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  • NEW YORK, Oct 15- Saudi Arabia effectively started a global oil price war this month aimed at quickly denting U.S. oil output. At stake is not just the fate of a U.S. drilling frenzy that has transformed the North American energy picture and powered the U.S. economy, but the shape of the global market as OPEC leader Saudi Arabia hopes to claw share from U.S. producers.

  • Brent recovers above $85 after biggest fall in three years Wednesday, 15 Oct 2014 | 12:55 AM ET

    *OPEC shows no sign of cutting output to defend oil prices. SINGAPORE, Oct 15- Brent edged higher above $85 a barrel on Wednesday, recovering from its biggest daily fall in three years, a drop that pushed prices to the lowest since late 2010 as traders scrambled to keep up with the downward momentum. Comments from core OPEC members, including Saudi Arabia, Kuwait and...

  • SHANGHAI, Oct 15- Chinese stock markets rose on Tuesday, with major indexes lifted by airline stocks and pharmaceuticals, but analyst said sentiment remained cautious given signs of continued pressure on producer pricing power and weakness in overseas markets. The CSI300 index of the largest Shanghai and Shenzhen A-share listings was up 0.6 percent, while...

  • SEOUL, Oct 15- South Korea's central bank slashed its policy interest rate for the second time in three months on Wednesday to match its record low and gave no clear signal that its easing cycle had ended- keeping the door open for another cut. Bond prices rose modestly as Wednesday's decision had been widely expected, with the anticipated tightening in U.S....

  • MOSCOW, Oct 15- The presidents of Russia and Ukraine, Vladimir Putin and Petro Poroshenko, have discussed possible measures to restore peace to east Ukraine, the Kremlin said in a statement late on Tuesday. Russia's Gazprom cut gas supplies to Ukraine in June after Kiev failed to pay its gas debts. Europe gets a third of its gas needs from Russia, with around a half...

  • RUSSIA'S PUTIN, UKRAINE'S POROSHENKO DISCUSS POSSIBLE MEASURES TO PEACEFULLY RESOLVE SITUATION ON UKRAINE'S EAST- KREMLIN.

  • Wal-Mart to offer digital movie access to customers Wednesday, 15 Oct 2014 | 12:01 AM ET

    Oct 15- Wal-Mart Stores Inc is launching a new service for customers to access digital copies of movies they buy at its stores and website across all platforms. About 800 movies available at Walmart stores and 1,100 on walmart.com will be a part of the program at the launch, the company said. InstaWatch, which can be accessed via the Wal-Mart app, will enable a user to...

  • CHICAGO, Oct 15- A leading U.S. pork association will use an online marketing campaign to counter a critical television documentary on antibiotics use in livestock, pointing consumers to industry-funded websites that defend the practice, according to an association email. "The industry will tie any consumer searches for' PBS Frontline' and' Antibiotics' to the...

  • Oct 14- Manuel Medina-Mora, head of Citigroup Inc's consumer banking and chairman of the company's troubled Mexico unit, is preparing to leave in the coming months, the Wall Street Journal reported, citing people with knowledge of the situation. Citigroup said on Tuesday it is pulling out of consumer banking in 11 markets, including Japan and Egypt, as the U.S. bank...

  • Citi's consumer banking head plans to leave - WSJ Tuesday, 14 Oct 2014 | 11:25 PM ET

    Oct 14- Manuel Medina-Mora, head of Citigroup Inc's consumer banking and chairman of the company's troubled Mexico unit, is preparing to leave in the coming months, the Wall Street Journal reported, citing people with knowledge of the situation. Citigroup representatives did not immediately respond to an email seeking comment outside regular U.S. business...

  • TOKYO, Oct 15- Japanese government bond yields slipped on Wednesday, with the 10- year yield falling to 1 1/ 2- month low, in smpathy with the fall in global bond yields on concerns over a slowdown in the world economy. The 10- year JGB yield dipped 0.5 basis point to 0.485 percent, matching a trough hit in late August. JGB players widely expect the auction to go...

  • *China inflation data leaves room for more stimulus. SYDNEY, Oct 15- London copper hovered near its highest in four weeks on Wednesday, supported by a growing consensus that a market surplus will be delayed until next year, although a stronger dollar pressured prices. But with demand from the world's top consumer remaining tepid, copper prices were seen stranded...

  • BOSTON, Oct 14- Three Google Inc researchers have uncovered a security bug in widely used web encryption technology that they say could allow hackers to take over accounts for email, banking and other services in what they have dubbed a "Poodle" attack. "If Shellshock and Heartbleed were Threat Level 10, then Poodle is more like a 5 or a 6," said Tal Klein, vice...

  • TOKYO, Oct 15- Japan's Nikkei share average staged a modest rebound on Wednesday after a five-day losing streak, but concerns about a loss of momentum in the global economy after fresh evidence of fall in German business sentiment limited gains. It's a natural rebound, "said Takashi Hiroki, chief strategist at Monex in Tokyo. Denso climbed 2.3 percent while...

  • TOKYO, Oct 15- Asian stocks were cautiously up on Wednesday as benign inflation data in China and more gloom in the euro zone economy lent credence to fears of a faltering global economic recovery. "Problems in Europe are an ongoing headwind for other major economies including the US, and China is a negative for world growth." Data showing China's consumer...

  • SEOUL, Oct 15- South Korea's central bank cut its policy interest rate for the second time in three months on Wednesday to spur the flagging economy, in line with the market's expectations, but many analysts see slim chances of further easing. "The decision by the Bank of Korea to lower its policy rate shows that the central bank has harmonised its policy with the...

  • TOKYO, Oct 15- Russia has proposed to Tokyo building a natural gas pipeline connecting fields in its far east with northern Japan, the Nikkei newspaper reported on Wednesday. An official in Japan's Ministry of Economy, Trade and Industry involved in gas and oil denied Tokyo had received an offer from Russia, when contacted by Reuters. Moscow and Tokyo have been...

  • BEIJING, Oct 15- China's annual consumer inflation slowed more than expected to 1.6 percent in September, a level not seen since January 2010, further evidence that the world's second-largest economy is cooling but giving more room to policymakers to stimulate growth if needed. Analysts polled by Reuters had expected annual consumer inflation to ease to 1.7...

  • METALS-Copper near four-week top, supply side in focus Tuesday, 14 Oct 2014 | 9:45 PM ET

    SYDNEY, Oct 15- London copper hovered near its highest in four weeks on Wednesday, supported by a growing consensus the metal will be in a supply deficit this year, however a stronger dollar kept a lid on gains. *Three-month copper on the London Metal Exchange slipped by 0.2 percent to $6,786.75 a tonne by 0119 GMT, after a 1.4 percent gain in the previous session when...

  • *Police arrest 45 in toughest operation in more than a week. *China will give no ground to protesters- sources. HONG KONG, Oct 15- Hong Kong police arrested 45 pro-democracy protesters in the early hours of Wednesday, using pepper spray on those who resisted, as they cleared a major road in the Asian financial centre that had been barricaded with concrete slabs.