Mon, Jun 24, 2013 11:33 AM EDT 0:50
Hospital operator Tenet Healthcare Corp will buy smaller rival Vanguard Health Systems Inc for $4.3 billion including debt to expand into new geographies. The companies said the deal includes the assumption of $2.5 billion of debt. Erste Group Bank reversed guidance from just two months ago, saying it plans a cash call to help repay emergency state funding, and that operating profit will fall this year rather than hold steady. Wall Street awoke to a global meltdown on Monday after the People's Bank of China in effect told participants in the Chinese banking system that they would be left to their own devices in handling an apparent liquidity crisis.