UnitedHealth forecasts 2013 profit below Wall St view












(Reuters) – UnitedHealth Group Inc , the largest U.S. private health insurer, said on Monday it expected 2013 earnings of $ 5.25 to $ 5.50 per share, below analysts‘ expectations.


Revenue should be $ 123 billion to $ 124 billion, the company said, higher than the Wall Street target. UnitedHealth gave the forecast in a statement ahead of a Tuesday meeting with analysts and investors.












Analysts had expected 2013 earnings of $ 5.58 per share on revenue of $ 119.12 billion, according to Thomson Reuters I/B/E/S.


UnitedHealth said during a quarterly conference call in October that analysts’ estimates for 2013 were too high, citing the weak economy and government efforts to rein in the deficit. At that time, the consensus was for earnings of $ 5.60 per share.


UnitedHealth has a history of exceeding its forecast, Oppenheimer analyst Michael Wiederhorn said in a research note. “Overall, we believe UNH’s outlook will prove conservative,” he wrote.


Wiederhorn said it was not immediately clear if the Wall Street consensus outlook for 2013 revenue was comparable and included sales from Brazil’s Amil Participacoes SA , which it acquired for $ 4.9 billion.


UnitedHealth also reaffirmed its 2012 outlook for earnings of $ 5.20 to $ 5.25 per share.


(Reporting by Caroline Humer; Editing by Lisa Von Ahn and Jeffrey Benkoe)


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Is Jordan Headed for an Arab Spring?












5383d  maha aziz Is Jordan Headed for an Arab Spring?


In 2011, during the first wave of the Arab Spring, Jordan stood out as an oasis of stability. Recurrent but largely peaceful protests demanding political reform led to two prime ministers being sacked by King Abdullah II in February and October. This year, in the movement’s next wave, some protesters have shifted their focus to direct criticism of the  monarch—an act that can lead to a prison sentence of up to three years in the kingdom. Could King Abdullah, an American ally in a highly unstable region, be the next casualty of popular upheaval?












That’s unlikely at this point mostly because protesters still focus mainly on reforms, both political and economic. They appear willing to give the king one more chance. Whatever he proposes, we can certainly expect a bumpy road before the monarch manages to reclaim any domestic legitimacy, especially after almost two years of significant political and economic crises. Not helping are the growing presence of jihadists —11 members of an al Qaeda-linked cell were arrested in October in an alleged local bomb plot—and the influx of more than 100,000 refugees from neighboring Syria.


In early September, thousands of protesters in nine of Jordan’s 12 provinces demanded the resignation of Prime Minister Fayez al-Tarawneh after the government decided to raise fuel prices by 10 percent. Although King Abdullah promptly suspended the government’s move, some protesters openly mocked him, leading to at least 15 arrests. In October, more than 10,000 Jordanians protested for political reforms in the capital, Amman, despite the king’s call for early elections and plans for electoral reform.


Most recently, in mid-November, thousands protested in cities and towns in more than 100 demonstrations across Jordan following the government’s decision to lower fuel subsidies once again—this time to avoid complete economic collapse by reducing the country’s budget deficit and securing a $ 2 billion loan from the International Monetary Fund. In some rallies, protesters spoke out against the king; in Dhiban, some burned pictures of him. The Islamist opposition—the Muslim Brotherhood’s Islamic Action Front (IAF) party—has been vocal about its intention to keep protests going, despite the use by riot police of water canons and tear gas on protesters. So far 17 civilians and 58 policemen have been hurt, one protester has been killed, and 158 have been arrested. The military has said it will use “an iron fist” against protesters who “harm public or private facilities or citizens.”


All this unrest exacerbates a severe political crisis. Besides the dismissal of two prime ministers in 2011, three prime ministers have already held power this year: Awn al-Khasawneh, Fayez al-Tarawneh, and the current leader, Abdullah Ensour. King Abdullah has called for elections to be held on Jan. 23, but the opposition—particularly the IAF—has announced plans to boycott the election. Despite concessions by the king that include a constitutional court and an election that will apparently produce an elected prime minister for the first time, rather than one appointed by the monarch, the unrest will probably continue until the IAF and the monarchy reach some consensus about the election.


The economic crisis is severe. Unemployment stands officially at more than 11 percent, but unofficial estimates suggest it is as high as 30 percent. Prices of such basic items as heating kerosene and cooking gas have, respectively, increased by more than 30 percent and 50 percent following the removal of government subsidies. The country faces a significant energy crisis. Much-needed aid from Saudi Arabia and other Arab nations has not yet been delivered. The monarch’s promise of “comprehensive development” clearly isn’t appeasing anyone.


There’s no question that King Abdullah’s domestic legitimacy has eroded significantly in the last two months. This growing legitimacy crisis will continue into 2013—unless there arrives some kind of political agreement involving the IAF, along with economic concessions providing immediate popular relief. If not, Jordan’s days of absolute monarchy could be numbered, despite international support from the U.S., Israel, and other Arab monarchies.


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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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Rolling Stones return to mark 50 years in music












LONDON (Reuters) – The Rolling Stones take to the stage later on Sunday after a five-year hiatus to celebrate the golden jubilee of one of the most successful and enduring bands in rock and roll history.


Now in their mid-60s to early 70s, lead singer Mick Jagger, guitarists Keith Richards and Ronnie Wood and drummer Charlie Watts will perform five concerts – two at the O2 Arena in London on November 25 and 29 and three in the United States next month.












Joining them at the O2 on Sunday will be former band members Bill Wyman and Mick Taylor, the first time the two ex-Stones have performed with the group in more than 20 years.


And in a fresh announcement on Saturday, American R&B singer-songwriter Mary J. Blige and guitar great Jeff Beck have also been added to the lineup as special guests.


The flamboyant veterans behind a string of hits including “(I Can’t Get No) Satisfaction”, “You Can’t Always Get What You Want” and “Jumpin’ Jack Flash” have promised a “stunning” gig lasting more than two hours.


A sellout crowd of some 20,000 people is expected, in spite of widespread complaints from fans at ticket prices that ranged from 95 pounds ($ 150) to up to 950 pounds for a VIP seat.


Costs went far higher on secondary ticketing websites, although by Friday eBay was offering several seats to Sunday’s show at below face value and there were places still officially available at around 400 pounds apiece.


The band has defended the prices, saying that the shows are expensive to put on, although Billboard, a specialist music publication, reported that the quartet would be paid $ 25 million for the four shows first announced. A fifth was added later.


BURST OF ACTIVITY


The concerts are the culmination of a busy few months of events, rehearsals and recordings to mark 50 years since the blues-infused rockers first took to the stage at the Marquee Club on London‘s Oxford Street in July, 1962.


There has been a photo album, two new songs, a music video, a documentary film, a blitz of media appearances and a handful of warm-up gigs in Paris.


The O2 Arena was where another top band of the 1960s and 70s, Led Zeppelin, staged an eagerly awaited one-off reunion in 2007, and while the Stones have appeared together far more regularly, it is their first arena performance in six years.


One factor behind the long break has been Wood’s struggle with alcohol addition, according to Rolling Stone magazine, while Jagger and Richards also fell out over comments the guitarist made about the singer in a 2010 autobiography.


“We can’t get divorced – we’re doing it for the kids!” joked Richards in a recent interview after apologizing to Jagger.


While the rock and roll excesses of the swinging 60s and 70s are in the past for the band, and their very best songs may be behind them, music critics praised their recent single “Doom and Gloom” from the “GRRR!” greatest hits album just released.


And there have been hints from the band that the five gigs which wind up at the Newark Prudential Center on December 15 may not be the end of their reunion.


“Once the juggernaut starts rolling, it ain’t gonna stop,” Richards told Rolling Stone. “So without sort of saying definitely yes – yeah. We ain’t doing all this for four gigs!”


(Reporting by Mike Collett-White, editing by Paul Casciato)


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Bangladesh’s worst-ever factory blaze kills over 100












DHAKA (Reuters) – Fire swept through a garment factory on the outskirts of Bangladesh‘s capital killing more than 100 people, the fire brigade said on Sunday, in the country’s worst-ever factory blaze.


Working conditions at Bangladeshi factories are notoriously poor, with little enforcement of safety laws, and overcrowding and locked fire doors are common. The cause of this fire was not immediately known.












The blaze at the nine-storey Tazreen Fashion factory in the Ashulia industrial belt of Dhaka started on the ground floor late on Saturday and spread, trapping hundreds of workers.


“So far, the confirmed death toll is 109, including nine who died by jumping from the building,” Mizanur Rahman, deputy director of the fire brigade, told Reuters.


Witnesses said the workers, mostly women, ran for safety as the fire engulfed the plant but were unable to get through narrow exits.


“Many jumped out from the windows and were injured, or died on the spot,” Milon, a resident, said.


Most of the bodies were burnt beyond recognition and authorities had started burials while mourning relatives scrambled to find their loved ones, officials and witnesses said.


Unofficial sources put the number of dead at more than 120. Most of the bodies were found on the second floor, Rahman said.


Bangladesh has around 4,500 garment factories and is the world’s biggest exporter of clothing after China, with garments making up 80 percent of its $ 24 billion annual exports.


This was the highest ever death toll in a Bangladeshi factory fire. In 2006, 84 people were killed in a blaze in the southern port of Chittagong where fire exits had been blocked.


More than 300 factories near the capital shut for almost a week earlier this year as workers demanded higher wages and better working conditions.


(Editing by Nick Macfie)


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Hostess CEO: Why I’m Shutting Down Twinkies












I made the decision to liquidate Hostess last night (Nov. 15). A number of factors have contributed to this. Hostess is 93 percent unionized, and it’s been formed by a number of acquisitions over the decades; a lot of old rules were just grandfathered into contracts from companies that no longer exist. There were all these crazy work rules, like one driver can only drive cake and the other can only drive bread. Hostess went through bankruptcy in 2004 and not enough work was done in that filing to deal with these issues.


I hear that the push toward healthier food is what did us in, but that hasn’t affected us at all. Why do you have chocolate companies? How do you explain doughnut shops when doughnuts haven’t changed in 100 years? We were north of $ 2 billion a year in sales. They weren’t the problem, our cost structure was.












I came on board at Hostess in February, and I was stunned by how little had been accomplished. We managed to make a deal with the Teamsters but the bakers didn’t support what they’d agreed to. I told them that if there’s going to be a strike over the negotiations, we won’t be able to withstand it and we have to liquidate. But I don’t think they believed us. We had 36 Hostess plants when the strike started two weeks ago, but we immediately closed three, so we only had 33 left. Bakers were crossing the picket line in some numbers but not enough to keep things going. Last night I got the update: 11 plants still weren’t operating. After that I communicated with my board and made the decision. That was a difficult call to make. I had people on that call who’d been working 20 hours a day at these plants, trying to make enough product to keep them on the shelves.


I look at this as a failure. I’ve spent a lot of time wondering why we didn’t make more progress. I’m a turnaround guy, I’m a pretty optimistic guy. I don’t think this was the inevitable end. We had a shot at surviving, but we couldn’t overcome the strike. We have potential buyers for our brands and we’ll contact them, but I haven’t even thought about that yet. We sent everyone home from the plants. That’s 18,500 people out of work. — As told to Claire Suddath


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Cricket-Australia v South Africa – second test scoreboard












ADELAIDE, Nov 24 (Reuters) – Scoreboard at the close of the


third day of the second test between Australia and South Africa












at Adelaide Oval on Saturday:


Australia won the toss and chose to bat


Australia first innings 550


South Africa first innings


G. Smith c Wade b Siddle 122


A. Petersen run out 54


H. Amla st Wade b Warner 11


J. Rudolph c Quiney b Lyon 29


AB de Villiers lbw b Siddle 1


F. du Plessis c Clarke b Hilfenhaus 78


D. Steyn c Ponting b Hilfenhaus 1


R. Kleinveldt b Hilfenhaus 0


J. Kallis c Wade b Clarke 58


M. Morkel b Lyon 6


I. Tahir not out 10


Extras (b-7, lb-2, w-3, nb-6) 18


Total: (all out, 124.3 overs) 388


Fall of wickets: 1-138 2-169 3-233 4-233 5-240 6-246 7-250


8-343 9-352 10-388


Bowling: B. Hilfenhaus 19.3-6-49-3, J. Pattinson 9.1-0-41-0


(nb-4, w-1) N. Lyon 44-7-91-2, P. Siddle 30.5-6-130-2 (nb-2), M.


Clarke 7-1-22-1, M. Hussey 1-0-7-0 (w-2), D. Warner 5-0-27-1, R.


Quiney 8-3-12-0


Australia second innings


D. Warner c Du Plessis b Kleinveldt 41


E. Cowan b Kleinveldt 29


R. Quiney c De Villiers b Kleinveldt 0


R. Ponting b Steyn 16


M. Clarke not out 9


P. Siddle c De Villiers b Morkel 1


M. Hussey 5


Extras (lb-7, nb-3) 10


Total (for five wickets, 32 overs) 111


Fall of wickets: 1-77 2-77 3-91 4-98 5-103


Still to bat: M. Wade, B. Hilfenhaus, J. Pattinson, N. Lyon.


Bowling: Steyn 10-4-28-1, Morkel 9-2-24-1, Kleinveldt


6-1-14-3 (nb-2), Tahir 7-1-38-0 (nb-1)


- -


Third test: WACA, Perth Nov. 30-Dec. 4


(Compiled by Ian Ransom; Editing by Alastair Himmer)


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China’s ‘Beijing Blues’ wins at Taiwan film fest












TAIPEI, Taiwan (AP) — China‘s “Beijing Blues” has won the best film award at Taiwan’s Golden Horse Film Festival, an event considered the Chinese-language Oscars. Hong Kong‘s Johnnie To is taking home the best director’s award


“Beijing Blues” portrays the lives of the ordinary urban dwellers through the work of a squad of plainclothes crime-hunters.












At Saturday’s ceremony, To won the award for directing “Life Without Principle,” a movie about ordinary citizens’ struggles in hard economic times.


The film has also won veteran Hong Kong actor Lau Ching Wan the best actor’s award. Lau portrays a triad thug seeking to recover money lost in a loan shark scheme.


Taiwan’s Gwei Lun-mei won the best actress award for portraying a woman involved in a romantic triangle in “GF-BF” or “Girlfriend-Boyfriend.”


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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)


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Trust lacking in comparison sites













Consumers’ lack of trust in some price comparison websites means that they miss out on potential savings, a regulator has said.












A previous study by the Office of Fair Trading (OFT) said that consumers could collectively save up to £240m a year by using these websites effectively.


But the OFT has now written to 100 leading operators asking them to make information on websites clearer.


One consumer group recently called for comparison websites to be regulated.


‘Step forward’


The use of price comparison websites has grown significantly as more and more consumers gain internet access.


For example, the majority of motor insurance policies are now bought by drivers who search through price comparison sites.


In its latest report, the OFT said these websites had brought a “major step forward” for consumers in getting better value for money.


Yet it said that a review of 55 different sites had shown that many could improve on their privacy settings, their complaints process, the way results were displayed, and clear identification of who was operating the site.


The Data Protection Act requires that all businesses collecting personal data explain to consumers who is collecting their information, what they intend to do with it and who it will be shared with.


The report also urged consumers to:


  • Look for opt-out options if they do not want their information to be shared

  • Be aware of how results are displayed – by relevance, price or popularity

  • Use different websites, rather than relying on a claim that the website has “found the best deal”

  • Check who runs the site, not just the name, and use accredited websites if possible

“Price comparison websites help busy shoppers find a good deal, but people might not realise that by being a bit savvier they can get even more out of these websites,” said Clive Maxwell, chief executive of the OFT.


“Not all price comparison websites have the same standards.”


Watchdog Consumer Focus, which runs an accreditation service, said that these websites needed to trade fairly and openly to be regarded as trustworthy brokers between consumers and markets.


“An open and honest relationship with customers is vital given the consumer distrust of many of the markets they use comparison sites to shop around,” said chief executive Mike O’Connor.


The consumers’ association Which? has previously called for price comparison websites to be regulated because the information they provided was not always fair.


It said that initial prices could seem very cheap because sites automatically pre-selected certain options for insurance products.


That led to some quotes being misleading and could cause customers to spend more than necessary – a claim that was disputed by one comparison site.


BBC News – Business


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