(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)
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.
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)
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.”
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.
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.
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.
The Brussels summit has ended without agreement on the 27-strong union’s next seven-year budget.
A BBC correspondent says another meeting will have to be called to sort out the difficulties but it is unclear how differences will be resolved.
European Council chief Herman Van Rompuy said he was confident a deal would be reached early next year.
Hours of talks failed to bridge big gaps between richer countries and those which rely most on EU funding.
The UK said current EU spending levels must be frozen.
Continue reading the main story
“Start Quote
Angela Merkel and I both agreed that it would be better to take some time out”
End QuoteFrancois HollandeFrench president
The EU’s divisions are very clear and have become even more stark at a time of economic crisis, says the BBC’s Chris Morris in Brussels.
Mr Van Rompuy had reshuffled the allocations in his original proposed budget during the summit, but he kept in place a spending ceiling of 973bn euros (£783bn; $ 1.2tn).
With the eurozone’s dominant states, Germany and France, unable to agree on the budget, UK Prime Minister David Cameron had warned against “unaffordable spending”.
The failure to decide on a budget came just days after the finance ministers of the 17 eurozone states failed to agree on conditions for releasing a new tranche of bailout money to Greece, raising questions about the union’s decision-making process.
‘No threats’
Mr Van Rompuy’s budget had been unacceptable to a number of other countries, not just Britain, Mr Cameron told reporters.
Continue reading the main story
Analysis
The summit laid bare clear divisions between richer northern countries in the EU, and the poorer south and east. It mirrored the divide that has emerged in the eurozone between northern creditors and southern debtors.
But the uneasy relationship between France and Germany also played a role – when they don’t agree, things tend to move slowly. Germany wanted further cuts in the budget proposal – not as many as Britain and others – but cuts all the same.
France on the other hand, supported by Italy and Spain, was keen to defend the EU’s biggest spending projects.
So striking a deal at a second summit in the New Year won’t be at all easy. But there are two reasons to think that it might succeed.
One is that failure to reach an agreement would mean the EU falling back on more expensive annual budgets.
The other is that many people are keen to avoid a prolonged budget stalemate, which could divert attention from other more important issues – notably the need to take more steps to resolve the crisis in the eurozone.
“Together, we had a very clear message: ‘We are not going to be tough on budgets at home just to come here and sign up to big increases in European spending’,” he said.
“We haven’t got the deal we wanted but we’ve stopped what would have been an unacceptable deal,” he added. “And in European terms I think that goes down as progress.”
German Chancellor Angela Merkel said she was sympathetic towards Mr Cameron’s view – but no more than she was to all countries involved in the discussion.
“The discussions, both the bilateral discussions and the common discussion, have shown us that there is sufficient potential for an agreement,” she added.
French President Francois Hollande said the summit had made “progress”.
“There were no threats, no ultimatums,” he told reporters. “Angela Merkel and I both agreed that it would be better to take some time out because we want there to be an agreement.”
Without naming the UK, he also said it was time the system of budget rebates was reconsidered.
“It is a paradox, because some net contributors [EU countries that pay in more than they get back] get some of the money back even though they are in a situation where they are wealthy enough for them not to get this money back,” he said.
Lithuanian President Dalia Grybauskaite remarked that the atmosphere at the summit had been “surprisingly good because the divergence in opinions was so large that there was nothing to argue about”.
European Commission chief Jose Manuel Barroso said the talks had failed owing to “important differences of opinion – especially in overall size of the budget”.
Revisions
The Commission, which drafts EU laws, had originally called for a budget of 1.025tn euros.
UK Prime Minister David Cameron: “We still believe a deal is do-able”
Its position was supported by the European Parliament and many countries which are net beneficiaries, including Poland, Hungary and Spain.
While most EU members supported some increase in the budget, several, mostly the big net contributors, argued it was unacceptable at a time of austerity.
Germany, the UK, France and Italy are the biggest net contributors to the budget, which amounts to about 1% of the EU’s overall GDP.
Mr Van Rompuy’s revised budget would have softened the blow to the two main areas of spending: development in the EU’s poorer regions, and agriculture.
Instead, there would have been greater cuts to energy, transport, broadband and the EU’s foreign service.
His proposal, put to leaders on Thursday evening, would have made no change to the level of administrative costs – something the UK might have found unacceptable.
Speaking after the summit, Mr Van Rompuy said: “My feeling is that we can go further… It has to be balanced and well prepared, not in the mood of improvisation, because we are touching upon jobs, we are touching upon sensitive issues.”
Failure to agree on the budget by the end of next year would mean rolling over the 2013 budget into 2014 on a month-by-month basis, putting some long-term projects at risk.
Analysts say that could leave the UK in a worse position, because the 2013 budget is bigger than the preceding years of the 2007-2013 multi-year budget.
British man finds carrier pigeon skeleton in his fireplace with unbreakable secret code (Reuters)
Before military forces had secure cell phones and satellite communications, they used carrier pigeons. The highly trained birds delivered sensitive information from one location to another during World War II. Often, the birds found the intended recipient. But not always.
A dead pigeon was recently discovered inside a chimney in Surrey, England. There for roughly 70 years, the bird had a curious canister attached to its leg. Inside was a coded message that has stumped the experts.
The code features a series of 27 groups of five letters. According to Reuters, nobody from Britain’s Government Communications Headquarters has been able to decipher it. The message was sent by a Sgt. W. Scott to someone or something identified as “Xo2.”
A spokesperson remarked, “Although it is disappointing that we cannot yet read the message brought back by a brave carrier pigeon, it is a tribute to the skills of the wartime code-makers that, despite working under severe pressure, they devised a code that was indecipherable both then and now.”
The bird was discovered by a homeowner doing renovations earlier this month. In an interview with Reuters, David Martin remarked that bits of birds kept falling from the chimney. Eventually, Margin saw the red canister and speculated that it might contain a secret message. And it seems as if the message will always be secret.
Carrier pigeons played a vital role in wars due to their incredible homing skills. All told, U.K. forces used about 250,000 of the birds during World War II.
