Daily business briefing: Chinese economy continues to weigh down stock market

June 24, 2013 

More signs of distress in China's economy and rising U.S. bond yields are weighing on U.S. stocks in early trading. The Dow Jones industrial average fell 160 points, or 1.1 percent, to 14,639 in the first few minutes of trading Monday. The Standard & Poor's index fell 24 points, or 1.2 percent, to 1,570. The Nasdaq composite fell 45 points, or 1.3 percent, to 3,312. To find out more, go to http://www.bnd.com/business. ...

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Twinkies are coming back to store shelves next month. Hostess has emerged form bankruptcy and is operating under new ownership, which plans to bring back the cream-filled sponge cake treats beginning July 15. To learn more, go to http://www.bnd.com/business. ...

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Members of the Illinois General Assembly will be taking one unpaid day off each month during fiscal year 2014. Gov. Pat Quinn signed a bill Saturday to enforce this and to prohibit cost-of-living pay raises for the year. ...

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The St. Louis Business Journal reports that Tenet Healthcare Corp., which owns Saint Louis University Hospital and Des Peres Hospital in St. Louis, has agreed to buy Vanguard Health Systems Inc. in a deal worth $4.3 billion. Dallas-based Tenet agreed to pay $21 per share in cash for Vanguard, as well as assume $2.5 billion in Vanguard debt. For more information, go to http://www.bizjournals.com/stlouis.

-- Will Buss, BND business writer

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