Financial news on June 4th, 2010

Business and Financial news
AgBank Signs Agreement With Dutch Rabobank

Rabobank said Friday that it had signed a memorandum of understanding to collaborate with Agricultural Bank of China, the state-run lender poised to go public in what it hopes will be a $30 billion I.P.O. Read more..

By DEALBOOK - The New York Times

Fed Chief Urges Banks to Do More for Small Business

Ben S. Bernanke said that banks needed to increase lending to small businesses to reduce unemployment and help the economic recovery. Read more..

By NICK BUNKLEY - The New York Times

HSBC in Talks to Sell 5 P.E. Units

HSBC Holdings said Friday that it is in talks to sell off its private equity fund management businesses in five separate management buyouts. Read more..

By DEALBOOK - The New York Times

Infogroup Urges Shareholders to Support Sale

Infogroup is urging shareholders to ignore the objections of two of its biggest investors and approve the database provider’s proposed $460 million sale to private equity firm CCMP Capital Advisors later this month, The Associated Press reported. Read more..

By DEALBOOK - The New York Times

Investors to Scour AgBank I.P.O. Docs for Clues

Investors will scour a preliminary prospectus for Agricultural Bank of China’s around $30 billion IPO, the world’s largest, for updates on its book value and bad loans. Read more..

By DEALBOOK - The New York Times

Oblast Between Kursk and Tula

A striking grid design compliments of Martin Ashwood-Smith. Read more..

By PATRICK MERRELL - The New York Times

Palm Oil’s Promotion as Diesel Alternative Draws Fire

Biofuel goals meant to fight climate change are worsening the problem by giving growers an incentive to destroy virgin forests and peatlands that serve as huge carbon sinks, environmental advocates say. Read more..

By BETH GARDINER - International Herald Tribune

Place Your Bets…on Madoff Settlements

Though the amount Bernard L. Madoff’s investors are likely to recover from losses is still unclear, a number of companies are prepared to bet that the compensation will be worth the wait, The Wall Street Journal reported. Read more..

By DEALBOOK - The New York Times

Setting a Standard for Organic Cosmetics

An alliance of five European organizations has created a label for certifying natural and organic cosmetics. It is called Cosmos. Read more..

By YASMINE RYAN - International Herald Tribune

Two Health Care Adversaries Find a Need to Collaborate

The two foes will have to learn to work together to write regulations for the health care law that are mutually satisfying. Read more..

By ROBERT PEAR - The New York Times

Stock Markets

Values are reported in US Dollars

StockTicker symbolOpenHighLowCloseVolume
General ElectricGE16.0816.0815.5615.71114M
Cisco SystemsCSCO23.3223.5522.7622.9660.6M
JPMorgan ChaseJPM38.4938.7037.5037.6252.9M
Wells Fargo & Co.WFC28.2828.4527.6527.7850.7M
AT&T Inc.T24.5224.5424.0324.1736.9M
Oracle Corp.ORCL22.5422.9622.0422.1335.1M
Bristol-Myers SquibbBMY22.7122.8522.3122.4426.6M
Wal-Mart StoresWMT51.4151.7050.2250.4024M
Verizon CommunicationsVZ27.3827.4527.1127.2122.5M
Walt Disney & Co.DIS34.0634.3533.4433.6921.8M
Johnson & JohnsonJNJ58.9659.0357.7658.0121.8M
Abbott LaboratoriesABT47.0447.1046.3746.5321.4M
Home DepotHD32.8832.9031.9432.1520.1M
HP Inc.HPQ46.6947.1045.7946.0518.7M
Procter & GamblePG61.1261.1260.5760.8017.9M
Gilead SciencesGILD35.1135.4834.5634.7117M
UnitedHealth GroupUNH30.0931.6129.8930.3416.7M
International Business MachinesIBM126.37127.10124.67125.289.67M
Berkshire HathawayBRK.B70.9171.2569.7870.197.39M
United TechnologiesUTX66.6266.8164.8865.146.46M
Union PacificUNP71.8371.8469.0069.336.05M
Exchange Rates of June 4th, 2010
CurrenciesExchange Rates
US DollarJapanese Yen1 USD = 91.880 JPY1 JPY = 0.011 USD
US DollarCanadian Dollar1 USD = 1.063 CAD1 CAD = 0.941 USD
US DollarSwiss Franc1 USD = 1.163 CHF1 CHF = 0.860 USD
US DollarChinese Yuan1 USD = 6.830 CNY1 CNY = 0.146 USD
EuroJapanese Yen1 EUR = 109.950 JPY1 JPY = 0.009 EUR
EuroPound Sterling1 EUR = 0.828 GBP1 GBP = 1.208 EUR
EuroAustralian Dollar1 EUR = 1.451 AUD1 AUD = 0.689 EUR
EuroCanadian Dollar1 EUR = 1.272 CAD1 CAD = 0.786 EUR
EuroSwiss Franc1 EUR = 1.391 CHF1 CHF = 0.719 EUR
EuroChinese Yuan1 EUR = 8.162 CNY1 CNY = 0.123 EUR
Japanese YenPound Sterling1 JPY = 0.753 GBP1 GBP = 1.329 JPY
Japanese YenAustralian Dollar1 JPY = 1.321 AUD1 AUD = 0.757 JPY
Japanese YenCanadian Dollar1 JPY = 1.156 CAD1 CAD = 0.865 JPY
Japanese YenSwiss Franc1 JPY = 1.265 CHF1 CHF = 0.790 JPY
Pound SterlingAustralian Dollar1 GBP = 1.755 AUD1 AUD = 0.570 GBP
Pound SterlingCanadian Dollar1 GBP = 1.536 CAD1 CAD = 0.651 GBP
Pound SterlingSwiss Franc1 GBP = 1.680 CHF1 CHF = 0.595 GBP
Pound SterlingChinese Yuan1 GBP = 9.860 CNY1 CNY = 0.101 GBP
Australian DollarCanadian Dollar1 AUD = 0.875 CAD1 CAD = 1.143 AUD
Australian DollarSwiss Franc1 AUD = 0.956 CHF1 CHF = 1.046 AUD
Australian DollarChinese Yuan1 AUD = 5.623 CNY1 CNY = 0.178 AUD
Canadian DollarSwiss Franc1 CAD = 1.093 CHF1 CHF = 0.915 CAD
Canadian DollarChinese Yuan1 CAD = 6.426 CNY1 CNY = 0.156 CAD
Swiss FrancChinese Yuan1 CHF = 5.875 CNY1 CNY = 0.170 CHF

See what else happened on June 4th, 2010