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Borders stalls bill-paying to remain liquid
Ann Arbor, Mich. -- Borders Group Inc. said Sunday that payment of some bills due at the end of January is being delayed to help the book seller "maintain liquidity" while trying to complete a restructuring of its debt.
Last week, the company received a commitment for $550 million in financing from General Electric Capital, subject to conditions that include securing $175 million from other lenders and continuing to close stores.
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China fines Wal-Mart, Carrefour for overpricing
Beijing -- China said Wednesday it is fining Wal-Mart and Carrefour stores up to $75,900 for overpricing, expressing concerns about price inflation ahead of the impending Lunar New Year holiday.
A statement posted Wednesday on the National Development and Reform Commission website listed about a dozen stores across the country that engaged in overpricing, noting high charges on items ranging from underwear to dumpling powder.