U.S. May industrial output rises 0.6 percent

Bloomberg: Industrial production climbed more than forecast in May, a sign that gains in manufacturing are supporting growth as the U.S. economy picks up. Output at factories, mines and utilities rose 0.6 percent after a revised 0.3 percent drop in April that was smaller than previously estimated, according to a report  today from the Federal Reserve in Washington.

 

Medtronic to buy Covidien for $42.9 billion, move base to Ireland

Reuters: U.S. medical device maker Medtronic Inc. said on Sunday it had agreed to buy Covidien PLC for $42.9 billion in cash and stock and move its executive base to Ireland, where Covidien currently is located, in the latest transaction aiming for lower corporate tax rates abroad. While the deal will allow Medtronic to reduce its overall global tax burden, the Minneapolis-based company said it was driven by a complementary strategy with Covidien on medical technology rather than tax considerations.

 

Starbucks offering workers 2 years of free college

CNNMoney: Starbucks Corp. baristas working through college are about to get an extra boost from their employer. The company announced it will offer both full- and part-time employees a generous tuition reimbursement benefit that covers two full years of classes. The benefit is through a partnership with Arizona State University's online studies program. Employees can choose any of more than 40 undergraduate degrees, and aren't limited to business classes.