Lunchtime reading - 11:55AM

Morgan Stanley Sets Aside 72% of Revenue for Employees’ Pay - Bloomberg CIT Hit With Interest Rate More Than 25 Times Libor (Update2) - Bloomberg Wells Fargo’s Bad Loans Rise in Quarter; Shares Drop (Update2) - Bloomberg Morgan Stanley Loss Misses Estimates on Debt Costs (Update2) - Bloomberg Week-to-week mortgage filings up 2.8% as rates rise: MBA - MarketWatch Whirlpool shares off 10% as profit falls on weaker demand - MarketWatch Apple smashes profit forecasts, iPhone shines - Reuters