WASHINGTON — The board of CIT Group Inc., one of the nation's largest lenders to small and midsize businesses, approved a deal with major bondholders to keep the company out of bankruptcy, said two people briefed on the talks.

CIT will receive a rescue loan from key bondholders hoping to keep it alive long enough to restructure its debt, these people said. They spoke on condition of anonymity because the company has not yet made an official announcement.

The deal will not necessarily prevent a bankruptcy filing for the ailing firm, but will give it desperately needed breathing room while it attempts to refinance existing debt. CIT has a $1 billion payment due in August.

VOTE ALLOWS PFIZER TO ACQUIRE WYETH

TRENTON, N.J. — Shareholders of drugmaker Wyeth yesterday voted overwhelmingly to be bought by industry giant Pfizer Inc., pushing aside one of the deal's final hurdles.

More than 98 percent of Wyeth stockholders voted for the $68 billion acquisition, which will solidify Pfizer's standing as the top-selling drugmaker in the world.

The deal transforms New York-based Pfizer overnight from being primarily a maker of the blockbuster pills to a one-stop shop for medical treatments.

That's because Wyeth, the No. 12 drugmaker, brings multibillion-dollar products and substantial expertise in creating and manufacturing biologic drugs, vaccines, nonprescription medicines and animal health products.

INDICATORS POINTING TO RECESSION'S END

NEW YORK — More plans to build homes, higher stock prices and fewer people filing first-time claims for jobless aid sent a private-sector forecast of U.S. economic activity higher than expected in June.

It was the third straight monthly increase for the New York-based Conference Board's index of leading economic indicators, and another sign pointing toward the recession ending later this year.

The index rose 0.7 percent last month. Wall Street analysts polled by Thomson Reuters expected a gain of 0.4 percent. May's reading was revised up to a gain of 1.3 percent from 1.2 percent, while April was scaled back to 1 percent growth from 1.1 percent.

MELTDOWN COST U.S. $4.7 TRILLION SO FAR

WASHINGTON — The federal government has devoted $4.7 trillion to help the financial sector through its crisis, a watchdog report said yesterday.

Under the worst of circumstances, the report said, the government's maximum exposure could total nearly $24 trillion, or $80,000 for every American.

The figures are part of a tough new quarterly report to Congress from special inspector general Neil Barofsky, who accuses the Treasury Department of repeatedly failing to adopt recommendations aimed at making one component of the government financial rescue effort more accountable and transparent.