BI’s Article search uses Boolean search capabilities. If you are not familiar with these principles, here are some quick tips.
To search specifically for more than one word, put the search term in quotation marks. For example, “workers compensation”. This will limit your search to that combination of words.
To search for a combination of terms, use quotations and the & symbol. For example, “hurricane” & “loss”.
(Reuters) — Sears Holdings Corp. shares slumped on Wednesday following a report that three of the biggest insurance firms for its suppliers were seeking to reduce coverage.
The report by Bloomberg News also said the move prompted at least one vendor to halt shipments to Sears.
Sears stock was down 12% to $26.67 after falling as much as 17.3%, which would be the largest daily percentage decline since November 2012. The slide dragged the stock near the $24.10 low hit two weeks ago, which was the lowest since January 2012.
In the past weeks, the retailer has twice turned to its billionaire CEO Eddie Lampert's hedge fund for a cash infusion, and insurers and banks had raised the cost of guaranteeing payment to vendors.
(Reuters) — Sears Holdings Corp.'s deepening financial troubles have forced insurers and banks to raise the cost of guaranteeing payment to vendors, rattling the retailer's supply chain as the company heads into the key holiday season.