Tuesday, 13 Oct 2009 | Source: The Associated Press
CIT Group Inc., a major business lender that's been devastated by the downturn in the credit markets, said Tuesday its chairman and CEO will resign at the end of the year.
Stocks ended lower Friday as a dismal jobs report capped a string of disappointing economic reports this week, which cast doubt on the recovery. It was the market's second straight down week in which stocks have lost more than 3 percent.
Stocks tried to push higher Friday as the dollar's retreathelped the market but investors remained worried about the recovery in the wake of some disappointing economic reports.
Thursday, 17 Sep 2009 | Source: The New York Times
Treasury officials want to require the corporate owners of the nation’s 41 industrial banks to accept more rigorous regulation or be forced to sell or shut them down.
Monday, 27 Jul 2009 | Source: The Associated Press
As the effects of the economic collapse began pouring down Main Street, the government last year was left holding a record $2.1 billion in write-offs of small business loans it had guaranteed.
80 percent of small businesses are unable to obtain adequate financing, and 75 percent have not seen an impact from the economic stimulus, according to the National Small Business Assocation's mid-year economic report.
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.
Tuesday, 21 Jul 2009 | Source: The Associated Press
CIT Group Inc. said in a regulatory filing Tuesday that it might have to file for bankruptcy protection if not enough bondholders participate in a recently launched debt exchange.
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.
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.