Reuters - Before the Bell

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Tuesday, June 25, 2019

Futures lower on Iran tensions, trade worries

U.S. stock futures were pulled lower by Iran tensions and trade worries on Tuesday, with investors focusing on Federal Reserve officials for more clarity on interest rates.

AbbVie to buy Botox-maker Allergan in $63 billion deal

Drugmaker AbbVie Inc said on Tuesday it would buy Botox-maker Allergan Plc for about $63 billion, grabbing control of by far the biggest name in medical aesthetics to help reduce its reliance on blockbuster arthritis treatment Humira.

Central bankers weigh up Facebook's Libra plan

A senior member of the Swiss National Bank said he was open-minded about Facebook's cryptocurrency project, while an Italian official looked for more information as central bankers try to get to grips with the initiative.

UK watchdog wants more detail on Facebook's Libra coin plan

There was "insufficient" detail to understand Facebook's plans to expand into payments and launch its own Libra coin, Britain's Financial Conduct Authority (FCA) said on Tuesday.

Oil prices drop on demand worries, Saudi supply pledge

Oil prices inched lower on Tuesday, weighed down by concerns over declining crude demand and a Saudi pledge to offset any shortfall from countries hit by sanctions, as the market shrugged off risks to supply linked to tensions around Iran.

BMW's hybrid cars to switch to electric only mode in polluted cities

BMW's new hybrid cars will automatically switch off their combustion engines in heavily polluted inner city areas and use pure electric driving mode as a way to cut vehicle emissions, the carmaker said on Tuesday.

Trade stress, Iran tensions hits stocks, dollar frets on Fed doves

European shares were spooked by Iran tensions and trade jitters on Tuesday, while the risk of more dovish talk from the Federal Reserve inflated gold to six-year highs and stoked demand for safe-harbor currencies like the yen and Swiss franc.

Fund supermarket Allfunds bulks up with Credit Suisse deal

Spain's Allfunds Group is buying Credit Suisse's business-to-business investment fund platform InvestLab for an undisclosed sum as the investment services industry consolidates to reap the benefits of scale.

With job intact, Nissan's CEO pins Renault alliance on mutual respect, flags inequality risk

Nissan Motor Co Ltd on Tuesday threw cold water on hopes for a quick fix to strained relations with France's Renault SA, saying inequality between the partners could unravel their two-decade-old automaking alliance.

Carrefour boss rules out exiting more countries after China deal

Carrefour boss Alexandre Bompard said he had no plans to exit other countries after the French supermarket retailer agreed to sell a majority stake in its Chinese operations to electronics retailer Suning.com.