CIT files for Chapter 11 bankruptcy protection WASHINGTON - After struggling for months to avert bankruptcy, lender CIT Group has filed for Chapter 11 protection in an attempt to restructure its debt while trying to keep badly needed loans flowing to thousands of mid-sized and small businesses. Ford taps China's Geely as favored bidder for Volvo WASHINGTON (AFP) - Ford Motor Co., the number-two US automaker, said Wednesday it had tapped Chinese peer Geely as preferred bidder for Volvo Cars, its premium Swedish nameplate. Feds: Leader of radical Islam group killed in raid DETROIT - Federal authorities on Wednesday arrested several members of a radical Sunni Islam group in the U.S., killing one of its leaders at a shootout in a Michigan warehouse, the U.S. attorney's office said.
Heidi Fleiss arrested for drug possession Former Hollywood madam Heidi Fleiss was arrested and charged with possession of prescription drugs and driving under the influence on Thursday morning outside Las Vegas.