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  • UPDATE 1-Microsoft must face Xbox 360 class action claims Wednesday, 18 Mar 2015 | 1:36 PM ET

    March 18- Microsoft Corp must face class action claims by Xbox 360 owners who say the video game console has a design defect that causes game discs to be gouged, a federal appeals court ruled on Wednesday. Microsoft has sold tens of millions of Xbox 360 consoles since their Nov. 2005 launch. Microsoft countered that class certification was improper because just...

  • UNITED NATIONS, March 18- The United Nations said on Wednesday it expects Israel to continue with the Middle East peace process to negotiate a Palestinian state after Israeli Prime Minster Benjamin Netanyahu was re-elected on a pledge to abandon that commitment. "It is incumbent on the new Israeli Government, once formed, to create the conditions for a...

  • FRANKFURT, March 18- A German court on Wednesday banned Uber from running services using unlicensed cab drivers and set stiff fines for any violations of local transport laws by the pioneering online taxi firm. Born out of the frustration of two Silicon Valley entreprenuers trying to catch a cab in Paris, Uber's popular mobile phone taxi-hailing services have...

  • BRASILIA, March 18- Brazil's economy shed jobs for a third straight month in February, government data showed on Wednesday, in another setback for President Dilma Rousseff as the nation's once-booming job market rapidly loses steam. Factories, farms and services companies in Brazil shed a net 2,415 jobs in February, the labor ministry said, missing a Reuters...

  • BUENOS AIRES/ NEW YORK, March 18- Argentina will not allow Citigroup Inc. to exit its local custody business, a senior source in the government said on Wednesday, setting up a possible showdown between the leftist government and the banking giant over sovereign debt payments. The bank has found itself at the center of a bitter court battle between Argentina and a...

  • MGM also said it would consider the investment manager's plan to nominate four candidates to its board, including founder Jonathan Litt. MGM operates destination resorts such as the Bellagio, MGM Grand and the Mirage. Land and Buildings', which owns a 0.8 percent stake in MGM, said it expected MGM's net asset value to rise to $55 per share from $33 after the...

  • NEW YORK, March 18- Stocks on Wall Street slipped and shares in Europe rose on Wednesday, reflecting diverging policies between the Federal Reserve and the European Central Bank, while oil prices fell as data showed U.S. crude inventories hit a record high. The FTSEurofirst 300 index of top European shares rose 0.33 percent to close at a provisional 1,589.07,...

  • March 18- Ocwen Financial Corp said it was selling residential mortgage servicing rights worth $9.6 billion to a subsidiary of Walter Investment Management Corp. Ocwen, which delayed filing its full-year results, also said it was reviewing the ability of its affiliate, Home Loan Servicing Solutions Ltd, to meet obligations to fund new servicing advances.

  • BOGOTA, March 18- Colombia expects income from the oil sector to fall 60 percent this year because of the sharp drop in crude prices, while the industry believes an alarming slowdown in exploration jeopardizes the sector's future, officials said on Wednesday. While Colombia is not a major oil producer, crude is its largest export and generates about 20 percent of...

  • MEXICO CITY, March 18- Mexican Finance Minister Luis Videgaray said on Wednesday he does not expect the recent plunge in oil prices to be temporary and that Mexico's public finances will face major difficulties next year as a result. Mexico is a major oil exporter and the drop in crude prices has pushed its peso currency to record lows, leading it to slow the pace of...

  • In a 2-1 ruling, the 9th U.S. Circuit Court of Appeals in San Francisco found that Kings County acted reasonably when it barred the ad, which sparked threats of vandalism and violence that could have endangered passengers. Neither a Kings County spokesman nor a representative for the American Civil Liberties Union of Washington Foundation, which challenged...

  • WASHINGTON, March 18- Washington will keep pressing China to pause new bank cybersecurity rules that have upset U.S. companies and is working with Japan and the European Union to present a united front, a senior U.S. official said on Wednesday. Washington is also pressing for China to pause the implementation of a draft counter-terrorism law which could also hit...

  • March 18- Starbucks Corp will begin offering delivery in New York City and Seattle later this year, when it also plans to expand mobile order and pay services across the United States. The new efforts, to be announced at Starbucks' annual meeting on Wednesday, come as U.S. restaurant chains ranging from McDonald's Corp to Panera Bread Co turn to technology to...

  • U.S. military veteran unemployment easing, but still high Wednesday, 18 Mar 2015 | 12:30 PM ET

    WASHINGTON, March 18- Unemployment rates for U.S. military veterans fell last year, but joblessness among their ranks remains higher than the civilian population, a government report showed on Thursday. The unemployment rate among veterans who joined the military after Sept. 11, 2001, fell to an average of 7.2 percent last year from 9 percent in 2013, the Labor...

  • *Alibaba shares little changed as lockup expires. *FedEx falls after lower outlook. NEW YORK, March 18- U.S. stocks fell on Wednesday ahead of a highly anticipated statement and news conference by the Federal Reserve later in the session, with the Fed seen giving clearer clues on how soon it plans to tighten monetary policy.

  • NEW YORK, March 18- Oil markets diverged on Wednesday with Brent supported while U.S. crude prices fell after domestic inventories hit record highs for a 10th week and supplies at the futures' delivery hub hit a peak. U.S. crude inventories rose 9.6 million barrels to a new record of 458.5 million barrels in the week to March 13, figures from the government-run...

  • Six months after Alibaba's IPO, the shares are down more than 29 percent from their November high. Alibaba opened on Sept. 19 at $92.70, ended its first day at $93.89 and reached its peak on November 13, when it hit $120. Alibaba, which already commands 80 percent of the Chinese market and handles more ecommerce than Amazon and eBay combined, trades at a...

  • LONDON, March 18- Developing countries facing potentially pricey legal challenges from big tobacco firms are to get help from a new $4 million fund created by the philanthropists Bill Gates and Michael Bloomberg. Bloomberg and Gates, the billionaire co-founder of Microsoft, cited examples such as Uruguay, which since 2010 has been fighting a legal challenge...

  • EU seeks solution to keep arbitration in U.S. trade deal Wednesday, 18 Mar 2015 | 12:14 PM ET

    BRUSSELS, March 18- The EU's trade chief sought on Wednesday to overcome one of the biggest disputes blocking an accord with the United States, offering to radically change the way companies would resolve conflicts in transatlantic business. Cecilia Malmstrom, the European Union's trade commissioner, said arbitration must be part of any EU-U.S. free-trade...

  • PARIS/ SEATTLE, March 18- Planemakers Airbus and Boeing have stepped up pressure on French supplier Zodiac Aerospace over persistent delays in the delivery of aircraft seats that are disrupting jetliner assembly, industry sources said. Paris- based Zodiac has been wrestling for months with missed deadlines for seat production, which it blames on its...