IN BRIEF (Page 16)

CIT delays filing

Troubled lender CIT Group Inc said yesterday it has delayed filing its second-quarter report with regulators and said if it could not complete its debt tender or arrange other financing, it would file for bankruptcy.

CIT is still reviewing assets and businesses that it may sell as well as the related valuation adjustments that must be included in the quarterly report, it said in a filing with the US Securities and Exchange Commission. New York-based CIT, which last month secured $3 billion in emergency funding from bondholders, has been battling to restructure its debt and avoid bankruptcy.