Borders files for Chapter 11 bankruptcy protection
Borders Group announces Chapter 11 filing as it closes stores and seeks debtor financing. It expects daily cash burn around $2 million while negotiating with creditors. plans to operate remaining stores and honor gift cards during reorganization aided by GE provided financing.
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Apple launches iPhone iPad subscription system for publishers
Apple Inc announced a subscription system for buying newspapers and magazines via iPhone and iPad apps. Publishers can sell weekly monthly or yearly access, replacing per issue purchases while governing customer data sharing with opt outs and limited Apple handling. Time Inc welcomed the change but raised questions about data access and publisher access.
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Scientists link extreme rain to global warming
A study ties heavier rainfall to climate change with researchers noting increased moisture and extreme events. The analysis highlights North America as a region with notable shifts in rainfall patterns and associated impacts on weather intensity.
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