As part of the plan, Amazon has agreed to purchase 100,000 electric delivery vans from vehicle manufacturer Rivian.Technologyread more
The plan will allow Medicare to negotiate lower prices on as many as 250 drugs and also apply those discounts to private health plans.Health and Scienceread more
The U.S. economy will have a tough time at the start of 2020, says the head of one of the largest bond managers in the world.Delivering Alpharead more
President Donald Trump on Thursday filed a lawsuit against Manhattan District Attorney Cyrus Vance Jr. and his longtime accounting firm Mazars.Politicsread more
The Democratic-held House plans to move forward with a bill to fund the government through Nov. 21 and avoid another government shutdown.Politicsread more
GM's usage of temporary workers, potential closure of plants and health care contributions remain major sticking points, according to people familiar with the talks.Autosread more
A new Hollister store is coming later this month to New York, right down the block from Macy's, Target and Victoria's Secret in the busy Herald Square shopping district.Retailread more
Newly public ride-sharing companies Uber and Lyft have tumbled 25% since their initial public offerings, but Light Street's Glen Kacher still believes there's a path for...Delivering Alpharead more
The Federal Reserve has calmed the overnight funding market and brought its fed funds rate back in line with its target.Market Insiderread more
The PSA features kids in what initially appears to be a cheerful spot. But it becomes darker as children show how their "back to school" products help in the context of a...Politicsread more
The formats will be available for Facebook's News Feed.Technologyread more
(Rewrites, adds details on Shelton)
WASHINGTON, July 2 (Reuters) - U.S. President Donald Trump announced on Tuesday the names of two nominees to fill vacant posts on the Federal Reserve Board, after two of his earlier choices withdrew from consideration in the face of criticism.
Trump said on Twitter he intends to nominate Christopher Waller, an executive vice president at the Federal Reserve Bank of St. Louis, and Judy Shelton, the U.S. director of the European Bank for Reconstruction and Development.
Both nominees must be confirmed by the U.S. Senate.
Before joining the Fed Bank in St. Louis as research director in 2009, Waller was an economics professor at the University of Notre Dame.
Shelton, who served as an economic adviser to Trump's 2016 presidential campaign, has advocated a return to the gold standard.
Trump has been critical of the Fed, and Chairman Jerome Powell in particular, for raising interest rates.
Trump says he wants lower rates to better compete with China and has accused Powell, whom he appointed to lead the central bank in early 2018, of doing a "bad job."
Trump's earlier choices for the Fed seats, economic commentator Stephen Moore and businessman Herman Cain, withdrew from consideration.
Cain pulled out in mid-April after lawmakers expressed discomfort with the sexual harassment allegations that cut short his presidential bid in 2012. Cain has denied those allegations.
Moore withdrew from consideration in May after weeks of criticism about his political partisanship, shifting views on interest rate policy, and sexist comments about women.
Neither Cain nor Moore had been formally nominated. (Reporting by Eric Beech; editing by Mohammad Zargham and Peter Cooney)