HP hit with civil securities lawsuit over Autonomy deal












SAN FRANCISCO (Reuters) – Hewlett-Packard Co was sued on Monday by an investor who claimed the company knew statements about its Autonomy acquisition were misleading and led the stock to fall, according to lawyers representing the plaintiff.


The proposed class action lawsuit was filed in a San Francisco federal court.












HP dropped a bombshell last Tuesday with an $ 8.8 billion write-down on its acquisition of British software firm Autonomy, saying the company inflated sales with improper accounting. Autonomy co-founder Mike Lynch has denied any wrongdoing.


HP bought Autonomy for a hefty $ 11.1 billion last year. HP has said it alerted regulators on both sides of the Atlantic.


The lawsuit, one of the first to be filed by investors on the Autonomy mess, said HP hid the fact it gained control of Autonomy based on financial statements that could not be relied upon. It also said that HP had not revealed to investors that it tried to undo the Autonomy agreement before it closed because of the accounting issues.


(Reporting By Dan Levine and Poornima Gupta; Editing by Gerald E. McCormick and Andre Grenon)


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Larry Hagman Memorials Set for Dallas and Los Angeles






Update








UPDATED
11/26/2012 at 05:50 PM EST

Originally published 11/26/2012 at 06:50 PM EST







Larry Hagman as J.R. Ewing


TNT


Larry Hagman will be remembered in two memorials this weekend – one in Dallas and one in Los Angeles – while his family decides what to do with his ashes.

"Right now we are going to be keeping his ashes within the family and we going to wait for my mother to pass on so they can be together," says his son Preston.

Hagman's wife of 58 years, Maj Hagman, is "in the later stages of Alzheimer's," says Preston, "so she’s not the person that she was, but she’s very well taken care of."

"My father spoke to her and saw her every day," Preston says. "He was the most kind and caring man to my mother right up until the end."

Hagman, who also starred in TV's I Dream of Jeannie, died Nov. 23 at age 81 of complications from cancer. He was surrounded by family and friends.

A previous announcement that the actor's ashes would be spread "around the world" was premature, says Preston.

The two-state, invitation-only "Celebration for Larry" memorials will both take place this weekend.

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Bounce houses a party hit but kids' injuries soar

CHICAGO (AP) — They may be a big hit at kids' birthday parties, but inflatable bounce houses can be dangerous, with the number of injuries soaring in recent years, a nationwide study found.

Kids often crowd into bounce houses, and jumping up and down can send other children flying into the air, too.

The numbers suggest 30 U.S. children a day are treated in emergency rooms for broken bones, sprains, cuts and concussions from bounce house accidents. Most involve children falling inside or out of the inflated playthings, and many children get hurt when they collide with other bouncing kids.

The number of children aged 17 and younger who got emergency-room treatment for bounce house injuries has climbed along with the popularity of bounce houses — from fewer than 1,000 in 1995 to nearly 11,000 in 2010. That's a 15-fold increase, and a doubling just since 2008.

"I was surprised by the number, especially by the rapid increase in the number of injuries," said lead author Dr. Gary Smith, director of the Center for Injury Research and Policy at Nationwide Children's Hospital in Columbus, Ohio.

Amusement parks and fairs have bounce houses, and the playthings can also be rented or purchased for home use.

Smith and colleagues analyzed national surveillance data on ER treatment for nonfatal injuries linked with bounce houses, maintained by the U.S. Consumer Product Safety Commission. Their study was published online Monday in the journal Pediatrics.

Only about 3 percent of children were hospitalized, mostly for broken bones.

More than one-third of the injuries were in children aged 5 and younger. The safety commission recommends against letting children younger than 6 use full-size trampolines, and Smith said barring kids that young from even smaller, home-use bounce houses would make sense.

"There is no evidence that the size or location of an inflatable bouncer affects the injury risk," he said.

Other recommendations, often listed in manufacturers' instruction pamphlets, include not overloading bounce houses with too many kids and not allowing young children to bounce with much older, heavier kids or adults, said Laura Woodburn, a spokeswoman for the National Association of Amusement Ride Safety Officials.

The study didn't include deaths, but some accidents are fatal. Separate data from the product safety commission show four bounce house deaths from 2003 to 2007, all involving children striking their heads on a hard surface.

Several nonfatal accidents occurred last year when bounce houses collapsed or were lifted by high winds.

A group that issues voluntary industry standards says bounce houses should be supervised by trained operators and recommends that bouncers be prohibited from doing flips and purposefully colliding with others, the study authors noted.

Bounce house injuries are similar to those linked with trampolines, and the American Academy of Pediatrics has recommended against using trampolines at home. Policymakers should consider whether bounce houses warrant similar precautions, the authors said.

___

Online:

Pediatrics: http://www.pediatrics.org

Trade group: http://www.naarso.com

___

AP Medical Writer Lindsey Tanner can be reached at http://www.twitter.com/LindseyTanner

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Wall Street edges down after recent rally; retailers weigh

NEW YORK (Reuters) - Wall Street slipped on Monday, pulling back from last week's gains, as retailers fell on concerns about heavy discounts at the start of the U.S. holiday shopping season and the overhang of the "fiscal cliff" kept investors wary of making big bets.


The Nasdaq outperformed to close higher, led by gains in eBay and as Apple continued its bounce back.


The Standard & Poor's 500 cut most of its losses during the session and managed to stay above the psychologically important 1,400 level. It also remained above the 200-day moving average, maintaining its long-term uptrend.


The S&P 500 consumer discretionary index <.gspd> fell 0.5 percent after the start of the holiday shopping season over the four-day Thanksgiving weekend. Target , one of the largest retailers by market value, fell 2.6 percent.


"The concern is big retailers are discounting so much, sales look better, but at what cost?" said Angel Mata, managing director of listed equity trading at Stifel Nicolaus Capital Markets in Baltimore.


Bucking the retail trend, shares of eBay closed at their highest in almost eight years, rising 4.9 percent to $51.40, as the online marketplace notched strong sales on "Cyber Monday." Amazon gained 1.6 percent to $243.62.


The White House threw cold water on a proposal of avoiding the looming "fiscal cliff" of spending cuts and tax highs by limiting tax deductions and loopholes, instead of allowing tax rates to rise for the richest Americans.


Investors are hoping for advances in talks over the $600 billion in spending cuts and tax hikes scheduled to begin next year, which threaten to drag the U.S. economy back into recession.


Indications of progress in talks, or just political willingness to negotiate, contributed to the market's recent rally. Major indexes last week gained 3 to 4 percent, with the Dow above 13,000 and the S&P above 1,400 for the first time since November 6.


Those gains represented a turnaround from recent losses founded on worries about Washington's ability to solve budgetary problems.


The Dow Jones industrial average <.dji> fell 42.31 points, or 0.33 percent, to 12,967.37. The S&P 500 <.spx> dropped 2.86 points, or 0.20 percent, to 1,406.29. The Nasdaq Composite <.ixic> gained 9.93 points, or 0.33 percent, to 2,976.78.


About 5.2 billion shares changed hands on the New York Stock Exchange, the Nasdaq and NYSE MKT, below the daily average so far this year of about 6.49 billion shares.


On the NYSE, roughly 13 issues fell for every 10 that rose, and on Nasdaq nearly six rose for every five that fell.


In the other major worry for the market, euro zone finance ministers and the International Monetary Fund made their third attempt in as many weeks to agree on releasing emergency aid for Greece, with policymakers saying a write-down of Greek debt is off the table for now.


"There's no catalyst to continue the rally we saw last week, though Greece would have been important if we weren't dealing with the fiscal cliff," Stifel Nicolaus' Mata said.


Shares of Knight Capital Group Inc jumped 13.3 percent to $2.82 following reports that rivals might be preparing to bid for part or all of the trading firm.


Apple Inc has asked a federal court to add six more products to its patent infringement lawsuit against Samsung Electronics , including the Samsung Galaxy Note II, in the latest move in an ongoing legal war between the two companies. Apple shares were up 3.2 percent at $589.53.


(Reporting by Rodrigo Campos; Editing by Leslie Adler)


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Egypt's Mursi to meet judges over power grab

CAIRO (Reuters) - Egyptian President Mohamed Mursi will meet senior judges on Monday to try to ease a crisis over his seizure of new powers which has set off violent protests reminiscent of last year's revolution which brought him to power.


Egypt's stock market plunged on Sunday in its first day open since Mursi issued a decree late on Thursday temporarily widening his powers and shielding his decisions from judicial review, drawing accusations he was behaving like a new dictator.


More than 500 people have been injured in clashes between police and protesters worried Mursi's Muslim Brotherhood aims to dominate the post-Hosni Mubarak era after winning Egypt's first democratic parliamentary and presidential elections this year.


One Muslim Brotherhood member was killed and 60 people were hurt on Sunday in an attack on the main office of the Brotherhood in the Egyptian Nile Delta town of Damanhour, the website of the Brotherhood's Freedom and Justice Party said.


Egypt's highest judicial authority hinted at compromise to avert a further escalation, though Mursi's opponents want nothing less than the complete cancellation of a decree they see as a danger to democracy.


The Supreme Judicial Council said Mursi's decree should apply only to "sovereign matters", suggesting it did not reject the declaration outright, and called on judges and prosecutors, some of whom began a strike on Sunday, to return to work.


Mursi would meet the council on Monday, state media said.


Mursi's office repeated assurances that the measures would be temporary, and said he wanted dialogue with political groups to find "common ground" over what should go in Egypt's constitution, one of the issues at the heart of the crisis.


Hassan Nafaa, a professor of political science at Cairo University, saw an effort by the presidency and judiciary to resolve the crisis, but added their statements were "vague". "The situation is heading towards more trouble," he said.


Sunday's stock market fall of nearly 10 percent - halted only by automatic curbs - was the worst since the uprising that toppled Mubarak in February, 2011.


Images of protesters clashing with riot police and tear gas wafting through Cairo's Tahrir Square were an unsettling reminder of that uprising. Activists were camped in the square for a third day, blocking traffic with makeshift barricades. Nearby, riot police and protesters clashed intermittently.


"BACK TO SQUARE ONE"


Mursi's supporters and opponents plan big demonstrations on Tuesday that could be a trigger for more street violence.


"We are back to square one, politically, socially," said Mohamed Radwan of Pharos Securities, an Egyptian brokerage firm.


Mursi's decree marks an effort to consolidate his influence after he successfully sidelined Mubarak-era generals in August. It reflects his suspicions of a judiciary little reformed since the Mubarak era.


Issued just a day after Mursi received glowing tributes from Washington for his work brokering a deal to end eight days of violence between Israel and Hamas, the decree drew warnings from the West to uphold democracy. Washington has leverage because of billions of dollars it sends in annual military aid.


"The United States should be saying this is unacceptable," former presidential nominee John McCain, leading Republican on the Senate Armed Services Committee, said on Fox News.


"We thank Mr. Mursi for his efforts in brokering the ceasefire with Hamas ... But this is not what the United States of America's taxpayers expect. Our dollars will be directly related to progress toward democracy."


The Mursi administration has defended his decree as an effort to speed up reforms that will complete Egypt's democratic transformation. Yet leftists, liberals, socialists and others say it has exposed the autocratic impulses of a man once jailed by Mubarak.


"There is no room for dialogue when a dictator imposes the most oppressive, abhorrent measures and then says 'let us split the difference'," prominent opposition leader Mohamed ElBaradei said on Saturday.


WARNINGS FROM WEST


Investors had grown more confident in recent months that a legitimately elected government would help Egypt put its economic and political problems behind it. The stock market's main index had risen 35 percent since Mursi's victory. It closed on Sunday at its lowest level since July 31.


Political turmoil also raised the cost of government borrowing at a treasury bill auction on Sunday.


"Investors know that Mursi's decisions will not be accepted and that there will be clashes on the street," said Osama Mourad of Arab Financial Brokerage.


Just last week, investor confidence was helped by a preliminary agreement with the International Monetary Fund over a $4.8 billion loan needed to shore up state finances.


Mursi's decree removes judicial review of decisions he takes until a new parliament is elected, expected early next year.


It also shields the Islamist-dominated assembly writing Egypt's new constitution from a raft of legal challenges that have threatened it with dissolution, and offers the same protection to the Islamist-controlled upper house of parliament.


"I am really afraid that the two camps are paving the way for violence," said Nafaa. "Mursi has misjudged this, very much so. But forcing him again to relinquish what he has done will appear a defeat."


Many of Mursi's political opponents share the view that Egypt's judiciary needs reform, though they disagree with his methods. Mursi's new powers allowed him to sack the prosecutor general who took his job during the Mubarak era and is unpopular among reformists of all stripes.


(Additional reporting by Yasmine Saleh and Marwa Awad in Cairo and Philip Barbara in Washington; Editing by Peter Graff and Philippa Fletcher)


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Nokia imaging chief to quit












HELSINKI (Reuters) – Nokia‘s long-time imaging chief Damian Dinning has decided to leave the loss-making cellphone maker at the end of this month, the company said in a statement.


The strong imaging capabilities of the new Lumia smartphone models are a key sales argument for the former market leader, which has been burning through cash while losing share in both high-end smartphones and cheaper handsets.












Nokia’s Chief Executive Stephen Elop has replaced most of the top management since he joined in late 2010 and Dinnig is the latest of several executives to leave.


Dinning did not want to move to Finland as part of the phonemakers’ effort to concentrate operations and will join Jaguar Land Rover to head innovations in the field of connected cars, he said on Nokia’s imaging fan site PureViewclub.com.


(Reporting By Tarmo Virki, editing by William Hardy)


Tech News Headlines – Yahoo! News


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Tom Cruise Films Helicopter Scene in Empty Trafalgar Square















11/25/2012 at 05:15 PM EST







Tom Cruise in Trafalgar Square


FameFlynet


Back to work!

After spending Thanksgiving with daughter Suri, 6, Tom Cruise filmed scenes for the sci-fi action film All You Need Is Kill in London on Sunday.

The actor, who plays alien fighter Lt. Col. Bill Cage, landed in a helicopter in the middle of the usually bustling Trafalgar Square, which was shut down for the scene, in the heart of London.

Based on Hiroshi Sakurazaka's novel, the movie follows Cage as he battles the Mimics, a violent race of alien invaders, while stuck in a time loop.

Emily Blunt also stars in the film as Special Forces fighter Rita Vrataski, who according to Deadline.com, has destroyed more Mimics than anyone else on earth.

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Apple seeks to add more products to Samsung patent lawsuit

(Reuters) - Apple Inc has asked a federal court to add six more products to its patent infringement lawsuit against Samsung Electronics Co, including the Samsung Galaxy Note II, in the latest in move in an ongoing legal war between the two companies.


The case is one of two patent infringement lawsuits pending in the U.S. District Court in San Jose by Apple against Samsung. An earlier lawsuit by Apple that related to different patents resulted in a $1.05 billion jury verdict against Samsung on August 24.


Apple is also seeking to add the Samsung Galaxy S III, running the new Android "Jelly Bean" operating system, the Samsung Galaxy Tab 8.9 Wifi, the Samsung Galaxy Tab 2 10.1, the Samsung Rugby Pro, and the Samsung Galaxy S III Mini, to its lawsuit, according to a court filing on Friday.


"Apple has acted quickly and diligently to determine that these newly-released products do infringe many of the same claims already asserted by Apple," the company said in the filing.


Samsung representatives did not immediately respond to requests for comment.


Apple filed the second lawsuit in February, alleging that various Samsung smartphone and tablet products including the Galaxy Nexus infringed eight of its patents.


Samsung denied infringement and filed a cross-complaint alleging that Apple's iPhone and iPad infringed eight of its patents.


A U.S. judge on November 15 allowed Samsung to pursue claims the iPhone5 also infringes its patents.


The case is Apple Inc. v. Samsung Electronics Co., Ltd. et al, No. 12-cv-00630.


(Reporting By John McCrank; Editing by Theodore d'Afflisio)


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Egypt's Mursi faces judicial revolt over decree

CAIRO (Reuters) - Egyptian President Mohamed Mursi faced a rebellion from judges who accused him on Saturday of expanding his powers at their expense, deepening a crisis that has triggered violence in the street and exposed the country's deep divisions.


The Judges' Club, a body representing judges across Egypt, called for a strike during a meeting interrupted with chants demanding the "downfall of the regime" - the rallying cry in the uprising that toppled Hosni Mubarak last year.


Mursi's political opponents and supporters, representing the divide between newly empowered Islamists and their critics, called for rival demonstrations on Tuesday over a decree that has triggered concern in the West.


Issued late on Thursday, it marks an effort by Mursi to consolidate his influence after he successfully sidelined Mubarak-era generals in August. The decree defends from judicial review decisions taken by Mursi until a new parliament is elected in a vote expected early next year.


It also shields the Islamist-dominated assembly writing Egypt's new constitution from a raft of legal challenges that have threatened the body with dissolution, and offers the same protection to the Islamist-controlled upper house of parliament.


Egypt's highest judicial authority, the Supreme Judicial Council, said the decree was an "unprecedented attack" on the independence of the judiciary. The Judges' Club, meeting in Cairo, called on Mursi to rescind it.


That demand was echoed by prominent opposition leader Mohamed ElBaradei. "There is no room for dialogue when a dictator imposes the most oppressive, abhorrent measures and then says 'let us split the difference'," he said.


"I am waiting to see, I hope soon, a very strong statement of condemnation by the U.S., by Europe and by everybody who really cares about human dignity," he said in an interview with Reuters and the Associated Press.


More than 300 people were injured on Friday as protests against the decree turned violent. There were attacks on at least three offices belonging to the Muslim Brotherhood, the movement that propelled Mursi to power.


POLARISATION


Liberal, leftist and socialist parties called a big protest for Tuesday to force Mursi to row back on a move they say has exposed the autocratic impulses of a man once jailed by Mubarak.


In a sign of the polarization in the country, the Muslim Brotherhood called its own protests that day to support the president's decree.


Mursi also assigned himself new authority to sack the prosecutor general, who was appointed during the Mubarak era, and appoint a new one. The dismissed prosecutor general, Abdel Maguid Mahmoud, was given a hero's welcome at the Judges' Club.


In open defiance of Mursi, Ahmed al-Zind, head of the club, introduced Mahmoud by his old title.


The Mursi administration has defended the decree on the grounds that it aims to speed up a protracted transition from Mubarak's rule to a new system of democratic government.


Analysts say it reflects the Brotherhood's suspicion towards sections of a judiciary unreformed from Mubarak's days.


"It aims to sideline Mursi's enemies in the judiciary and ultimately to impose and head off any legal challenges to the constitution," said Elijah Zarwan, a fellow with The European Council on Foreign Relations.


"We are in a situation now where both sides are escalating and its getting harder and harder to see how either side can gracefully climb down."


ADVISOR TO MURSI QUITS


Following a day of violence in Cairo, Alexandria, Port Said and Suez, the smell of tear gas hung over the capital's Tahrir Square, the epicentre of the uprising that toppled Mubarak in 2011 and the stage for more protests on Friday.


Youths clashed sporadically with police near the square, where activists camped out for a second day on Saturday, setting up makeshift barricades to keep out traffic.


Al-Masry Al-Youm, one of Egypt's most widely read dailies, hailed Friday's protest as "The November 23 Intifada", invoking the Arabic word for uprising.


But the ultra-orthodox Salafi Islamist groups that have been pushing for tighter application of Islamic law in the new constitution have rallied behind Mursi's decree.


The Nour Party, one such group, stated its support for the Mursi decree. Al-Gama'a al-Islamiya, which carried arms against the state in the 1990s, said it would save the revolution from what it described as remnants of the Mubarak regime.


Samir Morkos, a Christian assistant to Mursi, had told the president he wanted to resign, said Yasser Ali, Mursi's spokesman. Speaking to the London-based Asharq Al-Awsat newspaper, Morkos said: "I refuse to continue in the shadow of republican decisions that obstruct the democratic transition".


Mursi's decree has been criticized by Western states that earlier this week were full of praise for his role in mediating an end to the eight-day war between Israel and Palestinians.


"The decisions and declarations announced on November 22 raise concerns for many Egyptians and for the international community," State Department spokeswoman Victoria Nuland said.


The European Union urged Mursi to respect the democratic process.


(Additional reporting by Omar Fahmy, Marwa Awad, Edmund Blair and Shaimaa Fayed and Reuters TV; Editing by Jon Hemming)


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Police mull action over false Twitter abuse claims












LONDON (Reuters) – Britons who posted remarks on Twitter and in blogs wrongly identifying a senior Conservative politician as a child sex abuser might face prosecution after police said on Wednesday they were looking to see if any crimes had been committed.


Lord Alistair McAlpine, an ally of former Prime Minister Margaret Thatcher, was widely named on social media sites as being the unidentified politician accused in a report by the BBC’s Newsnight program of abusing boys in social care.












McAlpine, who is 70 and in poor health, vigorously denied the claims and the abuse victim central to the BBC story later confirmed that the peer was not one of his attackers.


London’s Metropolitan Police said no criminal allegations had yet been made but that detectives would be meeting with McAlpine to begin assessing whether action should be taken.


Under the Malicious Communications Act, people can be prosecuted for sending any electronic communication or article which conveys a grossly offensive message or information which is false and believed to be false by the sender.


“It is far too early to say whether any criminal investigation will follow,” the police said in a statement.


The intervention comes as lawyers for McAlpine continued legal action against those who “sullied” his reputation.


The BBC has already agreed to pay 185,000 pounds ($ 294,400)over the Newsnight report, and his lawyers have also contacted ITV after a presenter on a chat show brandished a list of alleged abusers during an interview with Prime Minister David Cameron.


McAlpine has also threatened to go after Twitter users, and media reports said his legal team had identified up to 10,000 defamatory tweets.


Sally Bercow, flamboyant wife of Britain’s parliamentary speaker, the man who keeps lawmakers in order during debates, is one of those who could face legal action.


Other Twitter users have been asked to come forward, apologize and make a “sensible and modest” donation to charity as compensation, at a level yet to be decided.


“Given the large amount of information that continues to be disseminated, the band for which the charity payment will be settled shall be when Lord McAlpine has a full understanding of this material,” his lawyers said in a statement.


“The donation is intended for tweeters with fewer than 500 followers, but those with larger numbers of followers are still encouraged to identify themselves and offer their formal apologies at this stage.”


(Reporting by Michael Holden; editing by Steve Addison)


Internet News Headlines – Yahoo! News


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