Facebook and volatile market still chill IPOs

Making a killing on initial public offerings used to be easy.

At the peak of the technology boom, little more than a decade ago, a plentiful supply of companies vied to sell stock on the exchanges, and investors were assured mouthwatering returns.

These days, the deals are fewer and the returns more modest.

Companies are set to raise more than $ 45 billion through IPOs this year — the most since 2007, according to data provider Dealogic. But if you scratch the surface, there are signs that the market is less healthy than it appears.

Almost a third of the money raised in IPOs this year came from one deal, Facebook‘s $ 16 billion offering in May, and the number of companies taking themselves public may end at a three-year low.

The pipeline, or backlog, of companies planning to sell stock is also thinning.

“It’s a reflection of the psychology of the market today. It’s not strong. It’s moderate to weak,” says Rob Lutts, chief investment officer at Cabot Money Management in Salem, Mass.

While 437 companies have filed for an IPO this year, 178 have withdrawn or postponed their planned listings, Dealogic data show.

The state of the IPO market matters beyond Wall Street. Besides giving investors the chance to buy into fast-growing parts of the market, offerings give companies the money to expand and hire workers.

Scott Cutler, head of global listings at NYSE Euronext, which runs the New York Stock Exchange, estimates that more than 90 percent of a public company’s employee growth comes after it has listed on an exchange.

IPO activity is dictated largely by the health of the overall stock market. Falling markets discouraging companies from going public.

The Standard & Poor’s 500 is up 11 percent this year, but the advance has been punctuated by sharp declines when investors fretted about European debt, the election and, now, a looming “cliff” of tax increases and government spending cuts.

“The general market has been real choppy this year. It really has,” says Sal Morreale, an institutional salesman at Cantor Fitzgerald in Los Angeles who tracks offerings.

Facebook’s calamitous market debut also put the brakes on IPOs.

The social networking site’s offering was the most keenly anticipated market debut at least since Google’s in 2004. But concerns about revenue from smartphone users spooked investors, and the offering was plagued by technical glitches.

The stock was priced at $ 38 and fell almost immediately, dropping as low as $ 17.55 on Sept. 4. The negative publicity helped shutter the IPO market for more than a month until EQT Midstream Partners, an energy company, sold stock June 16. Companies including American Tire Distributors and Crosair, a computer memory company, were among those withdrawing their IPOs.

“That deal has become a textbook case of how not to do a deal,” says Quincy Krosby, a market strategist with Newark, N.J.-based Prudential Financial. “That IPO really chastened investors.”

The backlog of companies planning IPOs fell to 39 in November, according to data from Ipreo, a market analysis company firm. That is the fewest since August 2009, just after the recession. The tally has been declining steadily since September 2011.

NYSE’s Cutler says that much of the decline is because of a law passed in April designed to make it easier for companies to attract funding. They can confidentially notify regulators of their intention to seek a listing.

Cutler says that if the business environment remains stable, the pace of IPO filling will be “slightly up” next year as companies become more familiar with the law.

The law allows companies to avoid disclosing competitively sensitive information and come to the market at much shorter notice. Ultimately, it will encourage more companies to seek listings, Cutler says.

Despite Facebook‘s high-profile slump, most companies have left something on the table for investors.

The average return for IPOs this year has been 11 percent, according to Dealogic data. That’s less than the average 88 percent one-year return that investors garnered in 1999 but roughly in line with the broader market.

Among the best debuts: Guidewire Software, a provider of software for the insurance industry, and Nationstar Mortgage Holdings, a Texas mortgage provider and servicer, according to data from IPO investment advisory firm Renaissance Capital.

Investors that bought Guidewire’s stock at $ 13 at its market debut in January have seen it rise to almost $ 30, while Nationstar’s stock has almost doubled from $ 14 to $ 27.35.

There are some advantages to a slow IPO market, says Lutts of Cabot Money Management. When demand is low, only the best companies are able to attract enough demand to list on the exchanges, raising the quality of companies coming to the market. And it can be an indicator that the broader market is oversold and thus offers some bargains.

“When we’re frothy, everything is coming at a premium,” Lutts says. “I’m interested in equities today because of a weak IPO market.”

Social Media News Headlines – Yahoo! News

Read More..

‘Dallas’ star Larry Hagman dies in Texas

J.R. Ewing was a business cheat, faithless husband and bottomless well of corruption. Yet with his sparkling grin, Larry Hagman masterfully created the charmingly loathsome oil baron — and coaxed forth a Texas-size gusher of ratings — on television’s long-running and hugely successful nighttime soap, “Dallas.”

Although he first gained fame as nice guy Capt. Tony Nelson on the fluffy 1965-70 NBC comedy “I Dream of Jeannie,” Hagman earned his greatest stardom with J.R. The CBS serial drama about the Ewing family and those in their orbit aired from April 1978 to May 1991, and broke viewing records with its “Who shot J.R.?” 1980 cliffhanger that left unclear if Hagman’s character was dead.

The actor, who returned as J.R. in a new edition of “Dallas” this year, had a long history of health problems and died Friday due to complications from his battle with cancer, his family said.

“Larry was back in his beloved hometown of Dallas, re-enacting the iconic role he loved the most. Larry’s family and closest friends had joined him in Dallas for the Thanksgiving holiday,” the family said in a statement that was provided to The Associated Press by Warner Bros., producer of the show.

The 81-year-old actor was surrounded by friends and family before he passed peacefully, “just as he’d wished for,” the statement said.

Linda Gray, his on-screen wife and later ex-wife in the original series and the sequel, was among those with Hagman in his final moments in a Dallas hospital, said her publicist, Jeffrey Lane.

“He brought joy to everyone he knew. He was creative, generous, funny, loving and talented, and I will miss him enormously. He was an original and lived life to the fullest,” the actress said.

Years before “Dallas,” Hagman had gained TV fame on “I Dream of Jeannie,” in which he played an astronaut whose life is disrupted when he finds a comely genie, portrayed by Barbara Eden, and takes her home to live with him.

Eden recalled late Friday shooting the series’ pilot “in the frigid cold” on a Malibu beach.

“From that day, for five more years, Larry was the center of so many fun, wild and sometimes crazy times. And in retrospect, memorable moments that will remain in my heart forever,” Eden said.

Hagman also starred in two short-lived sitcoms, “The Good Life” (NBC, 1971-72) and “Here We Go Again” (ABC, 1973). His film work included well-regarded performances in “The Group,” ”Harry and Tonto” and “Primary Colors.”

But it was Hagman’s masterful portrayal of J.R. that brought him the most fame. And the “Who shot J.R.?” story twist fueled international speculation and millions of dollars in betting-parlor wagers. It also helped give the series a place in ratings history.

When the answer was revealed in a November 1980 episode, an average 41 million U.S. viewers tuned in to make “Dallas” one of the most-watched entertainment shows of all time, trailing only the “MASH” finale in 1983 with 50 million viewers.

It was J.R.’s sister-in-law, Kristin (Mary Crosby) who plugged him — he had made her pregnant, then threatened to frame her as a prostitute unless she left town — but others had equal motivation.

Hagman played Ewing as a bottomless well of corruption with a charming grin: a business cheat and a faithless husband who tried to get his alcoholic wife, Sue Ellen (Gray), institutionalized.

“I know what I want on J.R.’s tombstone,” Hagman said in 1988. “It should say: ‘Here lies upright citizen J.R. Ewing. This is the only deal he ever lost.’”

On Friday night, Victoria Principal, who co-starred in the original series, recalled Hagman as “bigger than life, on-screen and off. He is unforgettable, and irreplaceable, to millions of fans around the world, and in the hearts of each of us, who was lucky enough to know and love him.”

Ten episodes of the new edition of “Dallas” aired this past summer and proved a hit for TNT. Filming was in progress on the sixth episode of season two, which is set to begin airing Jan. 28, the network said.

There was no immediate comment from Warner or TNT on how the series would deal with Hagman’s loss.

In 2006, he did a guest shot on FX’s drama series “Nip/Tuck,” playing a macho business mogul. He also got new exposure in recent years with the DVD releases of “I Dream of Jeannie” and “Dallas.”

The Fort Worth, Texas, native was the son of singer-actress Mary Martin, who starred in such classics as “South Pacific” and “Peter Pan.” Martin was still in her teens when he was born in 1931 during her marriage to attorney Ben Hagman.

As a youngster, Hagman gained a reputation for mischief-making as he was bumped from one private school to another. He made a stab at New York theater in the early 1950s, then served in the Air Force from 1952-56 in England.

While there, he met and married young Swedish designer Maj Axelsson. The couple had two children, Preston and Heidi, and were longtime residents of the Malibu beach colony that is home to many celebrities.

Hagman returned to acting and found work in the theater and in such TV series as “The U.S. Steel Hour,” ”The Defenders” and “Sea Hunt.” His first continuing role was as lawyer Ed Gibson on the daytime serial “The Edge of Night” (1961-63).

He called his 2001 memoir “Hello Darlin’: Tall (and Absolutely True) Tales about My Life.”

“I didn’t put anything in that I thought was going to hurt someone or compromise them in any way,” he told The Associated Press at the time.

Hagman was diagnosed in 1992 with cirrhosis of the liver and acknowledged that he had drank heavily for years. In 1995, a malignant tumor was discovered on his liver and he underwent a transplant.

After his transplant, he became an advocate for organ donation and volunteered at a hospital to help frightened patients.

“I counsel, encourage, meet them when they come in for their operations, and after,” he said in 1996. “I try to offer some solace, like ‘Don’t be afraid, it will be a little uncomfortable for a brief time, but you’ll be OK.’ “

He also was an anti-smoking activist who took part in “Great American Smoke-Out” campaigns.

Funeral plans were not immediately announced.

“I can honestly say that we’ve lost not just a great actor, not just a television icon, but an element of pure Americana,” Eden said in her statement Friday night. “Goodbye, Larry. There was no one like you before and there will never be anyone like you again.”

___

Associated Press writers Erin Gartner in Chicago and Shaya Mohajer in Los Angeles, and AP Television Writer Frazier Moore in New York contributed to this report.

Entertainment News Headlines – Yahoo! News

Read More..

Four new cases of SARS-like virus found in Saudi, Qatar

LONDON (Reuters) – A new virus from the same family as SARS which sparked a global alert in September has now killed two people in Saudi Arabia, and total cases there and in Qatar have reached six, the World Health Organisation said.

The U.N. health agency issued an international alert in late September saying a virus previously unknown in humans had infected a Qatari man who had recently been in Saudi Arabia, where another man with the same virus had died.

On Friday it said in an outbreak update that it had registered four more cases and one of the new patients had died.

“The additional cases have been identified as part of the enhanced surveillance in Saudi Arabia (3 cases, including 1 death) and Qatar (1 case),” the WHO said.

The new virus is known as a coronavirus and shares some of the symptoms of SARS, or Severe Acute Respiratory Syndrome, which emerged in China in 2002 and killed around a 10th of the 8,000 people it infected worldwide.

Among the symptoms in the confirmed cases are fever, coughing and breathing difficulties.

Of the six laboratory-confirmed cases reported to WHO, four cases, including the two deaths, are from Saudi Arabia and two cases are from Qatar.

Britain’s Health Protection Agency, which helped to identify the new virus in September, said the newly reported case from Qatar was initially treated in October in Qatar but then transferred to Germany, and has now been discharged.

Coronaviruses are typically spread like other respiratory infections, such as flu, travelling in airborne droplets when an infected person coughs or sneezes.

The WHO said investigations were being conducted into the likely source of the infection, the method of exposure, and the possibility of human-to-human transmission of the virus.

“Close contacts of the recently confirmed cases are being identified and followed-up,” it said.

It added that so far, only the two most recently confirmed cases in Saudi Arabia were epidemiologically linked – they were from the same family, living in the same household.

“Preliminary investigations indicate that these two cases presented with similar symptoms of illness. One died and the other recovered,” the WHO’s statement said.

Two other members of the same family also suffered similar symptoms of illness, and one died and the other is recovering. But the WHO said laboratory test results on the fatality were still pending, and the person who is recovering had tested negative for the new coronavirus.

The virus has no formal name, but scientists at the British and Dutch laboratories where it was identified refer to it as “London1_novel CoV 2012″.

The WHO urged all its member states to continue surveillance for severe acute respiratory infections.

“Until more information is available, it is prudent to consider that the virus is likely more widely distributed than just the two countries which have identified cases,” it said.

(Editing by Alison Williams)

Health News Headlines – Yahoo! News

Read More..

Larry Hagman dead at 81, portrayed notorious TV villain J.R. Ewing

(Reuters) - Larry Hagman, who created one of American television's most supreme villains in the conniving, amoral oilman J.R. Ewing of "Dallas," died on Friday, the Dallas Morning News reported. He was 81.

Hagman died at a Dallas hospital of complications from his battle with throat cancer, the newspaper said, quoting a statement from his family. He had suffered from liver cancer and cirrhosis of the liver in the 1990s after decades of drinking.

Hagman's mother was stage and movie star Mary Martin and he became a star himself in 1965 on "I Dream of Jeannie," a popular television sitcom in which he played Major Anthony Nelson, an astronaut who discovers a beautiful genie in a bottle.

"Dallas," which made its premiere on the CBS network in 1978, made Hagman a superstar. The show quickly became one of the network's top-rated programs, built an international following and inspired a spin-off, imitators and a revival in 2012.

"Dallas" was the night-time soap-opera story of a Texas family, fabulously wealthy from oil and cattle, and its plot brimmed with back-stabbing, double-dealing, family feuds, violence, adultery and other bad behavior.

In the middle of it all stood Hagman's black-hearted J.R. Ewing - grinning wickedly in a broad cowboy hat and boots, plotting how to cheat his business competitors and cheat on his wife. He was the villain TV viewers loved to despise during the show's 356-episode run from 1978 to 1991.

"I really can't remember half of the people I've slept with, stabbed in the back or driven to suicide," Hagman said of his character in Time magazine.

In his autobiography, "Hello Darlin': Tall (and Absolutely True) Tales About My Life," Hagman wrote that J.R. originally was not to be the focus of "Dallas" but that changed when he began ad-libbing on the set to make his character more outrageous and compelling.

'WHO SHOT J.R.?'

To conclude its second season, the "Dallas" producers put together one of U.S. television's most memorable episodes in which Ewing was shot by an unseen assailant. That gave fans months to fret over whether J.R. would survive and who had pulled the trigger. In the show's opening the following season, it was revealed that J.R.'s sister-in-law, Kristin, with whom he had been having an affair, was behind the gun.

Hagman said an international publisher offered him $250,000 to reveal who had shot J.R. and he considered giving the wrong information and taking the money, but in the end, "I decided not to be so like J.R. in real life."

The popularity of "Dallas" made Hagman one of the best-paid actors in television and earned him a fortune that even a Ewing would have coveted. He lost some of it, however, in bad oil investments before turning to real estate.

"I have an apartment in New York, a ranch in Santa Fe, a castle in Ojai outside of L.A., a beach house in Malibu and thinking of buying a place in Santa Monica," Hagman said in a Chicago Tribune interview.

An updated "Dallas" series began in June 2012 on the TNT network with Hagman reprising his J.R. role with original cast members Linda Gray, who played J.R.'s long-suffering wife, Sue Ellen, and Patrick Duffy, who was his brother Bobby. The show was to focus on the sons of J.R. and Bobby.

Hagman had a wide eccentric streak. When he first met actress Lauren Bacall, he licked her arm because he had been told she did not like to be touched and he was known for leading parades on the Malibu beach and showing up at a grocery store in a gorilla suit. Above his Malibu home flew a flag with the credo "Vita Celebratio Est (Life Is a Celebration)" and he lived hard for many years.

In 1967, rock musician David Crosby turned him on to LSD, which Hagman said took away his fear of death, and Jack Nicholson introduced him to marijuana because Nicholson thought he was drinking too much.

Hagman had started drinking as a teenager and said he did not stop until the moment in 1992 when his doctor told him he had cirrhosis of the liver and could die within six months. Hagman wrote that for the past 15 years he had been drinking about four bottles of champagne a day, including while on the "Dallas" set.

LIVER TRANSPLANT

In July 1995, he was diagnosed with liver cancer, which led him to quit smoking, and a month later he underwent a liver transplant.

After giving up his vices, Hagman said he did not lose his zest for life.

"It's the same old Larry Hagman," he told a reporter. "He's just a littler sober-er."

Hagman was born on September 21, 1931, in Weatherford, Texas, and his father was a lawyer who dealt with the Texas oil barons Hagman would later come to portray. He was still a boy when his parents divorced and he went to Los Angeles with Martin, who would become a Broadway and Hollywood musical star.

Hagman eventually landed in New York to pursue acting, making his stage debut there in "The Taming of the Shrew." In New York, he married Maj Axelsson in 1954 while they were in a production of "South Pacific. The marriage produced two children, Heidi and Preston.

Hagman served in the Air Force, spending five years in Europe as the director of USO shows, and on his return to New York he took a starring role in the daytime soap "The Edge of Night." His breakthrough came in 1965 when he landed the "I Dream of Jeannie" role opposite Barbara Eden.

In his later years, Hagman became an advocate for organ transplants and an anti-smoking campaigner. He also was devoted to solar energy, telling the New York Times he had a $750,000 solar panel system at his Ojai estate, and made a commercial in which he portrayed a J.R. Ewing who had forsaken oil for solar power. He was a longtime member of the Peace and Freedom Party, a minor leftist organization in California.

Hagman told the Times that after death he wanted his remains to be "spread over a field and have marijuana and wheat planted and harvest it in a couple of years and then have a big marijuana cake, enough for 200 to 300 people. People would eat a little of Larry."

(Writing by Bill Trott in Washington; Additional reporting by Alex Dobuszinkis in Los Angeles; Editing by Peter Cooney)

Read More..

Early start to Black Friday shopping frenzy

NEW YORK/BLOOMINGTON, Minnesota (Reuters) - The U.S. shopping frenzy known as "Black Friday" kicked off at a more civilized hour, with some shoppers welcoming decisions by retailers such as Target Corp and Toys R Us Inc moving their openings earlier into Thursday night.

While the shift was denounced by some store employees and traditionalists as pulling people away from families on Thanksgiving (held on the fourth Thursday of November), many shoppers welcomed the chance to shop before midnight or in the early hours of the morning.

"I think it's better earlier. People are crazier later at midnight," Renee Ruhl, 52, a hotel worker, said at a Target in Orlando, Florida, where she was already heading to her car with an air hockey game loaded in her shopping cart at 9:30 p.m., or 2-1/2 hours before the chain opened last year.

The stakes are high for U.S. retailers - who can earn more than a third of their annual sales in the holiday season of which Black Friday marks the unofficial start - as they fight for a share of consumer spending that many economists don't expect to grow as much as last year.

The National Retail Federation forecast a 4.1 percent increase in retail sales during the November-December holiday period this year, down from a 5.6 percent increase seen in 2011.

In a separate survey, the NRF said 147 million people would shop on Friday through Sunday, down from 152 million the same weekend last year. It did not say how many planned to shop on Thursday.

Wal-Mart Stores Inc's U.S. discount stores, which have been open on Thanksgiving Day since 1988, offered some "Black Friday" deals at 8 p.m. local time on Thursday and special deals on certain electronics, like Apple Inc iPads, at 10 p.m.

The earlier hours lured people who had not previously considered braving the crowds on Black Friday, Jason Buechel, a senior executive in the retail practice of consultancy Accenture, said of his observations from malls.

SUPER BOWL OF SHOPPING

And they also made things more orderly.

"There's no stress, no bustling, no people busting down doors," Richard Stargill, a 43-year-old construction worker from New York, said, referring to incidents such as the 2008 death of a Walmart worker who was trampled by a mob of eager shoppers.

For Edward Segura, 50, who was at a Target in Tucson with his wife Belinda, 44, and their daughter, the earlier hours were a blessing.

"We'll shop tonight and tomorrow is freed up for enjoyment. I get to play golf and we're going to a football game later," said Segura. "My wife thinks of this as the Super Bowl of shopping, but I'd rather do something else."

Like many shoppers on Black Friday, Segura was looking at televisions. But electronics were not the only hot sellers.

At Macy's in Herald Square, the line at the Estee Lauder counter was four deep shortly after its midnight opening. The cosmetics department's "morning specials" included free high-definition headphones with any fragrance purchase of $75 or more and a set of six eye shadows for $10.

A Macy's employee, who declined to be named, said the crowds were huge and more than she was expecting.

And at the Target on Elston Avenue on Chicago's Northwest side, known as one of the highest-volume Target stores in the chain, the $25 Dirt Devil vacuum that normally goes for $39.99 was sold out, though there were still several large televisions. Items such as $2 towels were selling well, as were blankets, kids' slippers and pajamas.

As of 2 a.m. Central Time, Minnesota's Mall of America was poised to beat the record number of shoppers - 217,000 - it attracted the same day last year, according to the mall's public relations director Dan Jasper.

"SAVE THANKSGIVING"

Not everybody was happy with Black Friday starting earlier.

A petition asking Target to "save Thanksgiving" had 371,606 supporters as of Thursday afternoon.

Mike Labounty, 34, in Lyndonville, Vermont, was shopping on Thursday night for 32-inch Emerson televisions and other items on sale at the Walmart in Littleton, New Hampshire, with his partner, Darcy Mitchell.

"I think it should go back to Friday," he said. "It breaks up families. Just look at us — our kids are with their grandparents and they should be with us on Thanksgiving, but we're here getting them a TV."

Some workers were also using the day to send a message.

OUR Walmart - a coalition of current and former Wal-Mart staff seeking better wages, benefits and working conditions - has staged months of protests outside stores and has targeted "Black Friday" for action across the country.

Those actions come as consumers remain worried about high unemployment, possible tax increases and government spending cuts in 2013. Also, the lasting effects of Sandy, the storm that lashed the densely populated East Coast in late October, could cut into how much shoppers can spend.

According to a Reuters/Ipsos poll, two-thirds of shoppers said they were planning to spend the same amount as last year or were unsure about spending plans, while 21 percent intend to spend less and only 11 percent plan to spend more.

"I definitely have more money this year," said Amy Balser, 26, at the head of the line outside the Best Buy Co Inc store in the Mall of America. "I just did a lot more saving."

"I definitely don't think (the economy) has bounced back anywhere near as much as it needs to, but I see some improvement," she said.

Many shoppers used technology to help stretch their budgets, employing smartphones or other mobile gadgets to find deals.

At a Walmart in Bloomington, Minnesota, Derek M, 26, said he had used his smartphone to compare prices ever since the phone had that capability. He was at the store mainly for a deal on a Compaq AMD laptop for $179.

For more Reuters holiday coverage: [ID:nL1E8MEKLI]

(Additional reporting by Jessica Wohl in Chicago, Paul Ingram in Tucson, Arizona, Jason McLure in Littleton, New Hampshire, and Barbara Liston in Orlando, Florida; Writing by Brad Dorfman; Editing by Nick Macfie and David Holmes)

Read More..

Bank of Canada keeps “over time” condition on rate hike

OTTAWA (Reuters) – Bank of Canada Deputy Governor Tim Lane repeated on Wednesday the central bank‘s message that interest rate increases will likely be needed, but only over time.

The “over time” phrase was introduced in the bank’s key guidance in its rate statement on October 23 as a way of signaling that while the next rate move is likely to be up, such a move was less imminent than it had been.

“Over time, some gradual withdrawal of monetary policy stimulus will likely be required, consistent with achieving the inflation-control target,” Lane said, according to a prepared presentation he was giving on Wednesday in Moncton, New Brunswick.

Another part of the presentation, which was posted on the central bank’s website, noted: “The Canadian economy continues to operate with a small amount of excess supply.”

The Bank of Canada is alone in the Group of Seven leading industrialized countries in signaling an intention to raise rates despite expectations of modest and unbalanced global growth.

Lane forecast “very robust growth” in emerging markets, stagnation in Europe and significant dampening of U.S. growth due to fiscal consolidation. He said Canada‘s real gross domestic product was still expected to grow at a moderate pace.

(Reporting by Randall Palmer; Editing by Jeffrey Hodgson; and Peter Galloway)

Canada News Headlines – Yahoo! News

Read More..

Samsung wins U.S. court order to access Apple-HTC deal details

SAN FRANCISCO (Reuters) – A U.S. judge has ordered Apple Inc to disclose to rival Samsung Electronics details of a legal settlement the iPhone maker reached with Taiwan’s HTC Corp, including terms of a 10-year patents licensing agreement.

The Korean electronics giant had earlier filed a motion to compel its U.S. rival — with whom it is waging a bitter legal battle over mobile patents across several countries — to reveal details of the settlement that was reached on November 10 with HTC but which have been kept under wraps.

In August, the iPhone maker won a $ 1.05 billion verdict against Samsung after a U.S. jury found that certain Samsung gadgets violated Apple’s software and design patents.

Now, legal experts say the question of which patents are covered by the Apple-HTC settlement, and licensing details, could be instrumental in Samsung’s efforts to thwart Apple’s subsequent quest for a permanent sales ban on its products.

The Asian company has argued it is “almost certain” that the HTC deal covers some of the same patents involved in its own litigation with Apple.

The court on Wednesday ordered Apple to produce a full copy of the settlement agreement “without delay”, subject to an Attorneys-Eyes-Only designation.

Representatives for the U.S. company could not immediately be reached for comment.

Samsung also requested the California court to add three newly released Apple products — the iPod Touch 5, the iPad 4 and the iPad mini — to the list of devices that it claims to have infringed on some of its patents, according to court documents.

The settlement of Apple and HTC ended their worldwide litigation and brought to a close one of the first major flare-ups in the global smartphone patent wars.

Apple first sued HTC in 2010, setting in motion a legal conflagration that has since circled the globe and engulfed the biggest names in mobile technology, from Samsung to Google Inc’s Motorola Mobility unit.

(Reporting By Edwin Chan; Additional reporting by Miyoung Kim in SEOUL; Editing by Muralikumar Anantharaman)

Tech News Headlines – Yahoo! News

Read More..

Infections linked to tainted steroid injections nears 500 cases

NASHVILLE, Tennessee (Reuters) – A deadly outbreak of infections linked to tainted steroid injections is approaching 500 cases nearly two months after it began, and health experts said on Wednesday it was unclear whether the epidemic had peaked amid new risks facing patients.

Many patients initially stricken with fungal meningitis are developing secondary infections, prompting a renewed effort to contact people who received the injections, said health officials in Tennessee and Michigan, the two hardest-hit states.

The outbreak, first detected in Nashville, Tennessee, in September, has stricken at least 490 people in 19 states, with 34 deaths, according to the U.S. Centers for Disease Control and Prevention in Atlanta.

“I wouldn’t want to characterize the epidemic as having reached a peak or (say) that we are over the worst part,” Dr. J. Todd Weber, the CDC‘s incident manager, said on Tuesday.

Weber said many patients face weeks to months of additional treatment, more people may get sick, and there is more to learn about the infections to ensure the best care for those stricken.

The CDC has estimated that 14,000 patients received potentially tainted steroids believed to have been prepared in unsanitary conditions by a Massachusetts-based compounding pharmacy and shipped to customers in 23 states from May to September.

The rate of infection, based on 500 cases out of 14,000 people exposed mainly through injections to relieve back and joint pain, has been about 3.5 percent so far, somewhat lower than the 5 percent rate Tennessee first forecast, Weber said.

Tennessee was the epicenter of the outbreak early on and through Wednesday had reported 84 infections, including 13 deaths. Michigan through Wednesday had reported 64 meningitis cases and 91 incidences of epidural abscesses among a total of 164 patients, a number of whom had both.

Most of the early cases were of meningitis, but reports more recently have been of abscesses at the injection sites, many times in patients already being treated for meningitis, officials in Michigan and Tennessee said on Wednesday.

INCUBATION TIME UNCERTAIN

That makes it hard to determine how long the outbreak of steroid-related infections might yet last, officials said.

“These are presenting well into the course and I don’t think with the epidural abscess that we’ve been able to establish a real concrete incubation time,” said Jim Collins, director of the Michigan health department’s communicable disease division.

Tennessee has seen 49 patients with localized infections, most of whom also had fungal meningitis, Dr. John Dreyzehner, the state’s health commissioner, said on Wednesday.

“While these infections are not as serious as meningitis, they need to be identified and treated to prevent them from becoming a more significant health problem,” Dreyzehner said.

Dr. Robert Latham, chief of medicine and director of the infectious diseases program at Nashville’s St. Thomas Hospital, echoed Weber’s words of caution about the outbreak.

“Because this is an ever-evolving situation, we still don’t know how long patients will need treatment and when we’ll really see the end,” said Latham, who said he has spent some time with all 45 patients the hospital has treated in the outbreak.

St. Thomas Hospital was hit with an early influx of patients and was the first facility where doctors began to realize something had gone horribly wrong with medications from the New England Compounding Center.

Healthcare officials first predicted the outbreak would run its course in roughly six weeks, based on the incubation period initially estimated for the meningitis infections.

That six-week period passed in early November, and the number of cases being reported to state health agencies and the CDC has slowed “but it has not stopped,” the CDC’s Weber said.

Some patients have seen quick onset or much longer incubation periods, so doctors and patients have been warned to keep a close watch for at least several months.

(Additional reporting by David Bailey in Minneapolis; Editing by Steve Gorman and Todd Eastham)

Health News Headlines – Yahoo! News

Read More..

Gazans clean up as truce with Israel holds

GAZA CITY, Gaza Strip (AP) — Gaza residents cleared rubble and claimed victory on Thursday, just hours after an Egyptian-brokered truce between Israel and Gaza's Hamas rulers ended the worst cross-border fighting in four years.

The cease-fire announcement had set off frenzied late night street celebrations in the coastal strip, and raised hopes of a new era in relations between Israel and Hamas. The two sides are now to negotiate a deal that would open the borders of the blockaded Palestinian territory.

"Today is different, the morning coffee tastes different and I feel we are off to a new start," said Ashraf Diaa, a 38-year-old engineer from Gaza City.

However, the vague language in the agreement and deep hostility between the combatants made it far from certain that the bloodshed would end.

Israel launched the offensive on Nov. 14 to halt renewed rocket fire from Gaza, unleashing some 1,500 airstrikes on Hamas-linked targets, while Hamas and other Gaza militant groups showered Israel with hundreds of rockets.

It was the worst fighting since an Israeli invasion of Gaza four years ago.

The eight days of relentless strikes killed 161 Palestinians, including 71 civilians, and five Israelis. Israel also destroyed key symbols of Hamas power, such as the prime minister's office, along with rocket launching sites and Gaza police stations.

Despite the high human cost, Hamas claimed victory Thursday.

"The masses that took to the streets last night to celebrate sent a message to all the world that Gaza can't be defeated," said a spokesman, Sami Abu Zuhri.

While it is far from certain that Hamas will be able to pry open Gaza's borders in upcoming talks, the latest round of fighting has brought the Islamists unprecedented political recognition in the region. During the past week, Gaza became a magnet for visiting foreign ministers from Turkey and several Arab states — a sharp contrast to Hamas' isolation in the past.

Israel and the United States, even while formally sticking to a policy of shunning Hamas, also acknowledged the militant group's central role by engaging in indirect negotiations with the Islamists. Israel and the West consider Hamas, which seized Gaza by force in 2007, to be a terrorist organization.

Israeli Defense Minister Ehud Barak, meanwhile, defended his decision not to launch a ground offensive, in contrast to Israel's invasion of Gaza in the winter of 2008-2009.

"You don't get into military adventures on a whim, and certainly not based on the mood of the public, which can turn the first time an armored personnel carrier rolls over or an explosive device is detonated against forces on the ground," he told Israel Army Radio.

"The world's mood also can turn," he said, referring to warnings by the U.S. and Israel's other Western allies of the high cost of a ground offensive.

However, with the cease-fire just a few hours old, Israel was not rushing to bring home all of the thousands of reservists it had ordered to the Gaza border in the event of a ground invasion, Barak said.

Barak was defense minister during Israel's previous major military campaign against Hamas, which drew widespread international criticism and claims of war crimes.

The mood in Israel was mixed, with some grateful that quiet had been restored without a ground operation that could have cost the lives of soldiers.

Others — particular those in southern Israel who have endured 13 years of rocket fire — thought the operation was abandoned too quickly and without guaranteeing their security.

___

Associated Press writer Amy Teibel in Jerusalem contributed reporting.

Read More..

Greek PM presses for deal on loan

ATHENS, Greece (AP) — Greece has reacted with dismay to the European Union‘s failure to agree to release vital rescue loan funds for the debt-ridden country, with the prime minister warning it was not just Greece’s future that hangs in the balance.

The delay prolongs uncertainty over the future of Greece, which faces a messy default that would threaten the entire euro currency used by 17 EU nations.

Prime Minister Antonis Samaras stressed that Greece has done what its creditors from the EU and International Monetary Fund required. “Our partners, along with the IMF, also must do what they have committed to doing,” he said.

He said that “it is not just the future of our country, but the stability of the entire eurozone” that depend on the success of negotiations in coming days.

Europe News Headlines – Yahoo! News

Read More..