and morgan? >> we handcuffed her inside of the interview room and told her that she was under arrest for the murder of kevin mengel jr. >> they sent a police officer to talk to kevin's father. >> he said that we believe that your son has been murdered. it was not easy to sit and listen to. >> kevin's three children were spending the day at his sister, michelle's house when she learned that kevin was not coming back. >> kevin's kids came in and they just came up and they just started hugging me. they're like, "what's wrong?" i think they knew. >> michelle had known all along, she says, in her gut that kevin was dead. but how it happened? michelle could not believe what police were telling them. she remembered steve shappell as that scrawny, unassuming guy who worked for kevin mowing lawns. in fact he had done some work on michelle's lawn a few weeks earlier. michelle felt badly when he told her he just had his wisdom teeth out. >> i was so worried about him for the two days that he was there, and

morgan stanley buying discount broker e trade for $13 billion the ceo of morgan stanley james gorman will be joining us first on cnbc in just a few moments. >> plus the state of the consumer the ceo of l' oreal will join us on post 9 as the company deals with ongoing coronavirus concerns >> viacom shares are plunging, down as much as 18% after numbers that did not meet expectations for the fourth quarter and guidance that is also quite disappointing we'll talk a lot about it. >> first let's get right to the megadeal of the day. morgan stanley agreeing to acquire e trade and an all stock transaction valued at $13 billion. this comes three months after charles schwab and t.j. amer trade announced their own merger deal as we mentioned morgan stanley's ceo james gorman will be joining us first on cnbc in just a few moments, guys. let's unpack a little bit the strategic rationale, david, which the market, though morgan stanley is down, appears to be pretty good with >> i think they're happy with that down less than 4% in fact, i know they are i have spoken to people involved in putting th

morgan asset management. this is bloomberg. ♪ ♪ earnings inty of deals setting the tone for markets today. you look at the headline figures, and we are really not down all that much. , the s&p 5000.6% down 0.5%, and the nasdaq down 0.8%. we are picking up steam to the downside, which bears noticing. guy: the insurance sector a substantial dragon europe. we are watching -- substantial drag in europe. we are watching the financials, too. we are near session lows. the ftse 100 is back in negative territory want to a certain extent be in today by a significantly weaker sterling, which tends to have an effect on the ftse 100. the ftse 100, docks, and cac 40 all in negative territory. the european close is next. this is bloomberg. ♪ g. ♪ hi! we're glad you came in, what's on your mind? can you help keep these guys protected online? easy, connect to the xfi gateway. what about internet speeds that keep up with my gaming? let's hook you up with the fastest internet from xfinity. what about wireless data optio

now they can do it all at morgan stanley. we think we have $7 trillion of assets between e*trade and morgan stanley. we want to bring those funds here. >> you have the number one stock trading business in the world, as well. jpmorgan is trying to knock at your door when it comes to that business. how does the e*trade acquisition and tear trading business? james: that is the equity business, number world. we were number five post crisis. technology within our trading platform, i think e*trade could be added and vice versa. we are excited about using some of their technology, not just in wealth management but across our asset management platforms as well as equities and fixed-income. emily: that was morgan stanley ceo james gorman. prompted a downgrade from wells fargo security analyst mike mayo. he spoke with bloomberg vonnie quinn and guy johnson. >> you can't be a bank analyst without being a part-time tech analyst and this acquisition of morgan stanley buying e*trade is about digital brokerage and digital banking. i think i

morgan stanley down in premarket. bill: they are down around 4% in the premarket, although that is off the premarket lows. day, which is 50 around 53, almost the retracement level. below that you're looking at 51. your first support on morgan stanley round 53. alix: let's go to the shanghai comp. what kind of resistance did we wind up seeing? bill: shanghai rose 1.9% overnight. it dropped 7.7%. that might be the low after the reopen. it is up 11% since. this is not the type of price action worried about the coronavirus. look for resistance around the 3050, then 3100. your first resistance around 3050 in the shanghai composite. alix: thanks a lot. bloomberg's bill maloney ramping up for us. that wraps it up for me. coming up with jonathan ferro, binky chadha will be joining him on this busy day for m&a with morgan stanley buying e*trade for $14 billion. investors worried about buyback. this is bloomberg. ♪ jonathan: from new york city for our audience worldwide. i'm jonathan ferro. "the countdown to the open" starts

nearly 25%higher by after morgan stanley agrees to .uy the company for $13 billion morgan stanley down by about 3.6%. l brands has recovered from most of its premarket losses, now down to about 0.8%. the company's chairman and ceo leslie wexner is stepping down. he's the longest-serving ceo of any s&p 500 company. somehere, let's focus on companies moving on earnings. one of them to the upside is zillow. that stock higher by about 19%. the ceo saying it was the best december ever for the company. to the downside, you have viacom cbs, the newly reunified company, coming up short on revenue. that stock is down by more than 14%. guy: thank you very much indeed. geopolitics next. turkey to deploy patriot muscles to deter russia patriot muscles -- patriot missiles to deter russia. this is bloomberg. ♪ ♪ guy: live from london, i'm guy johnson. vonnie: from new york, i'm vonnie quinn this is -- vonnie quinn. this is "bloomberg markets." guy. guy: let's turn our attention to what is happening in turkey, and figure out exact a what is happening there. the turks have decided to ask the unite

so why are we seeing the likes of morgan stanley keen to move into the brokerage sector. need to from a big investment banks like morgan stanley or goldman sachs to look into a real growth over the last couple of years seeing goldman say case we have seen a push into retail banking and lending through new businesses like mark or aapl card for example in morgan's case their latest operation need to clear opportunity to grow its well for management business with mom and pop investors. who are among the retail brokerage platforms instigated by robin who do each as you stated no commission rule has forced a major players to either join forces such as the case of charles schwab and t.d. ameritrade later last year or do you press. price converting that company like i can do for long time suitors like morgan stanley has a thanks for joining us that's jose luis de haro in new york for us. now the corona virus is affecting the global economy as demand for goods and services declines in china one of the many industries affected are the airlines who have been forced to cancel flight

ian: to have many fans here morgan. morgan: [laughter]. ian: what is socialism. >> the going to the years, it is the dictatorship of a proletarian, the where the government has ceased every single part of the society and used it every single part of that society, to drive towards the goals of communism. it is meant to annihilate your moral values to know i hate your religion and culture . in the communist manifesto says that communism destroys all religion and all morality. make a mistake of negotiating with the socialist just on the basis of economics. within reality, it's about metaphysics. it is about attacking and destroying your valleys, your culture, your ideals and foundation to your society. it is a pretty dark picture you are painting. morgan, why are so many young folks these days infatuated with this idea of a socialist america. morgan: recent call came out that 73 percent of people my age would vote for socialist. i don't think it would like to see this but i think they are just falling for the lies of bernie sanders. in any am

so why are we seeing the likes of morgan stanley keen to move into the brokerage sector. being the need from a big investment banks like morgan stanley or goldman sachs to look into a real growth over the last couple of years seen goldman say case we have seen a push into retail banking and lending through new businesses like mark or carter for example in morgan's case their latest operation need to clear opportunity to grow we mean business with mom and pop investors are going price who are among the retail brokerage platforms instigated by robin who do each as you stated that no commission rule has forced a major player say to either join forces. charles schwab and t.d. ameritrade later last year or do you press stock price converting that company like i can before long time suitors like morgan stanley and big deals like this how much is what's president trump has introduced since coming to power made this more possible it was before. you know basically there's been a lot of. different on show industry since. power but it's true that most of these has focused more in th

>> i don't cover morgan stanley. my partner, jeff hart does he can address the price target of morgan stanley. >> i'm sure if you're liking it, the ceo is speaking quite positively about it and perhaps the share also come around, down 4% today rich, we really appreciate your time. >> thank you. >> richard peto. dom chu, thank you as well, sir. >>> still ahead to come on "the exchange," the dow down as many as 388 points earlier, falling for the fourth time in five days yields have been declining and the dollar continues to rally. dollar index is now at its highest level in nearly three years. joining us, head of investments at victory, and rick santelli joins us as well rick, first to you set the landscape here, as bob mentioned on the top of the show, things had looked more grim over the past couple of hours. is that triggered by these drops in bonds what are you seeing out there? >> i'll tell you what. bonds, interest rates, domestic and global, are all tied in, in various channels today in particular, i would like

at morgan stanley headquarters in new york, 11:00 a.m. on wall street and "squawk alley" is live ♪ >> good thursday morning welcome to "squawk alley." i'm carl quintanilla with morgan brennan and jon fortt at post 9 of the new york stock exchange we're going to start today with morgan stanley's $13 billion akwy sessiak ak akwywy situation of e-trade. 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 e-trade back in 2002 when he was still at merrill. he said the conversations this time got real in december. here's what he had to say about that $13 billion price tag >> i never worry about strategy. i'm never trying to copy what somebody else is doing we have to do what's 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 that's what we d

before morgan stanley jumped in they couldn't quite come to terms. let's talk about e*trade, what did barron's like about e*trade? >> they're good mobile and visuals for the also have options you can practice without paper money. >> a thing it so interesting when you look at this list we have e*trade at number three about to be snatched up by morgan stanley but four and five give charles schwab and they announced the type at the end of the year. so the amount in this industry is just really setting. jack: i think that's what happens when ed two big engines of making money. you could charge commission and then when you put money end, they sweep into these accounts that were charging or paying you nothing, but meanwhile they could make interest. now that margin is pretty much gone. >> if you're not an active trader you at the easiest possible thing. i think ten years ago i estimate is real smart about him pewter should i get an apple or the one that runs microsoft. he said apple is too dumb to buy computers i bow in the next day what is the one for peo

now they can do it all at morgan stanley. we think we have $7 trillion of assets between e*trade and morgan stanley. we want to bring those funds here. >> you have the number one stock trading business in the world, as well. jp morgan is trying to knock at your door when it comes to that business. how does the e*trade acquisition and tear trading business? james: that is the equity business, number one in the world. we were number five post crisis. technology within our trading platform, i think e*trade could be added and vice versa. we are excited about using some of their technology, not just in wealth management but across our asset management platforms as well as equities and fixed-income. emily: that was morgan stanley ceo james gorman. the deal prompted a downgrade from wells fargo security senior analyst mike mayo. he spoke with bloomberg vonnie quinn and guy johnson. >> you can't be a bank analyst without being a part-time tech analyst and this acquisition of morgan stanley buying e*trade is about digital brokerage an

morgan stanley buying e*trade for about $13 billion. we get own to wilfred frost joins us on the newsline with some of the details. >> good morning andrew, good morning, guys. clearly buying e*trade at a relatively depressed price following the price wars last year e*trade shares peaked at 65 bucks in 2018, closed last night at 20 bucks or so, lower than that it's a $13 billion transaction, so it's not enormous for morgan stanley, whose market cap is about $90 billion. it's an all stock transaction, but the fact that this is all stock is interesting, when you consider the size of it, because morgan stanley own stock has been depressed the last couple of years, despite e*trade cheap relative to its own history, the two companies have similar and e*trade has a better price-to-book multiple the great run we've seen in morgan stanley shares since october, up about 40% or so, i'm sure made a difference as to the timing of when morgan stanley decided to pull the trigger for this what about the strategic decision, wealth management is a key pa

so why are we seeing the likes of morgan stanley keen to move into the brokerage sector. they need to from a big investment banks like morgan stanley goldman sachs to look into a we as a growth over the last couple of years in goldman say case we have seen a push into retail banking and lending through new businesses like mark. korda for example in morgan's case their latest operation need to clear opportunity to grow its wealth management business with mom and pop investors. price war among the retail brokerage platforms instigated by robin who do we know commission rule has forced the major players to either join forces such as the case of charles schwab and t.d. ameritrade later last year. price converting that company like eye candy for long time suitors like morgan stanley jose thanks for joining us that's jose luis de haro in new york for us. now the corona virus is affecting the global economy as demand for goods and services declines in china one of the many industries affected are the airlines who have been forced to cancel flights to the country now the internat

morgan stanley agreeing to buy e*trade for $13 billion earlier today. bloomberggorman told a purchase was not a hard decision. for anust put at risk half months of last year's earnings to buy an iconic institution with $600 billion in assets, $300 billion in revenues that will improve our models. this was a no-brainer from that perspective. shery: joining us now is jenny. is this just another wall street bank tried to get those main street customers? >> i think that is what is driving a lot of it. you heard james gorman this morning say this is a chance for us to increase what our wealth management unit does. right now they cater to the wealthiest of the u.s. consumer. this will give them access to more of the retail investors. amanda: it is funny the way he put it, they spent about what you are supposed to spend on an engagement ring, on this company. on the other hand, they are buying a part of the market where we have seen margin compression, pricing competition. is there some concern that may have overpaid for this? >> earlier, he was talking about

that was morgan stanley ceo, james gorman. adil prompted a downgrade from wells fargo senior analyst. analystannot be a bank without being a part-time tech analyst. the acquisition of morgan stanley buying e*trade is about digital banking. i think it is a fair question but $13 billion for a company that is this stock market sensitive? at a time when you have peak retail investor engagement and high stock prices. we not saying this is the top but this is not the bottom. the plain old timing of this paying 15 times the earnings for a company for starters is not ideal. >> i heard a lot about the corporate stock plan business and this is a fantastic business. it is really undervalued in e*trade. is that argument not backed up? >> this goes to the idea of revenue synergies. a brokerage firm can get customers in a variety of ways, digital delivery, or through the workplace and to the extent morgan stanley has a broader suite of products -- if you are in e*trade customer, you should said this is fantastic. i would love to be in e*tra

but first, morgan stanley buying e*trade. what it means for investors liki y oyo nghr. xt on "power lunch." through the at&t network, edge-to-edge intelligence gives you the power to see every corner of your growing business. from finding out what's selling best... to managing your fleet... to collaborating remotely with your teams. giving you a nice big edge over your competition. that's the power of edge-to-edge intelligence. which of your devices are protected by daily security updates? daily security updates... daily? i don't know. the only thing... i'm struggling with this. some providers you have to manually download updates to each device. comcast business securityedge updates every 10 minutes to help keep your connected devices protected against new ransomware, malware and phishing threats. every 10 minutes feels pretty good. get secure, reliable internet and voice for an amazing price. call today. comcast business. >>> morgan stanley acquiring e*trade for 13 billion, the biggest takeover since the financial krois is morgan stanley will make a play for the masse

and you can hear more from morgan in the test match special podcast. depending on what happens with manchester city's in europe next season — fifth place could be all important in the premier league and may be a path to the champions league. well tottenham are occupying that right spot right now — but onlyjust after a late late winner in an eventful game against aston villa. 3—2 in finished. joe lynskey can tell us more... josie moreno has a new look, and search familiar prize. he holds the spurs towards the top four and could still be in the champions league next season. aston villa just wants to stay as a premier league side, ever ricochet matters in their bid to survive. he took the lead in this match through the own goal, but soon the belgian turned his afternoon around. a broken spin and strike brought spurs level, redemption and a week where he had a baby boy. and more fine margins turn to the game spurs way, first the challenge was ruled fair but then after another look, penalty, turning point. it even though he missed it, he was quickest

it's an amazing strategic bit for morgan stanley it is quite expensive. it's a good for goldman sachs, but not quite as good, but the currency with a morgan share price was weaker so you can understand i will also day neither of them will have wanted to say this deal -- and in that sense it's a big of a win here for james gorman here >> we've got more guests to discuss this with us, victor, from the online broker, and former director of trading at td ameritrade, and rudie adolph good afternoon to you both i'm going to come to you first, 4% down, stephanie >> i like the risk, about 3.1 trillion in assets 5 million new customers, to bring in about 60% of your business and less reliant on the institutional side that helps on the fee business side and then you get the millennial, a younger generation i like the strategies, but i did like your comments about the technology innovation, and that's what all these companies are spending a ton of money on is in technology you've got to integrate it. >> victor, i wonder what you make of this deal, a company like you

morgan stanley moving to the downside. a lot ofwaa lofty price tag. downgraded morgan stanley. that hasgest bank deal been done since the financial crisis and it creates large players, more than $3 billion in asset management. e*trade is seen as a potential , but the factt you are seeing consolidation elsewhere in the space like charles schwab and td ameritrade which reached a deal last year, combining to become a $5 trillion asset manager. e*trade has to compete with that. david: it seems like scale is the name of the game. at the same time, you need to make money. --s e*trade have the market the margins morgan stanley is used to? kailey: that is a lot of the things the street is flagging in their more critical view of this deal. morgan stanley is dubbing down on wealth management. morgan stanley's traditional clientele is the wealthy investor. as james morgan put it on the call, this gives them access to emerging wealth. ,ow this deal post e*trade morgan stanley would get 57% of revenue from the individual investors. david: entry-level private wealth. kailey: get them early.

morgan asset strategy stays with us. coming up, that interview, you do not want to miss it, 1:00 p.m. london time. this is bloomberg. ♪ this is bloomberg. ♪ francine: on friday, we bloomberg's "etf iq europe. " this is "bloomberg surveillance ." still with us, john bilton from jp morgan asset management. i cannot bear myself to ask another question, because i think it is really difficult, the impact on earnings. john: [laughs] francine: around the world, it looks like european earnings, but it is actually emerging market earnings that cannot be sold off at this point, or the share cannot be sold off, depending. well, at the end of the day, if you get a massive supply chain, then anything can selloff. if you get a true and you say that is complete, i think what you can do is make a calculated assessment that the parts of the economy globally that are more ,nsulated, and that is the u.s. actually they can be more resilient in terms of their earnings, so you have got some of the big tech firms talking about the fact tha

and morgan stanley will buy e*trade. bloomberg went to the top to analyze these moves starting with morgan stanley's chief executive. >> i have always felt e*trade was an incredible brand, great technology, clearly doing stuff on the digital side at a pace ahead of where we were. we had a constant debate of build versus buy and felt we were in a condition to make a bold move and we went for it. >> why was e*trade the right business as opposed to a newer business? you say digital was a big deal for you. you considered robin hood? >> i like the e*trade business model. they have a lot of clients. they have one of the best digital online banking businesses in the marketplace, and they sit on $600 billion of assets. added to us at $3.1 trillion, you add the stock business sitting on $600 billion, we have $21 billion in combined wealth management revenues and that takes our margins up 30%. it is not comparable. robin hood is a completely different kind of business. i like real businesses, real revenues, real profits, real clie

morgan hill police posting this photo on their facebook page. the father to be called and said the baby couldn't wait. officers found the family on sutter and jar advice, next to the walmart there in morgan hill. the mom began to give birthright when they arrived. the delivery was a success, and the baby girl is doing well. >> good job. congratulations to the family and the officer. >> morgan hill p.d. thanks for joining us here at 5:00. as a reminder, lester holt is next with "nightly news." >> we'll be back at 6:00. see you then. bye. >>> breaking news tonight. the dire new warning about the coronavirus in the u.s the cdc saying the outbreak here at home is inevitable. americans told to brace for major disruptions. schools and businesses advise to prepare for closings coronavirus fears tanking the stock market again, the dow plunging nearly 900 points the message from president trump, it's all under control. tonight our team across the globe as cases spread and the toll rises >>> also tonight, the showdown in south carolina democratic front-ru

breaking news. 6.5 million shares set to be offered up morgan shanley -- morgan stanley. the shares closed around $40 per ,hare coming up on this program the final. democratic candidates make their case in new hampshire but they don't have the state to themselves. my president trump decided to hold his own rally -- why the trump decided to hold his own rally in the granite state. this is bloomberg. ♪ scarlet: new hampshire heads to the polls tomorrow for the first in the nation primary. democratic presidential candidates are trying to move on from the iowa caucus debacle. charlie pellett the stage for us with this report. >> we are going on to nick hampshire -- on to new hampshire victorious. charlie: people in new hampshire like to say, i will pick, we picked presidents. the numbers seem to back up that plan -- that claim. last 174 of the primaries, the winner went on to be president. this year, some say maybe the results should come with an asterisk. bernie sanders is from vermont, elizabeth warren is from massachusetts. joe biden advocates point out that politicians

and morgan stanley agreed to buy discount broker e*trade. bloomberg went to the top to analyze these moves starting with morgan stanley's chief executive, james gorman. >> i have always felt e*trade was an incredible brand, great technology, incredible company, but clearly doing stuff on the digital side at a pace ahead of where we were. so we had a constant debate of build versus buy and felt we were in a condition to make a bold move and we went for it. reporter: so why was e*trade the right business as opposed to a newer business? you say digital was a big deal for you. have you considered robin hood? mr. gorman: i like the e*trade business model. they have a lot of clients. they have one of the best digital online banking businesses in the marketplace, and they sit on $600 billion of assets. so added to us at $3.1 trillion, you add the stock business two hours, sitting on $600 billion, we have $21 billion in combined wealth management revenues, big time margins above 30%. it is not comparable. robin hood is a completely different kind of

tomas morgan, bbc news, monmouth. this is the briefing from bbc news. the latest headlines: in germany, large crowds have joined vigils for the nine people shot dead by a far—right extremist in the town of hanau. many were immigrants from turkey, one was romanian. police are investigating whether the gunman had accomplices. a 28—year—old new zealander who killed the british backpacker grace millane has been sentenced to life in prison. the man was convicted in november of strangling miss millane, hours after they met through a dating website. voting has begun in iran's parliamentary election, which is expected to strengthen the country's supreme leader ayatollah ali khamenei. thousands of reformist candidates were barred from running and there have been calls for a mass boycott. now it's time to look at the stories that are making the headlines in the media across the world. we begin with the morgenpost in germany asking: how many more people must die before we take right—wing terrorism seriously? that's after the racist shooting of nine people

morgan declined clarify, this coming from the us mediaj.p. morgan declined comment and sussex spokesperson also declined comment on a private schedule in place, so more and more of that in the coming weeks and months, but rachel and claire, thank you very much for this edition and will be back again at 1130 for another look at the papers. do not forget they are all online for you at the bbc news claire and rachel will be back at 11.30 for another look at the papers, and don't forget you can see the front pages of the papers online on the bbc news website. it's all there for you — seven days a week at bbc.co.uk/papers — and if you miss the programme any evening you can watch it later on bbc iplayer. many thanks to claire and rachel for joining me and thank you for watching. the headlines are coming up, first here's the weather. hello. to answer the question. the big question is how strong will the wind get. ciara arrives on sunday and the whole of the country, can be up and the whole of the country, can be up dated so make sure you stay tu

and you can hear more from morgan in the test match special podcast. fifth place in the premier league could carry extra prominance depending on what happens with manchester city's european ban. a champions league spot could be the reward and tottenham occupy fifth at the minute. an entertaining 3—2 win over aston villa owed much to this man — son hueng min. joe lynskey can tell us more. jose mourinho has a new look, and search familiar prize. he holds the spurs towards the top four and could still be in the champions league next season. aston villa just wants to stay as a premier league side, ever ricochet matters in their bid to survive. he took the lead in this match through the own goal, but soon the belgian turned his afternoon around. a brilliant spin and strike brought spurs level, redemption in a week where he had a baby boy. and more fine margins turn to the game spurs way, first the challenge was ruled fair but then after another look, penalty, turning point. even though he missed it, he was quickest to react, 2—i, but with spurs seekin

morgan sta nley pages, financial times. morgan stanley buying etrade, what you make of it? when you look at the performance of goldman sachs and morgan stanley, jp morgan has managed to combine both brilliantly, the fees they are getting from corporate finance and from investment banking and from trading are somewhat down because of regulation, it means their degrees of profitability are limited and they have to offer shareholder value and growth to their shareholders. don't worry, i'm not going to get my handkerchief out and out my eyes for them, but what i'm saying is we have seen goldman sachs go into it by having a deposit from people like you andi deposit from people like you and i on the streets. when interest rates are very low like they are now, the actual value is very limited. but this, it is a lot smaller than the tdm trade, the charles schwab motor last year, but an acquisition by morgan stanley to try to corner, through this company, etrade, what you call the millennials' wealth, where eve ryo ne the millennials' wealth, where everyone is online, trading, stop

it's right for morgan stanley. it may not be right for anyone else, but it is right for them >> what do you think about goldman sachs and their efforts particularly the focus on the consumer it's a nascent effort but one that's not unimportant in terms of that institution and the significant change that seems to be undergoing. >> again, i think they have made a decision, and i am sure with a lot of care and research, this is an area they can serve and serve well they clearly have a century-plus-long track record of figuring this out and i suspect they will do just as well with the consumer as they have done with the institution >> e-trade is a name we talked about 20 years ago in a much different expecter of the markets. now with zero commissions there's data coming out that retail investors are trading with more frequency because it's free, essentially. >> sure. >> i wonder what kind of implications that has for m&a? if we're truly in an era where mom and pops are getting back in the market >> well, i think that i

they e no doubt trying to get some rest live in morgan hill rob fladeboe kron 4 news. >>thank you are a great story now another big story we're flowing tonighthundreds of oakland police officers and civilian employees ofthe department turned out here to say goodbye to their former chief and the optics year ar noteworthy yeah thursday, the oakland police commissionand the mayor fired and kirkpatrick without cause. >>kron four's maureen kell talked to the cqc's chief and sever rank and file members who say they're still reeling from the decision. >>and y know we love >>now out of uniform and kirkpatrick has long line of sworn and non sworemploys of the oakland police department her voice cracked with emotion as she talked to the media. >>i love them and i'm supporting them and i have loved being a part of this community love being in oakland are. and i'm just sad that i have to say gooye details on what led the unanimous decision by the police commission anthe mayor. to fire the chf were not disclosed other than this was a no cause termination a personnel matterirkpatric

morgan coins which could be used to make instantaneous payments using block chain. when i always look at these things when you see j.p. morgan getting involved in block cryptocurrency you know i know they've been in the space for actually quite a while. but when i see an institutional get involved i get excited because i think that's adding credibility folks on the block chain a critic really don't always feel that way right not necessarily because listen blog big point was created to free us from banks right and from that relationship and yet when j.p. morgan gets of all this not necessarily a good sign number one number 2 and there's this is where so disingenuous remember that jamie diamond who's the head of j.p. morgan actually criticized the coin for a long time saying that it was worthless and it was garbage and now all of a sudden you want to issue your own j.p. morgan coin so there's a hypocrisy there over 10000 today by the way just in case anybody. until i make my own and then that'll get worth something. loosely. and embattled office sharing startup we wor

morgan coin so there's a hypocrisy there over 10000 today by the way just in case anybody. until i make my own and then that'll get worth something. loosely. and embattled office sharing startup we work announced a plan today to become free cash flow positive by 2022 the company which recently named real estate better and sundeep month ronnie as c.e.o. has struggled after a 2 $1100.00 i feel failed to get off the ground exposing weaknesses in their business now we work also plans to have their 1st ever $1000000000.00 revenue quarter in 2020 and hopes to have free cash flow over $1000000000.00 by 2024 the company also announced that the news of 3 members of their board of directors having stepped down we work is hoping to reach $1000.00 locations worldwide by 2021 an increase from their current $739.00 locations meanwhile the company's executive chairman marcello clere clarified reports that ousted c.e.o. adam neumann walked away from the company with more than $1000000000.00 in an interview with c. and b. c. clowery said he called the news totally false so that was totally

john is the former mayor of morgan hill. their the message we received is really a positive message, to kick start this project and move it forward. we're all about public safety. and this is what we want to do. >> reporter: the projected cost runs over a half billion dollars. an assembly bill has been introduced to speed it up. abc7 news. >> all week long, we are taking a closer look at b.a.r.t. as part of our building a better bret baier. >> we're looking at what's next for the transit agency. >>> i'm dan ashley live at the pleasant hill b.a.r.t. station. we are asking commuters, dear b.a.r.t., what do they think of the steyer: wall street banks took of millions of americans during the recession. so, my wife kat and i took action. we started a non-profit community bank with a simple theory- give people a fair deal and real economic power. invest in the community. in businesses owned by women and people of color. in affordable housing. the difference between words and actions matters. that's a lesson politicians in washingt

how does this change morgan vent -- how does this change morgan stanley? >> less than you would think. you would think that the stock clients are our corporate institutions, so that is not different at all. and for many of us, having advisory relationships also have online accounts with our banks or with a financial institution providing advice. so i think the channels in the last 20 years, have come together. you have to build businesses that make your clients happy, convenient to them, not convenient to yourselves. and our financial advisors, already our clients are constantly working electronically with financial advisors with morgan stanley. so the channels have converged. ♪ league of banks and he has been leading one of those banks for seven years successfully in a very difficult market environment he knows how to interact with regulators globally, knows global regulation and knows banking strategy, knows digital, so he brings a lot to the table. we are honored to have him join us. and we also say sergio marty has been a fantastic ceo for nine years

morgan gets involved it's not necessarily a good sign number one number 2 and there's this is where so disingenuous remember that jamie diamond who's the head of j.p. morgan actually criticized the coin for a long time saying that it was worthless and it was garbage and now all of a sudden you want to issue your own j.p. morgan coin if there's a hypocrisy there over 10000 today by the way just in case anybody is worth less and so i make my own and then that'll get worth something. battled office sharing startup we work announced a plan tuesday to become free cash flow positive by 2022 the company which recently named real estate better and sundeep ronnie as c.e.o. have struggled after a 200-1009. 101st ever $1000000000.00 revenue quarter in 2020 and hopes to have free cash flow over $1000000000.00 by 2024 of the. we also announce that the news of 3 members of their board of directors having stepped down we work is hoping to reach 1000 locations worldwide by 2021 an increase from their current 739 locations meanwhile the company's executive chairman marcello clere clarified reports that

maria: assets under management for morgan, $3 trillion under the morgan umbrella. the race to gather assets has been going on for a while in financial services and certainly in wealth management. ubs was the first to start focusing just on wealth management. what does it mean for the economy? you've got the coronavirus impact on the economy. all three major indices reached record highs yesterday, sealing small pullbacks on coronavirus news. goldman sachs is warning clients about a possible correction, saying investors are underestimating the risk associated with the health crisis which has spread across the world as you can see there from our map. joining us now is the former under secretary of state for economic growth, energy and the environment, bob hormath. how does the coronavirus play into your estimates in terms of economic growth? >> well, first of all, china is the second biggest economy in the world, it's very connected to the rest of the global economy. just a couple numbers to illustrate the point. in 2003, when we had the sars epidemic in china, it las

morgan gets involved it's not necessarily a good sign number one number 2 and there's this is where so disingenuous remember that jamie dimon who's the head of j.p. morgan actually criticized the coin for a long time saying that it was worthless and it was garbage and now all of a sudden you want to issue your own j.p. morgan coin so there's a hypocrisy there over 10000 today by the way just in case anybody is worth less and so i make my own and then that'll get worth something. battled office sharing startup we work announced a plan tuesday to become free cash flow positive by 2022 the company which recently named real estate better and sundeep ronnie as c.e.o. have struggled after a 200-1009. 101st ever $1000000000.00 revenue quarter in 2020 and hopes to have free cash flow over $1000000000.00 by 2024. they also announce that the news of 3 members of their board of directors having stepped down we work is hoping to reach 1000 locations worldwide by 2021 an increase from their current 739 locations meanwhile the company's executive chairman marcello clere clarified reports that ousted

no formal accusations have been made against jp morgan. brexit may be about to get worse for london. authorities want to walk away from concessions they made in the six years it took to complete the regulations. stocks and commodities are likely to be revised. u.s., models -- u.s. models will help gm offset weaker sales by shifting more expensive models. but the 40 day strike hurt profits at the automaker. those are your business flash headlines this morning. coming up, don't go jason momentum. that is jp morgan's recommendation. premier risk despite the rebound. your morning call on daybreak europe. ♪ manus: this is "bloomberg daybreak: europe." nejra: i am nejra che pitch in london. cehic in london. christine lagarde testifies at eu parliament. we look for any comment on the coronavirus. non-farms., we get productivity and jobless claims. manufacturing hit a five-month high yesterday. will: robert kaplan address the economic outlook at the university of texas 2:00 p.m. london time. on the earnings front, they continue unabated. twitter

i agree with piers morgan for the first time i think ever. it takes a lot of guts to do this, especially if you have a public figure you're absolutely right, i have done the coming out thing. it in private or at the idea of doing it to millions of people on live tv across the nation is absolutely, it is incredibly brave or distant because there is a very sad element, obviously, his wife and also that he felt that he had to hide it for as long as he did and i think real the times of changed is that the reaction has been universally positive and it obviously was not there when the past otherwise it would not have taken so long to do. but a message and notjust taken so long to do. but a message and not just what taken so long to do. but a message and notjust what he did browse the reaction, proud, people calling them brave and a lot of people to saying obviously doesn't really in any way impact with the thought of him professionally or personally, they're going to be a lot of teenagers watching this who, perhaps of their own insecurities in thei

the other big story today that could impact the way that you invest and with whom, morgan st stanley announcing that it is buying e-trade, shares having their best day as you would expect here is what the ceo of goldman stanley tells us why he did the deal >> this gives us both the workplace and core financial advisory which is unchanged. and then for morgan stanley, just it is a capital business, part of the journey. >> and josh, i know you have a big take on this deal. >>er just feel l ee eer i feel bidding against themselves e trade is fine. they corporate stock transfer and they open brokerage accounts but i don't think that it is worth $13 billion. and james gorman has been a great ceo. he's done well i think in this case they are probably buying something that they think is way more than it is this looks like it is a gigantic iceberg, but it is floating on its way into 60 degree waters. and it will melt very slowly and there is nothing about the brand that matters to the consumer and really no business there anymore. commissions on mutual fund trades, individual equity trades,

the investigation this morning in morgan hill. that is cox 5 and streaming on now, we know the trump strategy- try to win by attacking, distorting, dividing. cr tru fears most. mr. president: it. won't. work.s as president, universal healthcare that lets people keep their coverage if they like it. a record on job creation. a doable plan to combat climate change. i led a complex, diverse city through 9-11 and i have common sense plans to move america away from chaos to progress! i'm mike bloomberg and i approve this message. brzezinsktom steyer...k at this. berman: tom steyer... o'donnell: surging in nevada. scarborough: this is working for tom steyer. o'donnell: surging in rg two s out of nevada and south carolina. wallace: polling at double digits. king: up eleven points from october. that is dramatic. steyer: i'm saying we have a broken government. that's what's going on in washington, dc. it's been bought by corporations, and my question to the american people is who do you think is going to change that? i'm tom steyer and i ap

morgan radford is here with more on the big game. hey, morgan! >> a national holiday, indeed, willie. in fact, whether you're a football fanatic, like you, or you just like to eat chips and gawk while watching the commercials, the super bowl has something for everyone. miami's hard rock stadium will definitely be rocking when the kansas city chiefs and the san francisco 49ers take the field tonight. leading the way for the chiefs, 24-year-old quarterback patrick mahomes, who has a cannon for an arm and a burning desire to win the super bowl for his coach, andy reid, who's the winningest nfl head coach in history without a super bowl ring. >> we want to win a super bowl. we want to get one for him and put that on his resume because he deserves it. >> reporter: the 49ers rely mostly on their running game, but niners fans also love their quarterback with the movie star looks. jimmy garoppolo, who used to back up tom brady in new england. the 49ers' success due in large part to coach kyle shanahan, who grew up wanting to be just like his father, two-