Daily Wrap Up – July 19

CIT said to reach deal, High Level UBS tax talks, India rejects Clinton push

 @ibtimes
on July 19 2009 10:40 PM

CIT reaches tentative deal with bondholders CIT has reached a tentative $3 billion deal with bondholders to provide financing to the U.S. lender, which faces a liquidity crunch. The company’s board members plan to meet late Sunday to discuss the terms of the deal, a source close to the situation tells Reuters.

High Level Talks set for U.S-UBS tax case The Swiss foreign minister will meet with U.S. Secretary of State Hillary Clinton on July 31, just ahead of a court ordered deadline to reach a settlement over a U.S. tax evasion case against Swiss bank UBS over thousands of the bank’s account holders, according to Reuters.

India Rejects Clinton's Carbon Request India on Sunday rejected an offer by U.S. Secretary of State Hillary Clinton to adopt lower carbon emissions. “There is simply no case for the pressure that we, who have been among the lowest emissions per capita, face to actually reduce emissions,” Jairam Ramesh, India’s environment minister told Clinton, according to the Financial Times.

Harry Potter Opens Big Warner Bros. Pictures said on Sunday it earned $159.7 million in the United States and Canada, the sixth-biggest five-day opening. The previous record of $381.7 million was held by Spider-Man 3 in 2007.

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