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  • LONDON, March 4- The European Union's second-highest court has ruled the European Central Bank was wrong to insist that euro clearing houses should be based in the single currency area, a policy Britain had challenged. Britain, which is a member of the EU but not the euro zone, had challenged the ECB's policy, saying it went against the EU's single market.

  • *Fighting escalates in Libya, militants seize oilfield. LONDON, March 4- Brent dipped on Wednesday but held above $60 a barrel, supported by a rise in Saudi crude prices and air strikes and militant raids on oil facilities in Libya. In a move widely seen as showing Saudi Arabia's confidence in a demand recovery, the OPEC kingpin raised official selling prices for its...

  • Euro zone business growth at 7-month high in Feb -PMI Wednesday, 4 Mar 2015 | 4:00 AM ET

    *PMIs point to Q1 GDP growth of 0.3 pct- Markit. Survey compiler Markit said the surveys pointed to first quarter GDP growth of 0.3 percent, the same as at the tail-end of 2014, as business activity expanded in all of the bloc's four biggest economies for the first time since last April. The weaker euro should help boost exports and, perhaps most importantly, the...

  • NEW YORK— U.S. stocks sank Wednesday, pulling indexes further below record highs hit earlier in the week. Given the market's recent run, it's only natural for investors to turn cautious, said Terry Sandven, senior equity strategist at U.S. Alcoa's stock sank 4 percent following news that analysts at Bank of America cut their ratings on the aluminum giant.

  • DIARY-Top Economic Events to March 17 Wednesday, 4 Mar 2015 | 12:01 AM ET

    LAKE FOREST, United States- Federal Reserve Bank of Chicago President Charles Evans speaks on current economic conditions and monetary policy before the Lake Forest-Lake Bluff Rotary Club 2015 Economic Breakfast- 1400 GMT. KANSAS CITY, United States- Federal Reserve Bank of Kansas City President Esther George speaks on the U.S. economy at an event hosted by...

  • Sony plans to launch virtual-reality headset in 2016 Tuesday, 3 Mar 2015 | 8:29 PM ET

    SAN FRANCISCO— Sony plans on putting its virtual-reality headset on consumers' noggins next year. Sony Corp. originally unveiled a prototype of the headset at last year's gathering of video game developers. The headset works in tandem with Sony's PlayStation 4 console and camera by covering users' vision and simulating virtual worlds on screen.

  • NEW YORK, March 3- Oil rebounded on Tuesday as Israeli Prime Minister Benjamin Netanyahu warned the Obama administration against accepting a weak nuclear deal with Iran, while rival Libyan forces targeted oil terminals in the African nation. Higher prices imposed by Saudi Arabia on its crude buyers in Asia, the United States and northwest Europe was another...

  • *Netanyahu hits out against Iran in U.S. Congress, fueling rise. NEW YORK, March 3- Oil rebounded on Tuesday as Israeli Prime Minister Benjamin Netanyahu warned the Obama administration against accepting a weak nuclear deal with Iran, and rival Libyan forces targeted oil terminals in the African nation. Gains accelerated just before noon in New York when...

  • *Brent crude ends above $61 on conflict in Libya. NEW YORK, March 3- U.S. stocks followed other equities markets lower on Tuesday, with major indexes pulling back from record highs as soft auto sales raised doubts about the U.S. economy, while the dollar fell from an 11- year peak versus a basket of currencies. "The air gets a little thin up at new highs and you need a driver...

  • SYDNEY, March 3- Australia has ordered the Chinese owner of a A $39 million Sydney mansion to sell up, the first crackdown on foreign residential purchases in nearly a decade amid government attempts to cool one of the world's hottest property markets. "Villa del Mare" was bought "illegally" in November by Golden Fast Foods Pty, a firm owned by Hong Kong- listed...

  • *Brent crude climbs near $61 on conflict in Libya. NEW YORK, March 3- U.S. stock prices fell on Tuesday, with the Dow Jones industrial average and the Standard& Poor's 500 pulling back from record highs, while the dollar fell from an 11- year peak versus a basket of currencies. "The air gets a little thin up at new highs and you need a driver to keep it going, and one of the...

  • *Netanyahu hits out against Iran in U.S. Congress, fuelling rise. NEW YORK, March 3- Oil rebounded on Tuesday as Israeli Prime Minister Benjamin Netanyahu warned the Obama administration against accepting a weak nuclear deal with Iran and rival Libyan forces targeted oil terminals in the African nation. Gains in Brent accelerated after Netanyahu told the U.S....

  • *Veolia falls after Groupama sells stake. LONDON, March 3- European stock markets slipped from multi-year highs on Tuesday, pegged back by falls in French environment company Veolia and British bank Barclays. Veolia fell 3 percent after insurer Groupama sold a 5.1 percent stake in the company.

  • *Coming Up: American Petroleum Institute data at 2130 GMT. Higher prices imposed by Saudi Arabia for its crude buyers in Asia, the U.S. and northwest Europe did not immediately boost benchmark Brent and U.S. oil futures, although some traders saw the move as supportive. Brent jumped almost 3 percent, trading firmly above the $60- a-barrel support level, as rival...

  • LONDON, March 3- Sterling rose on Tuesday after a survey of construction managers came in better than expected, reinforcing a brighter economic start to a year that also features political uncertainty. By late afternoon in London, sterling was up just under 0.1 percent at 72.75 pence per euro, near Monday's seven-year low of 72.35. "Sentiment for the pound is...

  • BRUSSELS, March 3- The European Bank for Reconstruction and Development will launch a five-year programme of loans and investments in Greece that EU governments hope can foster enterprise and growth to help revive an economy hobbled by public-sector debt. Suma Chakrabarti, president of the London- based EBRD, told reporters in Brussels that all its 66 state...

  • *Brent crude climbs above $61 on conflict in Libya. NEW YORK, March 3- U.S. stock prices fell on Tuesday, with the Dow Jones industrial average and Standard& Poor's 500 receding from their record highs, while the dollar fell from its 11- year peak versus a basket of currencies. "The market is naturally settling in, taking a breather until the scales tip either way to...

  • *Israel, Iran tight-lipped on decades-old arbitration. *Pressure in Israel to remove secrecy. But since the 1979 revolution that brought the ayatollahs to power, Iran has been demanding its share of revenues and assets that remained in Israel.

  • *Request to detain him came from Britain- police source. Dar es Salaam, March 3- Mohammed Emwazi, the Briton identified as Islamic State killer "Jihadi John", was denied entry to Tanzania in 2009 at the request of British security services, a Tanzanian police source said on Tuesday. "When Emwazi and his friends were told they would not be allowed to enter Tanzania, they...

  • LONDON, March 3- The Bank of England's former chief foreign exchange dealer broke internal rules on confidentiality and information technology policy before his dismissal last year, BoE Governor Mark Carney told legislators on Tuesday. The BoE fired Martin Mallett in November as it announced the findings of an independent review into what staff knew of...