Reuters well ahead on Borders loan repayment, access to new capital--shares soar 48 percent

Reuters beat rivals Bloomberg and Dow Jones by 85 minutes on March 31 in reporting that ailing U.S. bookseller Borders Group had repaid a loan to its biggest investor, hedge fund Pershing Square Capital Management, and secured access to more cash to meet future funding needs. The Reuters story helped spark a huge rally in which the company’s shares surged almost 48 percent on April 1 on volume that was more than seven times its 50-day moving average.