Financial news on October 1st, 2010

Business and Financial news
A.I.G. Will Not Have to Pay Out for Madoff Losses

American International Group need not make payments to some former Bernard Madoff clients who said their homeowner insurance policies entitled them to coverage for alleged losses, a judge ruled, Reuters reported. Read more..

By DEALBOOK - The New York Times

Anderson Cooper Will Host a Daytime Talk Show

As part of the search for the next Oprah, Anderson Cooper, who hosted the reality show “The Mole,” will get his own venue. Read more..

By BRIAN STELTER - The New York Times

BHP Poised to Challenge Potash Suit

BHP Billiton said Friday that it expected to file a challenge within the day to Potash Corporation of Saskachewan’s lawsuit trying to block its $39 billion hostile offer. Read more..

By DEALBOOK - The New York Times

Cautious Stock Positions May Be Overdone

Stocks have been a disappointment over the last decade, but some analysts think earnings next year will finally surpass the 2006 peak. Read more..


Chrysler I.P.O. to Come in More Than 1 Tranche

Chrysler’s I.P.O. is expected in the second half of 2011 and it will be in more than one tranche, the American automaker’s chief executive, Sergio Marchionne, said on Friday. Read more..

By DEALBOOK - The New York Times

Former SAP Chief to Lead Hewlett-Packard

Léo Apotheker succeeds Mark V. Hurd, who resigned after an investigation into sexual harassment allegations. Read more..

By ASHLEE VANCE - The New York Times

Magazine Association Renames Itself

The Magazine Publishers of America will become MPA — the Association of Magazine Media (dash and all) to help highlight ways to connect with magazines beyond the printed page. Read more..

By STUART ELLIOTT - The New York Times

Official Says J.&J. Plants Had Widespread Failings

The F.D.A.’s principal deputy commissioner contradicted assertions by Johnson & Johnson executives that the problems had been more limited. Read more..

By REED ABELSON - The New York Times

Stockpile of Dollars Drives China’s Energy Strategy

Sinopec’s $7.1 billion investment in Repsol’s Brazilian subsidiary is the latest in a string of energy deals in which the Chinese are recycling their enormous stockpile of dollars. Read more..

By CYRUS SANATI - The New York Times

U.N. Agency Warns of Dangers of Slow Job Growth

Job creation in advanced economies in the wake of the global economic crisis is increasingly being delayed, bringing a heightened threat of social unrest. Read more..

By MATTHEW SALTMARSH - International Herald Tribune

Stock Markets

Values are reported in US Dollars

StockTicker symbolOpenHighLowCloseVolume
HP Inc.HPQ41.2141.2940.2540.7763M
Cisco SystemsCSCO21.9022.2221.7821.9142.2M
JPMorgan ChaseJPM38.3439.0938.2938.8139M
Oracle Corp.ORCL27.1827.6127.1427.2433.7M
Wells Fargo & Co.WFC25.3025.6925.1225.5632.1M
AT&T Inc.T28.8528.9628.6628.8122.2M
Verizon CommunicationsVZ32.7832.9732.6532.8914.5M
Walt Disney & Co.DIS33.3033.5833.1233.3412.9M
General ElectricGE16.4016.5316.2716.3611M
Procter & GamblePG60.0960.3759.9560.1610.3M
Abbott LaboratoriesABT52.5452.5852.1252.589.92M
Johnson & JohnsonJNJ62.0962.2561.5761.759.77M
Bristol-Myers SquibbBMY27.1127.3226.9527.288.9M
Home DepotHD31.8132.0431.6531.828.65M
Wal-Mart StoresWMT53.6053.6253.2053.368.23M
Gilead SciencesGILD35.6136.2335.5635.766.95M
UnitedHealth GroupUNH35.0735.4734.7635.436.5M
International Business MachinesIBM135.51136.28135.09135.645.62M
United TechnologiesUTX71.6872.0370.9871.135M
Berkshire HathawayBRK.B83.3083.4882.3382.714.52M
Union PacificUNP81.6181.8180.3681.033.5M
Exchange Rates of October 1st, 2010
CurrenciesExchange Rates
US DollarJapanese Yen1 USD = 83.210 JPY1 JPY = 0.012 USD
US DollarCanadian Dollar1 USD = 1.019 CAD1 CAD = 0.981 USD
US DollarSwiss Franc1 USD = 0.974 CHF1 CHF = 1.027 USD
US DollarChinese Yuan1 USD = 6.691 CNY1 CNY = 0.149 USD
EuroJapanese Yen1 EUR = 114.766 JPY1 JPY = 0.009 EUR
EuroPound Sterling1 EUR = 0.872 GBP1 GBP = 1.147 EUR
EuroAustralian Dollar1 EUR = 1.418 AUD1 AUD = 0.705 EUR
EuroCanadian Dollar1 EUR = 1.406 CAD1 CAD = 0.711 EUR
EuroSwiss Franc1 EUR = 1.343 CHF1 CHF = 0.745 EUR
EuroChinese Yuan1 EUR = 9.218 CNY1 CNY = 0.108 EUR
Japanese YenPound Sterling1 JPY = 0.759 GBP1 GBP = 1.317 JPY
Japanese YenAustralian Dollar1 JPY = 1.236 AUD1 AUD = 0.809 JPY
Japanese YenCanadian Dollar1 JPY = 1.225 CAD1 CAD = 0.817 JPY
Japanese YenSwiss Franc1 JPY = 1.170 CHF1 CHF = 0.855 JPY
Pound SterlingAustralian Dollar1 GBP = 1.628 AUD1 AUD = 0.614 GBP
Pound SterlingCanadian Dollar1 GBP = 1.613 CAD1 CAD = 0.620 GBP
Pound SterlingSwiss Franc1 GBP = 1.540 CHF1 CHF = 0.649 GBP
Pound SterlingChinese Yuan1 GBP = 10.580 CNY1 CNY = 0.095 GBP
Australian DollarCanadian Dollar1 AUD = 0.990 CAD1 CAD = 1.010 AUD
Australian DollarSwiss Franc1 AUD = 0.946 CHF1 CHF = 1.057 AUD
Australian DollarChinese Yuan1 AUD = 6.509 CNY1 CNY = 0.154 AUD
Canadian DollarSwiss Franc1 CAD = 0.955 CHF1 CHF = 1.047 CAD
Canadian DollarChinese Yuan1 CAD = 6.561 CNY1 CNY = 0.152 CAD
Swiss FrancChinese Yuan1 CHF = 6.855 CNY1 CNY = 0.146 CHF

See what else happened on October 1st, 2010