Before the Bell: Hedge funds cut long exposure in September: Credit Suisse

	Click to View in Browser 10/2/2014 Hedge funds cut long exposure in September: Credit Suisse NEW YORK (Reuters) - Managers of equity long/short funds cut their net exposure in September, a month during which markets pulled back on a rising dollar and questions over the timing of the Federal Reserve's next rate hike, Credit Suisse wrote in a note. As PIMCO bleeds assets, Gross shows risk of star culture LONDON (Reuters) - Bill Gross' exit from Pimco has seen billions of dollars leave the fund group and even more value wiped off the share price of its parent company, offering a warning both to firms who rely on star managers and the investors who chase them. ECB to flesh out asset-purchase plan it hopes will buoy euro zone NAPLES Italy (Reuters) - The European Central Bank will present details on Thursday of a new asset-buying plan with which it hopes to revive the flagging euro zone economy and see off the specter of deflation. Bank of America names CEO Moynihan chairman of board (Reuters) - Bank of America Corp said it named Chief Executive Brian Moynihan as chairman of its board, effective immediately. Daimler cuts car market forecast as Europe wobbles PARIS (Reuters) - German luxury automaker Daimler has cut its growth forecast for the global car market, blaming cooler demand in emerging markets and a plunge in Russian sales which has put a fledgling European industry recovery in jeopardy. Philips Electronics to appeal ruling in $467 million patent lawsuit (Reuters) - Dutch healthcare equipment company Philips said on Thursday it would appeal against a U.S court ruling ordering it to pay $466.8 million in compensation to Masimo Corp for infringing two patents. Angry Birds maker Rovio to cut up to 130 jobs HELSINKI (Reuters) - Finnish mobile games maker Rovio, owner of the Angry Birds brand, plans to cut up to 130 jobs in Finland, or 16 percent of its workforce, saying growth has not been as strong as expected and it needs a simpler structure. Fiat needs more than the 500 to turn core brand around PARIS (Reuters) - While rivals roll out new models and concept cars, Fiat has little to show at the Paris auto show besides another variant of its retro-styled 500 compact car, in what is starting to look like a worrying trend for the carmaker's namesake brand. Tesla factory near Reno is bet old Nevada will meet the new RENO Nevada (Reuters) - Lance Gilman bounced his white GMC truck up a hill in the high desert country east of Reno, Nevada, and paused at the top to survey his property. Spread out below lay the 165-square-mile Tahoe-Reno Industrial Center, about the size of Rhode Island. Tesco's 250-million-pound black hole: Who was minding the shop? LONDON (Reuters) - "Things are always unnoticed, until they're noticed," Tesco Chairman Richard Broadbent said when asked how Britain's biggest retailer had failed to spot a 250 million pound ($410 million) sized hole in its first-half profits. Related Video Hong Kong protesters on FireChat reveal decentralized future Breakingviews: What next for Hong Kong? Global Investing Stern Advice: Should you tap your 401(k)to buy a house? Why it pays to pore over your Medicare drug plan - every year A daily digest of breaking business news, coverage of the US economy, major corporate news and the financial markets. Register Today   The latest Reuters articles on M&A, IPOs, private equity, hedge funds and regulatory updates delivered to your inbox each day. Register Today   » MORE NEWSLETTERS - 3 Times Square New York, NY 10036 USA © Copyright 2010 Thomson Reuters Ensure delivery of Reuters Newsmails, add mail@nl.reuters.com to your address book. Details Subscribe to other Reuters newsletters. Unsubscribe from this newsletter. Follow us on Twitter Friend us on Facebook Forward to a friend