State/National Business News

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Stocks fell on Wall Street in afternoon trading Tuesday after discouraging economic data and cautionary remarks from the head of the Federal Reserve stoked investors' worries that the U.S. economy is slowing.

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Facing competition for the world's top-selling drug, AbbVie is jumping on this year's pharmaceutical merger bandwagon with a $63 billion bid for Botox maker Allergan that's meant to spur future growth.

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TEHRAN, Iran (AP) — Iran warned Tuesday that new U.S. sanctions targeting its supreme leader and other top officials meant "closing the doors of diplomacy" between Tehran and Washington amid heightened tensions, even as President Hassan Rouhani derided the White House as being "afflicted by …

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CLEVELAND (AP) — State and local governments suing over the toll of a nationwide opioid crisis agree that companies in the drug industry should be held accountable, but they have differences on who should have the power to strike any settlement, and how it should work.

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FRANKFURT, Germany (AP) — An international financial monitor warned world leaders Tuesday that wider use by retail shoppers of cryptocurrencies like Libra, unveiled last week by Facebook, would need "close scrutiny" by regulators.

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LONDON (AP) — An ambitious group of suspected state-backed hackers has been burrowing into telecommunications companies in order to spy on high-profile targets across the world, a U.S. cybersecurity firm said in a report published Tuesday .

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WASHINGTON (AP) — Federal Reserve Chairman Jerome Powell said Tuesday the economic outlook has become cloudier since early May, with rising uncertainties over trade and global growth causing the central bank to reassess its next move on interest rates.

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SPRINGFIELD, Ill. (AP) — Illinois' new governor delivered on a top campaign promise Tuesday by signing legislation that makes the state the 11th to legalize small amounts of marijuana for recreational use and the second to approve it through the Legislature rather than the ballot box.

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