CIT Group loses $1 billion in 4th quarter due to low finance revenue, high borrowing costs CIT Group on Tuesday said it lost $1 billion in the fourth quarter, excluding a huge one-time reorganization benefit. The company also recorded a full-year loss ...
CIT Group expects $900M fourth-quarter loss, $4B for year, but bankruptcy reorg should offset CIT Group Inc., a commercial lender forced into bankruptcy protection last year as customers fell behind on repaying loans, said Monday that it expects to report a loss ...
<div><p>CIT Group, one of the largest small-business lenders in the United States, filed for bankruptcy Sunday with its board approving a "prepackaged" restructuring plan to shed 10 billion dollars in debt.</p><p>After being rescued from almost certain collapse in July following a US ...
<div id="subtitle">CIT Group's fate rests in hands of customers as it enters into bankruptcy protection</div><div><p>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 ...
<div><p>CIT Group, a key lender to small US firms, declared itself bankrupt becoming the fifth largest failure in American history and dealing a new blow to market nerves.</p><p>CIT said late on Sunday it has agreed a restructuring plan with creditors that will ...
<div><p>CIT Group, a key lender to small US firms, declared itself bankrupt becoming the fifth largest failure in American history and dealing a new blow to market nerves.</p><p>CIT said late on Sunday it has agreed a restructuring plan with creditors that will ...
<div><p>CIT Group, a key lender to small US firms, has declared itself bankrupt becoming the fifth largest failure in American history and dealing a new blow to market nerves.</p><p>CIT said late Sunday it has agreed a restructuring plan with creditors that will ...
<div><p>Asian stock markets tumbled on Monday with investors rattled by the bankruptcy of US bank CIT and sharp pre-weekend falls on Wall Street, but Europe edged up on bargain-hunting, analysts said.</p><p>Tokyo ended down 2.31 percent, Sydney dropped 2.21 percent and Hong Kong ...
<div><p>The dollar fell against the euro on Monday amid fresh worries about the US financial sector following the bankruptcy of US bank CIT Group over the weekend.</p><p>In late morning London deals, the European single currency rose to 1.4772 dollars from 1.4715 dollars ...
<div><p>CIT Group, a key lender to small US firms, has declared itself bankrupt becoming the fifth largest failure in American history and dealing a new blow to market nerves.</p><p>CIT said late Sunday it has agreed a restructuring plan with creditors that will ...
