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  • 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...

  • RIO DE JANEIRO, Feb 11- At least three oil workers were killed and others were injured in an explosion on Wednesday at an offshore oil and natural gas platform in Brazil operated by state-run energy company Petroleo Brasileiro SA, union officials said. The workers were killed in an explosion aboard the Cidade de São Mateus, a floating oil production, storage and...

  • WASHINGTON, Feb 11- The United States on Wednesday launched a legal challenge to Chinese export subsidies supporting billions of dollars of exports across a wide swathe of industries from steel to shrimp. The request for consultations, lodged on Wednesday, is the first step in a World Trade Organization dispute. "We are equally committed to the decisive,...

  • MEXICO CITY, Feb 11- America Movil's planned spinoff of cellphone towers in Mexico into a new company is at an advanced stage and should be up and running by May or June of this year, Chief Executive Daniel Hajj said on Wednesday. Hajj added that America Movil, Latin America's biggest telecommunications company, was discussing with Mexico's telecoms regulator...

  • Belgian judge withdraws arrest threat for HSBC directors Wednesday, 11 Feb 2015 | 12:51 PM ET

    BRUSSELS, Feb 11- HSBC has offered to co-operate with Belgian authorities and as a result a judge has withdrawn his threat to issue international arrest warrants against senior directors of its Swiss private banking arm, Brussels prosecutors said on Wednesday. The Belgian judge has charged the HSBC unit with tax fraud and money laundering, accusing it of...

  • European shares pegged back by Greek angst Wednesday, 11 Feb 2015 | 12:41 PM ET

    *Capital concerns weigh on UniCredit. LONDON/ PARIS, Feb 11- European shares slipped on Wednesday, with investors uneasy over how euro zone ministerial meetings on Greece's debt crisis will pan out, while a fall in UniCredit weighed on bank stocks. "The big disappointment majors on capital," said Jefferies equity analyst Joseph Dickerson, commenting on UniCredit.

  • *Kiev says 19 soldiers killed in assaults near Debaltseve. MINSK/ DONETSK, Ukraine, Feb 11- The leaders of France, Germany, Russia and Ukraine began peace talks in Belarus on Wednesday, while in Ukraine pro- Moscow separatists tightened the pressure on Kiev by launching some of the war's worst fighting. Fighting has already killed more than 5,000 people, and...

  • WASHINGTON, Feb 11- The Federal Housing Administration is not putting its finances at risk by reducing insurance fees it charges lower-income home buyers, the top U.S. housing official said on Wednesday. "Our actions maintain a careful balance between strengthening our fund and advancing our mission," Housing and Urban Development Secretary Julian Castro, who...

  • NEW YORK, Feb 11- Pennsylvania Governor Tom Wolf on Wednesday proposed a new 5 percent severance tax on the state's booming natural gas extraction industry, a turnabout from his Republican predecessor who opposed such a tax. Like other public schools in Pennsylvania, Caln gets about 30 percent of its funding from the state. Wolf noted that Pennsylvania ranks...

  • RIO DE JANEIRO, Feb 11- An accident at an offshore oil platform in an oilfield belonging to state-run oil company Petrobras has injured several people, local radio station CBN reported on Wednesday. The offshore floating oil production ship is called Cidade Sao Mateus and is located off the coast of Brazil near Vitoria, the capital of Espirito Santo state,...

  • NEW YORK/ BOSTON, Feb 11- Security experts are warning healthcare and insurance companies that 2015 will be the "Year of the Healthcare Hack," as cybercriminals are increasingly attracted to troves of personal information held by U.S. insurers and hospitals that command high prices on the underground market. "People feel that this will be the year of medical...

  • Feb 11- American Airlines Group Inc said Wednesday that it will launch newly acquired Boeing Co 787 Dreamliners into service to Beijing, China, and Buenos Aires, Argentina, from its Dallas hub beginning on June 2 and June 4, respectively. The world's largest airline will also use the Dreamliner on a route between Dallas and Chicago beginning May 7 as a warm-up...

  • 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...

  • Feb 11- Canadian fuel cell maker Ballard Power Systems Inc's shares soared 63 percent after it said Volkswagen AG would pay more than $80 million to buy some patents and extend a service contract. Ballard said on Wednesday it would sell to the German carmaker the automotive-related portion of the fuel cell patents it had bought from United Technologies Corp...

  • NEW YORK, Feb 11- Thomson Reuters Corp on Wednesday reported quarterly earnings that missed analysts forecasts, sending its shares lower even as the news and information company forecast a return to organic revenue growth. Both adjusted fourth quarter profit and revenue missed analysts' forecasts as a strengthening U.S. dollar took its toll on Thomson...

  • After stroke, clot removal saves brain function - studies Wednesday, 11 Feb 2015 | 12:00 PM ET

    The two studies used devices made by Covidien, which was acquired by Medtronic PLC last month and helped pay for one of the trials. Stryker Corp and privately-held Penumbra Inc also manufacture devices approved for clot removal. Patrick Lyden, director of the Stroke Program at Cedars-Sinai Medical Center in Los Angeles, who was not involved in the studies.

  • Austria requests tax data from France in HSBC case Wednesday, 11 Feb 2015 | 11:56 AM ET

    VIENNA, Feb 11- Austria has asked France to hand over tax data on clients linked with Austria after HSBC Holdings Plc admitted failings in compliance at its Swiss private bank. France has had access to leaked HSBC client data since around the end of 2008, according to the International Consortium of Investigative Journalists, which coordinated the release of...

  • Insurers are benefiting from increased number of patients, aided by an expansion of Medicaid, a federal health insurance program for lower-income people that is administered by the states, under Obamacare. WellCare members under the Medicaid health plans increased 31 percent to 2.3 million in the fourth quarter ended Dec. 31, helped by additions in Florida,...

  • Portugal sold 1.25 billion euros in 10- year bonds at record low auction yields. "Portugal did a great job decoupling itself from Greece," said Jean-Francois Robin, head of rates strategy at Natixis. "The macroeconomic situation, the debt sustainability in Portugal doesn't deserve comparison with Greece.

  • BRUSSELS, Feb 10- One goal for U.N. climate talks is to stop industry fleeing Europe to escape regulatory costs, a Dow Chemical director said on Wednesday, adding there was no need to intervene in the EU carbon market to drive up prices. The European Union has sought to lead efforts to curb greenhouse gas emissions with its Emissions Trading System, the world's...