The Buzz On Business

BORDERS' FATE TO BE DECIDED THIS WEEK

Borders Group is edging closer to extinction after no new bids surfaced Monday in an auction process for the bookstore chain, other than the opening bid from two liquidation firms. Borders Group, which helped pioneer the big-box bookseller concept and once operated more than 1,000 stores before shrinking to 400, last week assigned the opening bid in its auction process set for today to two liquidation firms. The move came after a bid fell through from private-equity firm Najafi Cos. If no other bids materialize, the auction will be canceled and a final court approval hearing on the liquidators' bid will be held Thursday.

CLOROX SAYS 'NO' TO ICAHN

Clorox Co. is turning down billionaire investor Carl Icahn's offer to buy the company, saying the price of $76.50 per share is too low. The Oakland company is also adopting a "poison pill" shareholder rights measure to ward off the bid from Icahn, who is the largest shareholder in Clorox. The company says it is committed to its strategy.

U.S. BUILDERS' OUTLOOK RISES

The outlook among U.S. home builders became a bit rosier in June but the future prospects for home construction are anything but promising. An index of builders' outlook for their industry in June rose two points to 15, the National Association of Home Builders said Monday. Any reading below 50 indicates negative sentiment about the housing market. The index hasn't reached 50 since April 2006, the peak of the housing boom. In May, builder sentiment hit its lowest level in nine months. It's still just seven points above the lowest reading on record, in January 2009. Cash-strapped builders are struggling to compete with deeply discounted foreclosures and short sales.

TRANSFORMERS SALES BOOST HASBRO

Talking cars aren't just big hits in movie theaters this summer, but in toy aisles as well. Strong demand for merchandise from "Transformers: Dark of the Moon" helped boost Hasbro Inc.'s second-quarter revenue up 23 percent, the toy maker said. The news comes after Hasbro's chief rival Mattel Inc. said Friday that it's "Cars 2" toys were big sellers. Hasbro said the movie has grossed $700 million globally, and has not yet opened in China and Japan. The brand has performed particularly well internationally, where the company has licensed everything from clothing to skateboards and bikes to video games.

HALLIBURTON EARNINGS GROW 54 PERCENT

The expansion of oil and natural gas drilling in North America continued to drive Halliburton Co. as its earnings jumped by nearly 54 percent in the second quarter. Revenue hit a company record for the period. The Houston oil services company on Monday kicked off earnings season for the industry with reported earnings of $739 million, or 80 cents per share, for the three months ended June 30.

GM TO UPDATE MICHIGAN PICKUP FACTORY

General Motors is spending $328 million to update a factory in Flint, Mich., where it will build the next generation of full-sized pickups. The investment will pay for equipment to build the new Chevrolet Silverado and GMC Sierra pickups, which are due in showrooms early in 2013. The investment is part of $2 billion GM is spending to create or retain 4,000 jobs in eight states over the next 18 months.