Financial news on June 1st, 2010

Business and Financial news
Dubai Holding Reports $6.2 Billion 2009 Loss

The Dubai Holding Commercial Operations Group, a real-estate and hospitality company owned by the emirate’s ruler, reported a full-year loss of 22.8 billion dirhams ($6.2 billion) after property prices plunged in the Gulf’s trade and tourism hub. Read more..

By DEALBOOK - The New York Times

E.C.B.’s Report Issues Warning for Banks

Borrowing costs could rise as European banks compete with governments in the bond market. Read more..

By DEALBOOK - The New York Times

Fitch Downgrades Spain’s Credit Rating

The Fitch ratings firm announced Friday that it had downgraded Spain’s credit rating by one notch, sending indexes on a swift decline of more than 1 percent. Read more..

By DEALBOOK - The New York Times

Honda Plans to Raise Pay at a Factory in China

A strike for higher wages, which began May 22, has idled work at four other Honda assembly plants in China. Read more..

By BLOOMBERG NEWS - The New York Times

India Posts 8.6% Economic Growth, a 2-Year High

Growth for the year ended March 31 was 7.4 percent, beating a government forecast of 7.2 percent. Read more..


In Review, Europe Accuses China of Protectionism

China is failing to carry out its pledges to liberalize its economy and open its markets to foreign companies, according to the European Union. Read more..

By BLOOMBERG NEWS - The New York Times

K.K.R. and Tenet Said to Join Race for Healthscope

A three-way bidding war appears to have broken out for Healthscope, with Kohlberg Kravis Roberts and Tenet Healthcare reportedly joining the race to buy the Australian hospital operator. Read more..

By DEALBOOK - The New York Times

Summer of Full Flights and High Fares

Demand for business and leisure travel is expected to be stronger this summer, meaning passengers will be fighting for seats that were cut significantly in the recession. Read more..

By JANE L. LEVERE - The New York Times

The Transatlantic Crisis: Europe’s Endangered Banks

Europe’s troubles have not yet hurt banks in the United States, but it would be foolhardy to assume this problem is far away, The New York Times’s editorial board argues. Read more..

By DEALBOOK - The New York Times

U.S. Bank Failure Total Rises to 77

Regulators on Friday shut down three affiliated banks in Florida and one each in Nevada and California, bringing the number of bank failures this year to 78. Read more..

By DEALBOOK - The New York Times

Stock Markets

Values are reported in US Dollars

StockTicker symbolOpenHighLowCloseVolume
General ElectricGE16.2416.5115.9315.9873.1M
Cisco SystemsCSCO22.9423.4822.9223.0056.3M
Wells Fargo & Co.WFC28.6829.2028.1928.2339.5M
JPMorgan ChaseJPM39.3239.9638.5038.5437.8M
Oracle Corp.ORCL22.4222.8422.1522.2032.3M
AT&T Inc.T24.2724.8024.1224.3329.7M
Johnson & JohnsonJNJ58.2159.4157.5558.7619.5M
Abbott LaboratoriesABT47.4447.7246.9046.9418.3M
HP Inc.HPQ45.8546.5745.5045.5817.8M
Home DepotHD33.4234.1733.2233.5417.3M
Wal-Mart StoresWMT50.8051.5150.5250.9216.1M
Walt Disney & Co.DIS33.0633.8732.8533.3315.4M
Verizon CommunicationsVZ27.3027.7327.2127.2115.4M
Procter & GamblePG60.8961.7460.5261.1615.3M
Bristol-Myers SquibbBMY23.1123.4722.9023.0210.7M
Gilead SciencesGILD35.8236.2935.4135.439.47M
Union PacificUNP70.5672.4170.2770.318.42M
UnitedHealth GroupUNH29.1829.6128.8928.988.18M
International Business MachinesIBM124.69126.88124.20124.347.14M
Berkshire HathawayBRK.B70.0571.9469.9570.265.38M
United TechnologiesUTX66.5967.4765.9366.055.13M
Exchange Rates of June 1st, 2010
CurrenciesExchange Rates
US DollarJapanese Yen1 USD = 90.990 JPY1 JPY = 0.011 USD
US DollarCanadian Dollar1 USD = 1.054 CAD1 CAD = 0.949 USD
US DollarSwiss Franc1 USD = 1.157 CHF1 CHF = 0.864 USD
US DollarChinese Yuan1 USD = 6.829 CNY1 CNY = 0.146 USD
EuroJapanese Yen1 EUR = 111.090 JPY1 JPY = 0.009 EUR
EuroPound Sterling1 EUR = 0.834 GBP1 GBP = 1.199 EUR
EuroAustralian Dollar1 EUR = 1.470 AUD1 AUD = 0.681 EUR
EuroCanadian Dollar1 EUR = 1.287 CAD1 CAD = 0.777 EUR
EuroSwiss Franc1 EUR = 1.413 CHF1 CHF = 0.708 EUR
EuroChinese Yuan1 EUR = 8.336 CNY1 CNY = 0.120 EUR
Japanese YenPound Sterling1 JPY = 0.750 GBP1 GBP = 1.333 JPY
Japanese YenAustralian Dollar1 JPY = 1.323 AUD1 AUD = 0.756 JPY
Japanese YenCanadian Dollar1 JPY = 1.159 CAD1 CAD = 0.863 JPY
Japanese YenSwiss Franc1 JPY = 1.272 CHF1 CHF = 0.786 JPY
Pound SterlingAustralian Dollar1 GBP = 1.762 AUD1 AUD = 0.567 GBP
Pound SterlingCanadian Dollar1 GBP = 1.544 CAD1 CAD = 0.648 GBP
Pound SterlingSwiss Franc1 GBP = 1.695 CHF1 CHF = 0.590 GBP
Pound SterlingChinese Yuan1 GBP = 9.980 CNY1 CNY = 0.100 GBP
Australian DollarCanadian Dollar1 AUD = 0.876 CAD1 CAD = 1.142 AUD
Australian DollarSwiss Franc1 AUD = 0.961 CHF1 CHF = 1.041 AUD
Australian DollarChinese Yuan1 AUD = 5.665 CNY1 CNY = 0.177 AUD
Canadian DollarSwiss Franc1 CAD = 1.098 CHF1 CHF = 0.911 CAD
Canadian DollarChinese Yuan1 CAD = 6.470 CNY1 CNY = 0.155 CAD
Swiss FrancChinese Yuan1 CHF = 5.896 CNY1 CNY = 0.170 CHF

See what else happened on June 1st, 2010