Friday's Headlines: Fears of Job Losses as Earnings Forecasts Darken
Poor third quarter forecasts at the largest U.S. banks have renewed fears that job losses are looming. [FT]
Dexia plans to eliminate nearly 700 jobs as part of a cost cutting move. [WSJ]
Broker Securities America Financial Corp. will take on 45 reps managing $500 million in assets from defunct broker-dealer Equitas Financial Advisors Inc. [Investment News]
Lawyers for Morgan Stanley say that the bank should not be liable for damages as a result of $45 billion in compensation doled out to senior execs such as current and former chief executive officers John Mack and James Gorman.
Deutsche Bank named 13 members to its executive committee, which oversees the bank's the corporate finance business. [BusinessWeek]