NEW YORK, Dec 11- Natural gas futures hit 7- month highs on Wednesday after cold weather forecasts bumped up expectations for heating demand in the United States, while U.S. crude prices tumbled on a report showing a build in gasoline inventories. Copper rose for a fourth straight session in London, hitting a one-month high together with zinc.» Read More
NEW YORK, July 26- The number of rigs drilling for natural gas in the United States was unchanged this week at 369, data from Houston- based Baker Hughes showed on Friday. Gas futures prices on Friday, which were down about 7 cents at $3.575 per mmBtu just before the data was released, held at about that level after the report.
The U.S. Court of Appeals for the Federal Circuit issued its decision in a patent fight between Teva and rivals Sandoz and Mylan Inc.. Teva and Sandoz did not immediately comment on the ruling. Both Sandoz, a generic division of Novartis, and Mylan had notified the U.S. Food and Drug Administration that they wanted to bring out generic versions of Copaxone.
NEW YORK, July 26- A U.S. appeals court on Friday upheld a ruling against Exxon Mobil Corp ordering the company to pay $105 million in damages for polluting New York City's groundwater with a toxic gasoline additive.
MEXICO CITY, July 26- Mexico's America Movil is still deciding whether to back KPN's proposed sale of its German unit to Spain's Telefonica, America Movil Chief Executive Daniel Hajj said on Friday. KPN, a Dutch telecoms operator, is 30 percent- owned by America Movil.
July 26- The U.S. Food and Drug Administration proposed a new rule on Friday that would require food companies to verify that products they import meet certain safety standards. More than 3,000 people in the United States die each year from food-borne illnesses, according to federal data.
*Gold set for 2 pct weekly gain, first 3- week rise since March. *Russia ups gold reserves in June, others cut- IMF data. NEW YORK/ LONDON, July 26- Gold dropped 1 percent on Friday on pre-weekend profit taking, but bullion was still set to post a sharp weekly gain as wariness over the U.S.
MEXICO CITY, July 26- Mexican state oil monopoly Pemex on Friday posted its steepest loss since 2011, hurt by lower crude export prices and a stronger peso. Pemex posted a loss of 49 billion pesos in the second quarter compared with a year earlier loss of 33.6 billion, according to a statement.
*Expedia loses a fourth of its market cap after results. *Zynga won't pursue real-money gaming, shares tumble. "It's not uncommon for short-term traders to lock a little bit of profits, especially after everyone had a terrible June," said Paul Zemsky, head of asset allocation at ING Investment Management in New York.
July 26- Detroit's filing for bankruptcy protection is "profoundly meaningful" for the small number of local governments in the United States that are below investment grade, and could change their approach to pensions and other long-term liabilities, Moody's Investors Service said on Friday.
*France's CAC outperforms, LVMH results impress. *Financials drag on FTSE 100 ahead of banks' earnings. LONDON, July 26- Germany's benchmark index led European shares lower on Friday as a spate of underwhelming company results helped it to underperform its southern European peers.
Gray charges totaled $14.3 billion in 2012, according to a study released Thursday by the credit card usage monitoring company BillGuard in conjunction with the research firm Aite Group. Credit card issuers, the report says, spent an estimated $562 million in customer service time to deal with disputes and process charge-backs.
NEW YORK, July 26- The dollar fell to a five-week low against major currencies on Friday on speculation the Federal Reserve will emphasize next week its intention to keep interest rates low for longer.
July 26- Republic Airways Holdings Inc said on Friday it has reached a nonbinding deal to sell its Frontier unit, sparking a 5.6 percent rise in its shares. Republic did not identify the buyer but referred to it as a third party.
*Plans events on Monday in London, New York and Beijing. BMW is set to launch its first all-electric car, hoping to stir demand for a pricey luxury model just as some other makers hit hurdles in selling electric propulsion.
July 26- AbbVie Inc's reliance on its Humira arthritis drug became even more evident during the second quarter, when the product's sales jumped 12 percent and accounted for almost 56 percent of the U.S. drugmaker's revenue. And AbbVie officials on Friday forecast more big growth for the world's best-selling medicine.
*Protesters gather in central Tunis. TUNIS, July 26- Several thousand Islamists took to the streets of Tunis on Friday to defend the Islamist-led government from popular demands for it to resign over the assassination of a secular opposition politician.
WASHINGTON, July 26- The Federal Reserve will need to effectively communicate its strategy to exit from its massive monetary stimulus while avoiding excessive volatility in interest rates, the International Monetary Fund said on Friday.
*Hungary plans relief scheme for foreign currency mortgages. BUDAPEST, July 26- Banks in Hungary cannot afford to foot the bill for Prime Minister Viktor Orban's plan to help borrowers struggling with foreign currency mortgages, a senior banker said, breaking foreign lenders' silence on Orban's latest high-risk scheme.
WASHINGTON, July 26- A federal appeals court on Friday rejected a legal challenge by Texas and Wyoming to the U.S. Environmental Protection Agency's efforts to implement regulations to curb greenhouse gas emissions.
*Qatar Airways plane has not flown since Sunday- Flightaware. *'Minor issue, not an incident'- Qatar Airways spokeswoman.