Nintendo’s amazing triumph in Japan may doom the company internationally

According to Japanese gaming bible Famitsu, Nintendo (NTDOY) 3DS sold 333,000 units in the week ending December 16, while Sony’s (SNE) PS Vita limped along at 13,000 units, the new Wii U did an okay 130,000 units and the PlayStation 3 managed to sell 46,000 units.  The utter hardware domination of the 3DS is reshaping the Japanese software market. Franchises that were thought to be fading have been revitalized in their portable versions. The 3DS version of the ancient Animal Crossing series, famed for being the game where nothing happens, hit a staggering 1.7 million units last week in Japan. Inazuma Eleven sold 170,000 units in its launch week, up from 140,000 units its DS version managed in 2011.

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Nintendo’s portable console 3DS had a muted start in its home market in the spring of 2011. Many thought that Sony would have a fair shot at competing with Nintendo once Playstation Vita launched at the end of 2011. But once Nintendo executed an aggressive price cut for 3DS in the summer of 2011 and then launched a large-screen version of the console in mid-2012, the gadget has grown into a Godzilla in Japan, demolishing both Sony Vita and aging tabletop console competition.

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3DS is doing well also in America, where its lifetime sales are moving close to the 6 million unit mark this holiday season. According to NPD, the 3DS sales in the United States topped 500,000 units in November. That’s a decent number, though far from the torrid volume the portable is racking up in its home market. The U.S. November video game software chart was dominated by massive home console juggernauts: new installments of Call of Duty, Halo and Assassin’s Creed franchises shifted more than 13 million units in retail. At the same time, the Japanese software chart remains in a ’90s time warp, dominated by Nintendo’s musty masterpieces: Super Mario Brothers, Pokemon, Animal Crossing, etc.

Japanese and American tastes have always been different. But what we are witnessing now is a particularly fascinating divergence. American consumers are spending more of their time and money on smartphone and tablet games, while console game spending is increasingly focusing on massive, graphically stunning blockbuster titles on Xbox360 and PS3. The casual gamers are shifting to mobile games, while hardcore gamers remain attracted to sprawling epics on home consoles. The overall video game spending in America keeps declining month after month, as casual titles and mid-list games slide. But the Triple A whales like the Call of Duty series are doing better than ever.

In Japan, Nintendo has been able to battle back iPhone and Android game invasion with a nostalgic series of portable games that basically recycle the biggest hits of ’80s and early ’90s. Mario, Pokemons and other portable heroes are slowly losing their grip on U.S. and European consumers. But in Japan, some form of national nostalgia is keeping Nintendo on track.

The problem here is that the Japanese success of the 3DS may now be convincing Nintendo that it does not have to reconsider its business strategy. The smartphone and tablet game spending continues growing explosively across the world. Unlike console games, mobile game sales in China are legal. The global gaming spending is shifting towards new hardware platforms even as console mammoths like Halo still reign in America. At this critical juncture, Nintendo has managed to cocoon its home market in a web of nostalgia, turning the 3DS console and its Eighties left-over franchises into epic bestsellers yet again.

This means that there is no sense of urgency to push Nintendo into rethinking its long-term plans. The company may continue simply ignoring the smartphone and tablet challenge, designing new portable consoles and the 28th Mario game to support it. Twenty years ago, Japan’s insularity doomed its chances to succeed in the mobile phone business. And now the idiosyncratic nature of Japan may be leading its biggest entertainment industry success astray.

This article was originally published by BGR

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Midwest storm sparks 25-vehicle crash

DES MOINES, Iowa (AP) — The first widespread snowstorm of the season began a slow crawl across the Midwest on Thursday, creating treacherous driving conditions that, in Iowa, led to a 25-vehicle pileup that killed one person.

Drivers were blinded by blowing snow and didn't see vehicles that had slowed or stopped on Interstate 80 about 60 miles north of Des Moines, state police said. A chain reaction of crashes involving semitrailers and passenger cars closed down a section of the highway.

Drivers throughout the Midwest were harried by heavy snow and strong winds that combined for blizzard conditions in areas from Kansas to Wisconsin. Those who planned to fly before the Christmas holiday didn't fare much better. Snow, wind and thunderstorms forced delays and cancellations at some of the nation's busiest airports, including those in Dallas and Chicago. Meanwhile, tens of thousands of people lost power as heavy snow and strong winds pulled down lines.

While the snow had tapered off by sunrise in Des Moines, Iowa transportation officials had advised drivers to stay off highways until midnight, and police repeated that warning after the crash north of the city.

"It's time to listen to warnings and get off the road," said Col. David Garrison, of the Iowa State Patrol. "Iowa's highways and interstates remain in poor condition for travel."

Conditions weren't much better on city streets. Thomas Shubert, a clerk at a store in Gretna near Omaha, said his brother drove him to work in his 4-by-4 truck but that some of his neighbors weren't so fortunate.

"I saw some people in my neighborhood trying to get out. They made it a few feet, and that was about it," Shubert said. "I haven't seen many cars on the road. There are a few brave souls out, but mostly trucks and plows."

The heavy, wet snow made some unplowed streets in Des Moines nearly impossible to navigate in anything other than a four-wheel drive vehicle. Even streets that had been plowed remained snow-packed and slippery. Jackknifed semitrailers were reported on sections of Interstates 80 and 35 east and north of the city, with portions of the roads closed until the accidents could be cleared.

While the snow had tapered off by sunrise in Des Moines, transportation officials warned drivers to stay off highways until midnight. Strong winds were creating whiteout conditions. The airport at Creston, Iowa, recorded the highest winds, with a gust of 53 mph, said Kevin Skow, a National Weather Service meteorologist in the city.

Strong wind contributed to tens of thousands of power outages in Arkansas, Iowa and Nebraska. While snow pulled down most lines in Iowa, others were felled by big gusts, said Justin Foss, a spokesman for Alliant Energy, which had 13,000 customers without power in central Iowa.

"The roads have been so bad our crews have not been able to respond to them," said Justin Foss, a spokesman for Alliant Energy, which had 13,000 customers without power in central Iowa. "We have giant four-wheel-drive trucks with chains on them so when we can't get there it's pretty rough."

Utilities reported more than 33,000 customers without power in the Des Moines area, more than 36,000 outages in eastern Nebraska and more than 41,000 without power in Arkansas, where thunderstorms took out lines. Smaller outages were reported in Alabama, Kansas, Missouri, Illinois and Louisiana.

Meteorologist Scott Dergan said the snow cover would drag temperatures much lower in Nebraska and Iowa.

"We're talking single digits," Dergan said. "We may even see some sub-zero temperatures in Nebraska. This cold weather will stick around for several days, maybe until the day after Christmas. So we're definitely going to have a white Christmas."

Before the storm, several cities in the Midwest had broken records for the number of consecutive days without measurable snow.

Chicago commuters began Thursday with heavy fog and cold, driving rain, and forecasters said snow would hit the Midwestern metropolis by mid-afternoon. Officials at O'Hare International Airport reported some flight delays and more than 90 cancellations. United Airlines said it would waive change fees for travelers who have to change their plans for travel through O'Hare because of the storm.

American Airlines reported 120 cancellations in Dallas because of thunderstorms there. There also were delays, most involving smaller regional planes that have more flight restrictions, spokeswoman Andrea Huguely said.

"We are trying to delay as much as we can, instead of canceling, because we know that we have many customers who are trying to make their holiday travel plans," Huguely said.

Along with Thursday's fatal accident in Iowa, the storm that swept through the Rockies earlier in the week was blamed for deaths in Wisconsin and Utah. At least two people died Wednesday in a fatal crash on slick roads in southeastern Wisconsin, sheriff's officials said. In southeastern Utah, a woman who tried to walk for help after her car became stuck in snow died Tuesday night. Search and rescue crews on snowmobiles found her buried in the snow just a few miles from her car.

The owner of the Norske Nook restaurant and bakery in Osseo, a town in west-central Wisconsin that woke up to at least 10 inches of snow, said "blizzardy" conditions were not unusual for the area and that the weather would not upset her business.

"It's our policy to stay open for the customers," said Jean Zingshiem. "In case someone is stranded they'll have somewhere to go."

Bill Riggins, of Madison, Wis. said he wouldn't let a little blizzard stop him from riding his bike into work on the University of Wisconsin campus, about five miles from his house. Riggins said his metal-studded snow tires did the trick for the early morning commute at 4:45 a.m.

"I honestly think it would have been more trouble to drive," Riggins said. The ride, which normally takes about 25 minutes, took 40 in the snow. As conditions worsen during the day, Riggins said he expected the ride home to take about an hour.

On the southern edge of the storm system, high winds damaged homes and downed trees in central Arkansas, the weather service said. A powerful storm peeled the roofs off buildings and toppled trucks in Mobile, Ala., but injured no one. Tornado warnings remained in effect in parts of Mississippi, Louisiana and Alabama early Thursday.

Hundreds of schools across the Midwest canceled classes Thursday because of heavy overnight snow. Government offices in Iowa and Nebraska were closed.

The moisture was welcome to farmers in the drought-parched region, but Meteorologist Kris Sanders said the storm wouldn't make much of a dent. In Kansas, for example, some areas are more than 12 inches below normal precipitation for the year.

"It's not going to have a big effect, maybe only a half-inch of liquid precipitation. It's not helping us out much," Sanders said.

Sanders said another storm similar to the current one could bring additional snow on Christmas or the day after.

Blake Landau, a cook serving eggs, roast beef sandwiches and chili to hungry snow plow drivers at Newton's Paradise Cafe in downtown Waterloo, Iowa, said he has always liked it when it snows on his birthday. He turned 27 on Thursday.

"It's kind of one of those things where it's leading up to Christmas time," Landau said. "We don't know when we get our first snowfall, and I hope we get it by my birthday. It's nice to have a nice snowy Christmas."

___

Beck reported from Omaha, Neb. Associated Press writers Scott Mayerowitz in New York; Dinesh Ramde and Gretchen Ehlke in Milwaukee; Scott Bauer in Madison, Wis.; Heather Hollingsworth in Kansas City, Mo.; Carla K. Johnson and Jason Keyser in Chicago; Jill Bleed in Little Rock, Ark.; and Ryan J. Foley in Iowa City, Iowa contributed to this report.

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State Department security chief leaves post over Benghazi

WASHINGTON (Reuters) – The U.S. State Department said on Wednesday its security chief had resigned from his post and three other officials had been relieved of their duties following a scathing official inquiry into the September 11 attack on the U.S. mission in Benghazi.

Eric Boswell has resigned effective immediately as assistant secretary of state for diplomatic security, State Department spokeswoman Victoria Nuland said in a terse statement. A second official, speaking on condition of anonymity, said Boswell had not left the department entirely and remained a career official.

Nuland said that Boswell, and the three other officials, had all been put on administrative leave “pending further action.”

An official panel that investigated the incident concluded that the Benghazi mission was completely unprepared to deal with the attack, which killed U.S. Ambassador Christopher Stevens and three other Americans.

The unclassified version of the report, which was released on Tuesday, cited “leadership and management” deficiencies, poor coordination among officials and “real confusion” in Washington and in the field over who had the authority to make decisions on policy and security concerns.

“The ARB identified the performance of four officials, three in the Bureau of the Diplomatic Security and one in the Bureau of (Near Eastern) Affairs,” Nuland said in her statement, referring to the panel known as an Accountability Review Board.

Secretary of State Hillary Clinton accepted Boswell’s decision to resign effective immediately, the spokeswoman said.

Earlier, a U.S. official who spoke on condition of anonymity said Boswell, one of his deputies, Charlene Lamb, and a third unnamed official has been asked to resign. The Associated Press first reported that three officials had resigned.

PANEL STOPS SHORT OF BLAMING CLINTON

The Benghazi incident appeared likely to tarnish Clinton’s four-year tenure as secretary of state but the report did not fault her specifically and the officials who led the review stopped short of blaming her.

“We did conclude that certain State Department bureau-level senior officials in critical positions of authority and responsibility in Washington demonstrated a lack of leadership and management ability appropriate for senior ranks,” retired Admiral Michael Mullen, one of the leaders of the inquiry, told reporters on Wednesday.

The panel’s chair, retired Ambassador Thomas Pickering, said it had determined that responsibility for security shortcomings in Benghazi belonged at levels lower than Clinton’s office.

“We fixed (responsibility) at the assistant secretary level, which is, in our view, the appropriate place to look for where the decision-making in fact takes place, where – if you like – the rubber hits the road,” Pickering said after closed-door meetings with congressional committees.

The panel’s report and the comments by its two lead authors suggested that Clinton, who accepted responsibility for the incident in a television interview about a month after the Benghazi attack, would not be held personally culpable.

Pickering and Mullen spoke to the media after briefing members of the House of Representatives Foreign Affairs Committee and Senate Foreign Relations Committee behind closed doors on classified elements of their report.

Clinton had been expected to appear at an open hearing on Benghazi on Thursday, but is recuperating after suffering a concussion, dehydration and a stomach bug last week. She will instead be represented by her two top deputies.

Clinton, who intends to step down in January, said in a letter accompanying the review that she would adopt all of its recommendations, which include stepping up security staffing and requesting more money to fortify U.S. facilities.

The National Defense Authorization Act for 2013, which is expected to go to Congress for final approval this week, includes a measure directing the Pentagon to increase the Marine Corps presence at diplomatic facilities by up to 1,000 Marines.

Some Capitol Hill Republicans who had criticized the Obama administration’s handling of the Benghazi attacks said they were impressed by the report.

“It was very thorough,” said Senator Johnny Isakson. Senator John Barrasso said: “It was very, very critical of major failures at the State Department at very high levels.” Both spoke after the closed-door briefing.

Others, however, took a harsher line and called for Clinton to testify as soon as she is able.

“The report makes clear the massive failure of the State Department at all levels, including senior leadership, to take action to protect our government employees abroad,” Representative Mike Rogers, the Republican chairman of the House Intelligence Committee, said in a statement.

Senator Bob Corker, who will be the top Republican on the Senate Foreign Relations Committee when the new Congress is seated early next year, said Clinton should testify about Benghazi before her replacement is confirmed by the Senate.

Republicans have focused much of their firepower on U.S. Ambassador to the United Nations Susan Rice, who appeared on TV talk shows after the attack and suggested it was the result of a spontaneous protest rather than a premeditated attack.

The report concluded that there was no such protest.

Rice, widely seen as President Barack Obama’s top pick to succeed Clinton, withdrew her name from consideration last week.

(Additional reporting by Tabassum Zakaria and Susan Cornwell; Editing by Christopher Wilson)

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“Gangnam Style” in line for UK dictionary inclusion

LONDON (Reuters) – He has the most-watched video in Youtube history, become a pop sensation with a horse-riding dance craze that has swept the world and now Korean singer Psy may cement his place in popular culture with recognition from a British dictionary.

“Gangnam Style,” Psy’s signature song, has been chosen along with “fiscal cliff” and “Romneyshambles” as some of Collins Dictionary‘s words of the year.

“We were looking for words that told the story of the year,” said Ian Brookes, the dictionary‘s consultant editor.

“Some words are from events that have been and gone and so are not likely to stick around … but others are probably here to stay.”

Other headline entries centered on American politics.

“Fiscal cliff” has drawn a lot of attention as the deadline for Congress and President Obama to agree on government spending and tax plans draws nearer.

While the term “Romneyshambles” entered the British public’s consciousness after Mitt Romney‘s gaffe-ridden visit to London in July in which he questioned Britain’s readiness to host the Olympics.

The inclusion of “47 percent” on the list after a leaked video showed Romney telling donors that 47 percent of Americans would definitely vote for Obama because of their dependency on the government capped off a bad year for the losing presidential candidate.

Collins received over 7,000 submissions on its online database.

Twelve words of the year – one for each month – were then selected on the basis of the frequency with which they were spoken, how many places they appeared and their longevity in public discourse.

Appearing on the Collins words of the year list is no guarantee of insertion in the next dictionary.

But Gangnam Style stands a very good chance, Brookes said.

“It’s obviously a craze, so there’s the possibility it will go away. But it’s been heard by so many people that I think it’s probably earned the right to go into the dictionary.”

Other words of the year include “mummy porn” after the popularity of the “Fifty Shades of Grey” books, and “superstorm” after Superstorm Sandy wreaked havoc along the east coast of America in October.

(Reporting By Peter Schwartzstein, editing by Paul Casciato)

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Wii U finally gets Nintendo’s TVii service on December 20th

After a month-long delay, Nintendo (NTDOY) will launch its Nintendo TVii service for the Wii U on December 20th in the U.S. and Canada. Nintendo TVii is the company’s take on organizing all of the various video streaming and DVR services a user might subscribe to and then displaying them in an easy-to-navigate touchscreen-based interface on the Wii U GamePad. With Nintendo TVii, Nintendo hopes to make content discovery an easier task, rather than a chore. At the same time, Nintendo TVii will offer new “second-screen” experiences (similar to Xbox SmartGlass) with built-in social sharing options to Facebook (FB), Twitter and the Wii U console’s Miiverse.

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Nintendo TVii will support Amazon (AMZN) Instant Video, Hulu Plus and cable and satellite providers on Thursday, but Netflix (NFLX) and TiVo (TIVO) support won’t hit the U.S. until “early 2013.” Nintendo didn’t state when TVii support for the latter two will hit Canada.

For the consumer’s sake, we hope the download for Nintendo TVii doesn’t take as long as past system updates.

Nintendo’s press release follows below.

Nintendo Makes TV Smart and Social – Nintendo TVii Launches Dec. 20

New Wii U Service Gives Every Member of the Family His or Her Own Personalized, Easy-to-Use Second-Screen Viewing Experience

REDMOND, Wash.–(BUSINESS WIRE)–The company that changed how we play is about to change how we watch. On Dec. 20, Nintendo will introduce Nintendo TVii, a free, integrated service for the recently launched Wii U console that combines what you watch and how you watch into one seamless, second-screen experience on the revolutionary new Wii U GamePad controller.

The rapid increase in both the quality and availability of video entertainment content – hundreds of satellite and cable channels, a seemingly endless amount of video-on-demand options – has made finding something to watch a complex and occasionally frustrating process. The solution to this problem is coming from perhaps an unexpected place: a video game console.

“After Dec. 20, you’ll never look at your TV the same way again,” said Nintendo of America President and COO Reggie Fils-Aime. “Wii U owners have already experienced the transformative effect that the GamePad has on game play and social interaction. Nintendo TVii shows how the integrated second screen of the GamePad can also transform and enhance the TV viewing experience. Welcome to the new world of TVii.”

Nintendo TVii maximizes Wii U owners’ current cable, satellite and video-on-demand services by pulling all of their available content sources – such as a Comcast cable package or Hulu Plus subscription – into one place. This empowers Wii U owners to focus on whatthey want to watch and not how they want to watch. And once users find the show, sporting event or movie they want, they press an icon and Nintendo TVii does the rest.

In addition to greatly simplifying finding and watching video content, Nintendo TVii also includes a series of social features that enable Wii U owners to share experiences and exciting moments with friends as they are happening on live TV. People can engage with others by commenting and sharing on Miiverse, Facebook and Twitter. Or they can comment, post or tweet about an incredible touchdown, a remarkable performance or a shocking plot twist, all using the personal screen of the Wii U GamePad.

Nintendo TVii requires no additional equipment and can be enjoyed with very little setup, demonstrating what’s possible when the second screen is truly integrated with the TV. Wii U owners can also discover more information about what they’re watching by easily accessing information on the GamePad via an Internet connection, including cast details, movie reviews from Rotten Tomatoes and sports data such as live stats and scores.

Nintendo TVii launches in the United States and Canada on Dec. 20. At launch, the service will support cable and satellite providers in both regions, as well as direct integration with Amazon Instant Video and Hulu Plus subscriptions in the United States. Further integration with Netflix subscriptions and TiVo are expected in early 2013 in the United States. Wii U owners with a Netflix subscription can still access the Netflix application from the Wii U system’s main menu and enjoy their favorite content accordingly.

All elements of the Nintendo TVii service are included in the purchase price of the Wii U system. Users will define which services they currently subscribe to – including the channel lineup in their cable package and video-on-demand service subscriptions – as part of the setup process.

Nintendo TVii observes the Wii U system parental controls, and additional options specific to the Nintendo TVii features can be chosen in the Nintendo TVii settings. Every member of the family can create a different viewing profile. For more information about this and other features, visit http://www.nintendo.com/wiiu.

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Madonna leads Billboard’s top-grossing tours

LOS ANGELES (Reuters) – While this year’s pop charts have been dominated by young singers, it is veteran music stars, led by Madonna, who are commanding big money in tour ticket sales, according to a new Billboard list released on Tuesday.

Madonna, 54, topped Billboard‘s list of highest-grossing live tours, earning an estimated $ 228.4 million in ticket sales from her sold-out ninth worldwide tour in support of her 12th studio album “MDNA.” The singer will wrap her tour in South America this weekend, after performing more than 80 shows across the world starting in Israel in May.

Madonna came ahead of pop star Lady Gaga, who landed at No. 6, with ticket sales of $ 124.9 million from her worldwide “Born This Way Ball” tour. Gaga, 26, is currently midway through her tour, which kicked off in South Korea in April, and will wrap in Oklahoma in March 2013.

Music publication Billboard compiled its list through estimated gross ticket sales figures from Billboard box scores, which tracks concert tours, ticket prices and sales.

The top five highest-grossing tour acts of 2012 included Bruce Springsteen, 63, and the E Street band at No. 2 with $ 199 million from 72 shows and Pink Floyd’s Roger Waters, 69, at No. 3 with $ 186 million.

Cirque Du Soleil‘s homage to late singer Michael Jackson in “The Immortal World Tour” ranked No. 4 with $ 147.3 million over 183 shows, and British rock band Coldplay was fifth with $ 147.2 million over 67 shows.

The only other young stars in the list of 25 top-grossing tours was Canadian pop star Justin Bieber, 18, at No. 20 with $ 30 million from 29 shows as part of his ongoing “Believe” tour, and country-pop darling Taylor Swift, 23, who raked in $ 26 million from 21 shows from her “Speak Now World Tour.”

Last year, Swift ranked No. 5 on Billboard‘s list with an estimated $ 97 million in ticket sales from her “Speak Now World Tour,” while Bieber came in at No. 15 with $ 44 million.

Swift will embark on her third worldwide concert tour in support of her studio album “Red” in March 2013.

(Reporting By Piya Sinha-Roy; Editing by Patricia Reaney and Eric Walsh)

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Drugs group Lundbeck’s shares hit by profit warning

COPENHAGEN (Reuters) – Shares in Danish drugs firm Lundbeck fell to their lowest level in over 12 years on Wednesday after it cut its profits forecast for the next two years as European sales slow and spending on new products rise to combat generic competition.

The company has already warned that earnings would stall until 2015 due to cheap generic competition for its existing drugs, meaning new products will be vital for future earnings.

But Chief Executive Ulf Wiinberg said on Wednesday that the negative impact on revenue from healthcare reforms in Europe had also been bigger than expected in the last two years and that slowing European sales and generic competition were hurting.

As a result the company said operating profits would fall further than previously forecast in 2014 as it increases investments in its late-stage drugs development pipeline and product launches.

Lundbeck is working to find new drugs to replace lost revenue from products coming off patent protection such as its antidepressant Cipralex, which is sold as Lexapro in the United States and Japan, and Alzheimer’s drug Ebixa.

Wiinberg said 2014 would be the company’s peak investment year for the new products pipeline, offering it a solid foundation for growth starting in 2015.

“You only get one chance to launch a product and we have to do it well,” Wiinberg said at a briefing for investors.

He was commenting after the company warned in a statement that it now expects revenue in 2014 of about 14 billion Danish crowns ($ 2.5 billion) and an operating profit of between just 0.5 billion and 1 billion crowns.

Analysts have on average been forecasting a profit of over 2.5 billion crowns for 2014 on turnover of over 14.7 billion crowns, according to Thomson Reuters I/B/E/S Estimates.

Two years ago Lundbeck predicted its annual revenues over the period 2012-2014 would exceed 14 billion crowns a year while earnings before interest and tax (EBIT) would exceed 2 billion crowns a year.

Next years’ revenue is now forecast to be in the range of 14.1 billion and 14.7 billion crowns to produce an operating profit of 1.6 billion to 2.1 billion crowns, with no change to the company’s forecast for 2012.

Analysts’ forecasts for this year are for operating profit to drop 41 percent to 1.99 billion crowns on revenue down 8 percent at 14.7 billion crowns, while for 2013 they predict a profit of 2.26 billion crowns on revenue of 14.5 billion crowns.

Lundbeck’s shares were trading down 17 percent at 79.90 crowns at 12.44 p.m. British time, dropping below 80 crowns for the first time since April 2000.

“In the short term, earnings are under pressure,” Sydbank analyst Soren Hansen said.

Lundbeck said that it expects a dividend payout ratio of about 35 percent of net profits in the 2012-14 period. Last year it paid 3.49 crowns on basic earnings per share of 11.64 crowns, a payout ratio of 30 percent.

Analysts have been predicting a 27-30 percent cut this year to 2.53-2.28 crowns, according to Thomson Reuters StarMine data.

But a number of analysts doubt that revenue from new products will be enough to secure revenue growth in 2015, compensating for lost revenue from Cipralex, Lexapro and Ebixa which together accounted for about 70 percent of group revenue in 2011.

Lundbeck is working on new products such as antidepressant Brintellix in Europe and the United States for launch at the end of next year or start of 2014, as well as alcohol dependency treatment Selincro in Europe in mid 2013.

“It is difficult to see revenue from the smaller products compensating for the large products,” said Hansen.

“They have a lot of new products in the portfolio and a lot of products in the pipeline, but revenue growth in 2015 is not very likely,” he said. ($ 1=5.6458 Danish crowns)

(Editing by Greg Mahlich)

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Obama sets Jan. deadline for proposals to curb gun violence

WASHINGTON (AP) — Spurred by a horrific elementary school shooting, President Barack Obama tasked his administration Wednesday with creating concrete proposals to reduce gun violence that has plagued the country.

"This time, the words need to lead to action," said Obama, who set a January deadline for the recommendations. He vowed to push for their implementation without delay.

The president, who exerted little political capital on gun control during his first term, also pressed Congress to reinstate an assault weapons ban, which expired in 2004. He also called for stricter background checks for people who seek to purchase weapons and limited high capacity clips.

"The fact that this problem is complex can no longer be an excuse for doing nothing," Obama said. "The fact that we can't prevent every act of violence doesn't mean we can't steadily reduce the violence."

Obama's announcement Wednesday underscores the urgency the White House sees in formulating a response to the shooting in Newtown, Conn. Twenty children and six adults were killed when a man carrying a military-style rifle stormed an elementary school.

The massacre has prompted several congressional gun rights supporters to consider new legislation to control firearms, and there is some concern that their willingness to engage could fade as the shock and sorrow over the Newtown shooting eases.

Obama said Wednesday it was "encouraging" to see people of different backgrounds and political affiliations coming to an understanding that the country has an obligation to prevent such violence.

Appealing to gun owners, Obama said he believes in the Second Amendment and the country's strong tradition of gun ownership. And he said "the vast majority of gun owners in America are responsible."

The president tasked Vice President Joe Biden with leading the administration-wide effort to create new gun control policies. Obama also wants his team to consider ways to improve mental health resources and address ways to create a culture that doesn't promote violence.

The departments of Justice, Education, Health and Human Services, and Homeland Security will all be part of the process.

Biden's prominent role in the process could be an asset for the White House in getting gun legislation through Congress. The vice president spent decades in the Senate and has been called on by Obama before to use his long-standing relationships with lawmakers to build support for White House measures.

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Shooting renews argument over video-game violence

WASHINGTON (AP) — In the days since the massacre at Sandy Hook Elementary School in Newtown, Conn., a shell-shocked nation has looked for reasons. The list of culprits include easy access to guns, a strained mental-health system and the “culture of violence” — the entertainment industry’s embrace of violence in movies, TV shows and, especially, video games.

“The violence in the entertainment culture — particularly, with the extraordinary realism to video games, movies now, et cetera — does cause vulnerable young men to be more violent,” Sen. Joe Lieberman, I-Conn., said.

“There might well be some direct connection between people who have some mental instability and when they go over the edge — they transport themselves, they become part of one of those video games,” said Gov. John Hickenlooper of Colorado, where 12 people were killed in a movie theater shooting in July.

White House adviser David Axelrod tweeted, “But shouldn’t we also quit marketing murder as a game?”

And Donald Trump weighed in, tweeting, “Video game violence & glorification must be stopped — it is creating monsters!”

There have been unconfirmed media reports that 20-year-old Newtown shooter Adam Lanza enjoyed a range of video games, from the bloody “Call of Duty” series to the innocuous “Dance Dance Revolution.” But the same could be said for about 80 percent of Americans in Lanza’s age group, according to the Pew Internet and American Life Project. Law enforcement officials haven’t made any connection between Lanza’s possible motives and his interest in games.

The video game industry has been mostly silent since Friday’s attack, in which 20 children and six adults were killed. The Entertainment Software Association, which represents game publishers in Washington, has yet to respond to politicians’ criticisms. Hal Halpin, president of the nonprofit Entertainment Consumers Association, said, “I’d simply and respectfully point to the lack of evidence to support any causal link.”

It’s unlikely that lawmakers will pursue legislation to regulate the sales of video games; such efforts were rejected again and again in a series of court cases over the last decade. Indeed, the industry seemed to have moved beyond the entire issue last year, when the Supreme Court revoked a California law criminalizing the sale of violent games to minors.

The Supreme Court decision focused on First Amendment concerns; in the majority opinion, Justice Antonin Scalia wrote that games “are as much entitled to the protection of free speech as the best of literature.” Scalia also agreed with the ESA’s argument that researchers haven’t established a link between media violence and real-life violence. “Psychological studies purporting to show a connection between exposure to violent video games and harmful effects on children do not prove that such exposure causes minors to act aggressively,” Scalia wrote.

Still, that doesn’t make games impervious to criticism, or even some soul-searching within the gaming community. At this year’s E3 — the Electronic Entertainment Expo, the industry’s largest U.S. gathering — some attendees were stunned by the intensity of violence on display. A demo for Sony’s “The Last of Us” ended with a villain taking a shotgun blast to the face. A scene from Ubisoft’s “Splinter Cell: Blacklist” showed the hero torturing an enemy. A trailer for Square Enix’s “Hitman: Absolution” showed the protagonist slaughtering a team of lingerie-clad assassins disguised as nuns.

“The ultraviolence has to stop,” designer Warren Spector told the GamesIndustry website after E3. “I do believe that we are fetishizing violence, and now in some cases actually combining it with an adolescent approach to sexuality. I just think it’s in bad taste. Ultimately I think it will cause us trouble.”

“The violence of these games can be off-putting,” Brian Crecente, news editor for the gaming website Polygon, said Monday. “The video-game industry is wrestling with the same issues as movies and TV. There’s this tension between violent games that sell really well and games like ‘Journey,’ a beautiful, artistic creation that was well received by critics but didn’t sell much.”

During November, typically the peak month for pre-holiday game releases, the two best sellers were the military shooters “Call of Duty: Black Ops II,” from Activision, and “Halo 4,” from Microsoft. But even with the dominance of the genre, Crecente said, “There has been a feeling that some of the sameness of war games is grating on people.”

Critic John Peter Grant said, “I’ve also sensed a growing degree of fatigue with ultra-violent games, but not necessarily because of the violence per se.”

The problem, Grant said, “is that violence as a mechanic gets old really fast. Games are amazing possibility spaces! And if the chief way I can interact with them is by destroying and killing? That seems like such a waste of potential.”

There are some hints of a sneaking self-awareness creeping into the gaming community. One gamer — Antwand Pearman, editor of the website GamerFitNation — has called for other players to join in a “Day of Cease-Fire for Online Shooters” this Friday, one week after the massacre.

“We are simply making a statement,” Pearman said, “that we as gamers are not going to sit back and ignore the lives that were lost.”

Gaming News Headlines – Yahoo! News

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'Constant reminder': Newtown holds third day of funerals

NEWTOWN, Conn. (AP) — For a third straight day Wednesday, funeral processions rolled through a grieving Connecticut town trying to make sense of the massacre of 20 first-graders and six adults in an elementary school less than two weeks before Christmas.

Dr. Joseph Young, an optometrist, said he has already been to one funeral and plans to attend two or three more.

"The first few days, all you heard was helicopters and now at my office all I hear is the rumble of motorcycle escorts and funeral processions going back and forth throughout the day," he said. "It's difficult. It's just a constant reminder."

Most students in Newtown went back to school Tuesday except those from Sandy Hook Elementary, where a gunman armed with a military-style assault rifle slaughtered the children and six teachers and administrators Friday. He also killed his mother at her home. If police know why, they have not said.

Students at Sandy Hook, which serves kindergarten through fourth grade, will resume classes in a formerly shuttered school in a neighboring community in January.

President Barack Obama on Wednesday pressed Congress to reinstate an assault weapons ban, which expired in 2004. He also called for stricter background checks for people who seek to purchase weapons and limited high capacity clips.

"This time, the words need to lead to action," said Obama, who set a January deadline for the recommendations.

In the meantime, mourners overlapped at back-to-back funerals that started Monday and will continue all week.

The first of Wednesday's funerals in Newtown was for 7-year-old Daniel Barden, a gap-toothed redhead and the youngest of three children whose family described him as "always smiling, unfailingly polite, incredibly affectionate, fair and so thoughtful towards others, imaginative in play, both intelligent and articulate in conversation: in all, a constant source of laughter and joy."

Hundreds of firefighters formed a long blue line outside St. Rose of Lima Catholic Church as bells sounded and bagpipes played. Daniel wanted to join their ranks one day, and many came from New York, where his family has relatives who are firefighters.

Family friend Laura Stamberg of New Paltz, N.Y., whose husband plays in a band with Daniel's father, Mark, said Daniel was a thoughtful boy who held doors for people and would sit with another child if he saw one sitting alone.

She said that on the morning of the shooting, Mark Barden played a game with his son and taught him a Christmas song on the piano.

"They played foosball and then he taught him the song and then he walked him to the bus and that was their last morning together," Stamberg said.

At the same time, in the town of Stratford, family and friends gathered to say goodbye to Victoria Soto, a 27-year-old teacher who has been hailed as a hero for dying while trying to shield her students, some of whom managed to escape.

"She had the perfect job. She loved her job," said Vicky Ruiz, a friend of Soto's since first grade. Every year, she said, Soto described her students the same way. "They were always good kids. They were always angels," even if, like typical first-graders, they might not always listen, Ruiz said.

Students Charlotte Bacon and Caroline Previdi were to be laid to rest later Wednesday, and calling hours were being held for popular 47-year-old principal Dawn Hochsprung. She and school psychologist Mary Sherlach rushed toward Lanza in an attempt to stop him and paid with their lives.

The massacre continued to reverberate around America as citizens and lawmakers debated whether Newtown might be a turning point in the often-polarizing national discussion over gun control.

Private equity firm Cerberus Capital Management announced Tuesday it plans to sell its stake in Freedom Group, maker of the Bushmaster rifle, following the school shootings. In Pittsburgh, Dick's Sporting Goods said it is suspending sales of modern rifles nationwide because of the shooting. The company also said it's removing all guns from display at its store closest to Newtown.

Lawmakers who have joined the call to consider gun control as part of a comprehensive, anti-violence effort next year included 10-term House Republican Jack Kingston, a Georgia lawmaker elected with strong National Rifle Association backing.

The National Rifle Association, silent since the shootings, said in a statement that it was "prepared to offer meaningful contributions to help make sure this never happens again." It gave no indication what that might entail.

And no indication has been made publicly about the motive of 20-year-old Adam Lanza, who, clad all in black, broke into Sandy Hook Elementary and opened fire on students and staff.

Authorities say the horrific events of Friday began when Lanza shot his mother, Nancy, at their home, and then took her car and some of her guns to the nearby school.

Investigators have found no letters or diaries that could explain the attack.

___

Zezima reported from Stratford. Contributing to this report were Associated Press writers Allen G. Breed, Helen O'Neill, John Christoffersen and Pat Eaton-Robb in Newtown; Michael Melia in Hartford; Larry Margasak in Washington and AP Business Writer Joshua Freed in Minneapolis.

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