  The observed D0 - anti-D0 oscillations provide a new stage in our search for
New Physics in heavy flavour dynamics. The theoretical verdict on the observed
values of x_D and y_D remains ambiguous: while they could be totally generated
by Standard Model dynamics, they could also contain a sizable or even leading
contribution from New Physics. Those oscillations are likely to enhance the
observability of CP violation as clear manifestations of New Physics. We
present general formulae for D0 - anti-D0 oscillations, concentrating on the
case of negligible direct CP violation. In particular we derive a general
formula for the time-dependent mixing-induced CP asymmetry in decays to a CP
eigenstate and its correlation with the semileptonic CP asymmetry a_SL(D0) in
D0(t) -> l nu K. We apply our formalism to the Littlest Higgs model with
T-parity, using the time-dependent CP asymmetry in D -> K_S phi as an example.
We find observable effects at a level well beyond anything possible with CKM
dynamics. Comparisons with CP violation in the K and B systems offer an
excellent test of this scenario and reveal the specific pattern of flavour and
CP violation in the D0 - anti-D0 system predicted by this model. We discuss a
number of charm decays that could potentially offer an insight in the dynamics
of CP violation in D decays. We also apply our formalism to B_s - anti-B_s
mixing.
