U.S. stocks were lower in early afternoon trading on Monday as health and consumer discretionary stocks declined and investors awaited key economic data including the November jobs report.
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WASHINGTON The Federal Reserve Board on Monday approved a proposal to curb its emergency lending powers, a change demanded by Congress after the central bank's controversial decision to aid AIG , Citigroup and others in 2008.
Morgan Stanley plans to cut up to 25 percent of its fixed-income jobs, Bloomberg reported, citing people with familiar with the matter.
LONDON Tom Hayes, the first trader convicted by a jury of manipulating Libor benchmark interest rates, on Tuesday begins a two-day, appeal against his conviction and a 14-year jail sentence, one of the toughest to date for white collar crime.
Tribune Publishing Co said it was not in talks or in the process of selling itself, after a tweet by News Corp's Rupert Murdoch on Friday that suggested Tribune's newspaper group would be sold.
LONDON Global investors raised allocations to U.S. and British equities in November and lifted weightings of selected emerging market assets to multi-year highs as some managers positioned for a potential rebound in the sector.