NEW YORK (AP) — U.S. stocks are mixed this morning following some disappointing economic reports from overseas and news that U.S.-led forces have started airstrikes against Islamic State militants in Syria. The losses so far are modest, with the Dow down about 20 points. The S&P 500 has been mostly flat, while the Nasdaq composite is edging higher.
NEW YORK (AP) — Health-care stocks are among the biggest decliners on Wall Street this morning after the Treasury Department announced new regulations that would discourage corporate “inversions.” Health-care companies have been among the most active in making such deals, in which a company merges with an overseas competitor, legally moving its headquarters out of the U.S. to avoid taxes. Medtronic and Abbvie have been considering inversion deals. They were down 2 percent in early trading.
BERLIN (AP) — Greece’s prime minister says his country “can now stand on its own two feet” and isn’t seeking another international financial rescue. Prime Minister Antonis Samaras (ahn-TOH’-nees sah-mah-RAHS’) says Greece will soon propose its own framework to continue reforms after the rescue payments run out. Greece has received two bailout packages totaling $308 billion since 2010. Payments from Greece’s eurozone partners are due to end this year while those from the International Monetary Fund conclude in 2016.
NEW YORK (AP) — Procter & Gamble is shedding the remaining parts of its pet care business. It’s selling its Iams and Eukanuba brands in Europe to Spectrum Brands. P&G had sold most of its global pet care business in April and says the move will help it focus on its core businesses. The company makes Tide detergent and Pampers diapers among other things. Shares of both P&G and Spectrum are higher in morning trading.
WASHINGTON (AP) — U.S. health regulators are trying to help doctors spot counterfeit and unapproved drugs by raising awareness of illegal operations that peddle bogus drugs to health professionals. Federal prosecutors recently uncovered rogue companies distributing foreign versions of Botox, fake cancer drugs and other unapproved or contaminated medicines in the U.S. The Food and Drug Administration plans to fax flyers to physicians across the country on how to recognize bogus offers and counterfeit drugs.
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