liquidation

Apparel maker Hanesbrands Inc. says restructuring charges and Mervyns' unexpected liquidation of its stores helped drive its third-quarter profit down 59 percent, but adjusted earnings beat Wall Street expectations.

Gold and platinum were dragged under Thursday, as fund liquidation and a rising U.S. dollar provided no mercy.

Gold touched below $700 for the first time since September of 2007 and platinum tumbled to its lowest level in more than four years.

New York gold and platinum futures plunged 2.8 and 5.2 percent, respectively. Silver inched slightly higher by 0.4 percent.

Ailing department store chain Mervyns LLC, which filed for Chapter 11 bankruptcy protection in July, is expected to announce as early as Friday that it plans to liquidate all of its stores, according to one source close to the situation.

Newspaper companies have been skipping loan payments, missing financial targets in debt agreements and accepting higher interest rates in exchange for more flexibility — and they're not even directly feeling the impact of the credit crisis yet.

Barclays, considered the leading contender for Lehman Brothers, said it could not reach a deal, and Lehman appeared headed toward liquidation.