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Stelco, Canada's largest steelmaker, announced yesterday that it will seek bankruptcy protection as part of efforts to restructure its money-losing business. Stelco racked up C$168 million (US$126m) in losses through the first three quarters of 2003. "We are taking this...
#bankruptcy#CIT#commercial finance
CIT Group posted a higher fourth-quarter profit, citing growth in its financing and leasing portfolio and a smaller proportion of…
#CIT#leasing
"HSBC's decision to exit the domestic factoring business was made as a result of our new strategic plan's emphasis on…
#bank#CIT#CIT Commercial Services
Next year will see a cut in the corporate income tax (CIT) from 27 per cent to 19 per cent,…
#bank#CIT#insolvency
CIT Group, the US-based commercial and consumer credit finance firm, announced yesterday that it is to centralise its European operations…
#CIT#small business
Executives at GM Acceptance Corporation, the financial arm of General Motors, are considering suing Bank of New York (BoNY) in…
#bank#CIT#commercial finance
CIT Group Inc (CIT) has announced that from 3 September 2003 Jeffrey M. Peek will become the company's president and…
#CIT#Credit Suisse#financial services
CIT Small Business Lending, a subsidiary of CIT Group Inc., announced another major addition to the organisation. John Little was…
#banks#CIT#small business
Fingerhut Direct announced today that it has negotiated a $100 million senior secured line of credit comprised of a revolving…
#acquisition#CIT#receivables
Lenders painted a less than rosy picture of the Florida lending market at the Florida Chapter Turnaround Management Association's meeting.…
#CIT#CIT Commercial Services#liquidity
More than half of the companies within the apparel and home goods industries have failed to diversify their customer base…
#CIT#credit protection#management
CIT Small Business Lending (SBL) Corporation, a New Jersey-based subsidiary of CIT Group Inc., (NYSE: CIT), and the nation's number…
#bank#CIT#leadership
CIT Commercial Services, a unit of CIT Group Inc. (NYSE: CIT), today announced that it has provided a $56 million…
#CIT#CIT Commercial Services#Letters of Credit