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  • NEW YORK— Professional racecar driver Scott Tucker was arrested Wednesday on criminal charges accusing him of living the high life on the backs of millions of desperate people who used his payday lending operation to get quick cash over the Internet. Authorities said Tucker was arrested Wednesday in Kansas City, Kansas, and would initially appear in court in...

  • *Russia's Sechin floats idea of oil output cuts. NEW YORK, Feb 10 (Reuters)- U.S. oil prices fell on Wednesday, reversing an early rally, and Brent also pared gains as worries about the global supply glut offset encouraging U.S. government data showing a surprise drop in domestic crude stockpiles. "We believe there's been short covering on the headline and we feel we...

  • NEW YORK, Feb 10- Stock indexes worldwide rebounded on Wednesday after concerns eased about the banking sector and Federal Reserve Chair Janet Yellen said the U.S. central bank has plenty of flexibility to adjust monetary policy if needed. Yellen's testimony to Congress boosted sentiment. "What Yellen said has been taken positively," said Richard Sichel, chief...

  • Iran's oil minister said Tehran was ready to negotiate with Saudi Arabia and Kremlin oil tsar Igor Sechin proposed producing countries cut output by 1 million barrels per day- without saying whether non- OPEC member Russia would do so. While traders and delegates from OPEC doubt any deal between the group and rival producers- which would be the first in over a...

  • *Health Ministry considering increasing prices of finished drugs. CAIRO, Feb 10- Nahed Ibrahim has scoured Egypt in vain to find a regular supply of medication to help her mother to recover from a stroke she suffered four months ago, since then the 75- year-old has struggled to follow conversations. A weaker currency has also made it more expensive to import raw...

  • Iran's oil minister said Tehran was ready to negotiate with Saudi Arabia and the Kremlin's oil tsar Igor Sechin proposed producing countries reduce output by 1 million barrels per day- without saying whether non- OPEC member Russia would cut. While traders and delegates from OPEC doubt any deal between the group and rival producers- which would be the first in...

  • Firewall pioneer Kramer bets on shift to cloud security Wednesday, 10 Feb 2016 | 6:22 AM ET

    *Remains largest shareholder in California- based Imperva. TEL AVIV, Feb 10- Check Point Software Technologies co-founder Shlomo Kramer, a pioneer of efforts to protect businesses from cyber attacks, is betting on security in the cloud as the sector's next big development. After leaving Check Point in 1998, Kramer has used his fortune to establish and finance an...

  • *Other sectors monitoring case for guidance on pricing methods. BRUSSELS, Feb 10- Leading shipping container groups Maersk, MSC and 13 other companies have offered to change their pricing practices to settle an EU antitrust probe and stave off possible fines, two people familiar with the matter said on Wednesday. The European Commission opened an...

  • *Iran says open to cooperation with Saudi Arabia. LONDON, Feb 10- Oil rose towards $31 a barrel on Wednesday after four days of declines, supported by the prospect of OPEC and rival producers cooperating to tackle a supply glut that has sent prices to a 12- year low. Iran's oil minister said Tehran was ready to negotiate with Saudi Arabia and the Kremlin's oil tsar...

  • UPDATE 1-Russia's Sechin floats idea of oil output cuts Wednesday, 10 Feb 2016 | 5:15 AM ET

    *Says oil price drop driven by OPEC decision. Oil prices have slumped more than 70 percent to near $30 a barrel over the past 18 months as supply exceeded demand by up to 2 million bpd after OPEC, seeking to drive higher-cost producers out of the market, decided not to cut production. Struggling oil-producing countries have urged OPEC leader Saudi Arabia in recent...

  • Wix.com reports 4Q loss Wednesday, 10 Feb 2016 | 5:02 AM ET

    TEL AVIV, Israel _ Wix.com Ltd. on Wednesday reported a loss of $11.3 million in its fourth quarter. The average estimate of seven analysts surveyed by Zacks Investment Research was for a loss of 17 cents per share. For the current quarter ending in April, Wix.com said it expects revenue in the range of $73 million to $74 million.

  • *Iran says open to cooperation with Saudi Arabia. SINGAPORE, Feb 10- Crude oil prices pushed higher on Wednesday after Iran said it was open to cooperation with Saudi Arabia, partly recovering from an 8 percent fall in the previous session on concerns over demand and weak equities. Prices were supported by comments from Iran's oil minister that Tehran is ready to...

  • *Iran says open to cooperation with Saudi Arabia. SINGAPORE, Feb 10- Crude oil prices pushed higher on Wednesday after Iran said it was open to cooperation with Saudi Arabia, partly recovering from an 8 percent fall in the previous session led by concerns over demand and weak equities. Prices were supported by comments from Iran's oil minister that Tehran is ready...

  • NYMEX-Crude oil rebounds after steep selloff Tuesday, 9 Feb 2016 | 8:18 PM ET

    *U.S. crude for March delivery was 47 cents higher at $28.41 a barrel by 0113 GMT. *The front-month Brent contract was 50 cents higher at $30.82 a barrel, after it had closed $2.56, or 7.8 percent, down on Tuesday. *Meanwhile, the International Energy Agency predicted the world will store unwanted oil for most of 2016 as declines in U.S. output take time and that OPEC is...

  • The rout in oil prices since 2014 has hurt banks that made loans to oil and gas companies across the United States. At a conference on Tuesday ahead of the downgrade, senior executives at Comerica Inc estimated it would need to set aside an additional $75 million to $125 million in loan-loss reserves over the course of a year if oil prices remain at $30 per barrel.

  • CHICAGO, Feb 9- Bunge Ltd has launched legal proceedings against Egypt's state grain buyer over a rejected cargo of French wheat, highlighting uncertainty among suppliers who are already charging a risk premium to the world's largest wheat importer. Egypt, which buys wheat to provide its poorest citizens with bread, has in recent weeks fueled confusion in the...

  • UNITED NATIONS, Feb 9- A U.N.-blacklisted North Korean shipping company continues to evade sanctions through its use of foreign-flagged ships, name changes and other means of obfuscation, according to a new report by United Nations monitors. The U.N. Security Council's Panel of Experts on North Korea, which monitors implementation of sanctions on Pyongyang,...

  • *Saudi labor ministry issues statement on unpaid wages. DUBAI, Feb 9- Some Saudi Arabian construction companies are struggling to pay their staff on time in a sign of growing pressure on the economy from low oil prices, which are causing the government to slow spending on building projects. In an unusual move this week, the Ministry of Labour issued a public...

  • We must all get used to a certain type of lifestyle that does not rely entirely on the state, " Saudi Arabia's ruler warned. In fact they were spoken almost two decades earlier by Crown Prince Abdullah, the kingdom's de facto regent, at the Gulf Cooperation Council summit held in Abu Dhabi on Dec. 8, 1998. Oil revenues have been fundamental in shaping the modern state...

  • MUMBAI, Feb 9- Russia's top oil producer Rosneft is still carrying out due diligence to buy a stake in Essar Oil Ltd, the Indian group which runs India's second biggest private sector refinery said on Tuesday. Last week, Bloomberg reported that the company was in talks with Saudi Arabia's biggest oil company Saudi Aramco and National Iranian Oil Company to sell a...