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Stocks rise on reports CIT close to rescue – Wall Street

Posted on: July 21st 2009 in Press Releases.

NEW YORK (AP) — The stock market is extending a big rally from last week on more upbeat earnings and word that troubled lender CIT will avoid bankruptcy. Both the Dow Jones industrials and the Standard & Poor’s 500 index edged above their recent highs from mid-June on Mo…

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CITI bank Is Seeking Up to $3 Billion To Avoid a Bankruptcy Filing – Wall Street

Posted on: July 17th 2009 in Stock News.

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 over the next day, according to people close to the situation. A number of private equity firms and fixed incom…

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Slower US job losses; Is recession beginning to ease?

Posted on: June 7th 2009 in Press Releases.

Employers eliminated the fewest jobs in eight months in May, strengthening signs that the recession is easing, while a drop in wage growth offered a warning the recovery may be muted. Payrolls fell by 345,000, less than forecast, while the unemployment rate hit a 25-year high of 9.4 per …

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Upbeat economic data boosts Wall Street

Posted on: June 2nd 2009 in Press Releases.

NEW YORK (Reuters) – Stocks rallied on Monday as reassuring economic data spurred optimism the recession is abating, overshadowing a long-expected bankruptcy filing by General Motors. The U.S. manufacturing sector contracted in May but at a slower rate than expected and posted its …

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Second largest US mall owner General Growth files bankruptcy

Posted on: April 17th 2009 in Press Releases.

NEW YORK: General Growth Properties Inc, the second-largest U.S. mall owner, declared bankruptcy on Thursday in the biggest real estate failure in U.S. history. Ending months of speculation, General Growth, along with 158 of its 200-plus US malls, filed Chapter 11 while it tries to refin…

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