JPMorgan reported a third-quarter profit, as it moved past huge legal claims that caused it to book a rare loss in the same quarter last year.» Read More
CHICAGO, Oct 5- Sears Holdings Corp.' s deepening financial troubles have forced insurers and banks to raise the cost of guaranteeing payment to vendors, rattling the retailer's supply chain as the company heads into the key holiday season. In the past three weeks, the retailer twice has turned to its billionaire CEO Eddie Lampert's hedge fund for a cash infusion--...
U.S. companies' borrowing to spend on capital investment rose in August, the Equipment Leasing and Finance Association said. Washington- based ELFA, a trade association that reports economic activity for the $827 billion equipment finance sector, said credit approvals totaled 79.5 percent in August, down slightly from 80.3 percent in July.
*No significant likelihood of another bank deal- CEO John Thain. July 22- U.S. small-business lender CIT Group Inc said it would buy California bank OneWest Bank NA for $3.4 billion in cash and stock, a deal that will give CIT a more reliable source of funding.
July 22- U.S. small-business lender CIT Group Inc said it would buy regional lender OneWest Bank NA for $3.4 billion in cash and stock, its second deal in two months to boost its middle-market lending operations.
FARNBOROUGH, England, July 16- U.S. aircraft leasing firm CIT Group said on Wednesday it had agreed a deal for Rolls-Royce Trent 7000 engines to power 15 Airbus A330-900neo planes it recently ordered.
European shares closed higher, with earnings news from the U.S. and merger and acquisition activity helping bourses post healthy gains.
The arguments over whether Tim Geithner made the right move with the bailouts will only heat up as the midterm elections approach, Politico's Ben White says.
Even billionaires and business titans make mistakes. As zeroes attached to each mistake multiplied, so did the risk to their fortunes and reputations.
*Q1 earnings $0.55/ share vs est of $0.87. April 29- Small-business lender CIT Group Inc reported a lower-than-expected quarterly profit due to a drop in fee income and weaker margins resulting from the sale of non-strategic businesses, sending its shares down as much as 8 percent.
Some of Tuesday's midday movers:
April 29- CIT Group Inc's quarterly profit fell by a third as the small-business lender earned lower interest on loans. The lender's net income fell to $109.1 million, or 55 cents per share, in the first quarter ended March 31, from $162.6 million, or 81 cents per share, a year earlier.
April 29- CIT Group Inc reported a 33 percent fall in quarterly profit as the small-business lender earned lower interest and fees on loans. The lender's net income fell to $109.1 million, or 55 cents per share, for the first quarter ended March 31, from $162.6 million, or 81 cents per share, a year earlier. Total interest income fell about 9.4 percent to $323.3 million.
Investors will navigate a Fed meeting, an earnings flood, and significant economic data, but traders agree global tensions will continue to dominate the market.
The European Commission has outlined plans to crack down on banks' risky trading activities in an effort to put an end to lenders deemed "too big to fail."
Some of Tuesday's midday movers:
Traders are bracing for another rough ride in markets this week, as the emerging markets continue to shakeout and the Fed is expected to announce another round of cuts to its easing program.
HSBC said it had suspended two foreign exchange traders in London and Citigroup said it had put a pair of traders on leave.
Former U.S. Treasury Secretary Timothy Geithner is joining private equity firm Warburg Pincus.
Some of the names on the move ahead of the open.
Check out which companies are making headlines after the bell Monday: