Office Depot to close 400 U.S. stores, shares rise

Reuters: Office Depot Inc. raised its forecast for full-year adjusted operating income and said it would close at least 400 stores in the United States over two years. The announcement sent the office supply retailer's shares up about 10 percent before the bell. The company, which also reported better-than-expected quarterly results due to cost cutting, said it would shut 150 stores this year.

 

Merck sells consumer unit to Bayer for $14 billion

CNNMoney: New Jersey-based Merck & Co. has sold its consumer care brands to Germany's Bayer AG for $14.2 billion, the latest deal in a wave of mergers and acquisitions sweeping the health care industry. Notable Merck brands include Coppertone, Claritin and Dr. Scholl's. Bayer said the deal would add $2.2 billion in annual sales to its nonprescription business, making it the second biggest provider of over-the-counter products worldwide.

 

Climate change affecting every region of US

The Hill: A new White House report released Tuesday concludes that human-generated climate change is having dramatic effects on every part of the nation. The National Climate Assessment, which the administration touted as the most comprehensive look yet at global warming in the U.S., concludes that climate change is raising temperatures, making water more scarce and wildfires more common. It said climate change has "moved firmly into the present" for the U.S., underscoring the need for urgent action to combat threats.