Good morning! Here's what you need to know.Credit Suisse is raising capital. The Swiss bank will raise CHF6 billion ($6.3 billion) as part of a strategic overahaul that will see the bank focus on wealth management and scale back on trading.Hedge funds are having a terrible year. The hedge fund industry suffered itsbiggest quarterly loss in assets$95 billion (68 billion)since the financial crisis, putting the industry on track for its worst year since 2008. Assets shrank 3.9% to $2.87 trillion (1.9 trillion).French nuclear group Areva is cutting jobs. The company plans to cut 2,700 workers in France by 2017 as it restructures, the French nuclear group said afteran agreement with unions on the company's voluntary redundancy plan.UK government borrowing figures are coming.At 9:30 a.m. UK time (4:30 ET) the data on the UK's net borrowing in September is published. In August, the government borrowed 11.3 billion ($17 billion), and the consensus figure this time around is 9.1 billion ($14 billion).Asia hit Morgan Stanley earnings.The bank's Asian investment portfolio suffered a $235 million (152 million) loss during the July to September period, compared with a profit of $232 million (150 million) in the previous quarter, Morgan Stanley CFO Jonathan Pruzan told analysts.Portugal is moving to the left. The main opposition Socialists have the conditions to form a stable government with parliament majority, backed by two left-wing parties, Socialist leader Antonio Costa said on Tuesday after meeting President Anibal Cavaco Silva.He added thecenter-right ruling coalition could not provide such a solution.The U.S. and Russia are trying to prevent an accidental world war.The two countriessigned a memorandum for "rules and restrictions aimed at preventing incidents between American and Russian plans,"in missions over Syria, Russian news agencies quoted a deputy defence minister, Anatoly Antonov, as saying.IBM shares are sinking.The company's shareshit a five-year low on Tuesday, falling as much as 5.8%, a day after the company's weakresults.At least nine brokerages lowered their price target on IBM's stock after the company posted a bigger-than-expected drop in third-quarter revenue and cut its full-year profit forecast.Credit Agricole has to pay a huge fine for US sanctions breaches. The French bank will pay a $787 million (510 billion) fine and install an independent monitor to resolve charges it violated US sanctions on Iran, Sudan and Cuba.A Russian billionaire settled the "divorce of the century."Dmitry Rybolovlev and his ex-wife Elena announced they had reached a deal to settle their divorce, which had been dubbed the costliest break-up of all time. In May 2014, a Swiss court awarded Elena Rybolovlev more than CHF4billion ($4.2 billion)the equivalent of half his fortune.Join the conversation about this storyNOW WATCH: 50 Cent testifies his lifestyle is an illusion
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