Financial news on October 3rd, 2007

Business and Financial news
A Day of Robots, Rocket Cycles and Lasers

Gadgetoff was the festival of the future that never was. Read more..

By SAUL HANSELL - The New York Times

Appeals Court Extends Time for Suit on Holocaust Insurance Payments

The extension potentially revived the long-running dispute over unpaid life insurance claims brought by victims of the Holocaust. Read more..

By JOSEPH B. TREASTER - The New York Times

A September Sales Drop of 18.2% Ends Dismal 2007 Model Year for Ford

G.M.’s U.S. sales were up 4 percent in September, while Honda’s increased 13.8 percent. But Toyota, Ford and Chrysler all sold fewer vehicles. Read more..

By NICK BUNKLEY - The New York Times

Buyout Group Alters Its Offer for Sallie Mae

A consortium led by the private equity firm, J. C. Flowers, offered $50 a share in cash for Sallie Mae, below the $60 a share they agreed to pay in April. Read more..

By ANDREW ROSS SORKIN and MICHAEL J. de la MERCED - The New York Times

Confronting Failure and Winning

Murphy’s Law can test even the most nimble entrepreneurs. The question that invariably comes up is this: “Is it worth it?” Read more..

By BRENT BOWERS - The New York Times

Insider-Trading Inquiry at Airbus Owner Advances

The case in France centers on whether executives of E.A.D.S. and Airbus were aware of problems with production of the Airbus A380 when they exercised stock options. Read more..

By NICOLA CLARK - The New York Times

Japan: More Matsushita Plasma Panels

Matsushita said it would increase production capacity at one of its panel factories faster than scheduled to meet demand. Matsushita will triple the annual capacity at a factory in Hyogo Prefecture in western Japan to 6.6 million plasma panels by ... Read more..

By BLOOMBERG NEWS - The New York Times

Scrutiny for Insurers of the Aged

The top-ranking Republican on the Senate Finance Committee has asked 11 long-term care insurance companies to explain “troubling data” regarding how policyholders’ claims are handled and paid. Read more..

By CHARLES DUHIGG - The New York Times

TD Bank to Acquire Commerce

For Toronto-Dominion, the deal to buy Commerce Bancorp provides another way for the Canadian bank to overcome limited growth opportunities at home. Read more..

By IAN AUSTEN - The New York Times

When 2 Is Bigger Than 48

The economies of New Hampshire and Iowa are not similar to the rest of America, a fact that can’t help but skew the political debate. Read more..

By DAVID LEONHARDT - The New York Times

Stock Markets

Values are reported in US Dollars

StockTicker symbolOpenHighLowCloseVolume
Cisco SystemsCSCO32.9032.9732.4332.4537.3M
General ElectricGE41.9542.1141.5041.5526.3M
Oracle Corp.ORCL21.7921.8821.4521.5725.1M
Home DepotHD33.2734.2133.2433.8720.4M
AT&T Inc.T42.0542.3041.7341.9217.8M
Wal-Mart StoresWMT44.6945.6044.4945.1317.1M
Wells Fargo & Co.WFC36.4837.1236.3437.0016.8M
Bristol-Myers SquibbBMY28.9529.9228.7929.7413.5M
UnitedHealth GroupUNH47.8047.8046.5947.0513.4M
JPMorgan ChaseJPM46.7147.4646.6547.0012.7M
HP Inc.HPQ50.7450.8450.1350.369.82M
Abbott LaboratoriesABT55.0355.8654.9155.539.71M
Johnson & JohnsonJNJ65.8766.8065.8266.109.38M
Procter & GamblePG70.7270.8770.2370.418.7M
Verizon CommunicationsVZ45.2545.3844.9045.248.35M
International Business MachinesIBM117.65117.84116.28116.407.91M
Walt Disney & Co.DIS34.6034.9734.5434.725.72M
United TechnologiesUTX80.4080.7079.3979.674.4M
Gilead SciencesGILD41.4141.7041.0641.314.22M
Union PacificUNP112.50113.00110.54111.021.62M
Berkshire HathawayBRK.B3996.503999.003966.003982.0012.6K
Exchange Rates of October 3rd, 2007
CurrenciesExchange Rates
US DollarJapanese Yen1 USD = 116.680 JPY1 JPY = 0.009 USD
US DollarCanadian Dollar1 USD = 0.998 CAD1 CAD = 1.002 USD
US DollarSwiss Franc1 USD = 1.180 CHF1 CHF = 0.847 USD
US DollarChinese Yuan1 USD = 7.506 CNY1 CNY = 0.133 USD
EuroJapanese Yen1 EUR = 164.430 JPY1 JPY = 0.006 EUR
EuroPound Sterling1 EUR = 0.693 GBP1 GBP = 1.442 EUR
EuroAustralian Dollar1 EUR = 1.596 AUD1 AUD = 0.627 EUR
EuroCanadian Dollar1 EUR = 1.406 CAD1 CAD = 0.711 EUR
EuroSwiss Franc1 EUR = 1.663 CHF1 CHF = 0.601 EUR
Japanese YenPound Sterling1 JPY = 0.422 GBP1 GBP = 2.372 JPY
Japanese YenAustralian Dollar1 JPY = 0.970 AUD1 AUD = 1.031 JPY
Japanese YenCanadian Dollar1 JPY = 0.855 CAD1 CAD = 1.170 JPY
Japanese YenSwiss Franc1 JPY = 1.011 CHF1 CHF = 0.989 JPY
Pound SterlingAustralian Dollar1 GBP = 2.302 AUD1 AUD = 0.434 GBP
Pound SterlingCanadian Dollar1 GBP = 2.028 CAD1 CAD = 0.493 GBP
Pound SterlingSwiss Franc1 GBP = 2.398 CHF1 CHF = 0.417 GBP
Australian DollarCanadian Dollar1 AUD = 0.880 CAD1 CAD = 1.136 AUD
Australian DollarSwiss Franc1 AUD = 1.041 CHF1 CHF = 0.960 AUD
Canadian DollarSwiss Franc1 CAD = 1.182 CHF1 CHF = 0.846 CAD

See what else happened on October 3rd, 2007