Allergan to buy Zeltiq Aesthetics for about $2.48 billion

(Reuters) – Allergan Plc on Monday said it would buy Zeltiq Aesthetics Inc for about $2.48 billion to gain access to its flagship body contouring technology.

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Allergan to buy Zeltiq Aesthetics for about $2.48 billion

Boeing, machinists face off over union at South Carolina plant

NEW YORK/NORTH CHARLESTON, S.C. (Reuters) – Boeing Co faces its first union vote on Wednesday at its aircraft factory in South Carolina, a high-profile test for organized labor in the nation's most strongly anti-union state. The world's largest planemaker is running a hardball campaign against the International Association of Machinists and Aerospace Workers (IAM), which is trying to organize about 3,000 workers at one of two plants where Boeing makes 787 Dreamliners. The other, in Washington state, has long been unionized by the IAM.

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Boeing, machinists face off over union at South Carolina plant

Citing Trump and Brexit, EU sees euro zone economy risk, sharp drop in UK growth

The European Commission said on Monday that uncertainty about U.S. policies, Brexit and elections in Germany and France would take their toll on the euro zone economy this year. It forecast euro zone economic growth to lose some speed this year before rebounding in 2018. The British economy will nearly halve its expansion by 2018, the European Union executive said in a broad series of economic forecasts.

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Citing Trump and Brexit, EU sees euro zone economy risk, sharp drop in UK growth

U.S. trial set over bitcoin exchange linked to JPMorgan hack probe

A Florida software engineer and a New Jersey pastor are expected on Monday to face trial in a case stemming from an investigation into a bitcoin exchange and a data breach at JPMorgan Chase & Co . Jury selection is set to begin in Manhattan federal court in the case of Yuri Lebedev, who authorities call the architect of bitcoin exchange Coin.mx's electronic platform, and Trevon Gross, a pastor and ex-chairman of a now-defunct credit union.

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U.S. trial set over bitcoin exchange linked to JPMorgan hack probe

Carl Icahn acquires ‘large position’ in Allergan, backs CEO

(Reuters) – Billionaire investor Carl Icahn said on Tuesday he had acquired a “large position” in Botox-maker Allergan Plc and that he was very supportive of Chief Executive Officer Brent Saunders. Shares of Allergan rose 0.8 percent to $237.85 in mid-morning trading. Icahn, who did not disclose details of the stake, said in a statement on his website that he was confident in Saunders' ability to enhance value for all Allergan shareholders.

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Carl Icahn acquires ‘large position’ in Allergan, backs CEO

Fed debated April rate hike but caution reigned due to global fears: minutes

Federal Reserve policymakers debated last month whether an interest rate hike would be needed in April though a consensus emerged that risks from a global economic slowdown warranted a cautious approach. According to the minutes, many Fed members said they were concerned that interest rates were still so low that the central bank had limited firepower to respond to shocks from abroad. Investors have held doubts the Fed would raise rates at all this year and the minutes did little to shift bets on the path of policy.

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Fed debated April rate hike but caution reigned due to global fears: minutes

U.S. weakens retirement advice rule, responding to industry

By Suzanne Barlyn and Lisa Lambert WASHINGTON (Reuters) – A new U.S. rule aimed at protecting retirement savers from profit-hungry brokers turned out to be much weaker than an initial proposal after the Obama administration bowed to pressure from the financial services industry. The rule, announced by the Department of Labor on Wednesday, sets a so-called fiduciary standard for financial brokers who sell retirement products, requiring them to put clients' best interests ahead of their bottom line. The language is tougher than an existing rule that only requires brokers to ensure products are “suitable.” However, the Labor Department did compromise with the industry on a range of provisions.

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U.S. weakens retirement advice rule, responding to industry

Wall Street pushed higher by healthcare, energy stocks

The collapse of the $160 billion merger of Pfizer and Allergan bolstered the healthcare sector on rising hopes that the pharmaceutical giants could turn to smaller targets. A seven-week rally – sparked by rising oil, strength in the economy and a cautious Fed – helped stocks recover from a steep selloff that had sent the S&P 500 down more than 10 percent earlier this year.

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Wall Street pushed higher by healthcare, energy stocks

Pfizer, Allergan say combined drug pipeline ‘underappreciated’

The research chiefs of betrothed drugmakers Pfizer Inc and Allergan say the proposed combination of their experimental drugs deserves more credit, including potential blockbuster treatments for schizophrenia and depression. Pfizer agreed in November to buy Botox-maker Allergan for $160 billion in a transaction meant to slash Pfizer's tax rate and achieve other cost savings. The tax-inversion deal would shift Pfizer's headquarters to Dublin and is slated to close in the second half of 2016.

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Pfizer, Allergan say combined drug pipeline ‘underappreciated’

Pfizer to buy Allergan in $160 billion deal

By Ransdell Pierson and Bill Berkrot NEW YORK (Reuters) – Pfizer Inc on Monday said it would buy Botox maker Allergan Plc in a deal worth $160 billion to slash its U.S. tax bill, rekindling a fierce political debate over the financial maneuver. The acquisition, which would shift Pfizer's headquarters to Ireland, would be the biggest-ever tax inversion. Shares of Allergan and Pfizer fell more than 2 percent as investors learned the merger, which would create the world's largest drugmaker, would bring lower cost savings than they had hoped.

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Pfizer to buy Allergan in $160 billion deal