Morgan Stanley Expected to Cut 700 Jobs by Year-End

July 19 (Bloomberg) -- Bloomberg's Betty Liu and Dominic Chu report that Morgan Stanley’s headcount will fall by more than 700 by the end of this year, Chief Financial Officer Ruth Porat said. Morgan Stanley has already cut 3,272 jobs since the start of 2012 and the firm expects that number to climb to 4,000 by the end of the year. They speak on Bloomberg Television's "In The Loop."
LVMH Beats Estimates on Leather-Goods and Wine Sales
08:39 - LVMH Moet Hennessy Louis Vuitton reported an estimate-beating 15 percent increase in first-half earnings as sales of fashion and leather-goods accelerated and the wines-and-spirits division returned to growth. Bloomberg's Shery Ahn reports on "Trending Business." (Source: Bloomberg)
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