Financial news on May 4th, 2010

Business and Financial news
Cowdery Secures Backing for a Prudential Deal

Clive Cowdery’s Resolution has secured bank backing to the tune of billions of dollars in order to finance a potential bid for the U.K. assets of Prudential, The Telegraph reported. Read more..

By DEALBOOK - The New York Times

Fed Transcripts Stoke Debate on Rates

Fed chairman Ben Bernanke has argued that lax regulation, not short-term rates, was behind the bubble. The transcripts show the Fed’s thinking as housing prices rose. Read more..

By SEWELL CHAN - The New York Times

Google Puts Millions in Wind Farms

In a blog post, Google said it had invested $38.8 million in two North Dakota wind farms, part of a larger push by its expanding venture capital unit. Read more..

By DEALBOOK - The New York Times

Growing Budget Deficit Haunts Hungary

Hungary suffered badly in the economic downturn and has struggled with its debt, two years after a $20 billion loan to avoid default. Read more..

By JUDY DEMPSEY - The New York Times

In Greek Crisis, a Window on German Psyche

An instinctive frugality shaped Germany’s response to the Greek crisis, a trait that separates the nation from most of its European neighbors. Read more..

By DEALBOOK - The New York Times

Japan's Tethers on Privileged Business Fliers

Limited airport access, high landing fees and cumbersome regulations have kept the nation's private aviation industry surprisingly underdeveloped. Read more..

By SONIA KOLESNIKOV-JESSOP - International Herald Tribune

Proactiv Commercial With Katy Perry

A 60-second spot is part of a new campaign advertising the skin care line Proactiv like a mainstream brand. Read more..

Amedeo Tumolillo - The New York Times

Trying to Move Up From a Fast-Talking, Buy-Now Approach

A new campaign advertises the skin care line Proactiv like a mainstream brand, not one that might be shown as a direct-response spot or infomercial. Read more..

By STUART ELLIOTT - The New York Times

Who Gets Hedge Fund Vote in British Elections?

The British hedge fund industry only seems to trust the Conservatives, The Guardian reported, if you go by campaign donations. Read more..

By DEALBOOK - The New York Times

Stock Markets

Values are reported in US Dollars

StockTicker symbolOpenHighLowCloseVolume
General ElectricGE19.0619.0718.3518.5894.1M
Wells Fargo & Co.WFC33.4133.9732.7232.8953.8M
Cisco SystemsCSCO27.2427.2526.4026.5652.3M
JPMorgan ChaseJPM42.9743.3642.2542.4749M
Oracle Corp.ORCL25.5825.6724.7124.9748.4M
Verizon CommunicationsVZ29.1429.1628.5328.7536.8M
AT&T Inc.T26.3226.4325.7525.9031.4M
Home DepotHD35.5635.5934.7935.4225.5M
Abbott LaboratoriesABT50.6650.8649.7250.1921.7M
Gilead SciencesGILD39.3639.5138.4238.5320.9M
HP Inc.HPQ52.2052.2550.3050.6420M
Wal-Mart StoresWMT53.5954.5753.5554.0218.7M
Bristol-Myers SquibbBMY25.1025.7025.0225.2716.8M
Johnson & JohnsonJNJ65.0765.2864.4164.7014.9M
Walt Disney & Co.DIS37.2937.3036.3236.5913.2M
UnitedHealth GroupUNH30.0130.0529.2829.4911.7M
Procter & GamblePG62.3062.5361.5661.7111.4M
International Business MachinesIBM128.89128.93126.58128.128.28M
United TechnologiesUTX75.6175.6173.4574.165.43M
Berkshire HathawayBRK.B78.0578.0576.2976.614.66M
Union PacificUNP76.4476.4474.3375.063.28M
Exchange Rates of May 4th, 2010
CurrenciesExchange Rates
US DollarJapanese Yen1 USD = 94.670 JPY1 JPY = 0.011 USD
US DollarCanadian Dollar1 USD = 1.025 CAD1 CAD = 0.976 USD
US DollarSwiss Franc1 USD = 1.104 CHF1 CHF = 0.906 USD
US DollarChinese Yuan1 USD = 6.827 CNY1 CNY = 0.146 USD
EuroJapanese Yen1 EUR = 122.800 JPY1 JPY = 0.008 EUR
EuroPound Sterling1 EUR = 0.857 GBP1 GBP = 1.167 EUR
EuroAustralian Dollar1 EUR = 1.427 AUD1 AUD = 0.701 EUR
EuroCanadian Dollar1 EUR = 1.329 CAD1 CAD = 0.752 EUR
EuroSwiss Franc1 EUR = 1.433 CHF1 CHF = 0.698 EUR
EuroChinese Yuan1 EUR = 8.851 CNY1 CNY = 0.113 EUR
Japanese YenPound Sterling1 JPY = 0.697 GBP1 GBP = 1.434 JPY
Japanese YenAustralian Dollar1 JPY = 1.161 AUD1 AUD = 0.861 JPY
Japanese YenCanadian Dollar1 JPY = 1.082 CAD1 CAD = 0.924 JPY
Japanese YenSwiss Franc1 JPY = 1.166 CHF1 CHF = 0.858 JPY
Pound SterlingAustralian Dollar1 GBP = 1.665 AUD1 AUD = 0.601 GBP
Pound SterlingCanadian Dollar1 GBP = 1.551 CAD1 CAD = 0.645 GBP
Pound SterlingSwiss Franc1 GBP = 1.671 CHF1 CHF = 0.598 GBP
Pound SterlingChinese Yuan1 GBP = 10.314 CNY1 CNY = 0.097 GBP
Australian DollarCanadian Dollar1 AUD = 0.931 CAD1 CAD = 1.074 AUD
Australian DollarSwiss Franc1 AUD = 1.003 CHF1 CHF = 0.997 AUD
Australian DollarChinese Yuan1 AUD = 6.200 CNY1 CNY = 0.161 AUD
Canadian DollarSwiss Franc1 CAD = 1.077 CHF1 CHF = 0.928 CAD
Canadian DollarChinese Yuan1 CAD = 6.659 CNY1 CNY = 0.150 CAD
Swiss FrancChinese Yuan1 CHF = 6.177 CNY1 CNY = 0.162 CHF

See what else happened on May 4th, 2010