Financial news on August 5th, 2010

Business and Financial news
Asian Shares Fall on Signs of Fitful U.S. Recovery

Most Asian stock markets rose Thursday as economic data relieved worries about a second recession in the world’s biggest economy but gains were modest ahead of a closely watched U.S. jobs report. Read more..

By DEALBOOK - The New York Times

Britain Confirms Unauthorized Sale of Meat From Animal Bred From a Clone

Meat from the offspring of a cloned cow in the United States entered the British food chain without official authorization, according to the Food Standards Agency in Britain. Read more..

By THE ASSOCIATED PRESS - International Herald Tribune

China Said to Conduct its Own Stress Tests

China’s banking regulator told lenders last month to conduct a new round of stress tests to gauge the impact of residential property prices falling as much as 60 percent in the hardest-hit markets, Bloomberg News reported. Read more..

By DEALBOOK - The New York Times

For Fannie Stock, Even Betting Pennies Is a Risk

Shares of the mortgage giant Fannie Mae are almost worthless, but they are trading hands at a furious pace. Read more..

By DAVID GILLEN - The New York Times

I.R.S. Shifts to Combat Tax Evasion

The tax agency’s overhaul will bring together nearly 1,500 employees to focus on international tax issues involving both companies and individuals. Read more..

By LYNNLEY BROWNING - The New York Times

Next Leader for BP Meets Russian Officials in Moscow

Robert Dudley made a crucial protocol stop as he shifts the focus away from plugging the leak in the gulf to selling assets to pay for its cleanup. Read more..

By ANDREW E. KRAMER - The New York Times

Nolan Ryan Group Outbids Cuban for Texas Rangers

A group including Hall of Fame pitcher Nolan Ryan won a bankruptcy auction for the Texas Rangers baseball club, defeating a rival bid by Mark Cuban, the owner of the Dallas Mavericks basketball team, Bloomberg News reported. Read more..

By DEALBOOK - The New York Times

Outsourcing to India Draws Western Lawyers

American and British lawyers — who might once have turned up their noses at the idea of moving to India — are re-evaluating. Read more..

By HEATHER TIMMONS - The New York Times

Toyota Recovers From a Slump to Report a $2.2 Billion Profit

The automaker’s strong sales in emerging markets and aggressive cost-cutting helped reverse its loss of $902 million a year earlier. Read more..

By HIROKO TABUCHI - The New York Times

Vice, a Media Company, Shows Big Brands How to Reach the Hip Crowd

In 2009, companies spent more than $47 billion on custom marketing — from magazines to Web sites — to attract specific audiences. Read more..

By JOSEPH PLAMBECK - The New York Times

Stock Markets

Values are reported in US Dollars

StockTicker symbolOpenHighLowCloseVolume
General ElectricGE16,3516,5416,2716,5246.6M
Cisco SystemsCSCO24,0324,1823,8324,1730.2M
AT&T Inc.T26,5126,9026,5126,7423.5M
Wells Fargo & Co.WFC27,7127,9627,5627,8821.9M
JPMorgan ChaseJPM40,9741,4340,9441,2719.8M
Oracle Corp.ORCL24,2824,4524,1424,2918.7M
Gilead SciencesGILD35,0636,1134,9335,7314.9M
Verizon CommunicationsVZ29,2629,7629,2529,5513.6M
HP Inc.HPQ46,6946,6946,0246,3513.5M
Procter & GamblePG59,5560,2059,4059,8612.6M
Abbott LaboratoriesABT49,9350,0849,7249,9812.3M
Bristol-Myers SquibbBMY25,8326,3825,8026,3812.3M
Johnson & JohnsonJNJ59,5359,8959,5159,769.8M
Home DepotHD28,5228,9328,3328,719.1M
Walt Disney & Co.DIS34,6835,0534,5634,988.41M
UnitedHealth GroupUNH32,7633,4932,6833,427.83M
Wal-Mart StoresWMT51,6451,6751,2251,627.44M
International Business MachinesIBM130,73131,98130,53131,834.52M
Berkshire HathawayBRK.B80,2080,8779,8980,833.81M
Union PacificUNP76,4977,7976,2477,533.09M
United TechnologiesUTX72,3873,3572,1173,203.07M
Exchange Rates of August 5th, 2010
CurrenciesExchange Rates
US DollarJapanese Yen1 USD = 85,840 JPY1 JPY = 0,012 USD
US DollarCanadian Dollar1 USD = 1,017 CAD1 CAD = 0,983 USD
US DollarSwiss Franc1 USD = 1,046 CHF1 CHF = 0,956 USD
US DollarChinese Yuan1 USD = 6,772 CNY1 CNY = 0,148 USD
EuroJapanese Yen1 EUR = 113,170 JPY1 JPY = 0,009 EUR
EuroPound Sterling1 EUR = 0,830 GBP1 GBP = 1,205 EUR
EuroAustralian Dollar1 EUR = 1,440 AUD1 AUD = 0,694 EUR
EuroCanadian Dollar1 EUR = 1,341 CAD1 CAD = 0,746 EUR
EuroSwiss Franc1 EUR = 1,379 CHF1 CHF = 0,725 EUR
EuroChinese Yuan1 EUR = 8,927 CNY1 CNY = 0,112 EUR
Japanese YenPound Sterling1 JPY = 0,733 GBP1 GBP = 1,365 JPY
Japanese YenAustralian Dollar1 JPY = 1,272 AUD1 AUD = 0,786 JPY
Japanese YenCanadian Dollar1 JPY = 1,184 CAD1 CAD = 0,844 JPY
Japanese YenSwiss Franc1 JPY = 1,219 CHF1 CHF = 0,821 JPY
Pound SterlingAustralian Dollar1 GBP = 1,735 AUD1 AUD = 0,576 GBP
Pound SterlingCanadian Dollar1 GBP = 1,616 CAD1 CAD = 0,619 GBP
Pound SterlingSwiss Franc1 GBP = 1,662 CHF1 CHF = 0,602 GBP
Pound SterlingChinese Yuan1 GBP = 10,748 CNY1 CNY = 0,093 GBP
Australian DollarCanadian Dollar1 AUD = 0,931 CAD1 CAD = 1,074 AUD
Australian DollarSwiss Franc1 AUD = 0,958 CHF1 CHF = 1,044 AUD
Australian DollarChinese Yuan1 AUD = 6,197 CNY1 CNY = 0,161 AUD
Canadian DollarSwiss Franc1 CAD = 1,028 CHF1 CHF = 0,972 CAD
Canadian DollarChinese Yuan1 CAD = 6,660 CNY1 CNY = 0,150 CAD
Swiss FrancChinese Yuan1 CHF = 6,470 CNY1 CNY = 0,155 CHF

See what else happened on August 5th, 2010