Financial news on March 2nd, 2006

Business and Financial news
‘Crash’ Producers Clash Over Credit and Payment

On the eve of this weekend’s Academy Awards, a bare-knuckled fight has broken out among the producers of one of the leading Oscar-nominated movies, “Crash,” over two of the things Hollywood cares about most: money and credit. Even as the last Oscar ballots were being cast late Tuesday, Cathy Schulman, a producer of “Crash,” filed […] Read more..

By WRITER - The New York Times

Clock Ticks for New Japan Airlines Chief

Eitaro Itoyama, the billionaire who forced out a Japan Airlines president for the second time on Wednesday, threatened to oust replacement Haruka Nishimatsu after a year unless he turns around the unprofitable carrier. “I will tell him I want dividends,” Itoyama, Japan’s fourth-wealthiest man, said in an interview in Tokyo. “Nishimatsu may be good in […] Read more..

By WRITER - The New York Times

Gateway to Pay $47 Million in H-P Settlement

Gateway agreed Wednesday to pay $47 million to Hewlett-Packard to settle a series of patent lawsuits, and the rival computer makers entered into a seven-year cross-licensing deal. Go to Article from Newsday » Read more..

By WRITER - The New York Times

Hicks Muse Changes Name, Adds Partners

Dallas buyout firm Hicks, Muse, Tate & Furst said Wednesday that it is changing its name to HM Capital Partners LLC and adding three new partners. The name change, effective immediately, reflects a generational shift. Co-founder Tom Hicks retired from the 17-year-old firm in January 2005. Charles Tate, another partner, left in June 2002. Six […] Read more..

By WRITER - The New York Times

Lasalle Outsources Chicago Jobs

LaSalle Bank on Tuesday told 160 Chicago workers that they’ll be losing their jobs as part of its parent’s previously announced plans to slash about 3,500 information technology positions worldwide. Amsterdam-based ABN Amro said in September that it would join the growing ranks of companies outsourcing much of their computer work to reduce costs. At […] Read more..

By WRITER - The New York Times

Overstock Chief Says S.E.C. Investigated Journalists on Its Own

The chief executive of Overstock.com said on Wednesday that federal regulators, not his company, an online retailer, were behind the subpoenas of business journalists as part of an investigation into allegations that Overstock.com’s stock was manipulated. Patrick Byrne said in a televised interview that the Securities and Exchange Commission’s recent subpoenas of journalists who had […] Read more..

By WRITER - The New York Times

Patent Ruling to Benefit Big Business

Acting in a case at the intersection of patent and antitrust law, the Supreme Court on Wednesday issued a ruling that makes it harder for upstart companies and generic manufacturers to challenge patent holders’ power in the marketplace. The 8-0 decision, written by Justice John Paul Stevens, overturns a 1947 decision that was issued when […] Read more..

By WRITER - The New York Times

PE Firms Threaten U.K. Exodus

The private equity industry has warned the British chancellor that it will consider abandoning the United Kingdom if he clamps down on its profits. The Treasury is currently reviewing the way it taxes private equity deals and, while changes are not imminent, the industry fears that it has to emphasize the contribution it makes to […] Read more..

By WRITER - The New York Times

Perot Systems Buys Outsourcing Firm eServ

Perot Systems has acquired eServ, a provider of high-end product engineering outsourcing services, for $21 million. The acquisition launches Perot Systems’ expansion into outsourced engineering services, broadening the company’s suite of services for the automotive, manufacturing and industrial services segments. Go to Article from the Dallas Morning News » Read more..

By WRITER - The New York Times

Stock Markets

Values are reported in US Dollars

StockTicker symbolOpenHighLowCloseVolume
IntelINTC20.7020.8420.3820.4986.2M
Cisco SystemsCSCO20.9221.0620.7020.8869.2M
Oracle Corp.ORCL12.7412.9212.6812.8063.2M
MicrosoftMSFT26.9927.1026.9026.9741.9M
AlphabetGOOGL364.42381.10362.20376.4536.6M
General ElectricGE32.7032.9132.5832.8525.1M
AppleAAPL69.0269.9968.6769.6122.3M
PfizerPFE26.1026.2725.9026.0620M
ExxonMobilXOM60.0460.9859.9860.8519.7M
AT&T Inc.T28.0928.3927.9628.2814.7M
ConocoPhillipsCOP62.0063.0061.7162.7813M
Wal-Mart StoresWMT45.1345.4844.9345.0612.5M
ComcastCMCSA27.2127.4127.0227.3812.2M
Abbott LaboratoriesABT43.8043.8643.0343.4411.9M
HP Inc.HPQ34.0034.2033.6534.1911.8M
Verizon CommunicationsVZ34.2034.2033.8334.0011.6M
AmazonAMZN35.6537.0035.3736.8811.6M
Home DepotHD42.1842.4941.8042.2911.6M
JPMorgan ChaseJPM41.6341.8441.3741.6610.9M
Procter & GamblePG59.9960.0259.3659.5510.9M
ChevronCVX57.2457.5956.5057.0110.1M
Walt Disney & Co.DIS27.8728.0727.7428.039.71M
MerckMRK34.7535.2634.7135.129.07M
Johnson & JohnsonJNJ57.5058.2657.4557.697.79M
AltriaMO71.8972.0071.3071.616.79M
SchlumbergerSLB119.50121.83118.58121.426.73M
UnitedHealth GroupUNH58.0058.2257.2257.585.96M
AmgenAMGN75.5576.5375.5276.475.93M
Coca-ColaKO42.0742.1541.7041.915.77M
Bristol-Myers SquibbBMY22.8622.8922.6822.755.17M
McDonald'sMCD34.9334.9934.6934.944.57M
International Business MachinesIBM79.9080.2179.5479.944.42M
PepsicoPEP59.0059.4058.9559.284.23M
Wells Fargo & Co.WFC64.4264.4363.5563.843.94M
United TechnologiesUTX58.5058.8258.0258.293.3M
3MMMM73.6473.8072.9973.052.66M
Gilead SciencesGILD61.0561.6460.7161.292.58M
BoeingBA72.7573.3572.3472.801.78M
Union PacificUNP89.2089.6888.6088.82778K
Berkshire HathawayBRK.B2887.002899.002884.002893.007.3K
Exchange Rates of March 2nd, 2006
CurrenciesExchange Rates
US DollarJapanese Yen1 USD = 115.860 JPY1 JPY = 0.009 USD
US DollarCanadian Dollar1 USD = 1.131 CAD1 CAD = 0.884 USD
US DollarSwiss Franc1 USD = 1.298 CHF1 CHF = 0.770 USD
US DollarChinese Yuan1 USD = 8.034 CNY1 CNY = 0.124 USD
EuroJapanese Yen1 EUR = 139.430 JPY1 JPY = 0.007 EUR
EuroPound Sterling1 EUR = 0.686 GBP1 GBP = 1.458 EUR
EuroAustralian Dollar1 EUR = 1.608 AUD1 AUD = 0.622 EUR
EuroCanadian Dollar1 EUR = 1.361 CAD1 CAD = 0.735 EUR
EuroSwiss Franc1 EUR = 1.562 CHF1 CHF = 0.640 EUR
Pound SterlingAustralian Dollar1 GBP = 2.343 AUD1 AUD = 0.427 GBP
Pound SterlingCanadian Dollar1 GBP = 1.984 CAD1 CAD = 0.504 GBP
Pound SterlingSwiss Franc1 GBP = 2.276 CHF1 CHF = 0.439 GBP
Australian DollarCanadian Dollar1 AUD = 0.846 CAD1 CAD = 1.182 AUD
Australian DollarSwiss Franc1 AUD = 0.971 CHF1 CHF = 1.030 AUD

See what else happened on March 2nd, 2006