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• 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.

• On the Call: Chevron CEO John Watson

  Chevron Corp., the second largest U.S. oil and gas company, posted a sharp increase in earnings for the fourth quarter on higher production, better refinery performance, and a gain from an asset swap that increased the company's position in a gas field in Australia. Fourth quarter net income jumped 41 percent to $7.2 billion on revenue of $60.6 billion.

• UPDATE 1-Chevron profit rises on refining gains, asset swap

  *Q4 earnings per share ex-items $3.27 vs Street view $3.03. The second-largest U.S. oil producer said fourth-quarter net income rose to $7.2 billion, or $3.70 per share, from $5.1 billion, or $2.58 per share, a year earlier.

• Australia protests to Japan about whaling ship

  CANBERRA, Australia-- A support vessel for the Japanese whaling fleet is sailing in Australian waters in pursuit of anti-whaling activists, Australia said after protesting to the Tokyo government.

• Analyst says US wine production, consumption up

  SACRAMENTO, Calif.-- U.S. residents now make up the largest wine market in the world, consuming 13 percent of all that's produced globally, according to an analyst who spoke Wednesday at a major wine industry gathering. Bulk wine imports from Argentina helped slake the thirsts of U.S. consumers, followed by Chile and Australia.

• Rio Tinto faces tough talks in Mongolia over giant mine

  *Mongolia concerned about soaring project costs at Oyu Tolgoi. *Mongolia looks to step up state ownership, taxes on mines. ULAN BATOR/ MELBOURNE, Feb 1- Rio Tinto faces tough negotiations next week in Mongolia, where the government is under pressure to plug a budget deficit and increase its share of the wealth from the $6.2 billion Oyu Tolgoi copper and gold mine.

• UPDATE 2-Brent climbs towards $116 on Mideast tensions

  *China official PMI slightly lower than expected. SINGAPORE, Feb 1- Brent crude climbed towards $116 a barrel on Friday, its highest level in more than three months, as escalating tension in the Middle East stoked supply worries. Brent had risen 23 cents to $115.78 a barrel by 0737 GMT, after an earlier high of $115.91 marking its highest since mid-October.

• GLOBAL MARKETS-Asian shares steady; regional PMI data dampens mood

  *MSCI Asia ex- Japan steady. European markets are likely to inch higher, with financial spreadbetters predicting London's FTSE 100, Paris's CAC-40 and Frankfurt's DAX would open up as much as 0.2 percent.

• COLUMN-China oil imports likely to rise more in second half: Clyde Russell

  LAUNCESTON, Australia, Feb 1- The easy thing to predict about China's crude oil imports this year is that they will be higher than in 2012, the trickier question is by exactly how much.

• UPDATE 1-Brent climbs above $115 on Mideast tensions, but China data drags

  *China official PMI slightly lower than expected. SINGAPORE, Feb 1- Brent crude hovered on Friday above $115 a barrel, its highest level in more than three months, as escalating tension in the Middle East stoked supply worries. Brent had risen 27 cents to $115.82 a barrel by 0552 GMT, after an earlier high of $115.91 marking its highest since mid-October.

• Brent hits more than 3-mth high, above $115 on Mideast tensions

  *China official PMI slightly lower than expected. SINGAPORE, Feb 1- Brent crude hit its highest in more than three months on Friday and held above $115 a barrel as escalating tension in the Middle East stoked supply worries. But disappointing economic data from China, the world's second largest oil consumer, capped gains.

• FOREX-Downtrodden yen sees no relief; euro pushes higher

  SINGAPORE/ SYDNEY, Feb 1- The yen hit multi-year lows against its G3 peers on Friday, having posted its biggest monthly decline in 12 years versus the euro as the market positioned for more aggressive easing from the Bank of Japan.

• FOREX-Downtrodden yen sees no relief; China data in focus

  SYDNEY, Feb 1- The yen plumbed fresh multi-year lows against its G3 peers on Friday, having posted its biggest monthly decline in 12 years versus the euro as the market positioned for more aggressive easing from the Bank of Japan.

• UPDATE 1-US ban on LNG exports would violate WTO rules - experts

  WASHINGTON, Jan 31- The United States would violate global trade rules and damage its credibility if it decides to subsidize steel, chemical and other manufacturers by restricting exports of liquefied natural gas after years of pressing other countries like China to drop restrictions on natural resource exports, experts said.

• US ban on LNG exports would violate WTO rules - experts

  WASHINGTON, Jan 31- A U.S. government decision to subsidize steel, chemical and other manufacturers by restricting exports of liquefied natural gas would violate global trade rules and damage U.S. credibility after years of pressing other countries like China to drop restrictions on natural resource exports, experts said.

• Bob Charles admits using deer-antler spray

  WELLINGTON, New Zealand-- Former British Open winner Bob Charles of New Zealand says he used and promoted a banned deer-antler spray for more than 20 years and is surprised to learn it contains a substance that violates golf's doping protocols. The 1963 Open winner was a spokesman for the deer-antler product and used it daily over two decades.

• Australian opposition leader warns of second election

  CANBERRA, Jan 31- Australia faces a possible fourth straight year of political instability after opposition leader Tony Abbott, on track to win power in a September election, threatened a second poll if a hostile upper house rejects his plan to scrap a tax on carbon.

• UPDATE 1-PIMCO'S Gross sees U.S. economy on road to extinction

  The level of credit needed to spur economic growth has grown five-fold since the 1980 s, said Gross, who is a founder and co-chief investment officer of Pacific Investment Management Co. He likened the need for more and more government stimulus to produce ever-diminishing rates of growth to Japan's experience over the past decade.

• EXCLUSIVE-Citigroup may exit consumer banking in more countries

  *Citi is in 100 countries, with consumer banking in 40. NEW YORK, Jan 31- Citigroup Inc is looking to pull out of consumer banking in more countries in an effort to lower costs and boost profits, according to two people familiar with the matter.

• COLUMN-Iran's cat and mouse game over oil is far from ended: Clyde Russell

  LAUNCESTON, Australia, Jan 31- Iran appears to have scored a victory in its cat and mouse battle with the West, with oil exports rising in December to the highest since European sanctions took effect. Much of Iran's success has been due to its ability to maintain shipments to two of its largest Asian customers, namely China and India.