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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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J&J CEO Gorsky elected chairman, replacing Weldon

(Reuters) - Johnson & Johnson has named Chief Executive Alex Gorsky as the chairman of its board of directors, effective December 28, replacing current chairman Bill Weldon, the company said on Friday.

Gorsky, a former vice chairman of the diversified healthcare company, became chief executive on April 26, replacing Weldon, who had served as CEO for a decade. But Weldon had retained his role as chairman, as the company continued attempts to fix manufacturing problems that have sparked recalls of Tylenol and many other over-the-counter consumer brands during the past three years.

J&J said in a release that Weldon, who has been with the company for 41 years, will retire from Johnson & Johnson in the first quarter of 2013.

(Reporting By Ransdell Pierson; Editing by Gerald E. McCormick)

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