SAN FRANCISCO—Wal-Mart Stores Inc., the world's biggest retailer, is offering its clothing vendors a faster way to get paid that could change how struggling retailers and vendors do business together. Wal-Mart, based in Bentonville, Ark., told its more than 1,000 clothing ...Read More
Daniel Acker, Bloomberg NewsCIT headquarters in New York.Staff and wire reportsNEW YORK — CIT Group Inc., the bankrupt 101-year-old commercial lender, sought a judge's permission to borrow another $500 million and block some lenders' demands as it acknowledged challenges to ...Read More
Nov. 3 (Bloomberg) -- The timing of CIT Group Inc.’sbankruptcy filing may have helped U.S. retailers avoid a holidayseason with empty shelves. “Most retailers have dodged a bullet,” said CraigShearman, a spokesman for the National Retail Federation. “Mostof the merchandise for ...Read More
On the heels of its bankruptcy filing, CIT Group Inc.'s future as a commercial lending giant will be determined by the confidence of its creditors and customers.
The 101-year-old lender's months-long financial struggles already have been a boon to rivals, which ...Read More
NEW YORK - A Chapter 11 filing usually means the end of the road for financial companies since they rely so heavily on customer trust. CIT Group Inc. is hoping that its case will be different. The commercial lender's trip through ...Read More
NEW YORK (Reuters) - CIT Group Inc (CIT.N) is looking for a quick exit from Chapter 11 protection but its long-term survival outside of bankruptcy depends in large part on what regulators will allow it to do with its various ...Read More
(The following statement was released by the rating agency) Nov 2 - Standard & Poor's Ratings Services today said it is reviewing theimpact that CIT Group Inc.'s (CIT.N) Nov. 1, 2009, Chapter 11 bankruptcy filingwith the U.S. Bankruptcy Court (Southern ...Read More
U.S. stocks traded lower Monday as the Dow Jones Industrial Average dropped 11 points to 9702, the S&P 500 fell 5 points to 1031 and the Nasdaq Composite declined 14 points to 2030. Among the companies whose shares are actively ...Read More
Stocks are rising in early trading as investors await key reports on manufacturing and housing. A surprise profit from Ford Motor Co. is helping to support the early gains. Ford says deep cost cuts and the government's Cash for Clunkers rebates ...Read More
NEW YORK, Nov 2 (Reuters) - CIT Group's (CIT.N) bondsrose on Monday, a day after the lender filed a prepackagedbankruptcy that will pay bondholders about 70 cents on thedollar plus new shares, according to data from MarketAxess. CIT's 5.6 percent notes ...Read More
- Next
