Financial news on August 04, 2006

Business and Financial news
AOL to Cut 5,000 Jobs in Web Access Business

AOL will eliminate more than one-quarter of its work force as it shifts to free services supported by advertising. Read more..

By SAUL HANSELL - The New York Times

A Trader’s Train to Wall Street, Conn.

Thousands of young financial workers ride the rails from Midtown to Connecticut every weekday morning. Read more..

By MICHAEL S. SCHMIDT - The New York Times

Disappointing Earnings Send Sprint Share Price Tumbling

Sprint Nextel reported disappointing second-quarter earnings Thursday, including slower growth than expected in its subscriber base. Read more..

By MATT RICHTEL - The New York Times

Hedge Funds Are Back (Were They Ever Gone?)

Another star of finance is doing what all good stars do these days: start a really, really big hedge fund. Read more..

By JENNY ANDERSON - The New York Times

I.B.M. to Buy Maker of Software That Monitors Equipment

I.B.M. plans to buy MRO Software for $740 million, underlining the increasing importance of software to the company’s big services business. Read more..

By STEVE LOHR - The New York Times

Insurer Settles Charges Over Its Sales to Soldiers

The American Amicable Life Insurance Company was accused of deceiving thousands of U.S. service members. Read more..

By DIANA B. HENRIQUES - The New York Times

Opposing Experts Square Off Over Grasso’s Pay

A jury will begin hearing testimony in the lawsuit filed against Richard A. Grasso by Eliot Spitzer, the New York attorney general. Read more..


Royal Philips Sells Unit for $4.4 Billion

Three private equity firms agreed Thursday to buy the semiconductor unit of Royal Philips Electronics. Read more..

By BLOOMBERG NEWS - The New York Times

SL Green Acquires Reckson Associates for $4 Billion

The owner of such prominent Manhattan office towers as the Graybar building and 100 Park Avenue said it would buy its rival. Read more..

By CLAUDIA H. DEUTSCH - The New York Times

Unilever’s Profit Falls Short of Expectations

The conglomerate, whose brands include Knorr soup, Lipton tea and Dove soap, said sales growth slowed and ingredient prices increased. Read more..

By BLOOMBERG NEWS - The New York Times

Stock Markets

Values are reported in US Dollars

StockTicker symbolOpenHighLowCloseVolume
Cisco SystemsCSCO17,6517,6617,1017,2466.8M
Bristol-Myers SquibbBMY23,0023,0021,7522,7536.9M
Oracle Corp.ORCL14,8414,8714,4914,6235.9M
AT&T Inc.T30,9431,0830,7530,9718.5M
General ElectricGE32,9132,9932,6032,8016M
JPMorgan ChaseJPM45,9646,1044,1245,1214.1M
HP Inc.HPQ32,8833,0632,2332,4412.2M
Home DepotHD35,2035,2234,3634,7110.6M
Walt Disney & Co.DIS30,0830,1229,6029,9010M
Wal-Mart StoresWMT45,1545,4544,6544,879.73M
Abbott LaboratoriesABT47,6047,6046,9647,249.42M
Verizon CommunicationsVZ33,7433,8733,5033,777.93M
Procter & GamblePG59,6559,7659,0959,457.89M
Johnson & JohnsonJNJ63,2563,7063,1863,536.65M
Wells Fargo & Co.WFC73,1873,7872,8273,005.49M
UnitedHealth GroupUNH48,2949,1047,9148,565.25M
International Business MachinesIBM76,6576,7775,3275,915.06M
United TechnologiesUTX63,2463,4061,7862,572.7M
Union PacificUNP86,4287,6983,1583,852.58M
Gilead SciencesGILD62,8063,0060,9161,332.11M
Berkshire HathawayBRK.B3042,003055,003042,003050,0013.3K
Exchange Rates of August 04, 2006
CurrenciesExchange Rates
US DollarJapanese Yen1 USD = 114,400 JPY1 JPY = 0,009 USD
US DollarCanadian Dollar1 USD = 1,128 CAD1 CAD = 0,886 USD
US DollarSwiss Franc1 USD = 1,222 CHF1 CHF = 0,818 USD
US DollarChinese Yuan1 USD = 7,974 CNY1 CNY = 0,125 USD
EuroJapanese Yen1 EUR = 147,310 JPY1 JPY = 0,007 EUR
EuroPound Sterling1 EUR = 0,675 GBP1 GBP = 1,482 EUR
EuroAustralian Dollar1 EUR = 1,682 AUD1 AUD = 0,595 EUR
EuroCanadian Dollar1 EUR = 1,453 CAD1 CAD = 0,688 EUR
EuroSwiss Franc1 EUR = 1,574 CHF1 CHF = 0,635 EUR
Japanese YenPound Sterling1 JPY = 0,458 GBP1 GBP = 2,184 JPY
Japanese YenAustralian Dollar1 JPY = 1,141 AUD1 AUD = 0,877 JPY
Japanese YenCanadian Dollar1 JPY = 0,985 CAD1 CAD = 1,016 JPY
Japanese YenSwiss Franc1 JPY = 1,069 CHF1 CHF = 0,936 JPY
Pound SterlingAustralian Dollar1 GBP = 2,492 AUD1 AUD = 0,401 GBP
Pound SterlingCanadian Dollar1 GBP = 2,153 CAD1 CAD = 0,465 GBP
Pound SterlingSwiss Franc1 GBP = 2,332 CHF1 CHF = 0,429 GBP
Australian DollarCanadian Dollar1 AUD = 0,863 CAD1 CAD = 1,158 AUD
Australian DollarSwiss Franc1 AUD = 0,935 CHF1 CHF = 1,069 AUD
Canadian DollarSwiss Franc1 CAD = 1,085 CHF1 CHF = 0,922 CAD

See what else happened on August 04, 2006