Sony at greater risk than Panasonic in electronics downturn: Fitch

TOKYO (Reuters) - Panasonic Corp has a better chance than rival Sony Corp of surviving Japan's consumer electronics slump because of its unglamorous but stable appliance business of washing machines and fridges, credit rating agency Fitch said Friday.

Fitch cut Panasonic's rating by two notches to BB and Sony three notches to BB minus on Thursday, the first time one of the three major ratings agencies have put the creditworthiness of either company into junk-bond territory.

Rival agencies Moody's and S&P rate both of Japan's consumer electronic giants at the same level, just above junk status. Moody's last cut its rating on Panasonic on Tuesday.

Panasonic "has the advantage of a relatively stable consumer appliance business that is still generating positive margins", Matt Jamieson, Fitch's head of Asia-Pacific, said in a conference call on Friday to explain its ratings downgrades.

But at Sony, he added, "most of their electronic business are loss making, they appear to be overstretched."

Japan's TV industry has been bested by cheaper, more innovative models from Samsung Electronics and other foreign rivals, while tablets and smartphones built by Apple Inc have become the dominant consumer electronics devices.

Investors are focusing on the fate of Sony and Panasonic after another struggling Japanese consumer electronics firm, Sharp Corp, maker of the Aquos TV, secured a $4.6 billion bail-out by banks including Mizuho Financial Group and Mitsubishi UFJ Financial Group.

Sony and Panasonic have chosen divergent survival paths.

Panasonic, maker of the Viera TV, is looking to expand its businesses in appliances, solar panels, lithium batteries and automotive components. Appliances amount to around only 6 percent of the company's sales, but they generate margins of more than 6 percent and make up a big chunk of operating profit.

Sony, creator of the Walkman, is doubling down on consumer gadgets in a bid to regain ground from Samsung and Apple in mobile devices while bolstering digital cameras and gaming.

The latest downgrades will curtail the ability of both Japanese companies to raise money in credit markets to help fund restructurings of their business portfolios.

For now, however, that impact is limited, given the support Panasonic and Sony are receiving from their banks.

In October, Panasonic, which expects to lose $10 billion in the year to March 31, secured $7.6 billion of loan commitments from banks including Sumitomo Mitsui Financial Group and Mitsubishi UFJ, a financing backstop it says will help it avoid having to seek capital in credit markets.

Sony, which has forecast a full-year profit of $1.63 billion helped by the sale of a chemicals business to a Japanese state bank, announced plans to raise $1.9 billion through a convertible bond before the latest rating downgrade.

Thomson Reuters' Starmine structural model, which evaluates market views of credit risk, debt levels and changes in asset values gives Panasonic and Sony an implied rating of BB minus. Sharp's implied rating is three notches lower at B minus.

Standard & Poor's rates Panasonic and Sony at BBB, the second lowest of the investment grade, while Moody's Investors Service has them on Baa3, the lowest of its high-grade category. Moody's has a negative outlook for both firms while S&P sees a stable outlook for Panasonic and a negative one for Sony.

Stock markets in Japan were closed on Friday for a national holiday.

(Reporting by Tim Kelly; Editing by Mark Bendeich)

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Undefeated: No. 4 Ohio State over No. 20 UM, 26-21

COLUMBUS, Ohio (AP) — Ohio State doesn't get to play in a bowl game.

But the Buckeyes have a sweet victory to carry them through a cold winter.

Carlos Hyde ran for 146 yards and No. 4 Ohio State's defense shut out 20th-ranked Michigan in the second half to grab a bruising 26-21 win on Saturday, completing an improbable 12-0 season for the Buckeyes.

Almost no one — up to and including first-year head coach Urban Meyer — expected such a rapid turnaround for the Buckeyes, who were just 6-7 last season with a loss to their archrivals in a transitional year when they were facing heavy NCAA penalties. A month after Meyer took the job last November, they were socked with a bowl ban after this season — and still ran the table.

Ohio State (12-0, 8-0 Big Ten) is ineligible for a BCS national title but still has an outside shot at finishing No. 1 in the final Associated Press Top 25 if other contenders lose. Michigan (8-4, 6-2) will now await a minor bowl bid.

Drew Basil matched his season output with four field goals and the defense did the rest, forcing three turnovers in the second half.

It was played before 105,899, the largest crowd ever to witness "The Game" in Columbus.

Meyer and his players were mobbed by thousands of fans who flooded the field after the Buckeyes' ninth victory in the last 11 years in the rivalry (the 2010 win was later vacated by the sanctions).

"It'll go down as one of the great teams in Ohio State history," Meyer exulted after the game.

Hyde also ran for a touchdown. Braxton Miller completed 14 of 18 passes for 189 yards and a score to Corey Brown, who had eight catches for 95 yards.

The Buckeyes had already clinched the Big Ten's Leaders Division, but aren't allowed to play in next Saturday's conference title game. Michigan needed a win to capture a share of the Legends Division with Nebraska, which will meet Wisconsin for the championship.

Now, about Ohio State can hope for is every other top team in the nation — including the only other unbeaten, top-ranked Notre Dame — to lose and lose badly in the coming weeks. A team banned from the postseason has never finished No. 1 in the AP Top 25 poll, and the Buckeyes are not eligible for the Bowl Championship Series rankings or coaches' poll.

Michigan's Denard Robinson had a brilliant first half but was largely invisible in the second. He totaled 122 yards on 10 carries, but had lost 2 yards on his four carries after halftime.

Devin Gardner, the other half of Michigan's quarterback tandem, was 11 of 20 for 171 yards with an interception and a touchdown pass.

For the Buckeyes, the game will be remembered for the staunch defense played when most needed. Michigan had 26 plays for 219 yards in first half, then ran 21 plays for a net of 60 yards in the second.

For the Wolverines, there will be lingering questions for coach Brady Hoke, who wore short sleeves in the freezing temperatures — just like Woody Hayes used to during the 1960s and 1970s in the rivalry.

With his team ahead 21-20, Hoke called timeout on fourth and 2 near midfield on Michigan's first possession of the second half. Robinson then ran up the middle, but ran into linebacker Ryan Shazier for a two-yard loss.

That cost the Wolverines the lead as Ohio State drove to the Michigan 11 before settling for Basil's 28-yard field goal, putting the Buckeyes up 23-21.

The teams traded possessions and turnovers for the next 12 minutes. Robinson fumbled after Bradley Roby's helmet hit the ball on a tackle, with Nathan Williams recovering for the Buckeyes.

Early in the fourth quarter, Miller was sacked on third and 9 at the Michigan 28 and coughed up the ball to Frank Clark.

But in each case the other team didn't take advantage.

The Buckeyes drove to a second and 1 at the Michigan 4 but a sack and a high snap preceded Basil missing a 39-yard field goal attempt.

The Wolverines lost 2 yards on third and 1 and were forced to punt after Miller's fumble.

Ohio State did pick up points on its next chance after a turnover.

Gardner fumbled when hit by Johnathan Hankins with 8:19 left, with Travis Howard pouncing on the loose ball after several players had a shot at it. Taking over at the Wolverines' 10, the Buckeyes could not move the ball and were forced to settle for Basil's fourth field goal of the game, a 25-yarder with 6:26 remaining, for a 26-21 lead.

That matched Basil's production the entire season. He came into the game 4 for 6 on the year.

Gardner then tossed a floater that was intercepted by C.J. Barnett, ending the Wolverines final threat as Hyde carried the ball repeatedly and the Buckeyes played keep-away to the finish.

The Buckeyes, who were without captain and top quarterback-sacker John Simon, appeared to grab control early. They scored on the opening possession, with Miller's 52-yard, play-action pass to Devin Smith setting up Hyde's 3-yard plunge.

Michigan came right back and drove to the Ohio State 22 but on third and 8 Adolphus Washington — playing because Simon was out — stripped the ball as Gardner was passing, with Zach Boren recovering.

But the Wolverines forced a punt and then needed just three plays to cover 83 yards with Gardner tossing a short pass in front of the Michigan bench to Roy Roundtree, who straight-armed Barnett and sped down the sideline accompanied by teammate Drew Dileo. The 75-yard pass play was Michigan's longest of the season.

With Miller hitting all five of his passes, the Buckeyes were stymied by three penalties in four plays and had to settle for Basil's 41-yard field goal.

Brown muffed a punt catch that was recovered by Marvin Robinson for Michigan and the Wolverines were right back in business at the Ohio State 25. On the sixth play, Gardner kept for the short TD and a 14-10 lead.

Michigan took over at its own 25 with 90 seconds left. Robinson followed two fullbacks around left end for an eight-yard gain and it appeared Hoke might just be content with running out the clock. But on second down, Robinson followed a convoy around the right side. Ohio State defensive backs Christian Bryant and Travis Howard arrived at the exact same instant, colliding while Robinson popped free. He raced untouched the rest of the way on the 67-yard TD, the 91st touchdown he has accounted for in his glittering career to pass Chad Henne for the school record.

Between the first and second quarters, Ohio State honored its 2002 national championship team. After a highlight clip was shown to a roaring crowd, several players hoisted coach Jim Tressel to their shoulders and carried him out of the end zone.

No boos were heard, or else they were drowned out — even though it was Tressel's NCAA violations which will keep this year's unbeaten Buckeyes home in the postseason.

___

Follow Rusty Miller on Twitter: http://www.twitter.com/rustymillerap

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“Big Bang Theory” actress Mayim Bialik, husband divorcing

NEW YORK (Reuters) – “The Big Bang Theory” actress Mayim Bialik and her husband are divorcing after nine years of marriage, she said in a statement on her Facebook page.

Bialik, who starred in the 1990s sitcom “Blossom,” and Michael Stone have two sons together.

“Divorce is terribly sad, painful and incomprehensible for children,” Bialik, 36, said in the statement. “It is not something we have decided lightly.”

Bialik, a proponent of “attachment parenting” who authored a book on the subject that was published in September, said it “played no role” in the couple’s divorce.

Attachment parenting advocates the nurturing of strong bonds between parents and children, which can include extended breast-feeding and parents and children sleeping in the same bed until the children are as old as 7. A controversial Time magazine cover on the subject in May drew strong reactions across the United States.

“The main priority for us now is to make the transition to two loving homes as smooth and painless as possible,” Bialik wrote in the statement, which was posted to her Facebook page on Wednesday. “Our sons deserve parents committed to their growth and health and that’s what we are focusing on.”

“We will be OK,” the statement concludes.

Bialik is a former child star who appeared in the 1980s television series “Webster” and “The Facts of Life” before landing the title role in the coming-of-age television show “Blossom,” which ran from 1991 to 1995. The show was about a smart teenage girl whose parents have divorced and is learning about life.

The actress attended the University of California, Los Angeles, where she obtained a doctorate in neuroscience.

She met Michael Stone, a fellow graduate student, in calculus class, according to a description of her wedding she previously posted online.

In her most recent role on CBS comedy “The Big Bang Theory,” Bialik plays Amy Farrah Fowler, a neuroscientist who dates one of the two main stars of the show, the socially inept but brilliant physicist Sheldon Cooper.

(Reporting By Chris Francescani; Editing by Alex Dobuzinskis and Bill Trott)

Celebrity News Headlines – Yahoo! News

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AP PHOTOS: Simple surgery heals blind Indonesians

PADANG SIDEMPUAN, Indonesia (AP) — They came from the remotest parts of Indonesia, taking crowded overnight ferries and riding for hours in cars or buses — all in the hope that a simple, and free, surgical procedure would restore their eyesight.

Many patients were elderly and needed help to reach two hospitals in Sumatra where mass eye camps were held earlier this month by Nepalese surgeon Dr. Sanduk Ruit. During eight days, more than 1,400 cataracts were removed.

The patients camped out, sleeping side-by-side on military cots, eating donated food while fire trucks supplied water for showers and toilets. Many who had given up hope of seeing again left smiling after their bandages were removed.

"I've been blind for three years, and it's really bad," said Arlita Tobing, 65, whose sight was restored after the surgery. "I worked on someone's farm, but I couldn't work anymore."

Indonesia has one of the highest rates of blindness in the world, making it a target country for Ruit who travels throughout the developing world holding free mass eye camps while training doctors to perform the simple, stitch-free procedure he pioneered. He often visits hard-to-reach remote areas where health care is scarce and patients are poor. He believes that by teaching doctors how to perform his method of cataract removal, the rate of blindness can be reduced worldwide.

Cataracts are the leading cause of blindness globally, affecting about 20 million people who mostly live in poor countries, according to the World Health Organization.

"We get only one life, and that life is very short. I am blessed by God to have this opportunity," said Ruit, who runs the Tilganga Eye Center in Katmandu, Nepal. "The most important of that is training, taking the idea to other people."

During the recent camps, Ruit trained six doctors from Indonesia, Thailand and Singapore.

Here, in images, are scenes from the mobile eye camps:

Read More..

'Dallas' star Larry Hagman dies in Texas

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

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

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

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

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

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

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

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

Eden recalled late Friday shooting the series' pilot "in the frigid cold" on a Malibu beach.

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

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

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

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

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

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

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

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

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

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

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

Dallas Mayor Mike Rawlings said Saturday morning in a statement that Hagman's role as J.R. helped the city gain "worldwide recognition."

"Larry is a North Texas jewel that was larger than life and he will be missed by many in Dallas and around the world," Rawlings said.

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

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

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

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

He called his 2001 memoir "Hello Darlin': Tall (and Absolutely True) Tales about My Life."

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

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

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

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

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

Funeral plans had not been announced as of Saturday morning.

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

___

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

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Walmart protests draw crowds, shoppers largely unfazed

Dozens of local workers, and hundreds nationally, took advantage of Black Friday crowds and camera crews at major retailers like Walmart to call for wage increases.

But there was little evidence that the chanting disrupted holiday shoppers.

Steven Restivo, a spokesman for Wal-Mart Stores, said the chain had done its "best Black Friday event ever" despite protests organized by the United Food and Commercial Workers International Union in Chicago and other cities.

At a Walmart in Chicago's Chatham neighborhood on the south side, only one of the store's 500 employees took part in the demonstration, the Bentonville, Ark.-based retailer said. "Almost all the folks you'll see protesting today are not Walmart associates," Restivo said. "I guess you can't believe everything you read in a union press release."

According to the union, protests took place in Miami and Washington, D.C., with additional events planned at Midwestern and Southern stores.

Walmart has so far avoided a union presence, which has become cumbersome for competitors like Jewel-Osco and Dominick's Finer Foods. Those chains have been closing stores as Walmart has expanded locally.

Separately Friday, dozens of members of the Workers Organizing Committee of Chicago and its supporters marched from the Loop to the Magnificent Mile to demand a $15 minimum wage and union contracts for downtown workers. Organized on November 15, the union has about 150 members and has received financial support from Service Employees International Union, Action Now and Stand Up Chicago.

Deborah Sims, marching Friday, said she worked at Macy's for 12 years, eventually making $13 an hour, before losing her job during the recession. She was rehired last holiday season, but at $8.50 an hour, with no benefits.

Sims said she expects retailers to turn to younger, less-experienced workers because "$8.25 an hour is going to look good to them."

Macy's did not respond to a request for comment.

Peter Gill, a spokesman for the Illinois Retail Merchants Association, called the demand for a $15 minimum wage dangerous "because people are out looking for jobs and it's tough in this economy."

He explained that if retailers were forced to nearly double the starting hourly wage, "you're going to have to cut the number of employees."

Reuters contributed to this story.

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Witnesses chase, help cops catch purse-snatcher on Mag Mile

Strong-arm robbery charges have been filed against a purse snatcher who allegedly pushed a woman to the ground on the Mag Mile before being chased down and apprehended by two Good Samaritans, police said.

Richard D. Mendoza, 31, of the 1600 block of North Talman Avenue was charged this afternoon with strong-arm robbery and battery. Police said he is on parole and was wearing an electronic ankle bracelet at the time of the robbery.

The incident happened at about 8:19 a.m. when a 44-year-old woman was walking on the side walk eastbound on Erie Street when the purse snatcher approached her from behind, said Chicago Police News Affairs Officer Robert Perez.

The man, later identified as Mendoza, began choking her and grabbing her purse as the woman began struggling against him, Perez said. As he struggled for the woman's purse he knocked her to the ground, Perez said.

As they continued struggling, Mendoza kicked her several times and took the purse, Perez said.

As the incident was ending, two men who witnessed the attack ran after Mendoza as police were being called, Perez said.

He ran eastbound on Erie Street and threw the purse into a nearby alley, Perez said.

The men then saw Mendoza get into a taxi at the intersection of Michigan Avenue and Erie Street, police said.

As one of the Good Samaritans prevented the taxi from moving, the other man flagged down a passing police car that was responding to the robbery.

Mendoza was taken out of the taxi cab and brought back to where the incident happened and he was identified as the attacker. The woman's purse was retrieved, Perez said.

The woman was taken to Northwestern Memorial Hospital where her condition had stabilized, Perez said. The woman sustained bruising and swelling to her face and back of her head, Perez said.

Mendoza has 14 prior arrests and four prior convictions: one for armed robbery, one for strong-arm robbery and two residential burglaries, police said.

csadovi@tribune.com

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Sony at greater risk than Panasonic in electronics downturn: Fitch

TOKYO (Reuters) - Panasonic Corp has a better chance than rival Sony Corp of surviving Japan's consumer electronics slump because of its unglamorous but stable appliance business of washing machines and fridges, credit rating agency Fitch said Friday.

Fitch cut Panasonic's rating by two notches to BB and Sony three notches to BB minus on Thursday, the first time one of the three major ratings agencies have put the creditworthiness of either company into junk-bond territory.

Rival agencies Moody's and S&P rate both of Japan's consumer electronic giants at the same level, just above junk status. Moody's last cut its rating on Panasonic on Tuesday.

Panasonic "has the advantage of a relatively stable consumer appliance business that is still generating positive margins", Matt Jamieson, Fitch's head of Asia-Pacific, said in a conference call on Friday to explain its ratings downgrades.

But at Sony, he added, "most of their electronic business are loss making, they appear to be overstretched."

Japan's TV industry has been bested by cheaper, more innovative models from Samsung Electronics and other foreign rivals, while tablets and smartphones built by Apple Inc have become the dominant consumer electronics devices.

Investors are focusing on the fate of Sony and Panasonic after another struggling Japanese consumer electronics firm, Sharp Corp, maker of the Aquos TV, secured a $4.6 billion bail-out by banks including Mizuho Financial Group and Mitsubishi UFJ Financial Group.

Sony and Panasonic have chosen divergent survival paths.

Panasonic, maker of the Viera TV, is looking to expand its businesses in appliances, solar panels, lithium batteries and automotive components. Appliances amount to around only 6 percent of the company's sales, but they generate margins of more than 6 percent and make up a big chunk of operating profit.

Sony, creator of the Walkman, is doubling down on consumer gadgets in a bid to regain ground from Samsung and Apple in mobile devices while bolstering digital cameras and gaming.

The latest downgrades will curtail the ability of both Japanese companies to raise money in credit markets to help fund restructurings of their business portfolios.

For now, however, that impact is limited, given the support Panasonic and Sony are receiving from their banks.

In October, Panasonic, which expects to lose $10 billion in the year to March 31, secured $7.6 billion of loan commitments from banks including Sumitomo Mitsui Financial Group and Mitsubishi UFJ, a financing backstop it says will help it avoid having to seek capital in credit markets.

Sony, which has forecast a full-year profit of $1.63 billion helped by the sale of a chemicals business to a Japanese state bank, announced plans to raise $1.9 billion through a convertible bond before the latest rating downgrade.

Thomson Reuters' Starmine structural model, which evaluates market views of credit risk, debt levels and changes in asset values gives Panasonic and Sony an implied rating of BB minus. Sharp's implied rating is three notches lower at B minus.

Standard & Poor's rates Panasonic and Sony at BBB, the second lowest of the investment grade, while Moody's Investors Service has them on Baa3, the lowest of its high-grade category. Moody's has a negative outlook for both firms while S&P sees a stable outlook for Panasonic and a negative one for Sony.

Stock markets in Japan were closed on Friday for a national holiday.

(Reporting by Tim Kelly; Editing by Mark Bendeich)

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NHL cancels games through Dec. 14, All-Star game

NEW YORK (AP) — The NHL has called off all games through Dec. 14, plus the 2013 NHL All-Star Weekend scheduled for Jan. 26-27 in Columbus, Ohio.

The league made the announcement Friday, the 69th day of the NHL's lockout of its players.

The new cancellations come as little surprise. The two sides had an unproductive negotiating session on Wednesday that produced no movement to break an impasse over splitting more than $3 billion in revenue and also player contracts.

"We've identified what's important to players, but they seem to be so far at least unwilling to treat those concerns in a serious way," union head Donald Fehr said after the last round of talks, at which the union presented a new proposal to the league.

A total of 422 regular-season games, more than 34 percent of the season, have now been lost.

NHL Deputy Commissioner Bill Daly said losing the 2013 NHL All-Star Weekend in Columbus is "extremely disappointing."

"We feel badly for NHL fans and particularly those in Columbus, and we intend to work closely with the Blue Jackets organization to return the NHL All-Star events to Columbus and their fans as quickly as possible," Daly said in a statement Friday.

The Columbus Blue jackets, the club hosting the All-Star game and the skills competition, said fans with tickets to events on that weekend could receive refunds.

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AP PHOTOS: Simple surgery heals blind Indonesians

PADANG SIDEMPUAN, Indonesia (AP) — They came from the remotest parts of Indonesia, taking crowded overnight ferries and riding for hours in cars or buses — all in the hope that a simple, and free, surgical procedure would restore their eyesight.

Many patients were elderly and needed help to reach two hospitals in Sumatra where mass eye camps were held earlier this month by Nepalese surgeon Dr. Sanduk Ruit. During eight days, more than 1,400 cataracts were removed.

The patients camped out, sleeping side-by-side on military cots, eating donated food while fire trucks supplied water for showers and toilets. Many who had given up hope of seeing again left smiling after their bandages were removed.

"I've been blind for three years, and it's really bad," said Arlita Tobing, 65, whose sight was restored after the surgery. "I worked on someone's farm, but I couldn't work anymore."

Indonesia has one of the highest rates of blindness in the world, making it a target country for Ruit who travels throughout the developing world holding free mass eye camps while training doctors to perform the simple, stitch-free procedure he pioneered. He often visits hard-to-reach remote areas where health care is scarce and patients are poor. He believes that by teaching doctors how to perform his method of cataract removal, the rate of blindness can be reduced worldwide.

Cataracts are the leading cause of blindness globally, affecting about 20 million people who mostly live in poor countries, according to the World Health Organization.

"We get only one life, and that life is very short. I am blessed by God to have this opportunity," said Ruit, who runs the Tilganga Eye Center in Katmandu, Nepal. "The most important of that is training, taking the idea to other people."

During the recent camps, Ruit trained six doctors from Indonesia, Thailand and Singapore.

Here, in images, are scenes from the mobile eye camps:

Read More..