Borders Group, the second largest bookseller in the country, has turned the page into Chapter 11 bankruptcy today. The company announced its plans to close almost 200 stores and drastically cut its staff. Eve Troeh reports.
The U.S. Labor Department announced today that the producer price index rose more the 3.5 percent over the past year. Consumers are already feeling the jump in energy prices at the pump, as David Wyss explains.
The Bank of England will announce its outlook for U.K. growth and inflation today. Amid cost-of-living concerns, the central bank faces a tough decision: Is the economic recovery strong enough to handle an increase in interest rates in order to curb inflation? Christopher Werth has more.
Wednesday brought an end to the long-awaited deal between French pharmaceutical company Sanofi-Aventis and the U.S. biotech firm Genzyme. Sanofi will buy Genzyme for at least $20.1 billion. But the number could go higher if Genzym's drugs-in-development succeed when they go to market, as Eve Troeh explains.