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The observed D0 - anti-D0 oscillations provide a new stage in our search forNew Physics in heavy flavour dynamics. The theoretical verdict on the observedvalues of x_D and y_D remains ambiguous: while they could be totally generatedby Standard Model dynamics, they could also contain a sizable or even leadingcontribution from New Physics. Those oscillations are likely to enhance theobservability of CP violation as clear manifestations of New Physics. Wepresent general formulae for D0 - anti-D0 oscillations, concentrating on thecase of negligible direct CP violation. In particular we derive a generalformula for the time-dependent mixing-induced CP asymmetry in decays to a CPeigenstate and its correlation with the semileptonic CP asymmetry a_SL(D0) inD0(t) -> l nu K. We apply our formalism to the Littlest Higgs model withT-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 CKMdynamics. Comparisons with CP violation in the K and B systems offer anexcellent test of this scenario and reveal the specific pattern of flavour andCP violation in the D0 - anti-D0 system predicted by this model. We discuss anumber of charm decays that could potentially offer an insight in the dynamicsof CP violation in D decays. We also apply our formalism to B_s - anti-B_smixing.

CP Violation in D0 - anti-D0 Oscillations: General Considerations and Applications to the Littlest Higgs Model with T-Parity