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."

Fed Stress Test Shows U.S. Gap With European Banks
46:17 - Big banks provided a big payout to shareholders after the Federal Reserve said U.S. firms are holding more than enough capital. Bloomberg Gadfly columnist Lionel Laurent reports on "Bloomberg Surveillance." The opinions expressed are his own. (Source: Bloomberg)
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