Financial news on March 6th, 2006

Business and Financial news
General Motors Board May Review Cerberus Bid for GMAC

General Motors Corp.’s board may review a bid for a majority of its finance unit today as the automaker seeks preliminary agreement on a sale this month, Bloomberg reported. The leading offer for 51 percent of General Motors Acceptance Corp. comes from a group led by buyout firm Cerberus Capital Management LP. Go to Article […] Read more..

By WRITER - The New York Times

HSBC Reports Record Profit

HSBC Holdings Plc, Europe’s biggest bank by market value, reported a 17 percent increase in 2005 profit, helped by consumer lending outside Britain. Net income rose to $15.08 billion from $12.92 billion a year earlier, the London-based lender said today in a Regulatory News Service statement. That beat the $14.51 billion median estimate of 11 […] Read more..

By WRITER - The New York Times

Phone Giants Line Up All-Star Antitrust Team

It’s too early to tell whether AT&T and BellSouth will hit any regulatory snags in their proposed $67 billion merger. Given the roster of high-powered antitrust lawyers they’re bringing into the deal, though, it’s clear they aren’t taking any chances. AT&T has turned to Washington, D.C.-based Arnold & Porter for antitrust advice. That’s the same […] Read more..

By DEALBOOK - The New York Times

Spanish Giant May Be Weighing Bid for BAA

BAA is on alert as speculation swirled in Madrid that a Spanish-led consortium could launch a 10 billion pound assault in the next week. The consortium is being spearheaded by Spanish construction giant Ferrovial, chaired by Spanish multi-millionaire Rafael de Pino. He is believed to be on the verge of receiving financial backing from Santander, […] Read more..

By WRITER - The New York Times

Two Knight Ridder Suitors Losing Interest

Two groups of private investment firms that have been weighing takeover offers for newspaper chain Knight Ridder appear to be fading as serious contenders for the San Jose, Calif.-based company. A group made up of Kohlberg Kravis Roberts & Co., Blackstone Group and Providence Equity Partners and a second composed of Bain Capital, Hellman & […] Read more..

By WRITER - The New York Times

UPDATE: Is NBC Stealing iVillage at $600 Million?

As NBC Universal unveils its $600 million deal for women’s Internet network iVillage, venture capitalist Paul Kedrosky crunches the numbers. His conclusion: “This is an unqualified good deal for NBC,” he writes, comparing the price tag to last year’s $580 million purchase of MySpace by News Corporation. [General Electric‘s] NBC unit isn’t paying anything like […] Read more..

By DEALBOOK - The New York Times

Stock Markets

Values are reported in US Dollars

StockTicker symbolOpenHighLowCloseVolume
Cisco SystemsCSCO20.9521.4820.8821.0585.2M
AT&T Inc.T27.3427.7026.7827.0262.6M
Oracle Corp.ORCL12.7912.9612.7312.7748.6M
General ElectricGE33.1133.2532.9533.1021.4M
Verizon CommunicationsVZ33.7034.2133.1733.7321M
HP Inc.HPQ33.3033.5432.5832.8611.1M
JPMorgan ChaseJPM41.4841.8141.1441.439.78M
Wal-Mart StoresWMT45.5045.5444.9745.129.75M
Home DepotHD42.1642.1841.5441.658.2M
Walt Disney & Co.DIS28.1528.2227.8827.887.48M
Johnson & JohnsonJNJ57.5758.0757.5157.857.35M
Abbott LaboratoriesABT43.8044.1343.5643.687.06M
UnitedHealth GroupUNH56.3056.7856.2456.705.8M
Bristol-Myers SquibbBMY22.9323.0122.7422.814.83M
International Business MachinesIBM80.0580.6479.9080.004.71M
Procter & GamblePG59.5559.9659.5059.674.55M
Wells Fargo & Co.WFC63.6963.8963.4163.723.86M
United TechnologiesUTX57.9057.9557.4057.723.3M
Gilead SciencesGILD60.2060.3758.8559.502.77M
Union PacificUNP89.4089.5588.3088.381.2M
Berkshire HathawayBRK.B2928.002945.002920.002938.5019.6K
Exchange Rates of March 6th, 2006
CurrenciesExchange Rates
US DollarJapanese Yen1 USD = 117.550 JPY1 JPY = 0.009 USD
US DollarCanadian Dollar1 USD = 1.139 CAD1 CAD = 0.878 USD
US DollarSwiss Franc1 USD = 1.298 CHF1 CHF = 0.770 USD
US DollarChinese Yuan1 USD = 8.035 CNY1 CNY = 0.124 USD
EuroJapanese Yen1 EUR = 141.250 JPY1 JPY = 0.007 EUR
EuroPound Sterling1 EUR = 0.687 GBP1 GBP = 1.456 EUR
EuroAustralian Dollar1 EUR = 1.622 AUD1 AUD = 0.616 EUR
EuroCanadian Dollar1 EUR = 1.368 CAD1 CAD = 0.731 EUR
EuroSwiss Franc1 EUR = 1.560 CHF1 CHF = 0.641 EUR
Pound SterlingAustralian Dollar1 GBP = 2.363 AUD1 AUD = 0.423 GBP
Pound SterlingCanadian Dollar1 GBP = 1.993 CAD1 CAD = 0.502 GBP
Pound SterlingSwiss Franc1 GBP = 2.272 CHF1 CHF = 0.440 GBP
Australian DollarCanadian Dollar1 AUD = 0.843 CAD1 CAD = 1.186 AUD
Australian DollarSwiss Franc1 AUD = 0.961 CHF1 CHF = 1.040 AUD

See what else happened on March 6th, 2006