P& G Takeover? Duane Reade Changes

NY Money Authority headlines for Monday, August 24.

PROCTER & GAMBLE TAKEOVER? Procter and Gamble's prescription drug business could soon have a new owner. A report from the Wall Street Journal says 'Warner Chilcott' -- a specialty drug maker- could announce a $3-billion takeover of P&G. Last year, Procter and Gamble said it was interested in leaving the prescription drug business. They're known for producing women's osteoporosis treatment -- Actonel and overactive bladder treatment Enablex.

NO COST OF LIVING ADJUSTMENT: Social security recipients face shrinking payments. For the first time in a generation, there won't be a cost of living adjustment for the next two years. That's according to the trustees who oversee Social Security. While benefits won't actually be decreasing -- Medicare costs -- which are often deducted from Social Security checks are expected to go up slightly -- dropping monthly payments for millions of people.

DUANE READE CHANGES: Getting a face lift. You may have already noticed some of its stores getting an updated look. The chain has plans to reportedly modernize more than 100 of its 253 locations in the city. The changes include simpler store layouts, improved lighting and better customer service.