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China has accused the Philippines of violating a 13-year-old informal code of conduct in the South China Sea with its building work on disputed islets, firing back again after repeated criticism of China's own construction work.

NATO launched one of its biggest-ever anti-submarine exercises in the North Sea on Monday, inviting non-member Sweden for the first time, amid increasing tensions between Russia and its northern neighbors.

JPMorgan Chase & Co (JPM.N) said on Tuesday it is in "advanced stages" of settlement talks with the U.S. Department of Justice and Federal Reserve over previously disclosed investigations into its foreign exchange trading.