Mozambique Tuna Bonds Fund Anti-Pirate Fleet to Banks' Surprise (Bloomberg)
Two months ago, Credit Suisse Group AG and VTB Capital Plc financed a flotilla of tuna boats for Mozambique, then packaged the debt into notes for overseas investors. It turns out the fleet also includes anti-pirate patrol boats, according to the French Foreign Trade Ministry. They are capable of being equipped with 20mm cannons and military drones, according to Stratfor, a global security advisory firm. Credit Suisse is adamant that its funding wasn’t used for armed boats.
Dan Loeb Wants To Meet With George Clooney (NYP)
Dan Loeb said Tuesday he would like to sit down with the Hollywood leading man and mend fences after Clooney called Loeb a “carpetbagger” for attacking Sony Corp. “I’d love to meet him some time and talk these things out,” Loeb said at a Dealbook conference. “We probably agree more than we disagree about the company. He obviously got worked up about our role. “I think he misinterpreted the goal and what we were trying to accomplish.” In August, Clooney went on a tirade against the activist investor, who had sent Sony a poison-pen letter pressuring it to spin off its film and entertainment assets. “A guy from a hedge fund entity is the single least qualified person to be making these kinds of judgments, and he is dangerous to our industry,” Clooney said.
For Yellen, Fed's Dual Mandate Guides Thinking (WSJ)
When senators question Janet Yellen on Thursday during her confirmation hearing to be the next leader of the Federal Reserve, she will likely turn their attention to the central bank's "dual mandate" of maximum employment and stable prices. Ms. Yellen has made this mandate the centerpiece of her argument for the Fed's unconventional easy-money programs aimed at spurring a stronger economic recovery and lowering unemployment, a point her recent comments suggest she will seek to reinforce.
ECB's Praet: All Options on Table (WSJ)
The European Central Bank could adopt negative interest rates or purchase assets from banks if needed to lift inflation closer to its target, a top ECB official said, rebutting concerns that the central bank is running out of tools or is unwilling to use them. "If our mandate is at risk we are going to take all the measures that we think we should take to fulfill that mandate. That's a very clear signal," ECB executive board member Peter Praet said in an interview Tuesday with The Wall Street Journal.
Zoo changes crocodile's name in political row (TL)
A zoo in Saxony is re-naming Fidel the crocodile, who is of Cuban descent, after cultural groups voiced concerns about associations with Communist revolutionary Fidel Castro. Fidel is one of seven Cuban crocodiles - an endangered species - to have hatched in Hoyerswerda zoo last August. Zookeepers opted to give the hatchlings names associated with their traditional homeland. “We were simply looking for names which you immediately associate with their homeland of Cuba,” said director of the zoo in formerly Communist East Germany Carmen Lötsch. “Nobody intended it to be a direct reference to dictator Fidel Castro or indeed a glorification of him as a person,” she said. Fidel the crocodile was destined for a life in the limelight, however, as he soon gained notoriety for his aggressive behavior towards his siblings, whom he would regularly attack and bite. These misdemeanors earned him the nickname “Castro” in some circles. “But that really refers most of all to the critical aspects of Fidel Castro as a person, so one can really not be accused of in any way trivializing these actions,” said Lötsch. However a committee tasked with allocating cultural funding in the region, did not share that view, claiming the crocodile’s name was not consistent with its guidelines...Though Fidel may have become associated with being radical, his name change was anything but. He is now called “Fidelio.” ...in a further twist to the tale, the name “Fidelio” may not stick for long either. Zookeepers do not actually have proof that the crocodile is male, since this requires a blood test to which the hatchlings have not yet been subjected. However, keepers have prepared for this eventuality and chosen the name “Fidelia,” should the crocodile turn out to be female.
Twitter Seen Below $28 by Bearish Structured Note Investors (Bloomberg)
Investors are speculating the lack of profitability at San Francisco-based Twitter, which lost $64.6 million in the third quarter, will weigh on the shares of the microblogging service. The company is unlikely to make a profit until at least 2015, according to the average of analysts’ estimates compiled by Bloomberg.
Attack on Junk-Loans Risks LBO Profits as U.S. Cracks Down (Bloomberg)
Fees for bankers and payouts for leveraged-buyout funds are at risk of being crimped as federal regulators crack down on underwriting standards in the market for high-risk, high-yield loans. The government, in an annual review of bank credit, looked at a $429 billion sample of leveraged loans and found 42 percent were “criticized,” or classified as having a deficiency that might lead to a loss. Starting in September, it sent letters demanding banks draw up plans to improve the quality of their loans and a warning that regulators will pay close attention to high-risk loan performance in stress tests.
Men’s Wearhouse to consider Jos. A. Bank buyout offer (NYP)
Hedge-fund manager Ricky Sandler of Eminence Capital disclosed in a letter that he spoke on the phone with Men’s Wearhouse CEO Doug Ewert on Monday, and that Ewert told him the retailer will consider a $2.3 billion buyout offer from Jos. A. Bank it had spurned in September.
Facebook CFO Sells $43 Million In Shares (Digits)
Facebook Chief Financial Officer David Ebersman sold nearly one million shares of stock Tuesday, more than all the stock he had sold cumulatively since Facebook’s 2012 initial public offering. Ebersman’s sale of 911,700 shares brought him roughly $43 million, according to a Securities and Exchange Commission filing.
Handyman charged with stealing sex photos of Nicolas Cage and ex-girlfriend Christina Fulton (DM)
Photos of Nicolas Cage and his ex-girlfriend Christina Fulton engaged in sexual activity were allegedly stolen from her home earlier this year and have yet to be recovered. The intimate pictures were allegedly taken in April by a handyman who broke into Christina's house. The 39-year-old handyman, Ricardo Orozco, has been accused of stealing four computers and a box of private photos.