Business Digest, January 16, 2013

Morgan Stanley plans to trim about 15 per cent of its investment banking positions in Asia, higher than the global average of 6 per cent, as it starts a round of job cuts this week, two people with knowledge of the matter sais. They said Asian managing directors Saul Raccah and Leon Guo were among those who would leave. Bloomberg

China Investment Corp, the country's sovereign wealth fund, could cut its holdings of US treasury bonds as they were becoming a less attractive investment, the official quoted CIC chairman Lou Jiwei as saying. AFP