FTC

Two rival hospitals in Terre Haute, Indiana, pulled back their merger application Monday, just days before the state was due to rule on the deal amid growing backlash to such medical monopolies.

The Federal Trade Commission's ban on noncompetes would impact the health care industry when and if it goes into effect. Some in the industry are applauding the rule, while others are voicing their dismay and vowing to sue.

The Federal Trade Commission has voted to ban employment agreements that typically prevent workers from leaving their companies for competitors, or starting competing businesses of their own.