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• This Week, Watch What Central Bankers Say, Not Do

  

  Central banking is in a state of flux as policymakers from Tokyo to Washington ditch prevailing orthodoxies to try to grab a bigger share of a slow-growing global economic pie.

• GLOBAL ECONOMY-Watch what central bankers say, not what they do

  LONDON, Feb 3- Central banking is in a state of flux as policymakers from Tokyo to Washington ditch prevailing orthodoxies to try to grab a bigger share of a slow-growing global economic pie.

• BAY STREET-Rich valuations pose risk to Canada insurer shares

  TORONTO, Feb 3- After ringing up share-price gains last year that led the market, Canada's life insurers look ripe for a setback even if they post blockbuster quarterly results over the next couple of weeks.

• RPT-Pentagon expands probe of troubled components on fighter jet-sources

  *Navy official wants to check company's quality practices. WASHINGTON, Feb 1- The Pentagon is inspecting other components of the F-35 fighter jet in addition to the faulty fuel lines blamed for the grounding of the Marine Corps version of the warplane, two sources familiar with the program said on Friday.

• UPDATE 2-Canada January auto sales dip but Detroit makers strong

  *Chrysler ousts Ford as No. 1 in sales in Canada in January. Feb 1- Auto sales in Canada slipped 2.2 percent in January, data showed on Friday, on weaker demand for European vehicles and strong comparable data from a year ago when Japan's automakers were rebounding from earthquake and tsunami disruptions.

• Blimps to bolster Washington's air shield in test

  *Raytheon "JLENS" program could get boost. NORAD, a binational command, is responsible for defending air space over the United States and Canada, including the Washington area with its many pieces of important infrastructure.

• UPDATE 1-Chrysler, Ford start 2013 with strong sales in Canada

  *Chrysler says it is No.1 in sales in Canada in Jan. Feb 1- Detroit automakers started off the year with strong sales in Canada, figures for January showed on Friday, helped by demand for fuel-efficient passenger cars, leaving vehicle manufacturers optimistic about the outlook for 2013..

• RPT-WRAPUP 2-Exxon, Chevron earnings boosted by refining margins

  HOUSTON/ SAN FRANCISCO, Feb 1- Renewed strength in refining and chemicals led to higher-than-expected fourth-quarter earnings for Exxon Mobil Corp and Chevron Corp, the two largest U.S. oil companies.

• Brookfield Office Properties 4Q FFO rises 5 pct

  NEW YORK-- Brookfield Office Properties Inc. said Friday that its fourth-quarter funds from operations rose 5 percent, beating Wall Street predictions, and issued a better-than-expected outlook for 2013..

• UPDATE 2-Imperial says Kearl oil sands cost rises by C$2 billion

  *Kearl budget rises by C $2 bln to C $12.9 bln. *Q4 EPS C $1.26/ shr vs year-earlier C $1.18/ shr. CALGARY, Alberta, Feb 1- Imperial Oil Ltd said on Friday the cost of its recently completed Kearl oil sands project in northern Alberta ballooned to C $12.9 billion, nearly 20 percent above its last estimate, because of transportation delays and a harsh winter.

• TREASURIES-Prices choppy as jobless rate up, manufacturing grows

  NEW YORK, Feb 1- Prices for U.S. The January ISM was quite encouraging for both output and employment prospects ahead, "said Andrew Wilkinson, chief economic strategist with Miller Tabak& Co. LLC.

• Regulators OK Michigan oil pipeline replacement

  TRAVERSE CITY, Mich.-- Regulators granted permission Thursday for Enbridge Inc. to finish replacing the underground pipeline that ruptured and spilled more than 800,000 gallons of oil into a southwestern Michigan river. It will extend through 10 Michigan counties: Berrien, Cass, St. Joseph, Kalamazoo, Calhoun, Jackson, Ingham, Oakland, Macomb and St. Clair.

• Senator says hemp would help Kentucky economy

  The utilization of hemp to produce everything from clothing to paper is real and if there is a capacity to center a new domestic industry in Kentucky that will create jobs in these difficult economic times, that sounds like a good thing to me. "

• UPDATE 1-Imperial says initial Kearl project to cost C$12.9 bln

  Feb 1- Imperial Oil Ltd said its final cost of initial development of the Kearl oilsands project in Alberta is expected to be C $12.9 billion, C $2 billion more than earlier projections, due to transportation delays and harsh weather.

• UPDATE 2-China approves HSBC sale of remaining $7.4 bln Ping An stake

  Payment for shares made in cash- HSBC. HONG KONG, Feb 1- China has approved the sale of HSBC's remaining $7.4 billion stake in Ping An Insurance to a group controlled by Thailand's richest man, allowing completion of the biggest equity purchase in the country by a foreign investor.

• UPDATE 1-China approves HSBC sale of remaining $7.5 bln Ping An stake

  HONG KONG, Feb 1- China has approved the sale of HSBC's remaining $7.5 billion stake in Ping An Insurance to a group controlled by Thailand's richest man, giving the green light to the country's biggest inbound M&A deal.

• INTERVIEW-G20 should focus on debts, not Japan-bashing - Russia

  *Don't rush to judgment on Japan- finance sherpa. MOSCOW, Feb 1- Russia's top financial diplomat said the Group of 20 should focus on making new commitments to curb borrowing, and not rush to judge Japan's bid to reflate its economy when policy makers meet this month.

• TREASURIES-Prices seesaw after US jobless and manufacturing data

  NEW YORK, Feb 1- Prices for U.S. The numbers were "quite encouraging for both output and employment prospects ahead," said Andrew Wilkinson, chief economic strategist with Miller Tabak& Co. LLC.

• PREVIEW-Canadian job market seen flat in January, jobless rate up

  *WHEN: Friday, Feb. 8 at 8:30 a.m. ( 1330 GMT. OTTAWA, Feb 1- Canada's labor market likely came back to earth in January after gravity-defying job gains in the final months of 2012, with analysts predicting almost no new hiring in the month and a rise in the unemployment rate.

• Best Buy to close 15 stores in Canada

  Best Buy said Thursday that it will close 15 of its stores in Canada and cut about 5 percent of its workforce in the country as it tries to revamp its strategy there. The retailer said that in the first phase of a long-term transformation, it will permanently close eight of its Future Shop stores and seven of its Best Buy stores.