France slumps; tanker traffic jam; and consumers diss credit cards

Botox, meet Viagra. Pfizer (PFE) announced plans to buy Allergan (AGN) in a $160 billion deal, which would create the world's largest drug company. The markets are up modestly (^DJI, ^GSPC, ^IXIC).  Here are some other stories we're looking at today at Yahoo Finance.

Crude tanker traffic jam

There's a traffic jam on the high seas. Oil tankers are all decked out with crude, but no place to go. They're lining up outside Houston, as the supply glut continues. How will this translate to the price at the pump?

France slumps, U.S. ramps

Also, in the wake of the Paris attacks, the French economy is already showing signs of weakness. The latest purchasing manager survey taken by Markit reports that the terrorist attacks have "negatively impacted on activity." But in the U.S., the defense business is booming. We'll tell you what Congress is calling for.

Consumers say no to credit

Cash will be king this Christmas, according to a survey by Bank Rate. Consumers are retrenching a bit and opting for cash over credit. What effect will this have on retailers?

Free flights for life

Want to fly free forever? All it takes is a Christie's auction and an American Express card. Who just spent a cool $170 million to get this deal?