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Wealthy clients liquidate some investments every year to cover their tax bill, so presumably this was higher than what Morgan Stanley has seen previously.

BMW said Oliver Zipse will become chief executive on Aug. 16, picking the 55-year-old manufacturing expert to help the German automaker make the shift to electric and self-driving cars and tackle new competition from technology giants.

Oil fell about 2.5% a barrel on Thursday, weighed down by weakness in U.S. equities markets and an expectation that crude output would rise in the Gulf of Mexico following last week's hurricane in the region.

The U.S. Justice Department has told T-Mobile US Inc and Sprint Corp to wrap up a deal by the end of next week to sell assets that need to be divested or face a lawsuit aimed at stopping their proposed merger, a source familiar with the deal said on Thursday.

U.S. stocks moved higher on Thursday after a slow start as comments from New York Fed President John Williams helped cement expectations for an interest rate cut from the U.S. central bank at the end of the month.

Microsoft Corp beat analysts' estimates for fourth-quarter revenue and profit on Thursday, even as sales growth began to slow for its cloud product Azure and Office software.

Boeing said on Thursday it would take an after-tax charge of $4.9 billion in the second quarter related to estimated disruptions from the grounding of its 737 MAX after two deadly crashes.

A gauge of global stocks advanced on Thursday, erasing declines on a late rally after comments from a U.S. Federal Reserve policymaker heightened expectations for a rate cut, while oil prices dropped on forecasts of rising output.

Microsoft Corp on Thursday beat analysts' estimates for fourth-quarter revenue and profit, powered by continued sales increases from its cloud business and a boost from businesses upgrading Windows.

Boeing Co said on Thursday it would take an after-tax charge of $4.9 billion in the second quarter on estimated disruptions from the prolonged grounding of its lucrative 737 MAX passenger planes after two deadly crashes.

President Donald Trump wants a cheaper dollar, saying earlier this month the United States should match what he says are efforts by other countries to weaken their own currencies - giving them an unfair trade advantage.

Booming stock markets around the globe helped Goldman Sachs Group Inc offset declines in other businesses last quarter, but those gains may not be sustainable, analysts said.

Microsoft Corp on Thursday beat analysts' estimates for fourth-quarter revenue and profit, driven by continued sales increases from its cloud business and sending its shares to all-time highs.

U.S. President Donald Trump met on Thursday with the chief executives of major American airlines to discuss their accusations that subsidies by Qatar and United Arab Emirates are costing jobs in the United States.

A U.S. airline industry group said it had a "productive" meeting on Thursday with President Donald Trump, who "shares our concerns" about accusations that subsidies by Qatar and the United Arab Emirates are costing jobs in the United States.