Reuters: Financial Services and Real Estate

CIT failure would chill US restaurant operators

Thu, 16 Jul 2009 22:45:24 +0100

LOS ANGELES, July 16 (Reuters) - A potential bankruptcy of CIT Group Inc would be another blow to restaurant operators and other franchisees by removing yet another funding source at a time when many large banks have frozen lending.

UPDATE 6-CIT bankruptcy fears pummel its bonds and shares

Thu, 16 Jul 2009 22:39:22 +0100

* Five pct notes due 2014 slump to 53 cents on the dollar

UPDATE 1-Brookline Q2 profit jumps 27 percent

Thu, 16 Jul 2009 22:37:02 +0100

* Provision for credit losses $1.9 mln vs $2.6 mln yr ago

UPDATE 2-Lawmakers slam Paulson on BofA-Merrill deal

Thu, 16 Jul 2009 22:15:17 +0100

WASHINGTON, July 16 (Reuters) - U.S. lawmakers on Thursday ripped into former Treasury Secretary Henry Paulson over the government's role in Bank of America's merger with Merrill Lynch and other actions to cope with the deep financial crisis that gripped the country last year.

UPDATE 1-Fitch, S&P see CIT bankruptcy in near-term

Thu, 16 Jul 2009 21:59:11 +0100

NEW YORK, July 16 (Reuters) - Ratings on lender CIT Group Inc were cut further into junk status by all three major rating agencies on Thursday on growing bankruptcy concerns.

UPDATE 1-Tempur-Pedic Q2 beats Street, backs '09 view; shrs jump

Thu, 16 Jul 2009 21:50:22 +0100

* Q2 EPS $0.22 vs est $0.18 * Q2 sales $185.2 mln vs est $172.8 mln * Backs fiscal 2009 view

CIT Group bondholders holding emergency call-source

Thu, 16 Jul 2009 21:48:46 +0100

NEW YORK, July 16 (Reuters) - Many of CIT Group Inc's largest bondholders are holding an emergency conference call on Thursday afternoon to discuss their options, as the large lender to small and mid-sized businesses teeters on the brink of collapse, a person familiar with the matter said.

UPDATE 1-People's United Q2 profit down 36 pct, beats Street

Thu, 16 Jul 2009 21:46:15 +0100

July 16 (Reuters) - People's United Financial Inc posted a 36 percent fall in second-quarter profit, hurt by margin pressure, but still managed to beat analysts' estimates.

UPDATE 1-Banco Popular parent posts 4th straight loss

Thu, 16 Jul 2009 21:38:22 +0100

NEW YORK, July 16 (Reuters) - Popular Inc , the parent of Banco Popular, posted its fourth straight quarterly loss, hurt by a deteriorating housing market in Puerto Rico and an increase in bad loans.

UPDATE 1-Visa deposits $700 mln in litigation fund

Thu, 16 Jul 2009 21:36:31 +0100

NEW YORK, July 16 (Reuters) - Visa Inc , the world's largest credit card network, said on Thursday it deposited $700 million in an account to cover legal expenses.