Bondholders pulled the embattled lender CIT Group Inc. back from the brink of insolvency Monday with a $3 billion bailout deal, but the highly indebted company’s fight for long-term survival continues, leaving its vendor and retail clients to worry over future financing.
News of the capital injection, which CIT confirmed late Monday, boosted the firm’s shares on Wall Street. Investors cheered the additional breathing room and pushed the stock up 78.6 percent, or 55 cents, to $1.25 — still well below the $1.64 the stock fetched before the negotiations for a federal bailout failed. (For more on stocks, see page 14.)
"You start one way as a baby, but why shouldn't you be able to choose your own path as opposed to culturally people telling you which way to go?" - Thom Browne at his men's spring 2018 show, where he celebrated gender fluidity. #pfw #wwdmens (📷: @delphineachard)
"I think that all anyone really wants in life is to have people understand us for who we actually are, despite everything," says Ruth Negga. The actress talks "Preachers" season 2 and more on WWD.com. #wwdeye (📷: Dan Doperalski)