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BUENOS AIRES/NEW YORK (Reuters) - Argentina will default on its debt within hours after talks with holdout creditors broke down on Wednesday.

GAZA/JERUSALEM (Reuters) - Israel pressed ahead with its Gaza offensive saying it was days from achieving its core goal of destroying all Islamist guerrilla cross-border attack tunnels, but a soaring Palestinian civilian toll has triggered international alarm.

BENGHAZI/TRIPOLI (Reuters) - Rival Libyan militias fighting for control of Tripoli's airport agreed to a temporary ceasefire on Wednesday to allow firefighters to try to control a huge blaze at a fuel depot hit by a rocket.

(Reuters) - Only days before U.S. authorities reached a landmark $8.97 billion settlement with BNP Paribas over the bank’s dealings with countries subject to U.S. sanctions, New York Governor Andrew Cuomo intervened to ensure the state government got a much bigger share of the proceeds, according to three people familiar with the situation.

WASHINGTON (Reuters) - The Federal Reserve on Wednesday reaffirmed it was in no rush to raise interest rates, even as it upgraded its assessment of the U.S. economy and expressed some comfort that inflation was moving up toward its target.

WASHINGTON (Reuters) - The Republican-led U.S. House of Representatives on Wednesday cleared the way for the launch of a lawsuit accusing President Barack Obama of overstepping his authority in carrying out his signature healthcare law.

BUENOS AIRES/NEW YORK (Reuters) - Argentina failed to strike a deal to avert its second default in more than 12 years after talks with holdout creditors ended without a settlement on Wednesday.

GAZA/JERUSALEM (Reuters) - Israeli shelling killed at least 15 Palestinians sheltering in a U.N.-run school and another 17 near a street market on Wednesday, Gaza's Health Ministry said, with no ceasefire in sight after more than three weeks of fighting.

MOSCOW/KIEV (Reuters) - Russia fought back on Wednesday over new U.S. and EU sanctions imposed over Ukraine even as G7 leaders warned of further steps, while Ukraine's government accused pro-Russian rebels of placing land mines near the site of a crashed Malaysian airliner to prevent a proper investigation.

NEW YORK (Reuters) - A federal judge on Wednesday ordered Bank of America Corp to pay a $1.27 billion penalty for fraud over shoddy mortgages sold by the former Countrywide Financial Corp.

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