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Weakened typhoon out at sea after pounding Japan

TOKYO, Aug 3 (Reuters) A sharply weakened Typhoon Usagi churned north over the Sea of Japan today after cutting across Japan's southernmost main island of Kyushu, injuring 18 people.

Usagi, the second large storm to hit Japan in less than a month, was downgraded to a tropical storm by international standards, but forecasters warned that it could still bring heavy rain to Niigata prefecture in northwestern Japan, which was struck by a deadly earthquake last month.

The storm was roughly 10 km northwest of the city of Izumi, some 600 km west of Tokyo, as of 9:00 a.m. (0530 IST), the Japan Meteorological Agency said.

It had winds gusting up to 126 km an hour and was heading north at 30 km an hour.

''The storm is expected to curve east and may bring heavy rain to Niigata tomorrow, so people have to be alert for the chances of landslides and other damage,'' a Meteorological Agency official said.

One of the injured was a 42-year-old man who sustained head injuries after falling from a roof.

Last month, Typhoon Man-yi struck Kyushu and killed three people, injured more than 70 and flattened several houses.

REUTERS AK BST0750

Oil near record highs; OPEC says no output rise

SINGAPORE, Aug 3 (Reuters) Oil hovered near 77 dollar a barrel on Friday, keeping in sight of this week's fresh record high after OPEC officials poured cold water on U.S. hopes for an output rise, reiterating that the world was not short of crude supplies. U.S. oil was unchanged at .86 a barrel by 0256 GMT after rising 33 cents on Thursday. Prices touched an all-time high of .77 on Wednesday, but sharply retreated on signs.....

Emerging FX-Rally in Asian high-yielders extends warily

SINGAPORE, Aug 3 (Reuters) The Indonesian rupiah, Philippine peso and other Asian high-yielders extended their recovery on Friday after a rally in stock markets helped investors overcome some of their concerns about global credit markets. Stock markets in South Korea, Taiwan and some other parts of Asia rallied in line with moves overnight in U.S. stocks, but talk of further delinquencies in the U.S. subprime sector and a rise in U.S. Treasuries showed investors.....

Car running costs drop to 2005 levels

LONDON, Aug 3 (Reuters) The cost of running a car has dropped to around the same level as two years ago, spelling trouble for the government's drive to promote public transport, research shows. The day-to-day expenses of running a car, such as fuel and maintenance, have fallen close to levels of 2005, according to the RAC's annual ''cost of motoring index''. Car maintenance costs have dropped 8 per cent to 273 pounds per year in the.....
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