Financial news on July 2nd, 2010

Business and Financial news
‘We Got Acquired by Amazon': Woot’s Deal Video

Woot, an online shopping site, wasn’t content with just putting out a press release to trumpet its sale to So it put out a rap video on YouTube hosted by a stuffed monkey. Read more..

By DEALBOOK - The New York Times

A.I.G. Chief and Chairman to Work Out Differences

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..

By DEALBOOK - The New York Times

Britain’s Chloride Seals Deal With Emerson

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..

By DEALBOOK - The New York Times

Dana Petroleum Surges After K.N.O.C. Takeover Approach

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..

By DEALBOOK - The New York Times

German Parliament Approves Trading Curbs

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..

By DEALBOOK - The New York Times

Hedge Funds Caught in Europe’s Bonus Limits

It looks like the hedge fund industry will have to brace itself for yet another regulatory headache: Europe’s new bonus restrictions. Read more..

By DEALBOOK - The New York Times

Lobbyist Says It’s About Information, Not Influence

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..

By DEALBOOK - The New York Times

Shares Lower on Downbeat Economic Reports

The major indexes continued down after the markets suffered their worst quarter since late 2008. Read more..

By REUTERS - The New York Times

U.S. House Approves Limits on Pharmaceutical Dealmaking

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..

By DEALBOOK - The New York Times

Will Sun Valley Yield Any Deals This Year?

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..

By DEALBOOK - The New York Times

Stock Markets

Values are reported in US Dollars

StockTicker symbolOpenHighLowCloseVolume
General ElectricGE14.1614.2613.7513.8878.5M
Cisco SystemsCSCO21.2121.3120.9921.1346.3M
JPMorgan ChaseJPM36.3136.6935.3435.8336.8M
Wells Fargo & Co.WFC25.4025.6824.7624.8832.2M
Oracle Corp.ORCL21.7122.0321.4921.8331.8M
Verizon CommunicationsVZ27.1727.1826.4826.8125.6M
AT&T Inc.T24.4224.4324.1024.2923.2M
HP Inc.HPQ42.9943.1642.3142.8116.7M
Walt Disney & Co.DIS31.5631.6830.7231.3815.6M
Home DepotHD28.0128.0127.5827.7615.4M
Wal-Mart StoresWMT48.4448.4447.8448.0013.6M
Procter & GamblePG59.6359.8959.2159.3812.1M
Abbott LaboratoriesABT46.4846.7646.2246.4611.8M
Johnson & JohnsonJNJ59.4259.5958.8559.0810.5M
Bristol-Myers SquibbBMY24.8725.0424.5024.699.9M
Gilead SciencesGILD34.3835.1634.1834.879.76M
Berkshire HathawayBRK.B79.0579.4776.6777.249.32M
UnitedHealth GroupUNH27.8928.4527.7928.309.31M
International Business MachinesIBM123.29123.29120.61121.866.45M
Union PacificUNP69.9170.5367.9768.374.88M
United TechnologiesUTX64.4564.9363.8464.293.99M
Exchange Rates of July 2nd, 2010
CurrenciesExchange Rates
US DollarJapanese Yen1 USD = 87.740 JPY1 JPY = 0.011 USD
US DollarCanadian Dollar1 USD = 1.063 CAD1 CAD = 0.941 USD
US DollarSwiss Franc1 USD = 1.062 CHF1 CHF = 0.941 USD
US DollarChinese Yuan1 USD = 6.772 CNY1 CNY = 0.148 USD
EuroJapanese Yen1 EUR = 110.230 JPY1 JPY = 0.009 EUR
EuroPound Sterling1 EUR = 0.827 GBP1 GBP = 1.210 EUR
EuroAustralian Dollar1 EUR = 1.492 AUD1 AUD = 0.670 EUR
EuroCanadian Dollar1 EUR = 1.335 CAD1 CAD = 0.749 EUR
EuroSwiss Franc1 EUR = 1.335 CHF1 CHF = 0.749 EUR
EuroChinese Yuan1 EUR = 8.509 CNY1 CNY = 0.118 EUR
Japanese YenPound Sterling1 JPY = 0.749 GBP1 GBP = 1.334 JPY
Japanese YenAustralian Dollar1 JPY = 1.353 AUD1 AUD = 0.739 JPY
Japanese YenCanadian Dollar1 JPY = 1.210 CAD1 CAD = 0.827 JPY
Japanese YenSwiss Franc1 JPY = 1.211 CHF1 CHF = 0.826 JPY
Pound SterlingAustralian Dollar1 GBP = 1.805 AUD1 AUD = 0.554 GBP
Pound SterlingCanadian Dollar1 GBP = 1.616 CAD1 CAD = 0.619 GBP
Pound SterlingSwiss Franc1 GBP = 1.616 CHF1 CHF = 0.619 GBP
Pound SterlingChinese Yuan1 GBP = 10.282 CNY1 CNY = 0.097 GBP
Australian DollarCanadian Dollar1 AUD = 0.894 CAD1 CAD = 1.119 AUD
Australian DollarSwiss Franc1 AUD = 0.894 CHF1 CHF = 1.119 AUD
Australian DollarChinese Yuan1 AUD = 5.700 CNY1 CNY = 0.175 AUD
Canadian DollarSwiss Franc1 CAD = 1.000 CHF1 CHF = 1.000 CAD
Canadian DollarChinese Yuan1 CAD = 6.369 CNY1 CNY = 0.157 CAD
Swiss FrancChinese Yuan1 CHF = 6.371 CNY1 CNY = 0.157 CHF

See what else happened on July 2nd, 2010