Business Events Bankruptcy

  • Tiger Woods & GM

    General Motors will end its half-century run as sponsor of the Buick Open golf tournament as it tries to focus scarce marketing dollars on its cars and trucks, a person briefed on the decision said Tuesday.

  • Years of state and federal neglect have hobbled the nation’s unemployment system just as a brutal recession has doubled the number of jobless Americans seeking aid, the New York Times reported.

  • A late rally pushed stocks higher Tuesday following better-than-expected earnings from several Dow components. The Dow logged its seventh-straight gain, the Nasdaq, it's tenth.

  • The Dow advanced Tuesday as a slew of components beat earnings expectations. But there were pockets of weakness throughout the market, including chips, hardware, banks and retail. The Nasdaq was lower.

  • GM auto dealership with sign.

    The Obama administration warned Congress on Tuesday that a House-approved plan to restore shuttered General Motors and Chrysler dealerships would threaten the auto companies' bankruptcies and recovery.

  • The Dow bolted out of the gate Tuesday as a slew of components beat earnings expectations. But there were pockets of weakness throughout the market, including chips, hardware, banks and retail. The Nasdaq was lower.

  • Futures indicated a slightly lower open for Wall Street Tuesday ahead of a slew of earnings and Federal Reserve Chairman Ben Bernanke's Capitol Hill testimony.

  • bank_crisis_03.jpg

    With bondholders coming to the rescue of troubled commercial lender CIT Group, and not the government, a new reality is setting in for investors. With federal bailouts drying up and the economy still in distress, many more financial firms could face bankruptcy. When they do, it will be major private lenders that will have to decide whether to rescue the companies or allow them to fail.

  • CIT Group entrance

    Commercial lender CIT Group  confirmed late Monday that it has secured a $3 billion bailout from its bondholders, saving the company from bankruptcy protection.

  • Stocks rallied to the finish line Monday after a wobbly morning as a CIT deal to avert bankruptcy and strong earnings gave investors cause for optimism.

  • A strong start for stocks began to peter out Monday, though CIT continued to rally.

  • Stocks opened higher Monday as investors were cheered by news of a deal that will avoid bankruptcy for commercial lender CIT Group and a better-than-expected start the earnings season.

  • Futures indicated a positive open for Wall Street Monday as investors were cheered by news of a deal that will avoid bankruptcy for commercial lender CIT Group.

  • The Dow turned lower again in late morning trading as investors continued to digest earnings reports from a slew of top-tier companies.

  • The Dow turned lower again in late morning trading as investors continued to digest earnings reports from a slew of top-tier companies.

  • Stock futures pointed to a lower opening Friday as traders took a mostly dim view of earnings from General Electric and Bank of America.

  • The difficulties faced by CIT Group may help GE Capital as it will allow GE's finance unit more room to diversify, two analysts told CNBC Friday.

  • cit_logo.jpg

    CIT, the finance company struggling to avoid a Chapter 11 filing as soon as tomorrow, is seeking to line up between $2 to $3 billion in secured financing from private investors, CNBC has learned.

  • A bankruptcy filing for CIT is likely, sources have told CNBC, but the debate on whether CIT should receive a government bailout or be allowed to fail is still up for discussion by many CEOs and financial analysts.

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    As CIT works to avoid bankruptcy, many who track the retail industry are concerned that CIT's troubles will set off a chain reaction that will leave retailers in the lurch during the critical holiday season.