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.
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.
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.
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.
Wall St. sinks on trade jitters ahead of Powell speech
NEW YORK (Reuters) - Wall Street lost ground on Tuesday as simmering geopolitical and trade concerns, combined with disappointing economic data, kept buyers at bay and investors looked to remarks from U.S. Federal Reserve chair Jerome Powell expected later in the session.
Special Report: How judges added to the grim toll of opioids
WELCH, West Virginia (Reuters) - The opioid epidemic that has so far killed half a million Americans is routinely blamed on greedy drug makers, feckless doctors and lax regulators. But thereâs another group that has contributed to the depth and duration of the catastrophe: judges.
PG&E bondholders propose bankruptcy exit plan worth up to $30 billion
SAN FRANCISCO (Reuters) - A committee of bondholders of PG&E Corp's utility unit on Tuesday proposed a bankruptcy reorganization plan that would inject up to $30 billion to help the California power provider emerge from Chapter 11 and pay off its liability from wildfires.
GM to spend $20 million more on equipment upgrade at Arlington plant
(Reuters) - General Motors Co said on Tuesday it would invest an additional $20 million to upgrade equipment at the automaker's Arlington Assembly plant in Texas, ahead of the launch of full-size sports utility vehicles (SUVs).
UPS will not join FedEx lawsuit against U.S. government
(Reuters) - Parcel delivery company United Parcel Service Inc said on Tuesday it would not join rival FedEx Corp's lawsuit against the U.S. government.
UBS CEO welcomes cryptocurrency advances but urges caution
ZURICH (Reuters) - Switzerland should welcome innovation in cryptocurrencies but needs to be on guard against potential abuses by criminals, UBS Group Chief Executive Sergio Ermotti told a panel discussion on Tuesday.