 74 a share three months after schwab and Td Ameritrade announced a merger deal a lot of discussion of why not robin hood an enwhat it means for the sort of the framing of their Wealth Management business, jim. It is kind of amazing about 5 million accounts, maybe more robin hood with 10 million accounts in no time they were land speed record for accounts their success is driving everything they have the millennials. They have a different orientation. They have the easiest site to use. All hand held. Theyre racking up customers i have had robin on a couple times. Theyre the biggest threat
Akwy sessiak ak akwywy situation of etrade. Will has the highlights. Hey, carl as you said, just last hour we were talking with james gorman, the ceo, and said he first got attracted to etrade back in 2002 when he was still at merrill. He said the conversations this time got real in december. Heres what he had to say about that 13 billion price tag i never worry about strategy. Im never trying to copy what somebody else is doing we have to do whats right for Morgan Stanley you have to be opportunistic, move and move quickly. We put in a very full, i think appropriately, a bid for a Great Company with an iconic brand if we tried to to do it on the cheap, that would have created turmoil. You get the job done thats what we did this is what he said about the rationale for the deal we bring in a group of technologists that i think will drive Technology Platforms even further than that weve been able to do they have Online Banking we can roll that to premium clients. We have a lot of young c
He will be traveling to washington hell be here a couple of days saying negotiating teams from both sides remain in close communication. President trump saying hes going to later travel to beijing to begin talks on the next phase. I think well talk to eunice we never know until we know. The last thing we heard from eunice was, you know, the president says there is a signing next week but havent heard anything from the chinese side she did point out that it was good for the chinese to have this happening now ahead of the Lunar New Year too my point is that they would never say anything and deliberately stay and let us conjecture it is always bad they never signed off on this the day before the market pulled back a little after someone said something that the chinese are uncomfortable with something until we hear right from the Commerce Ministry. Just a lot of times sitting there, what they looked like. They are more reserved and are tweeting about this stuff. Anyway, looking good. Hope
And we have video of the chinese communication has been an issue, tax reform is hard to vice premier meeting with u. S. Communicate. Dagen wrote trump is his own communicator, he is the best trade representative lighthizer communicator. Right now, only video, american maria see you soon, have a great day, varney and Company Begins now. Video of the meeting. Treasure secretary Steven Mnuchin joined for dinner, this stuart history about to unfold deal pauses tariffs Going Forward but still 250 billion on varney and company. In chinese import under 25 dignitaries assembled in the tariff and another 120 billion under 7 and a half percent until white house for the formal signing of the china trade deal. It will be quite a show. The president , Vice President , cabinet, members of congress, Top White House officials will all be there and so will phase 2. He will consider releasing chinas toplevel delegation. The vice premier, the commerce tariffs as part of phase 2. So theres, nothing to do
We will go behind the scenes with revealing lady gaga, helping people improve physical and Mental Health. Its monday, january 6th, 2020. Heres todays eye opener. Your world in 90 seconds. Does this mean other iranian leaders are now potential u. S. Targets . We will do everything required to keep the American People safe. That sounds like a yes. Tensions rise in the middle east as eastern abandons the as iran abandons the nuclear deal. We do not generally execute high level politicals of sovereign nations because we know that might get more americans killed. The terrorist attack in kenya kills three american, one a u. S. Service member. The attack was at a kenya air field. Wildfires continue to ravage southeastern australia. Warmer temperatures later this week could make matters worse. We cannot guarantee your safety at present. Multiple people are dead and dozens are hurt after this massive crash on a pennsylvania people involved. The trial of Harvey Weinstein scheduled to begin, jury