Morgan Stanley co-president Zoe Cruz is the latest casualty of the mortgage crisis, leaving after 25 years at the firm.
John Thain may bring aboard Nelson Chai of NYSE Euronext as he takes the helm at Merrill, The Wall Street Journal reported.
The price index for personal consumption expenditures increased 0.3% for the second consecutive month in October.
The firm will change its pay policies to comply with a wage-and-hour lawsuit the firm settled last year.
The White House toned down its forecast for economic growth for 2008, but still predicted "solid growth" throughout the year.
Josh Brooks, chief investment officer for large-cap equities at Putnam Investments, is leaving the firm.
Individual life insurance premium sales jumped 20% during the third quarter, according to LIMRA International.
Banks will not displace wirehouse channels, but will receive a larger share of growth and assets.
The dollar rose against the euro this morning, trading at $1.4743, up from $1.4841 yesterday.
The third-quarter economy expanded at its fastest pace in four years, growing 4.9%, according to a Department of Commerce report.
