Morgan Stanley plans to cut up to 25 percent of its fixed-income jobs, according to a person familiar with the matter. The workforce reduction will be across all regions and is set to take place in the next two weeks, the person said.
Target's website crashed on Cyber Monday, one of the biggest shopping days of the year. The mega-retailer is offering 15% off every online order on Monday, along with 30% off select clothing, shoes and toys.
BEIJING—An official gauge of China's manufacturing activity fell to its lowest level in more than three years, fueling fears that the world's second-largest economy may be cooling further despite a raft of government stimulus measures.
... * U.K. Shin to cede day-to-day handsets business role. * Smartphone business struggling despite product revamp (Updates with comments from Samsung Group, background).
Bill Gates, the world's richest man, led a group of philanthropists in vowing to plow $2 billion into clean energy through personal investments and a new fund to be set up next year.