(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.

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.

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.

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.

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.

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 there’s another group that has contributed to the depth and duration of the catastrophe: judges.

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.

(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).

(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.