Omnicare Inc. said Tuesday it's giving up on its hostile bid to acquired fellow long-term pharmacy operator PharMerica Corp. after antitrust regulators opposed the deal.

A provision in Senate legislation that had investment advisors up in arms because it would reduce the value of inherited IRAs has been removed.

President Barack Obama on Wednesday proposed a lower corporate tax rate and an end to dozens of loopholes he said helps companies move jobs and profits overseas. "It's not right and it needs to change," he said.

Ford Motor Co. says it will pump $3.8 billion into its global pension plans this year as it tries to get them closer to fully funding their obligations.