Sri Lanka see backlash from Aussie ‘wounded soldiers’

(Reuters) – Sri Lanka captain Mahela Jayawardene has warned his team to be wary of a backlash from Australia in their three-test series after the hosts were stung by their series defeat to South Africa earlier this week.

Australia’s hopes of snatching the Proteas’ top test ranking ended in a crushing 309-run defeat in the third and final test in Perth on Monday, but Jayawardene took little comfort from the home side’s disappointment.

“I see them as wounded soldiers – they could come back stronger against us,” Jayawardene told reporters in Canberra on Wednesday, on the eve of a three-day tour match against a Chairman’s XI side.

“So we just need to make sure we are ready for that and start well.

“We can’t be complacent – we need to make sure we know from ball one we give them a good go at it.”

Sri Lanka have their own problems coming into the first test at Hobart next week, losing their last test at home to New Zealand by 167 runs to level a two-match series 1-1, with key batsmen out of form.

Kumar Sangakkara scored five, nought and 16 in his three innings against New Zealand, but Jayawardene backed the veteran to bounce back in Sri Lanka’s bid to win their first test Down Under.

“I am happy that he went through a lean phase because he’ll be really hungry for runs – that’s Kumar for you,” Jayawardene said of the 35-year-old stalwart.

Jayawardene also said he would weigh up his future as captain after the series, which includes tests in Melbourne and Sydney, after taking on the role for a second time in the wake of Tillakaratne Dilshan’s sudden resignation in January.

“After this, we get a well-deserved four weeks off, after about three years, so it gives me a bit of time to think (about) what I need to do,” said Jayawardene, who captained the team for more than three years in his first stint from 2006.

“We need to groom another leader as well. It’s very important to have that changeover done smoothly while the senior players are still in the side.”

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India’s Strides Arcolab, Eli Lilly in generic cancer drug tie-up

MUMBAI (Reuters) – India’s Strides Arcolab and Eli Lilly will jointly manufacture and distribute generic cancer drugs for developing markets, the drugmakers said on Wednesday, as the U.S. company looks to expand its presence in emerging markets.

The tie-up is the latest in a line of agreements between ‘Big Pharma’ companies eyeing greater access to high-growth emerging markets, and Indian companies looking for global expertise.

Under the agreement, Strides subsidiary Agila Specialties will manufacture the generic oral and injectable cancer drugs that Lilly will register and market.

The companies will begin with 10 medicines, with an option for Lilly to increase the number in the future.

Annual drug spending in emerging markets is expected to grow 12 to 15 percent from 2012 to 2016, according to healthcare information provider IMS Health, and is on track to make up 28 percent of global sales by 2015, up from 12 percent in 2005.

“Cancer medicines of the highest quality continue to be an unmet need in many markets around the world,” Jacques Tapiero, Lilly, senior vice-president, said in a statement.

(Reporting by Henry Foy; Editing by Prateek Chatterjee)

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“Family Guy” executive producer lands animated cop series with Fox

LOS ANGELES (TheWrap.com) – Despite – or perhaps because of – a robust cartoon slate that includes “The Simpsons,” “American Dad” and “Family Guy,” Fox apparently feels that it’s just not animated enough.

The network has given a 13-episode order to a new animated series, “Murder Police,” from “Family Guy” executive producer David Goodman and Jason Ruiz, Fox said Tuesday.

The series, which will be produced by Bento Box Animation (“Bob’s Burgers,” “Brickleberry”) via 20th Century Fox Television, centers around a dedicated, but inept detective and his colleagues – some perverted, some corrupt, some just plain lazy – in a twisted city precinct. Goodman and Ruiz created and wrote the series, with Goodman as executive producer and Ruiz as co-executive producer.

In addition to “Family Guy,” Goodman executive-produced Fox’s short-lived animated series “Allen Gregory,” which failed to receive a pickup after airing a handful of episodes last year.

Ruiz is one of the writers discovered through the network’s Fox Inkubation program. He will also voice the program, along with “MADtv” alum Will Sasso, Chi McBride, Horatio Sanz of “Saturday Night Live,” and other voice actors.

“David and Jason came to us with a really fresh take on law enforcement that we’ve never seen before,” said Kevin Reilly, Chairman of Entertainment, Fox Broadcasting Company. “With ‘Murder Police,’ these guys are taking a staple genre of television – the cop show – and turning it on its head by pushing the warped comedic boundaries that only animation can offer. It’s the kind of show our Animation Domination fans will absolutely love, and I can’t wait to introduce it next season.”

“Murder Police” will premiere during the 2013-2014 season.

TV News Headlines – Yahoo! News

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Stock futures signal gains at open

PARIS (Reuters) – Stocks were indicated to open higher on Wednesday, with futures for the S&P 500 up 0.35 percent, Dow Jones up 0.43 percent and Nasdaq 100 up 0.41 percent at 4:55 a.m. EDT.

* European shares resumed a recent sharp rally on Wednesday after comments from China’s new leader boosted global growth expectations.

* Chinese Communist Party chief Xi Jinping said the country will maintain its fine-tuning of economic policies in 2013 to ensure stable economic growth, sparking a sharp rally in Chinese shares with the Shanghai Composite Index <.ssec> surging 2.9 percent.</.ssec>

* Xi listed tax reform, urbanization and allowing the market to play a bigger role in setting resource prices as among his key priorities.

* On the domestic front, investors awaited ADP’s November employment report, due at 8:15 a.m. EDT. Economists in a Reuters survey expect 125,000 jobs were created versus 158,000 in October. Other data on Wednesday include factory orders and ISM’s November non-manufacturing index, both due at 11 a.m. EDT.

* Repsol filed a U.S. lawsuit to block Chevron Corp’s deal with Argentina’s YPF , ramping up the Spanish oil company’s legal response to the loss of its assets in Argentina.

* Programmable chipmaker Altera Corp trimmed its fourth-quarter revenue expectation citing fewer orders for its older products, sending its shares down 2 percent after the bell.

* Aerovironment Inc posted a better-than-expected quarterly profit as its unmanned aircraft unit sold more fixed-price products, sending its shares up 9 percent after the bell.

* Pandora Media Inc

lowered its fourth-quarter guidance, blaming a pull-back by advertisers on concerns about the U.S. budget, but analysts suggested it was due more to increasing competition.

* The U.S. Senate on Tuesday voted 98-0 to approve a wide-ranging defense bill that authorizes $ 631.4 billion in funding for the U.S. military, the war in Afghanistan and nuclear weapons.

* Walt Disney gave a much needed boost to Netflix , becoming the first major Hollywood studio to use the video service to bypass premium channels like HBO that traditionally controlled the delivery of movies to TV subscribers.

* The U.S. securities regulator is investigating a $ 10 million stock sale in March by Steven Fishman, chief executive of close-out retailer Big Lots Inc who announced his retirement on Tuesday, the Wall Street Journal reported, citing a person familiar with the inquiry.

* U.S. stocks finished slightly lower in a quiet session on Tuesday as the back-and-forth wrangling over the “fiscal cliff” gave investors little reason to act.

* The Dow Jones industrial average <.dji> fell 13.82 points, or 0.11 percent, to 12,951.78 at the close. The Standard & Poor’s 500 Index <.spx> dipped 2.41 points, or 0.17 percent, to 1,407.05. The Nasdaq Composite Index <.ixic> shed 5.51 points, or 0.18 percent, to close at 2,996.69.</.ixic></.spx></.dji>

(Reporting by Blaise Robinson; Editing by John Stonestreet)

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Officials: NATO to decide on missiles for Turkey

BRUSSELS (AP) — NATO foreign ministers are expected to approve Turkey‘s request for Patriot anti-missile systems to bolster its defense against possible strikes from neighboring Syria.

NATO foreign ministers are meeting on Tuesday and Wednesday in Brussels. Parliaments in both nations must approve the deployment, which would also involve several hundred soldiers.

Ankara, which has been highly supportive of the Syrian opposition, wants the Patriots to defend against possible retaliatory attacks by Syrian missiles carrying chemical warheads. NATO leaders have repeatedly said they would provide any assistance Turkey needs.

Europe News Headlines – Yahoo! News

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Yahoo sees several flaws in $2.7 billion Mexico ruling: source

SAN FRANCISCO (Reuters) – Yahoo Inc believes it has “numerous” grounds to appeal a Mexico City civil court‘s $ 2.7 billion preliminary judgment against the company, including both errors in procedure and in application of law, a person familiar with the matter told Reuters on Monday.

The ruling in the case, which involves allegations of breach of contract related to an online yellow pages listings service, was made by the 49th Civil Court of the Federal District of Mexico City, Yahoo said on Friday.

The case has perplexed many investors and tech-industry observers since Yahoo disclosed it, particularly given the large value of the “non-final” judgment.

The lawsuit was brought by Worldwide Directories S.A. de C.V. and Ideas Interactivas S.A. de C.V. against Yahoo and Yahoo de Mexico, Yahoo said.

The companies could not be reached for comment, although Carlos Bazan-Canabal, who describes himself as a founder of Worldwide Directories, told Reuters via email that he had contracted a U.S.-based law firm to handle the Yahoo case.

He declined to comment further on the matter.

Bazan-Canabal operates a number of web sites. He said on one that he joined Yahoo in 1999, adding that he is a former executive of Yahoo Mexico, and that he helped to launch that company. Yahoo could not immediately be reached for comment on this.

The details of the suit remained unclear on Monday. Documents from local courts in Mexico are not available for public consultation. Yahoo declined to comment.

Yahoo signed a commercial relationship with the two companies in 2002, the person familiar with the matter said. Yahoo terminated the relationship with the companies in 2009, the person said.

Yahoo’s appeal is expected to be heard by a panel of three judges in a superior court in Mexico City, the person said who was not authorized to speak publicly on the matter. It was not clear when Yahoo might file its appeal.

Yahoo’s most recent 10Q filing, which lists major ongoing legal proceedings, makes no mention of the lawsuit.

“We believe the $ 2.7 billion figure appears high based on the seemingly small size of Yahoo’s business in Mexico, but we believe shares could trade off modestly on the news,” wrote JP Morgan analyst Doug Anmuth in a note to investors following Friday’s announcement.

“It’s not clear how the Mexican court arrived at the $ 2.7 billion figure, but it would represent 40 percent of our projected 2012 year-end cash balance for Yahoo,” and equate to about $ 2.30 per share, he wrote.

Shares of Yahoo closed Monday’s regular session down 1.2 percent, or 22 cents, at $ 18.55.

(Additional reporting by Dave Graham in Mexico City and Sarah McBride in San Francisco; Editing by Bernard Orr)

Tech News Headlines – Yahoo! News

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U.S. hospital chain HMA’s shares fall after TV report

(Reuters) – Shares of Health Management Associates Inc fell about 5 percent on Monday after the television news program 60 Minutes aired a story describing aggressive patient admissions policies allegedly pursued at the company’s U.S. hospitals.

The story included interviews with several former employees of the hospital chain who said they were pressured to meet quotas for admitting patients.

HMA Senior Vice President Alan Levine told 60 Minutes the allegations were “absolutely wrong”.

In a statement released after the 60 Minutes broadcast, the Naples, Florida-based hospital company said the report found no issues with the quality of care at its hospitals and relied entirely on “disgruntled” former employees and contracted physicians.

“Neither 60 Minutes nor the physicians interviewed identified any admission decision in which a physician’s medical judgment was overridden by an HMA executive, much less to defraud Medicare,” HMA said.

HMA, which operates 70 hospitals in 15 states, said admissions rates from its emergency rooms were in line with industry standards and consistent over several years.

The company held a conference call for investors on Friday ahead of the 60 Minutes report in which Levine said that HMA’s review showed there was no basis for an allegation of increased admissions through the company’s emergency departments.

CRT Capital Group analyst Sheryl Skolnick cut her rating on HMA shares to “sell” from “fair value”, citing the Medicare fraud allegations in the 60 Minutes report.

“We believe there is significantly greater risk of a deeper/wider (government) investigation and a substantially higher risk that HMA may have to pay bigger fines to settle it,” Skolnick wrote in a note to clients.

Among those interviewed for the television show was a former director of compliance for HMA, Paul Meyer, who sued the company for wrongful termination. Meyer accused the company of committing Medicare fraud by billing the government for hospital stays that did not meet government standards for admission or reimbursement.

HMA said it hired an outside law firm to investigate Meyer’s allegations, but it found no evidence to support an allegation of fraud.

HMA shares were down 38 cents, or 4.8 percent, at $ 7.57 in afternoon trade on the New York Stock Exchange.

(Reporting By Susan Kelly; Additional reporting by Bill Berkrot in New York; Editing by Andrew Hay and Marguerita Choy)

Seniors/Aging News Headlines – Yahoo! News

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Kutcher’s Steve Jobs, Gordon-Levitt among Sundance premieres

NEW YORK (Reuters) – Ashton Kutcher‘s turn as Apple co-founder Steve Jobs and actor Joseph Gordon-Levitt‘s directorial debut about a modern day Don Juan are leading a slew of star-studded premieres unveiled Monday for the 2013 Sundance Film Festival.

Kutcher stars in “Jobs,” a biographical look at the career rise of Jobs from wayward hippie to charismatic inventor and entrepreneur, which Sundance said Monday will officially close the indie film festival backed by Robert Redford that runs January 17 to January 27.

The premiere lineup also features Gordon-Levitt directing, writing and starring in “Don Jon’s Addiction,” about a self-centered porn-addict attempting to reform his ways opposite Scarlett Johansson, Julianne Moore and Tony Danza.

Behind-the-scenes tales of pornography will also be explored in British director Michael Winterbottom‘s “The Look of Love,” starring Steve Coogan and based on British adult magazine publisher and entrepreneur Paul Raymond.

“Lovelace,” starring Amanda Seyfried and James Franco, tells the story of porn star Linda Lovelace famed for the film “Deep Throat.”

Sundance, the top U.S. film festival for independent cinema held in Park City, Utah, unveiled the premieres section – which typically feature more established directors – after it announced its competition films last week.

Adding to the premieres list is “Before Midnight,” director Richard Linklater’s third film collaborating with Ethan Hawke and Julie Delpy after “Before Sunrise” and “Before Sunset,” in which the audience encounters their characters nine years later in Greece.

New Zealand director Jane Campion will screen her new six-hour epic, “Top Of The Lake,” a haunting mystery about a pregnant 12-year-old girl who disappears, with Holly Hunter.

Other big-name actors in the lineup include Steve Carell and Toni Collette in “The Way, Way Back,” Naomi Watts and Robin Wright in “Two Mothers”, Dakota Fanning and Elizabeth Olsen in “Very Good Girls,” and Shia LaBeouf and Evan Rachel Wood in “The Necessary Death of Charlie Countryman.”

Australian actresses Nicole Kidman, Mia Wasikowska and Jacki Weaver star in psychological thriller “Stoker,” which marks South Korean director Park Chan-wook’s English-language debut.

WIKILEAKS, POLITICS LEAD DOCUMENTARIES

Among documentaries premiering at Sundance in January is Oscar-winning documentary filmmaker Alex Gibney’s insight on WikiLeaks, the power of the Internet and the beginning of an information war in “We Steal Secrets: The Story of Wikileaks.”

Author and documentarian Sebastian Junger chronicles the life of late photojournalist Tim Hetherington in “Which Way Is The Front Line From Here?” after Hetherington’s death in Libya in 2011. The photojournalist had collaborated with Junger on the 2010 Oscar-nominated film “Restrepo” about the Afghanistan war.

“The World According to Dick Cheney” promises to examine the former vice president while “Anita” profiles how Anita Hill’s allegations in 1991 of sexual harassment against then-U.S. Supreme Court nominee Clarence Thomas brought sexual politics into the national consciousness for the next two decades.

“Linsanity” offers a portrait of basketballer Jeremy Lin and “Running From Crazy” follows actress Mariel Hemingway, granddaughter of Ernest Hemingway, and her insights into her family’s mental illness and suicide.

“Pandora’s Promise” looks at a growing number of environmentalists and anti-nuclear activists changing their minds after decades of opposition to support nuclear power.

Continuing the rise of music documentaries in the last several years, Foo Fighters’ musician Dave Grohl looks at the history of Sound City studios in California, where Grohl’s former band Nirvana had recorded their classic 1991 album “Nevermind.”

Veteran Los Angeles rock band The Eagles will also showcase their past in “The History of the Eagles Part 1.”

(Reporting By Christine Kearney, editing by Piya Sinha-Roy and Cynthia Osterman)

Movies News Headlines – Yahoo! News

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Investors’ Risky Bet on the Ghost of Freddie Past

The post-bailout world abounds with financial incongruities. Witness: Federal Home Loan Mortgage Corporation, or “Freddie Mac,” the government-sponsored agency that by its own admission “makes home possible for one in four home buyers and is one of the largest sources of financing for multifamily housing.” Since the beginning of 2009, it has provided nearly $ 1.6 trillion of funding to the U.S. mortgage market. Albeit under one giant black cloud: Alongside its cousin Fannie Mae, Freddie Mae has been under government “conservatorship (pdf)” since September 2008, after a decade of gorging on risky mortgages that effectively rendered the two insolvent. Washington euphemism aside, taxpayers bailed them out.

Yet Freddie Mac (FMCC) shares—which were thought to be irrelevant since the government formally took over—still trade on the over-the-counter pink sheets, province of penny-stock shops. FMCC is up 40 percent this year. Fannie Mae’s (FNMA) pink-hued stock is up 35 percent.

Exactly what outcome are investors romancing?

For simplicity’s sake, focus on Freddie Mac. At the end of 2006, before housing went to Hades, Freddie sported a market capitalization of $ 45 billion. Today, it’s at $ 955 million. In mid 2010, its old listing (FRE) was moved from the New York Stock Exchange to the OTC bulletin-board, where it was ostensibly left to fall to zero. It proceeded to diminish from $ 1.24 to as low as 19¢ a year ago. Today, it’s back up to 30¢.

“I’m surprised it’s up so much this year,” says analyst Edwin Groshans of Height Analytics. “For the foreseeable future, maybe even up to a decade, Freddie is in limbo, as its profits and dividends have to pass through to the Treasury Department.” (As opposed to making their way to common shareholders). Indeed, through Sept. 30, Freddie Mac has forked over just under $ 22 billion in cash dividends to Treasury, on the company’s senior preferred stock.

With U.S. mortgage finance never so dependent on the government-sponsored agencies, Freddie and Fannie are still touch-and-go stories. Recidivism rates after 12 months for modified subprime mortgages have declined to about 40 percent from almost 80 percent in four years, according to Nomura Securities. As the backstops of last resort, Fannie Mae and Freddie Mac have largely had no choice but to keep stockpiling these still-shaky modified mortgages, which sent their nonperforming loans to a record last quarter; as of Sept. 30, they owned $ 195 billion of restructured loans.

Yet things are looking up. In its latest quarterly report (pdf), Freddie Mac revealed that it was decently profitable—even after paying its dividend to Uncle Sam—and did not need to draw on Treasury funds. This year, Fannie Mae and Freddie Mac have almost doubled what they charge to guarantee bonds. Of course, it helps greatly that the Federal Reserve, sailing the good ship QE3, is now buying at least $ 40 billion a month of Freddie’s agency debt.

According to Bloomberg data, issuance of U.S. government-backed mortgage securities soared 45 percent last month, to the highest since at least 2009. Lenders raced to move up this issuance (which Freddie and Fannie guarantee) before the pair hiked their fees on Dec. 1.

This comes as U.S. home prices rose 4.4 percent for the 12 months ending September.

Maybe the penny stock crowd is hoping residential real estate goes back up so wildly that enough upside will accrue to Freddie Mac’s otherwise-forgotten share price.

But that’s quite a treacherous wager. As blogger and former broker Jon Ogg noted when Freddie was evicted from the Big Board in 2010: “Once these go to the [pink sheets] … the implied upside for any price above zero comes with the notion that the economy could return or even that inflation comes back in a hurry. Ten percent inflation per year would be one short-term cure for housing. It would be like treating a case of the flu with syphilis.”

Businessweek.com — Top News

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Gunmen assassinate peasant leader in Paraguay

ASUNCION, Paraguay (AP) — Gunmen murdered one of the surviving leaders of a peasant movement whose land dispute with a powerful politician prompted the end of Fernando Lugo‘s presidency last June.

Vidal Vega, 48, was hit four times early Saturday by bullets from a 12-gauge shotgun and a .38-caliber revolver fired by two unidentified men who sped away on a motorcycle, according to an official report prepared at the police headquarters in the provincial capital of Curuguaty.

A friend, Mario Espinola, told The Associated Press that Vega was shot down when he stepped outside to feed his farm animals.

Vega was among the public faces of a commission of landless peasants from the settlement of Yby Pyta, which means Red Dirt in their native Guarani language.

He had lobbied the government for many years to redistribute some of the ranchland that Colorado Party Sen. Blas Riquelme began occupying in the 1960s.

By last May, the peasants finally lost patience and moved onto the land. A firefight during their eviction on June 15 killed 11 peasants and six police officers, prompting the Colorado Party and other leading parties to vote Lugo out of office for allegedly mismanaging the dispute.

Twelve suspects, nearly all of them peasants from Yby Pyta, have been jailed without formal charges since then on suspicion of murdering the officers, seizing property and resisting authority. The prosecutor had six months to develop the case and will present his findings Dec. 16.

Vega was expected to be a witness at the criminal trial, since he was among the few leaders who weren’t killed in the clash or jailed afterward.

He wasn’t charged because he was away getting supplies when the violence erupted at the settlement erected by the peasants inside Riquelme’s ranch, the Naranjaty Commission’s secretary, Martina Paredes, told the AP.

“We think he was assassinated by hit men who were sent, we don’t know by whom, perhaps to frighten us and frustrate our fight to recover the state lands that were illegally taken by Riquelme,” she said.

Riquelme, who died of natural causes about a month after the battle in June, occupied the land during the dictatorship of Alfredo Stroessner, whose government gave away land for free to anyone willing to put it to productive use.

A local court in Curuguaty upheld Riquelme’s claim to the land years later. Lugo’s government later sought to overturn the decision, but the case remains tied up in court.

Latin America News Headlines – Yahoo! News

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