Financial news on June 2nd, 2010

Business and Financial news
Amgen Drug Approved to Fight Osteoporosis

Prolia is meant to help prevent fractures in postmenopausal women. Read more..

By REUTERS - The New York Times

Bailout Haunts Any A.I.G. Deal

The wrangling over the price for the company’s Asian insurance unit confirms something that its prospective buyer should have known all along. Read more..

By AGNES T. CRANE and ANTONY CURRIE - The New York Times

Bailout Will Haunt Any A.I.G. Deal

The wrangling over the American International Group’s Asian insurance unit clarifies what the board of Prudential of Britain should have known all along: A.I.G. is beholden to the U.S. taxpayer, Reuters Breakingviews writes. Read more..

By DEALBOOK - The New York Times

Biglari Extends Offer for Advance Auto Shares

Sardar Biglari, the activist investor who took over Steak n Shake in 2007 and renamed it Biglari Holdings, said his company had extended an offer to buy up to 1.6 percent of the shares of Advance Auto Parts from Tuesday until Friday. Read more..

By DEALBOOK - The New York Times

Big Setback for A.I.G. in Repaying Taxpayers

With Prudential no longer involved, A.I.G. has no obvious suitor and may sell its prized Asian subsidiary in an initial offering. Read more..


Buffett to Testify at Crisis Panel Wednesday

Warren E. Buffett and the chief executive of credit rating agency Moody’s Corp. are scheduled to face questions Wednesday from a bipartisan panel probing the roots the financial crisis. Read more..

By DEALBOOK - The New York Times

China's Manufacturing Sector Grew in May, but at a Slower Pace

Two surveys by purchasing managers in China released Tuesday showed that government steps to forestall overheating in the giant economy were starting to take effect. Read more..

By BETTINA WASSENER - The New York Times

Couche-Tard Begins Tender Offer for Casey’s

The Canadian convenience store operator went hostile in its pursuit of Casey’s General Stores, beginning a tender offer for its American counterpart and announcing its plan to nominate an alternate slate of directors. Read more..

By DEALBOOK - The New York Times

Porter Aviation Grounds I.P.O.

Porter Airlines, a popular Canadian-based regional carrier, delayed its initial public offering because of unfavorable market conditions caused by volatility in the equity markets. Read more..

By DEALBOOK - The New York Times

Prudential Faces Fallout From Failed Deal

After the collapse of the deal to sell the American International Group’s huge Asian life insurance arm to Prudential, the British insurer’s chief is fighting for his job. Read more..

By DEALBOOK - The New York Times

Stock Markets

Values are reported in US Dollars

StockTicker symbolOpenHighLowCloseVolume
General ElectricGE16.1616.3915.9516.3562.8M
Cisco SystemsCSCO23.0723.3722.7423.3545.7M
JPMorgan ChaseJPM39.1739.6238.6739.5539.6M
Wells Fargo & Co.WFC28.5629.2028.3229.1832.5M
Oracle Corp.ORCL22.3022.6721.9022.6428.4M
AT&T Inc.T24.4424.7924.3924.7825.6M
HP Inc.HPQ46.1647.3446.0047.2724.7M
Verizon CommunicationsVZ27.2527.6027.0927.5919M
Abbott LaboratoriesABT47.0047.5146.5147.4818.7M
Walt Disney & Co.DIS33.5734.7933.4634.7418.3M
Bristol-Myers SquibbBMY23.0623.2422.8623.0017.1M
Johnson & JohnsonJNJ59.0759.7358.6959.7315.6M
Home DepotHD33.6233.8833.3933.8714.3M
Wal-Mart StoresWMT51.2351.7451.0251.7213.7M
Gilead SciencesGILD35.8236.0135.2136.0013.1M
Procter & GamblePG61.1661.8361.0461.7413M
UnitedHealth GroupUNH29.1229.9428.8729.917.97M
International Business MachinesIBM124.85127.50124.35127.417.71M
Berkshire HathawayBRK.B70.5172.3370.1772.254.91M
Union PacificUNP70.3472.6770.3372.584.66M
United TechnologiesUTX66.4767.5365.9767.464.3M
Exchange Rates of June 2nd, 2010
CurrenciesExchange Rates
US DollarJapanese Yen1 USD = 92.240 JPY1 JPY = 0.011 USD
US DollarCanadian Dollar1 USD = 1.039 CAD1 CAD = 0.963 USD
US DollarSwiss Franc1 USD = 1.155 CHF1 CHF = 0.866 USD
US DollarChinese Yuan1 USD = 6.831 CNY1 CNY = 0.146 USD
EuroJapanese Yen1 EUR = 112.940 JPY1 JPY = 0.009 EUR
EuroPound Sterling1 EUR = 0.836 GBP1 GBP = 1.196 EUR
EuroAustralian Dollar1 EUR = 1.455 AUD1 AUD = 0.687 EUR
EuroCanadian Dollar1 EUR = 1.272 CAD1 CAD = 0.786 EUR
EuroSwiss Franc1 EUR = 1.414 CHF1 CHF = 0.707 EUR
EuroChinese Yuan1 EUR = 8.369 CNY1 CNY = 0.119 EUR
Japanese YenPound Sterling1 JPY = 0.740 GBP1 GBP = 1.352 JPY
Japanese YenAustralian Dollar1 JPY = 1.287 AUD1 AUD = 0.777 JPY
Japanese YenCanadian Dollar1 JPY = 1.125 CAD1 CAD = 0.889 JPY
Japanese YenSwiss Franc1 JPY = 1.252 CHF1 CHF = 0.799 JPY
Pound SterlingAustralian Dollar1 GBP = 1.741 AUD1 AUD = 0.575 GBP
Pound SterlingCanadian Dollar1 GBP = 1.522 CAD1 CAD = 0.657 GBP
Pound SterlingSwiss Franc1 GBP = 1.693 CHF1 CHF = 0.591 GBP
Pound SterlingChinese Yuan1 GBP = 10.000 CNY1 CNY = 0.100 GBP
Australian DollarCanadian Dollar1 AUD = 0.874 CAD1 CAD = 1.144 AUD
Australian DollarSwiss Franc1 AUD = 0.972 CHF1 CHF = 1.029 AUD
Australian DollarChinese Yuan1 AUD = 5.753 CNY1 CNY = 0.174 AUD
Canadian DollarSwiss Franc1 CAD = 1.112 CHF1 CHF = 0.899 CAD
Canadian DollarChinese Yuan1 CAD = 6.578 CNY1 CNY = 0.152 CAD
Swiss FrancChinese Yuan1 CHF = 5.916 CNY1 CNY = 0.169 CHF

See what else happened on June 2nd, 2010