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
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
A volatile Monday session ended with stocks posting solid gains on positive earnings and economic data after retreating midday. Consumer spending, home sales and manufacturing activity showed unexpected strength, boosting the major indexes in the morning. Among company earning announcements, ...Read More
Nov. 2 (Bloomberg) -- U.S. stock-index futures rose,indicating the Standard & Poor’s 500 Index may rebound from itsworst week since May, as Ford Motor Co. posted earnings thatbeat estimates and investors speculated that a report will showmanufacturing expanded at the ...Read More
Nov. 2 (Bloomberg) -- Japan’s government bonds advanced bythe most in a month on speculation investors sought the relativesafety of debt after CIT Group Inc. filed for bankruptcy. Benchmark 10-year yields fell from near an 11-week high asthe Nikkei 225 Stock ...Read More
Nov. 2 (Bloomberg) -- CIT Group Inc.’s decision to seekcourt protection probably will keep money flowing to bondholdersand 1 million customers of the 101-year-old commercial lender.Shareholders and taxpayers won’t be as fortunate. CIT’s Chapter 11 bankruptcy may give bondholders new notesat ...Read More
Nov. 2 (Bloomberg) -- Japanese stockfutures and Australianshares dropped as U.S. consumer spending fell and CIT Group Inc.,a 101-year-old commercial lender, filed for bankruptcy, dampingconfidence the global economy is recovering. U.S.-traded receipts of Sony Corp., Japan’s biggestexporter of televisions, dropped 5.8 ...Read More
NEW YORK - Commercial lender CIT Group Inc. said yesterday that billionaire investor and bondholder Carl Icahn agreed to support the company's restructuring plan amid reports CIT may soon file for bankruptcy protection. Icahn also agreed to provide CIT with a ...Read More
* Holders of 90 pct of unsecured debt ok prepack bankruptcy * Results still being tabulated * Company expected to win necessary support for prepack * Icahn to provide $1 bln in credit * Icahn supports restructuring after company makes changes (Adds details on ...Read More
Oct. 30 (Bloomberg) -- U.S. stocks tumbled, ending a seven-month streak of gains for the Standard & Poor’s 500 Index, asdeclines in consumer confidence and spending and the threat of aCIT Group Inc. bankruptcy raised concern over the durability ofthe ...Read More
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