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01 Nov 2009 15:52
, Nov 01 18:52, Nov 01 23:52, Nov 02 08:52CIT Files for Bankruptcy, U.S. Is Unlikely to Recoup $2.3 Billion Bailout CIT Group Inc., a 101-year-old commercial lender, filed for bankruptcy to cut $10 billion in debt after the credit crunch dried up its funding and a U.S. bailout and debt exchange offer failed.
Denbury to Acquire Oil and Gas Producer Encore in $4.5 Billion Transaction Denbury Resources Inc., a Plano, Texas-based oil and natural-gas producer, said it will purchase Encore Acquisition Co. for about $4.5 billion, including the assumption of debt.
Japan Futures, Australia Stocks Fall on U.S. Consumer Spending; Sony Drops Japanese stock futures and Australian shares dropped as U.S. consumer spending fell and CIT Group Inc., a 101-year-old commercial lender, filed for bankruptcy, damping confidence the global economy is recovering.
Chinese manufacturing data for October showed the nation’s economic recovery is strengthening, giving policy makers more room to pare stimulus measures in coming months.
Yen Rises to 3-Week Highs Against Dollar, Euro on CIT, Global Stocks Rout The yen rose to the most in almost three weeks against the dollar and the euro after New York-based CIT Group Inc. filed for bankruptcy, boosting demand for Japan’s currency as a shelter from financial turmoil.
Afghan Candidate Abdullah's Election Pullout Adds Risk for Karzai, Obama Afghan President Hamid Karzai’s remaining challenger withdrew from the country’s runoff election, citing fraud that has marred voting and undermined U.S. hopes for a stronger government to help fight the Taliban.
Secretary of State Hillary Clinton, on a Mideast trip to revive stalled peace talks, commended Israel’s “unprecedented” offer to limit construction of Jewish settlements, while Palestinians maintained their demand for a total building freeze.
Blankfein, Pandit, Winfrey Were Among Early Visitors to Obama White House Goldman Sachs Group Inc. Chief Executive Officer Lloyd Blankfein, Citigroup Inc. CEO Vikram Pandit and television talk-show host Oprah Winfrey were among White House visitors during President Barack Obama’s first six months in office, records released by the administration show.
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