Business News Briefs: Conemaugh Health System bought by Duke LifePoint
March 14, 2014 10:34 PM
J Pat Carter/Associated Press
An employee loads live lobsters into a cargo truck for delivery to local cafes after leaving the Miami airport. The Producer Price Index for February dropped.
From staff and wire reports
Health system bought
Conemaugh Health System in Johnstown will be acquired by Duke LifePoint Healthcare, the two organizations announced Friday. Duke LifePoint has agreed to "invest more than half a billion dollars over the next 10 years to strengthen and grow Conemaugh," a press release said. Duke LifePoint, based in Tennessee, is a for-profit, fast-expanding venture of Duke University Health System and LifePoint Hospitals that operates nearly 60 hospitals.
Rite Aid looking desirable
A turnaround at Rite Aid Corp. that prompted Goldman Sachs Group Inc. to almost double its stock estimate is also turning the drugstore chain into a takeover candidate. The $6.5 billion Camp Hill, Pennsylvania-based company, which has been refinancing debt and remodeling stores, could interest CVS Caremark Corp. or Walgreen Co., BTIG LLC said.
Target says it ignored early signs of data breach
Target Corp. said in its annual report that a massive security breach has hurt its image and business, while spawning dozens of legal actions, and it noted it can’t estimate how big the financial tab will end up being. The disclosure Friday with the Securities and Exchange Commission came as the nation’s second-largest discounter said separately that security software picked up on suspicious activity after a cyberattack was launched, but it decided not to take immediate action. “With the benefit of hindsight, we are investigating whether, if different judgments had been made, the outcome may have been different.” Target spokeswoman Molly Snyder in a statement.
Dannon to reduce sugar in yogurt for kids
Dannon says it will cut back the amount of sugar in its yogurts intended for children. The company is also committing to having 75 percent of its yogurts be low fat or fat free by 2016, up from 68 percent.
Liberty Media drops bid to buy rest of Sirius
Liberty Media is dropping its bid to buy the rest of the satellite radio provider Sirius. Liberty Media owns 53 percent of Sirius stock.
Producer prices dip 0.1 percent in February
The producer price index, which measures price changes before they reach the consumer, dropped 0.1 percent in February, the Labor Department said Friday. That’s the first decline since November. Producer prices rose 0.9 percent from 12 months ago. That’s the smallest 12-month increase since last May.
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