Financial news on March 1st, 2006

Business and Financial news
Angel Investment Group Looks at Energy Start-ups

A new angel investment group wants to find the next big company to emerge from the Pacific Northwest. And as its name suggests, the Northwest Energy Angel Group believes there is a big opportunity to help energy-related startups – from solar power to alternative fuel companies – grow their businesses. Go to Article from The […] Read more..

By WRITER - The New York Times

As Talks Drag, GM Pushes for GMAC Deal

General Motors is putting pressure on its investment bankers to reach the outline of a deal to sell a majority stake in its GMAC finance arm before its board meets Monday, according to The Financial Times. The unit could be worth $11.5 billion but that the slow progress of talks about a sale of GMAC […] Read more..

By WRITER - The New York Times

California Stem Cell Agency Fights for Life in Court

The financial future of California’s novel $3 billion human embryonic stem cell research institute went on trial Monday as three groups tried to block the state-funded research. Go to Article from The San Jose Mercury News » Read more..

By WRITER - The New York Times

HSBC in Corporate Shake-up

HSBC Holdings, Europe’s largest bank, has confirmed plans to restructure its corporate and investment banking divisions in a move that could see high-profile executive John Studzinski move to a new role. Go to Article from The Telegraph » Go to Article from The Times of London » Read more..

By DEALBOOK - The New York Times

Jury Is Told That Chief Backed Shifts in Enron Accounting

A former Enron executive on Tuesday gave the strongest testimony yet in the five-week-old trial that Jeffrey K. Skilling, the company’s former chief executive, signed off on a controversial accounting shift involving troubled trading contracts. The witness, David W. Delainey, who led the Energy Services unit at Enron, said that he initially resisted the idea […] Read more..

By WRITER - The New York Times

More About DealBook

New York Times to Launch ‘DealBook,’ New Financial News Report on the Web NEW YORK–(BUSINESS WIRE)–March 6, 2006–The New York Times announced today the launch of DealBook, a new online financial news report on featuring up-to-the-minute news and exclusives about Wall Street and corporate America. The continually updated report edited by Andrew Ross Sorkin, […] Read more..

By DEALBOOK - The New York Times

Senior Refco Executive Says Clients Knew Risks

A senior executive from Refco , the futures and commodities brokerage now in bankruptcy, said on Tuesday the company at times had borrowed much more than $1 billion against customer assets, but that clients should have known from their trading documents that it could happen. Go to Article from The Washington Post » Read more..

By WRITER - The New York Times

TD’s ‘Remarkable’ First Quarter Overshadows Potential Weakness

Toronto-Dominion Bank reported what its chief executive officer described as a “remarkable” first quarter yesterday, churning out $2.3-billion in profit, recording double-digit growth in its juggernaut Canadian retail operations, and turning in stellar trading results that underpinned a resurgent performance by its investment bank. Go to Article from The Globe and Mail » Read more..

By DEALBOOK - The New York Times

Stock Markets

Values are reported in US Dollars

StockTicker symbolOpenHighLowCloseVolume
Cisco SystemsCSCO20,4121,1220,3421,06160M
Oracle Corp.ORCL12,5012,8312,4912,8172.5M
General ElectricGE32,9733,0332,7032,7624.5M
HP Inc.HPQ33,1034,0633,1034,0514.8M
AT&T Inc.T27,6028,1827,6028,0913.5M
Wal-Mart StoresWMT45,5045,5145,0345,1512M
Abbott LaboratoriesABT44,1844,2043,4244,0011.5M
JPMorgan ChaseJPM41,2041,9441,1341,6310.5M
Home DepotHD42,1542,6941,5042,599.63M
Walt Disney & Co.DIS28,0028,1827,9328,099.22M
Verizon CommunicationsVZ33,9134,3633,8634,209.19M
Procter & GamblePG60,1860,4660,0260,119.16M
Bristol-Myers SquibbBMY23,0023,1422,7322,777.79M
Johnson & JohnsonJNJ57,6257,8257,4557,667.14M
UnitedHealth GroupUNH58,0558,4657,8458,435.29M
International Business MachinesIBM80,0180,8179,7879,905.17M
Gilead SciencesGILD62,3562,4960,8761,054.56M
Wells Fargo & Co.WFC64,4564,7864,3164,694.23M
United TechnologiesUTX58,5059,0958,4158,703.41M
Union PacificUNP88,6589,7288,5089,451.02M
Berkshire HathawayBRK.B2892,002901,002878,002891,5014.3K
Exchange Rates of March 1st, 2006
CurrenciesExchange Rates
US DollarJapanese Yen1 USD = 116,080 JPY1 JPY = 0,009 USD
US DollarCanadian Dollar1 USD = 1,135 CAD1 CAD = 0,881 USD
US DollarSwiss Franc1 USD = 1,313 CHF1 CHF = 0,762 USD
US DollarChinese Yuan1 USD = 8,035 CNY1 CNY = 0,124 USD
EuroJapanese Yen1 EUR = 138,310 JPY1 JPY = 0,007 EUR
EuroPound Sterling1 EUR = 0,681 GBP1 GBP = 1,468 EUR
EuroAustralian Dollar1 EUR = 1,599 AUD1 AUD = 0,625 EUR
EuroCanadian Dollar1 EUR = 1,352 CAD1 CAD = 0,740 EUR
EuroSwiss Franc1 EUR = 1,565 CHF1 CHF = 0,639 EUR
Pound SterlingAustralian Dollar1 GBP = 2,348 AUD1 AUD = 0,426 GBP
Pound SterlingCanadian Dollar1 GBP = 1,985 CAD1 CAD = 0,504 GBP
Pound SterlingSwiss Franc1 GBP = 2,297 CHF1 CHF = 0,435 GBP
Australian DollarCanadian Dollar1 AUD = 0,845 CAD1 CAD = 1,184 AUD
Australian DollarSwiss Franc1 AUD = 0,978 CHF1 CHF = 1,023 AUD

See what else happened on March 1st, 2006