Bloomberg The parent of the Office Depot retail chain plans to split into two publicly traded companies, reshaping the company as rival Staples pursues an acquisition. ODP Corp said it would retain its retail consumer and small-business products and services, while separating its Business Solutions Division contract unit and independent regional office-supply distribution operations. The transaction, expected to be completed ...

Bloomberg President Joe Biden is preparing for his first face-to-face meeting with the top two congressional Republicans, Mitch McConnell and Kevin McCarthy, just as the GOP is ramping up opposition to his $4 trillion economic plan, a rallying point for the party amid infighting over allegiance to former President Donald Trump. After McConnell declared that he’s “100%” focused on blocking ...

Bloomberg The Philippines plans to convert a South China Sea island into a military hub amid rising tensions with China. The Philippine military will ask President Rodrigo Duterte to fund a logistics hub on Thitu Island, its chief General Cirilito Sobejana said, as the nation seeks to sustain patrols in the South China Sea. It’s also planning to place high-resolution, ...