MOSCOW, Dec 26- Slumping oil prices have put Russia's economy on course for a sharp recession next year, its finance minister said on Friday, as authorities scaled up the bailout of the first bank to succumb to the country's currency crisis. Russia's economy is slowing sharply as Western sanctions over the Ukraine crisis deter foreign investment and spur...» Read More
*Israel rejects comparisons with Ukrainian disaster. *Israel offers desert airport as alternative. JERUSALEM, July 23- Israel tried on Wednesday to get U.S. and European commercial flights to Tel Aviv restored after some carriers suspended services, insisting its main airport there was safe despite being targeted by Palestinian rockets.
NEW YORK, July 23- The U.S. Department of Transportation proposes phasing out older DOT-111 railcars for shipping highly flammable crude oils, known as packing group 1, within 2 years, an aide to Transportation Secretary Anthony Foxx said on Wednesday.
July 23- Yum Brands Inc's China division has stopped buying from OSI China, after Shanghai police detained five people connected to the food supplier's factory at the center of a new food safety scandal, Yum said on Wednesday.
ARGENTINA, HOLDOUT BONDHOLDER TALKS WITH MEDIATOR RESCHEDULED FOR THURSDAY AT 12:00 PM EDT-- MEDIATOR.
LONDON, July 23- GlaxoSmithKline cut its 2014 earnings outlook after sales fell by a worse-than-expected 13 percent in the second quarter as its all-important lung drugs struggled in the United States and a strong pound took a bite out of growth.
DOT 111 CARS WOULD BE PHASED OUT FOR LESS FLAMMABLE CRUDES OVER THREE AND FIVE YEARS RESPECTIVELY.
DOT PROPOSES PROHIBITING USE OF OLDER DOT 111 RAILCARS FOR SHIPPING HIGHLY FLAMMABLE CRUDE OILS WITHIN 2 YEARS.
*Microsoft sees end to Nokia losses, shares rise. NEW YORK, July 23- The S&P 500 hit a record high on Wednesday, lifted by bullish earnings from companies like Apple and Microsoft, though technical resistance and conflicts in Ukraine and the Gaza Strip kept gains in check.
MUMBAI, July 23- India on Wednesday allowed foreign fund managers to hold more government bonds, but also stipulated that in future they will not be able to hold debt of less than three years.
LONDON, July 23- Brent crude oil rose towards $108 a barrel on Wednesday as threats to supplies from oil-producing regions and a drop in U.S. oil stocks overshadowed a stronger dollar. The U.S. Energy Information Administration said U.S. crude stocks fell by 4 million barrels last week, more than expected, while gasoline and distillate stocks rose.
AMSTERDAM, July 23- The Dutch Safety Board said on Wednesday it had taken charge of an international investigation into the crash last week in Ukraine of a Malaysian airliner in which 298 people died, the majority from the Netherlands.
MEXICO CITY, July 23- Mexican state oil giant Pemex said on Wednesday that work at most of its Ciudad Madero refinery in northern Mexico had been halted while it tried to contain an ongoing blaze in a storage tank.
NEW YORK, July 23- U.S. long-term Treasury debt prices edged higher for a third straight session on Wednesday on continued safe-haven demand as global tensions in the Middle East and Ukraine persisted.
July 23- A rise in margins has raised hopes that Apple Inc may be able to hold the line on pricing ahead of the launch of new iPhones later this year. Apple's shares rose 3.3 percent to a 22- month high of $97.88 on the Nasdaq on Wednesday.
WASHINGTON, July 23- The U.S. Department of Transportation on Wednesday proposed an overhaul of safety standards for transporting crude oil and ethanol by rail, after a number of explosive accidents over the past year.
Protections set up by the U.S. Food and Drug Administration called "risk evaluation and mitigation strategies", which can curb distribution of dangerous medicines, have been used to prevent generic drugmakers from getting the drugs in order to test their own versions, which is required to win FDA approval, the report from the Generic Pharmaceutical Association said.
CRUDE FUTURES HOLD GAINS AFTER EIA REPORT OF 4- MLN-BARREL DRAW IN INVENTORIES.
TORONTO, July 23- Canada's largest telecom company, BCE Inc, said on Wednesday it will pay C $3.95 billion to take regional telecom Bell Aliant private, buying the 56 percent stake it does not already own to cut expenses and bolster its offerings in Atlantic Canada.
*Russia annexed Black Sea region in March. MOSCOW, July 23- The cost of petrol has risen in Crimea for the first time since Russia seized the Black Sea peninsula from Ukraine in March, despite a promise by Moscow to reduce the price.
July 23- Whirlpool Corp on Wednesday reported a lower-than-expected quarterly profit as sales fell in every region except North America. The company posted second-quarter earnings of $179 million, or $2.25 a share, down from $198 million, or $2.44 a share, a year earlier.