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BREAKING NEWS: A federal appeals court rules 2-1 that subsidies that helped people buy insurance at healthcare.gov are illegal.

WASHINGTON (Reuters) - A U.S. appeals court on Tuesday threw out a federal regulation that implements key subsidies that are vital to President Barack Obama's healthcare overhaul. The U.S. Court of Appeals for the District of Columbia Circuit accepted one of the main legal challenges to the policy by conservatives opposed to an expansion of the federal government. A three-judge panel returned the case to a lower court with instructions to rule in favor of appellants who had sued to overturn t...

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BlackRock CEO Fink says not seeking Treasury job

Chairman and Chief Executive of BlackRock Laurence Fink speaks during The Economist's Buttonwood Gathering in New York October 25, 2012. REU
Chairman and Chief Executive of BlackRock Laurence Fink speaks during The Economist's Buttonwood Gathering in New York October 25, 2012. REU

(Reuters) - Laurence Fink, chief executive of BlackRock, the world's biggest money manager, said on Tuesday he is not seeking a job in the administration of Barack Obama.

"I am not leaving this job," Fink told investors at the Goldman Sachs Financial Services Conference in New York. "I will be at BlackRock as long as my board wants me here."

Fink has at times been rumored as a potential candidate to replace U.S. Treasury Secretary Timothy Geithner.

"It's like a myth," Fink said of the recurrent rumor. "I am happy where I am."

Fink has headed New York-based BlackRock since it was founded as a fixed-income oriented shop in 1988. Through a series of acquisitions and strong asset growth, Fink has helped build the firm into an industry titan with almost $4 trillion of assets under management.

(Reporting by Aaron Pressman; Editing by Bernard Orr)

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