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  • NEW YORK, Feb 11- Oil prices fell as much as 3 percent on Wednesday after U.S. stockpiles hit record highs, and analysts and traders said the market could shed more of the rebound seen over the past two weeks due to expectations of lower output. "It proves that the price retracement we had on the capital expenditure cuts and falling rig counts may have been premature,"...

  • UPDATE 10-Oil down as U.S. crude stocks continue surge Wednesday, 11 Feb 2015 | 1:25 PM ET

    "It proves that the price retracement we had on the capital expenditure cuts and falling rig counts may have been premature," said Gene McGillian, senior analyst at Tradition Energy in Stamford, Connecticut. Benchmark Brent oil was down $1.60 at $54.83 a barrel by 1:12 p.m. EST, after setting a session low at $53.91. U.S. crude was down 95 cents at $49.07, having slid...

  • Benchmark Brent oil was down $1.38 at $55.05 a barrel by 11:40 a.m. EST, hitting a session low of $53.91 earlier. U.S. crude posted a 70 cent decline to $49.32, after an intraday low of $48.05. Wall Street bank Goldman Sachs, one of the most influential voices in oil trading, reiterated its view on Wednesday that lower oil prices will be required over the coming...

  • UPDATE 8-Oil falls towards $54 on record-high U.S. stocks Wednesday, 11 Feb 2015 | 10:56 AM ET

    LONDON, Feb 11- Oil fell more than $2 on Wednesday towards $54 a barrel after U.S. crude stock piles hit record highs. U.S. commercial crude oil stock piles rose by 4.9 million barrels last week to 417.93 million barrels, their highest since records began in 1982, the government-run Energy Information Administration reported on Wednesday. Brent crude futures...

  • LONDON, Feb 11- Oil fell below $55 a barrel on Wednesday ahead of U.S. government data expected to show domestic crude stockpiles at all-time highs. U.S. crude traded at $48.89, down $1.13, having reached a high of $51.14 earlier in the session. Crude had come under pressure on Tuesday from International Energy Agency forecasts of continued supply growth in the...

  • LONDON, Feb 11- Oil fell towards $55 a barrel on Wednesday, under pressure from expectations of persisting oversupply in world markets and an industry report saying U.S. crude stocks rose further from a record high. The American Petroleum Institute said on Tuesday crude stocks increased by 1.6 million barrels last week. Crude had come under pressure on Tuesday...

  • LONDON, Feb 11- Oil slipped below $56 a barrel on Wednesday, pressured by expectations that oversupply in world markets would persist and an industry report saying U.S. crude stocks rose from a record high. Crude had come under pressure on Tuesday from International Energy Agency forecasts of continued supply growth in the United States to 2020 despite lower...

  • BEIJING, Feb 11- Brent crude held steady above $56 a barrel on Wednesday, and U.S. crude rose briefly more than $1, after a smaller than expected rise in U.S. crude stocks were viewed by some as a sign that a supply glut was starting to abate. Brent March crude futures had ticked down 13 cent to $56.30 by 0334 GMT, after losing $1.91 during the previous session on the IEA...

  • SEOUL, Feb 10- South Korea's new law compelling big companies to part with "excess" cash or be taxed on it is prompting traditionally tight-fisted Korea Inc to boost dividend payouts. Last year, South Korea announced plans to tax excessive corporate cash, a move aimed at getting companies to spend more on dividends, wages and investment. Big companies such as...

  • SEOUL, Feb 10- South Korea's new law compelling big companies to part with "excess" cash or be taxed on it is prompting traditionally tight-fisted Korea Inc to boost dividend payouts. Last year, South Korea announced plans to tax excessive corporate cash, a move aimed at getting companies to spend more on dividends, wages and investment. Big companies such as...

  • TOKYO, Feb 6- Japanese automakers are being forced to ship some car parts to U.S. plants by expensive air cargo and tweak production processes as a protracted labour dispute at U.S. West Coast ports shows no signs of letting up. Fuji Heavy Industries Ltd's Subaru, the fastest-growing brand in the United States, said this week that it now had to shoulder an extra 7...

  • WASHINGTON, Feb 5- U.S. lawmakers introduced legislation on Thursday to broaden sanctions against North Korea by imposing stiffer punishments on international companies that do business with Pyongyang. "Additionally, it presses the Administration to use all available tools to impose sanctions against North Korea and on countries and companies that...

  • WASHINGTON, Feb 5- U.S. lawmakers introduced legislation on Thursday to broaden sanctions against North Korea by imposing stiffer punishments on international companies that do business with Pyongyang, congressional committee aides told Reuters. The initiative, sponsored by both Republicans and Democrats, responds to concern in Congress about last...

  • SAN FRANCISCO, Feb 5- Apple Inc's healthcare technology is spreading quickly among major U.S. hospitals, showing early promise as a way for doctors to monitor patients remotely and lower costs. Fifteen of 23 top hospitals contacted by Reuters said they have rolled out a pilot program of Apple's HealthKit service- which acts as a repository for...

  • SEOUL, Feb 5- Hyundai Motor will in March unveil the first major makeover of its top-selling Tucson sports utility vehicle in six years in a bid to revive growth in key markets like Europe and the United States where SUV sales are now strong. Hyundai, which with affiliate Kia Motors is the world's fifth largest automaker, is also facing stiff competition from...

  • SAN FRANCISCO, Feb 5- Apple Inc's healthcare technology is spreading quickly among major U.S. hospitals, showing early promise as a way for doctors to monitor patients remotely and lower costs. Fourteen of 23 top hospitals contacted by Reuters said they have rolled out a pilot program of Apple's HealthKit service- which acts as a repository for...

  • *Uber seeking a way to operate legally in Sth Korea. SEOUL, Feb 5- South Korea on Thursday rejected online ride-sharing firm Uber Technologies Inc's proposal for a new driver registration system, and vowed to shut down the U.S. company's operations. Uber on Wednesday proposed a registration system to allow its drivers to operate legally in Asia's fourth-largest...

  • SEOUL, Feb 4- Online ride-service provider Uber Technologies Inc proposed on Wednesday a new registration system for its drivers in South Korea, seeking to overcome a ban on connecting passengers to private cars in Asia's fourth-largest economy. The changes flagged for South Korea have already been implemented in cities such as London, Los Angeles and New...

  • SEOUL, Feb 4- Online ride-service provider Uber Technologies Inc on Wednesday proposed a new registration system for its drivers in South Korea, seeking to overcome a ban on connecting passengers to private cars. David Plouffe, Uber's senior vice president of policy and strategy, told reporters in Seoul that the U.S.-based company wanted to work with...

  • *Oil price decline, slowing China also a concern. SEOUL, Feb 1- South Korea's exports in January fell less than expected, but effects from a plunge in oil prices, a sustained slump in Europe and slowdown in China all clouded prospects for a turnaround in global demand. "Europe holds the key for South Korean exports because exports by many countries including China...