Morgan Stanley’s wealth management business said on Monday it is lowering the commissions that brokers earn on stock trades, exchange-traded funds and annuities amid pressure to lower costs for clients. Commissions for brokers are now capped at 2.5 percent of a trade, the investment news website AdvisorHub.com reported earlier Monday. Morgan Stanley spokeswoman Christine Jockle said that the change, which also affects unit investment trusts, is intended to “better align client costs” with broker

Republicans who eagerly awaited a GOP president so they could take a heavy knife to many of the regulatory requirements for banks, insurers and other financial institutions finally get their chance. The House Financial Services Committee, led by Texas Rep. Jeb Hensarling, is slated to begin work Tuesday on legislation to largely undo the Dodd-Frank law, which Congress passed and Democratic President Barack Obama signed after the financial meltdown in 2008. She told the committee that banks of al

During the 13-minute speech, Kimmel also gave an impassioned defense of Obamacare and criticized President Donald Trump’s failed attempts to cut health spending. His son, William “Billy” John Kimmel, appeared fine when he was born on April 21. But a nurse noticed the baby had heart murmur and appeared purple in color. After “more doctors and nurses and equipment came in — it’s a terrifying thing” — his newborn underwent successful surgery, Kimmel said, adding: “It was the longest three hours of

In her much-anticipated book, “Women Who Work: Rewriting The Rules For Success,” released today, Ivanka Trump joins a high-profile chorus of women who agree that the most desired and discussed of modern professional ideals, work-life balance, actually doesn’t exist. “If I am negotiating a major partnership, I might work three weeks straight,” Trump writes. “If I’m planning a work trip, I know not to book something the night before I leave or after I return because I want to spend time with my fa

The annual “Best Small Business Cities in America” ranking of 25 cities is based on a weighted average of data on Biz2Credit’s customers across the country. The New York Small Business Development Center and the New York City Small Business Services have fueled small-business growth and entrepreneurship through various initiatives. These are backed by Mayor Bill de Blasio, who tasked city agencies with fighting inequality and fostering a city where everyone has an opportunity to succeed, per New

A leading House Republican on Tuesday said he has told the GOP leadership he will vote against their bill to repeal and replace key parts of the Affordable Care Act. Upton revealed his intention to vote against the bill during a call with a Michigan radio station. “I know there are a good number of us that have raised red flags and real concerns” about the bill, Upton said. Moderate GOP members, as well as some others, fear that the bill could lead to much-higher insurance premiums for some Obam

He then wrote that the country “needs a good ‘shutdown’ in September” to fix a “mess.” Earlier this year, Senate Republicans voted to end the filibuster on Supreme Court nominees, allowing them to confirm Justice Neil Gorsuch with only a majority voter . However, Senate Majority Leader Mitch McConnell told reporters Tuesday that most senators do not want to kill the 60-vote threshold needed to stop filibusters on most legislation. However, he highlighted what he considered good provisions for Re

Personal-finance technology company SmartAsset.com recently ranked the top 10 U.S. states (and, in one case, federal district) whose citizens have the most personal debt. Key findings included:Richer states have more debt: The top 10 states or districts with the most debt (i.e., highest debt-to-income levels) have an average income of $31,832. The top 10 states or districts with the most debt (i.e., highest debt-to-income levels) have an average income of $31,832. Most debt = mortgages: On avera

Taco Bell’s Naked Chicken Chips are finally getting a nationwide release. The wedge-shaped chicken tenders, which were first tested last summer, are a follow-up menu item to Taco Bell’s widely successful Naked Chicken Chalupa, which saw its limited-time run end in March. “The world wasn’t ready to say goodbye to Naked Chicken, and neither were we,” Marisa Thalberg, chief marketing officer at Taco Bell. Taco Bell will be selling the Naked Chicken Chips with a nacho cheese dipping sauce as a six-p

“Getting big pieces of DNA efficiently into mammalian cells, engineering them rapidly, these will be major challenges,” he said. Since last May’s meeting, Kelley, Boeke and their collaborators have published an article in Science about the project, as well as a white paper outlining its timeline. They estimate GP-write should cost less, in total, than the $3 billion Human Genome Project, though they have not provided more specific cost projections. “I think articulation of our plan not to start

A daily morning look at the financial stories you need to know to start the day. STOCKS/ECONOMY-Stock futures are mixed after Monday’s modest close. The two-day Fed meeting begins today and we’ll also get the April auto sales numbers. -The Atlanta Federal Reserve bank projects the U.S. economy will grow a robust 4.3 percent this quarter. MOVING AMERICA-United CEO Oscar Munoz will testify at a Congressional hearing today about overbooking practices.

JPMorgan’s research team shared its top current stock picks in its monthly “U.S. Analyst Focus List” report to clients. “Each month, we ask our equity analysts for one to three of their best stock picks,” Nicholas Rosato, head of North America equity research, wrote in the note Tuesday. Here are four companies that JPMorgan recommended and their price targets. 1) Peabody Energy (BTU)”We feel Peabody Energy is significantly undervalued and should appreciate as selling pressure from credit investo

What if doctors could warn patients of their risk of heart attack hours, days or weeks in advance? Or flag an oncoming cold by monitoring changes in saliva with a smart toothbrush? That’s the future of medicine envisioned by Philips CEO Frans Van Houten, speaking with CNBC at the World Medical Innovation Forum in Boston. Philips, a brand name once more closely associated with consumer electronics and light bulbs, is investing heavily in health technology as the global population ages and informa

Misty, dream-like cloud forests…Olympian mountaintops with fertile river valleys…miles of pristine, empty beaches… Despite its small size, Costa Rica is one of the most beautiful and biodiverse countries in the world. In Costa Rica, it’s called queso. But in Costa Rica, queso refers almost exclusively to a bland, white cheese. More from International Living:A Low-Stress Income Perfect for a Thriving Tourist TownCulture, Coffee, and Natural Riches in Costa Rica’s Central ValleyA Fresh Start With

Tech CEO Elon Musk recently gave a TED Talk in which he discussed his portfolio of businesses, including Tesla, SolarCity and SpaceX. Musk, who’s known for his prowess as a business leader as much as he is for his outlandish ideas, also revealed something deeply personal about his leadership style, namely his motivation and why he dreams up the companies he does. “I’m just trying to think about the future,” says Musk, “and not be sad.”

Apple may have the largest overall stockpile, but plenty of other countries could also see substantial gains from a repatriation holiday. Repatriation at the current tax rate is usually avoided often enough that it is notable when large companies opt to retrieve cash and pay U.S. taxes. On the company’s February earnings call, Robbins said cash repatriation would not fundamentally change the company’s mergers and acquisitions strategy. But Gardner argues that any tax holiday would do little to r

President Donald Trump uttered the “S”word — shutdown — on Tuesday, and it could be the best news ever for his domestic agenda. All we needed was someone to have the courage to carry out at least a shutdown threat and trigger one if necessary. President Trump outlined the reasons why he might need a shutdown in a few tweets when he referenced the sub-60 vote reality in the Senate for the Republican Party. So, why didn’t the Republicans use a possible shutdown to stand up to the Democrats and cut

One technical measure of market strength shows that the rally is on firm footing, according to one technical analyst. Market breadth — the number of stocks advancing relative to the number of stocks falling — is now quite strong, observes Jonathan Krinsky, chief market technician at MKM Partners. Specifically, Krinsky is referring to market breadth within the Russell 3000, an index that tracks nearly all U.S. equities. And we held under that 60 percent threshold for almost two months before the

The VIX, as it is called, uses options to measure the market’s expected annualized change over the next 30 days. However, Saut believes valuation is a poor teacher when it comes to determining where the market will trade. If the current market hits that multiple, that would take the S&P 500 all the way up to about 3,100 — or a gaudy 30 percent surge from current levels. Bank of America Merrill Lynch strategists compare the levels of the 30-day VIX and its longer-term cousin, the CBOE S&P 500 3-M

“[We’ve] been hearing vendor after vendor … say we need to get smaller, but nobody has done it, right?” Shares of Coach stock at one point climbed more than 11 percent, driven higher as Wall Street digested the earnings results and contemplated the brand’s future. Investors feel there are so few places to “hide out in retail,” that signals of strength and measured growth are rewarded meaningfully, Siegel explained. To this end, a company like Coach is being rewarded on Tuesday, Siegel said. On