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Michael Phelps is almost done at the U.S. Olympic swimming trials. The superstar has one bit of unfinished business: the 100 butterfly and a showdown with world recordholder Ian Crocker.

CIT agrees to sell home lending business (Banking Business Review)
CIT Group, a commercial finance company, has agreed to sell its home lending business, consisting of $9.3 billion in assets and related servicing operations, to Lone Star Funds for $1.5 billion in cash and the assumption of $4.4 billion of outstanding debt and other related liabilities.

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Flying Brands to close Greetings Direct business (ShareCast via Yahoo! UK & Ireland Finance)
Jersey-based home shopping group Flying Brands is to close down its Greetings Direct business after expansion plans in the US flopped.

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