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11:11 | Morgan Stanley cuts 2,500 jobs, China raises defence budget, West Asia war rages on
Morgan Stanley has announced 2,500 job cuts despite reporting record revenues. Concurrently, China has increased its defense spending to $275 billion, and Putin has indicated Russia might halt gas supplies to Europe. The article also mentions a rebound for the rupee, a safe-haven rally for gold, and reports on the ongoing West Asia conflict.