Financial news on October 2nd, 2009

Business and Financial news
BAE Faces Corruption Charges

The weapons maker has denied accusations of bribery linked to deals in Africa and Eastern Europe. Read more..

By JULIA WERDIGIER - The New York Times

Chinese Economic Juggernaut Is Gaining on Japan

Many economists expect China to replace Japan as the world’s second-largest economy next year, five years earlier than previously forecast. Read more..

By HIROKO TABUCHI - The New York Times

Chubb Turns to Humor to Make Its Pitch

The insurance company, which aims at the affluent, is using waterfalls, alligators and charging bulls to show how danger can lurk unexpectedly. Read more..

By ANDREW ADAM NEWMAN - The New York Times

David Letterman Reveals Extortion Attempt

Mr. Letterman said on his show that a person demanded $2 million not to reveal his sexual affairs with staff members. Read more..

By BILL CARTER - The New York Times

I.M.F. Upgrades Forecast for World Economies

The fund’s latest report predicts a global expansion of 3.1 percent next year, better than its earlier forecast. Read more..

By CARTER DOUGHERTY - The New York Times

In Failed Merger, a Lesson in Global Politics

The collapse of talks between Bharti Airtel of India and MTN Group of South Africa illustrated the difficulty of striking deals in emerging markets. Read more..

By HEATHER TIMMONS - International Herald Tribune

Looking to Profit From a Glut of Unsold Apartments

There have been a flurry of new investment funds organized to buy up heavily discounted residential property from desperate sellers. Read more..

By KEVIN BRASS - International Herald Tribune

Shaky Pace of Recovery Sets Off a Sharp Decline

Despite an increase in spending, economists worry any rebound could falter if income growth does not improve. Read more..

By JACK HEALY - The New York Times

The Smart Choice for Olympic Host

Yes, President Obama is pushing for the 2016 Summer Olympics to be held Chicago, but Rio de Janeiro is the city that can best afford it. Read more..


Who Can Take Charge at Bank of America?

The Dec. 31 departure of Kenneth D. Lewis has left the board at Bank of America scrambling for a successor. Read more..

By ERIC DASH and LOUISE STORY - The New York Times

Stock Markets

Values are reported in US Dollars

StockTicker symbolOpenHighLowCloseVolume
General ElectricGE15.4515.6615.1515.36133M
Wells Fargo & Co.WFC26.0426.6925.9926.2852.1M
JPMorgan ChaseJPM40.8242.4040.5341.8643.1M
Cisco SystemsCSCO22.8623.0822.6222.6742M
Oracle Corp.ORCL20.2520.6420.2420.3441.7M
Abbott LaboratoriesABT48.4150.0048.4149.8426.7M
AT&T Inc.T26.5526.7526.4526.5224.8M
HP Inc.HPQ45.5945.9645.2045.2818.2M
Verizon CommunicationsVZ29.9830.1529.8629.8917.6M
Wal-Mart StoresWMT48.8949.3448.8449.0815.1M
Walt Disney & Co.DIS27.0527.2726.8427.2114.6M
Home DepotHD26.1526.2725.8726.0313.8M
Procter & GamblePG56.4056.9156.2056.7513.1M
UnitedHealth GroupUNH24.6824.9123.9524.2811.2M
Gilead SciencesGILD45.3045.5144.4644.5110.3M
Bristol-Myers SquibbBMY22.0522.3522.0022.269.73M
Johnson & JohnsonJNJ59.8260.2059.4259.739.13M
International Business MachinesIBM117.40119.66117.26119.027.58M
Union PacificUNP57.4658.6057.0657.384.81M
United TechnologiesUTX59.3859.9459.3159.634.66M
Berkshire HathawayBRK.B3218.003271.003211.003264.5036.5K
Exchange Rates of October 2nd, 2009
CurrenciesExchange Rates
US DollarJapanese Yen1 USD = 89.780 JPY1 JPY = 0.011 USD
US DollarCanadian Dollar1 USD = 1.079 CAD1 CAD = 0.927 USD
US DollarSwiss Franc1 USD = 1.035 CHF1 CHF = 0.966 USD
US DollarChinese Yuan1 USD = 6.827 CNY1 CNY = 0.146 USD
EuroJapanese Yen1 EUR = 130.870 JPY1 JPY = 0.008 EUR
EuroPound Sterling1 EUR = 0.914 GBP1 GBP = 1.094 EUR
EuroAustralian Dollar1 EUR = 1.684 AUD1 AUD = 0.594 EUR
EuroCanadian Dollar1 EUR = 1.572 CAD1 CAD = 0.636 EUR
EuroSwiss Franc1 EUR = 1.509 CHF1 CHF = 0.663 EUR
EuroChinese Yuan1 EUR = 9.948 CNY1 CNY = 0.101 EUR
Japanese YenPound Sterling1 JPY = 0.698 GBP1 GBP = 1.433 JPY
Japanese YenAustralian Dollar1 JPY = 1.287 AUD1 AUD = 0.777 JPY
Japanese YenCanadian Dollar1 JPY = 1.202 CAD1 CAD = 0.832 JPY
Japanese YenSwiss Franc1 JPY = 1.152 CHF1 CHF = 0.868 JPY
Pound SterlingAustralian Dollar1 GBP = 1.842 AUD1 AUD = 0.543 GBP
Pound SterlingCanadian Dollar1 GBP = 1.721 CAD1 CAD = 0.581 GBP
Pound SterlingSwiss Franc1 GBP = 1.650 CHF1 CHF = 0.606 GBP
Pound SterlingChinese Yuan1 GBP = 10.874 CNY1 CNY = 0.092 GBP
Australian DollarCanadian Dollar1 AUD = 0.934 CAD1 CAD = 1.071 AUD
Australian DollarSwiss Franc1 AUD = 0.895 CHF1 CHF = 1.117 AUD
Australian DollarChinese Yuan1 AUD = 5.907 CNY1 CNY = 0.169 AUD
Canadian DollarSwiss Franc1 CAD = 0.957 CHF1 CHF = 1.045 CAD
Canadian DollarChinese Yuan1 CAD = 6.325 CNY1 CNY = 0.158 CAD
Swiss FrancChinese Yuan1 CHF = 6.596 CNY1 CNY = 0.152 CHF

See what else happened on October 2nd, 2009