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  • March 25- Last year's unusually harsh U.S. winter probably had some transitory effects on economic activity, but the "folk wisdom" that it was primarily to blame for the slump in early 2014 is suspect, a pair of researchers at the Chicago Federal Reserve said on Wednesday. The theme of harsh weather holding back economic growth is back again this year, with many...

  • U.S. jury convicts former bank exec of securities fraud Wednesday, 25 Mar 2015 | 6:20 PM ET

    SAN FRANCISCO, March 25- A U.S. jury on Wednesday convicted former United Commercial Bank chief operating officer Ebrahim Shabudin of several criminal counts, including securities fraud, according to a court filing. UCB received $298.7 million from the government's Troubled Asset Relief Program during the financial meltdown and was the ninth-largest bank...

  • NEW YORK, March 25- Patent holding company Intellectual Ventures' second crack at holding Motorola Mobility liable for using its technology without permission partially succeeded on Wednesday after a U.S. jury in Delaware found Motorola infringed a patent on multimedia text messaging. Another trial between the two, involving a single Intellectual...

  • Treasury Secretary Jack Lew will travel to China on Friday to meet Chinese officials next week, the U.S. It said Lew would travel from March 28 to 31 "to hold discussions with senior Chinese officials on the U.S., Chinese, and global economies." Lew will meet Chinese officials on Monday and then leave for San Francisco on Tuesday, the statement added.

  • WASHINGTON, March 25- The U.S. Justice Department said on Wednesday that a subsidiary of Schlumberger Oilfield Holdings had pleaded guilty to violating U.S. sanctions related to Iran and Sudan and would pay a $237.2 million fine. "For years, in a variety of ways, this foreign company facilitated trade with Iran and Sudan from Sugar Land, Texas," U.S.

  • SAN FRANCISCO, March 25- Facebook Inc on Wednesday opened up its Messenger service for developers to create apps and for shoppers to communicate directly with retailers, as the Internet company seeks to expand its reach. Facebook hopes to turn its messaging service into one that operates independently of the company's social media network as it faces...

  • DETROIT, March 25- The United Auto Workers union on Wednesday said getting raises for workers at the Detroit automakers will be a top priority in contract talks this summer, but more jobs and production are shifting to U.S. plants without unions and Mexico. Earlier this week, General Motors Co said it would build a factory in Mexico to assemble a new generation of...

  • American Apparel's quarterly revenue falls 9.2 pct Wednesday, 25 Mar 2015 | 5:48 PM ET

    March 25- Clothing and accessories retailer American Apparel Inc reported a 9.2 percent fall in quarterly revenue, as demand dropped across the company's divisions. The company's net loss widened to $28.0 million in the fourth quarter ended Dec. 31 from $20.8 million, a year earlier. American Apparel said it took a $3.8 million charge in the quarter related to an...

  • WASHINGTON, March 25- The U.S. Air Force must modify an annual "launch capability" contract awarded to United Launch Alliance, a joint venture of Lockheed Martin Corp and Boeing Co, given the advent of a new competitor, senior U.S. Air Force and Pentagon officials told lawmakers on Wednesday. Air Force Space Command Commander General John Hyten said acquisition...

  • UPDATE 1-RadioShack auction headed for courtroom showdown Wednesday, 25 Mar 2015 | 5:34 PM ET

    March 25- An auction for RadioShack Corp failed to resolve whether the electronics retailer will remain in business as bidders attacked each in court filings, setting up a showdown before a judge on Thursday. By early Wednesday, however, one of RadioShack's lenders, Salus Capital Partners, asked the U.S. Bankruptcy Court judge overseeing the case to intervene.

  • SANTIAGO, March 25- The world's number-one copper miner Codelco has suspended all mining operations in the north of Chile due to the state of roads and mine access following heavy rains in the area, the state-run firm told Reuters on Wednesday. Codelco said mining operations at Chuquicamata, Ministro Hales, Radomiro Tomic, Gabriela Mistral, and Salvador had all...

  • Uber sets up response teams as safety concerns rise Wednesday, 25 Mar 2015 | 5:17 PM ET

    Uber will form a safety advisory board comprising independent experts to review its practices and advise on adding safety features to its platform, the company's global safety head Phillip Cardenas said in blog post on Wednesday. The measures come in the wake of Brussels police arresting a taxi driver who confessed to taking part in several incidents of...

  • WASHINGTON, March 25- The U.S. Justice Department said on Wednesday that a subsidiary of Schlumberger Oilfield Holdings had pleaded guilty to violating U.S. sanctions related to Iran and Sudan and would pay a $237.2 million fine. "For years, in a variety of ways, this foreign company facilitated trade with Iran and Sudan from Sugar Land, Texas," Justice Department...

  • March 25- BlackRock Inc, the world's largest asset manager, is looking to invest in infrastructure projects in Mexico, according to sources familiar with the situation. As Mexico has opened up to foreign capital in recent years, BlackRock's infrastructure investment group sees an opportunity and is setting up a team of specialists to work out of its Mexico City...

  • March 25- PVH Corp, owner of clothing brands such as Calvin Klein and Tommy Hilfiger, forecast lower-than-expected profit for the first quarter and the full year, as it expects to be hurt by a strengthening dollar. PVH forecast a profit of $6.75- $6.90 per share for the year ending February 2016 and a profit of $1.35- $1.40 per share for the current quarter.

  • WILLISTON, N.D., March 23- Business and community leaders in North Dakota's western oil patch have launched an aggressive campaign to convince more manufacturers to set up shop locally, part of a push to expand the area's economy beyond crude production and slash costs. The company, located on North Dakota's eastern edge, six hours from Williston, currently does...

  • March 25- Red Hat Inc, the world's largest commercial distributor of the Linux operating system, reported revenue and profit that beat estimates, as the company benefits from higher demand for open-source software and its cloud-based products. Shares of Red Hat, whose customers include Adobe Systems Inc and Verizon Communications Inc, rose 4.5 percent in...

  • Whitman, the founder of Whitman Capital LLC in Menlo Park, California, is serving a two-year prison term for his August 2012 conviction on securities fraud and conspiracy charges. Prosecutors said he profited in trading in shares of Google Inc and video-conferencing company Polycom Inc based on illegal tips from people like former Intel Corp employee Roomy...

  • OTTAWA, March 25- Three Canadian National Railway Co derailments in the same area in three weeks, two of them involving oil trains, cannot be explained away as a fluke of nature, Canada's transport minister said Wednesday, adding she is satisfied for now with steps CN has taken to prevent another accident. CN Rail oil trains came off the tracks and caught fire near...

  • LONDON, March 25- The chances of Greece doing a deal with its European creditors have grown since a meeting in Berlin this week, Greek central bank governor Yannis Stournaras said on Wednesday, adding that an exit from the euro would only bring his country more pain. But he warned against the idea of Greece leaving the euro-' Grexit'- and said he was confident this would...