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.)
Steve Aoki held a presentation, a runway show and outdoor concert for his men's line Dim Mak. Here's a look from his spring 2018 collection, which was titled "Paradise Found." #wwdfashion #wwdmens (📷: George Chinsee)
"It's really hard sometimes. I think I have a reputation for being really tough and aggressive and pushy but I really am a very shy person who wants to be liked, and that's the conflict constantly. There's something that takes hold - I want people to like me, I don't want to be mean - but if I see something that just cries out to be answered, I go for it," says renowned NBC News correspondent Andrea Mitchell. (📷: @axeldupeux)