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Morgan Stanley keeps cutting costs as revenue growth stays elusive

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Published Tue, Apr 19, 2016 · 09:50 PM

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    New York

    HAVING searched high and low for revenue growth with little success, Morgan Stanley is taking a hatchet to costs.

    The bank cut total expenses by 14 per cent last quarter, results released on Monday showed. This followed an even sharper decline the prior period when it announced a sweeping plan to shed more of its bond trading business.

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