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Wednesday, July 23, 2014

Takeover Digest- New York Times business news - July 23, (NYSE: CIT)

The following are the top stories on the New York Times business pages. Reuters has not verified these stories and does not vouch for their accuracy. * President Obama, citing a "skills gap" that prevents many unemployed workers from qualifying for new jobs, signed legislation on Tuesday to strengthen federal job-training programs. The new law seeks to impose more accountability on the federal-state training partnerships by requiring a "job-driven checklist" to ensure that federal money is used effectively and by providing data-driven tools to give workers better information about career prospects. (* On Tuesday, U.S. small-business lender CIT Group Inc said it would acquire the bank that rose from IndyMac's ashes - OneWest Bank Group LLC - paying $3.4 billion in cash and stock to its hedge fund and private equity owners. The deal illustrates how casualties of the financial crisis have moved on, and even prospered. (

CIT Group Inc. is a bank holding company (BHC) together with its owned subsidiaries (CIT), provides primarily commercial financing and leasing products and other services to small and middle market businesses across a range of industries. Shares of CIT traded higher by 10.83% or $4.76/share to $48.71. In the past year, the shares have traded as low as $41.06 and as high as $52.72. On average, 1897620 shares of CIT exchange hands on a given day and today's volume is recorded at 8974617.