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The New York Times and the Wall Street Journal reported that CIT Group, the retail and small business lender, reached a deal late Sunday to receive 3 billion U.S. dollars in rescue financing from a group of bondholders. The deal would give the company a chance to restructure its debt outside of bankruptcy.
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Traders work on the trading floor in New York Stocks Exchange, the United States, July 20, 2009. |
On economic news, the Conference Board's gauge of the economic outlook for the next three to six months increased 0.7 percent in June, beating expectations and reinforcing signs the economy may be emerging from the worst recession since World War II.
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Two monitors in New York Stocks Exchange shows the Dow Jones chart in New York, the United States, July 20, 2009. |
Oilfield services company Halliburton Co. said its profit tumbled 48 percent amid sluggish exploration and production activity, but the results were better than analyst forecasts.
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Traders work on the trading floor in New York Stocks Exchange, the United States, July 20, 2009. |