Elliott Says It Has No Interest in Argentine Creditor Talks (BusinessWeek)
Elliott Management Corp., the hedge fund run by billionaire Paul Singer that owns defaulted Argentine debt, said it’s only willing to negotiate a settlement with the government and has no interest in holding talks with fellow bondholders. “We welcome the idea of good-faith negotiations with Argentina, but we don’t see the point of negotiating with other bondholders,” Elliott, which is seeking full repayment in U.S. courts, said in a statement. “We have approached Argentina countless times about negotiating a resolution to this dispute. It is completely within Argentina’s power to solve this.”
George Soros pledges $1m for Syria humanitarian work (TheGuardian)
The billionaire financier George Soros is pledging $1m for humanitarian efforts in war-ravaged Syria. Soros announced the pledge to the International Rescue Committee on Wednesday night after receiving its Freedom award in recognition of his lifelong support for human rights and an open society. Soros said people were starving and would soon be freezing in Syria as winter arrived, and malnutrition among children was increasing. “This situation has arisen because both the government and the rebels use the denial of humanitarian aid as a tool of war,” Soros said.
Why Carl Icahn Is Dead Wrong About Apple (DailyFinance)
Just weeks after being dealt defeat in the Dell Inc. (NASDAQ:DELL) proxy fight he started, activist Carl Icahn is making a comeback, and in a big way. On Aug. 13, Carl Icahn tweeted out that he now holds a large position in Apple Inc. (NASDAQ:AAPL), saying that he believes the stock to be extremely undervalued. In late October, Icahn shed some light on just how large his large position in Apple currently is, about 4.73 million shares, worth somewhere around $2.5 billion. Icahn, who now owns 0.5% of Apple, has been much noisier than the average shareholder, and already has met with Apple CEO Tim Cook to discuss a $150 billion share-buyback program, which Icahn is advocating as the proper way Apple should utilize its $147 billion in cash.
Marc Faber: China could spark a bigger crisis than in 2008 (MarketWatch)
An alarming credit boom in China could trigger a global financial crisis that would make the one in 2008 look mild by comparison, says old gloomy eyes, Marc Faber. …China, in particular, has seen credit as a percentage of the economy jump 50% in the last four and a half years, said Faber, the “fastest credit growth you can image in the whole of Asia.” He’s not alone in this China worry, as lots of economists have been warning about rapid credit growth there, even as officials are trying to curb it.
Prem Watsa, Fairfax Officially Disclose Plans to Invest $1B More in BlackBerry (InsiderMonkey)
As it leaked a couple of days ago, Prem Watsa’s fund Fairfax Financial Holdings, in a filing with the Securities and Exchange Commission, disclosed entering into an agreement with BlackBerry Ltd (NASDAQ:BBRY). Under the terms of the agreement, Fairfax and some other institutional investors will invest in the company via a $1 billion private placement of 6% unsecured debentures. The debentures can also be converted into Blackberry shares at a price of $10 apiece.
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