Financial news on March 03, 2006
Business and Financial news
Apax Partners is taking a walk down the aisle with photography company Pictage, investing $29 million in equity for a majority stake in the company, which provides a portal for wedding and other professional photographers to print, store and sell photos. The deal values the company at less than $100 million. Pictage’s management will remain […] Read more..
Boston Scientific has scheduled a special shareholder meeting for March 31 for a vote on the company’s proposed $27 billion merger with Guidant. The transaction is expected to close during the week of April 3, Boston Scientific said in a Securities and Exchange Commission filing Thursday. Go to Article from The Minneapolis–St. Paul Business Journal […] Read more..
For the third time in less than two years, David Lerner Associates, an investment brokerage firm based in Long Island, N.Y., has agreed to fines and other penalties to settle regulatory complaints about its marketing practices. NASD said yesterday that Lerner would pay $350,000 and be suspended from selling variable insurance and annuity policies for […] Read more..
Carlyle Group, the $33 billion multinational investment company based in Washington, has agreed to buy a controlling stake in pipe manufacturer John Maneely, of Collingswood, Pa. Carlyle has pledged to pay about $500 million to buy out a majority of the 18 shareholders. Members of the Dooner, Boylan and O’Donnell families, they are descendants of […] Read more..
General Electric said on Thursday it will receive net proceeds of $2.8 billion from the sale of its remaining stake in insurer Genworth Financial. The financial, media and industrial conglomerate said it plans to sell 71 million Genworth shares to the public at $32.75 a share, a slight discount to the life and mortgage insurer’s […] Read more..
News Corporation has been eerily quiet since it went on a billion-dollar Internet spending spree last year. But Rupert Murdoch’s deal-making machine is getting back in gear. The latest target is one of 32 companies that made presentations at last week’s Under the Radar conference in Mountain View, Calif. The deal came to light when […] Read more..
Edgars Consolidated Stores, South Africa’s biggest retailer by market value, will bid for Coles Myer‘s department stores to expand in Australia. Edgars, based in Johannesburg, will form a team to make an offer for the Myer division of Melbourne-based Coles Myer, it said in a statement to South Africa’s stock exchange. Edgars owns stores which […] Read more..
Investigators from the Justice Department said Thursday that they were examining the recording industry’s practices for setting prices for music sold online, according to people briefed on the inquiry. Justice Department officials have begun serving subpoenas on the four major music corporations as part of a broad inquiry that is expected to encompass pricing and […] Read more..
A company led by financier Wilbur Ross has closed on its purchase of the European operations of bankrupt automotive parts supplier Collins & Aikman, without the participation of Lear, though the sides are still discussing a deal. International Automotive Components Group, of which Ross is chairman, proposed a joint venture with Lear to go after […] Read more..
Values are reported in US Dollars
|Walt Disney & Co.||DIS||27.94||28.44||27.91||28.22||7.98M|
|Procter & Gamble||PG||59.30||60.16||59.30||59.67||7.8M|
|Johnson & Johnson||JNJ||57.55||58.12||57.47||57.47||6.46M|
|International Business Machines||IBM||79.51||80.83||79.51||79.96||4.35M|
|Wells Fargo & Co.||WFC||63.70||64.20||63.42||63.82||3.5M|
Exchange Rates of March 03, 2006
|US Dollar||Japanese Yen||1 USD = 116.440 JPY||1 JPY = 0.009 USD|
|US Dollar||Canadian Dollar||1 USD = 1.135 CAD||1 CAD = 0.881 USD|
|US Dollar||Swiss Franc||1 USD = 1.298 CHF||1 CHF = 0.770 USD|
|US Dollar||Chinese Yuan||1 USD = 8.035 CNY||1 CNY = 0.124 USD|
|Euro||Japanese Yen||1 EUR = 140.090 JPY||1 JPY = 0.007 EUR|
|Euro||Pound Sterling||1 EUR = 0.686 GBP||1 GBP = 1.458 EUR|
|Euro||Australian Dollar||1 EUR = 1.616 AUD||1 AUD = 0.619 EUR|
|Euro||Canadian Dollar||1 EUR = 1.366 CAD||1 CAD = 0.732 EUR|
|Euro||Swiss Franc||1 EUR = 1.562 CHF||1 CHF = 0.640 EUR|
|Pound Sterling||Australian Dollar||1 GBP = 2.355 AUD||1 AUD = 0.425 GBP|
|Pound Sterling||Canadian Dollar||1 GBP = 1.991 CAD||1 CAD = 0.502 GBP|
|Pound Sterling||Swiss Franc||1 GBP = 2.277 CHF||1 CHF = 0.439 GBP|
|Australian Dollar||Canadian Dollar||1 AUD = 0.845 CAD||1 CAD = 1.184 AUD|
|Australian Dollar||Swiss Franc||1 AUD = 0.966 CHF||1 CHF = 1.035 AUD|