Financial news on July 2nd, 2010
Business and Financial news
Woot, an online shopping site, wasn’t content with just putting out a press release to trumpet its sale to Amazon.com. So it put out a rap video on YouTube hosted by a stuffed monkey. Read more..
American International Group Chief Executive Robert Benmosche and Chairman Harvey Golub, at odds over a botched sale of the company’s Asian life unit, have agreed to work out their differences, a source familiar with the situation said on Thursday, Reuters reported. Read more..
Chloride Group, the British power supply company, said Friday that it has accepted an improved takeover bid from U.S. competitor Emerson Electric that values it at 997 million pounds ($1.5 billion). Read more..
Dana Petroleum, a U.K. oil and gas explorer, surged by the highest amount in 19 months in London trading after a takeover approach from Korea National Oil. The shares climbed as much as 23 percent to 1,450 pence, the biggest intraday gain since November 2008. Read more..
German lawmakers on Friday approved a government bill that would cement in law and extend curbs on speculative trading practices following the country’s abrupt imposition of restrictions in May, The Associated Press reported. Read more..
It looks like the hedge fund industry will have to brace itself for yet another regulatory headache: Europe’s new bonus restrictions. Read more..
For weeks now, the two biggest issues in Congress have been cleaning up Wall Street and cleaning up the Gulf Coast — and prominent lobbyist Tony Podesta has had a big hand in both. Read more..
The major indexes continued down after the markets suffered their worst quarter since late 2008. Read more..
The U.S. House approved a measure restricting the ability of drugmakers to enter agreements that the Federal Trade Commission has said keep generic medicines off the market. The proposal, included in a war-funding bill that passed the House last night, now goes to the Senate. Read more..
What will this year’s Allen & Company annual media retreat — a traditional birthplace of headline-grabbing deals — yield? Perhaps nothing, some industry observers told Reuters. Read more..
Values are reported in US Dollars
|Wells Fargo & Co.||WFC||25.40||25.68||24.76||24.88||32.2M|
|Walt Disney & Co.||DIS||31.56||31.68||30.72||31.38||15.6M|
|Procter & Gamble||PG||59.63||59.89||59.21||59.38||12.1M|
|Johnson & Johnson||JNJ||59.42||59.59||58.85||59.08||10.5M|
|International Business Machines||IBM||123.29||123.29||120.61||121.86||6.45M|
Exchange Rates of July 2nd, 2010
|US Dollar||Japanese Yen||1 USD = 87.740 JPY||1 JPY = 0.011 USD|
|US Dollar||Canadian Dollar||1 USD = 1.063 CAD||1 CAD = 0.941 USD|
|US Dollar||Swiss Franc||1 USD = 1.062 CHF||1 CHF = 0.941 USD|
|US Dollar||Chinese Yuan||1 USD = 6.772 CNY||1 CNY = 0.148 USD|
|Euro||Japanese Yen||1 EUR = 110.230 JPY||1 JPY = 0.009 EUR|
|Euro||Pound Sterling||1 EUR = 0.827 GBP||1 GBP = 1.210 EUR|
|Euro||Australian Dollar||1 EUR = 1.492 AUD||1 AUD = 0.670 EUR|
|Euro||Canadian Dollar||1 EUR = 1.335 CAD||1 CAD = 0.749 EUR|
|Euro||Swiss Franc||1 EUR = 1.335 CHF||1 CHF = 0.749 EUR|
|Euro||Chinese Yuan||1 EUR = 8.509 CNY||1 CNY = 0.118 EUR|
|Japanese Yen||Pound Sterling||1 JPY = 0.749 GBP||1 GBP = 1.334 JPY|
|Japanese Yen||Australian Dollar||1 JPY = 1.353 AUD||1 AUD = 0.739 JPY|
|Japanese Yen||Canadian Dollar||1 JPY = 1.210 CAD||1 CAD = 0.827 JPY|
|Japanese Yen||Swiss Franc||1 JPY = 1.211 CHF||1 CHF = 0.826 JPY|
|Pound Sterling||Australian Dollar||1 GBP = 1.805 AUD||1 AUD = 0.554 GBP|
|Pound Sterling||Canadian Dollar||1 GBP = 1.616 CAD||1 CAD = 0.619 GBP|
|Pound Sterling||Swiss Franc||1 GBP = 1.616 CHF||1 CHF = 0.619 GBP|
|Pound Sterling||Chinese Yuan||1 GBP = 10.282 CNY||1 CNY = 0.097 GBP|
|Australian Dollar||Canadian Dollar||1 AUD = 0.894 CAD||1 CAD = 1.119 AUD|
|Australian Dollar||Swiss Franc||1 AUD = 0.894 CHF||1 CHF = 1.119 AUD|
|Australian Dollar||Chinese Yuan||1 AUD = 5.700 CNY||1 CNY = 0.175 AUD|
|Canadian Dollar||Swiss Franc||1 CAD = 1.000 CHF||1 CHF = 1.000 CAD|
|Canadian Dollar||Chinese Yuan||1 CAD = 6.369 CNY||1 CNY = 0.157 CAD|
|Swiss Franc||Chinese Yuan||1 CHF = 6.371 CNY||1 CNY = 0.157 CHF|