Morgan Stanley reports fall in quarterly profit

(Reuters) - Wall Street investment bank Morgan Stanley reported a fall in adjusted second-quarter profit on Wednesday as cost-cutting failed to make up for a decline in revenue from trading and investment banking. The bank said its net income attributable to common shareholders was $1.43 billion (£1.08 billion), or 75 cents per share, in the quarter ended June 30. Morgan Stanley reported an adjusted profit of $1.69 billion, or 79 cents per share, a year earlier.