Today's Top Story
AbbVie looks beyond Humira with $63 billion deal for Botox-maker Allergan
(Reuters) - Drugmaker AbbVie Inc said on Tuesday it would buy Botox-maker Allergan Plc for about $63 billion, grabbing control of the biggest name in medical aesthetics to help reduce its reliance on blockbuster arthritis treatment Humira. Read More
Business News
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Powell says Fed is wrestling with whether to cut rates, insulated from politics
NEW YORK (Reuters) - Federal Reserve Chairman Jerome Powell on Tuesday said the U.S. central bank is "insulated from short-term political pressures," as policymakers wrestle with whether to cut rates as President Donald Trump has demanded.
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U.S. consumer confidence dives, trade tensions hurting economy
WASHINGTON (Reuters) - U.S. consumer confidence tumbled to a 21-month low in June as households grew a bit more pessimistic about business and labor market conditions amid concerns about a recent escalation in trade tensions between the United States and China.
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Exclusive: In push to replace Huawei, rural U.S. carriers are talking with Nokia and Ericsson
HELSINKI/NEW YORK (Reuters) - About a dozen rural U.S. telecom carriers that depend on Huawei for network gear are in discussions with its biggest rivals, Ericsson and Nokia, to replace their Chinese equipment, sources familiar with the matter said.
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Economic News
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Powell says Fed insulated from politics, wrestling with rate cuts
NEW YORK (Reuters) - Federal Reserve Chairman Jerome Powell on Tuesday said the U.S. central bank is "insulated from short-term political pressures," and that its policymakers are wrestling with whether to cut interest rates as President Donald Trump has demanded.
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Wall Street drops on trade worries, Fed Chair Powell's speech
NEW YORK (Reuters) - Wall Street lost ground on Tuesday as simmering trade concerns, combined with disappointing economic data, sent buyers to the sidelines, where they remained after Federal Reserve Chair Jerome Powell pushed back on pressure from President Donald Trump to cut rates.
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U.S. consumer confidence dives, trade tensions hurting economy
WASHINGTON (Reuters) - U.S. consumer confidence tumbled to a 21-month low in June as households grew a bit more pessimistic about business and labor market conditions amid concerns about a recent escalation in trade tensions between the United States and China.
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Money News
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Lords of the Ring: Can 'smart' ring give BlackRock fund managers the edge?
LONDON (Reuters) - After years of using the internet, satellites, algos and other innovations to mine 'Big Data' for that edge over rivals, the world's biggest investment firm is trialing a gizmo that puts the focus back on humans -- its own portfolio managers.
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Natixis' H2O sells some illiquid debt to try to staunch outflows
PARIS/LONDON (Reuters) - H2O, one of French bank Natixis' asset management businesses, has sold off some illiquid assets and removed entry fees across its funds as it tries to stem outflows of customer money.
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Norway wealth fund allowed to invest again in Walmart, Rio Tinto, others
OSLO (Reuters) - Norway's $1 trillion wealth fund can invest again in miner Rio Tinto and retailer Walmart after their exclusions from the fund's investments on ethical grounds were revoked, the board of the central bank said on Tuesday.
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