Financial news on October 6th, 2010

Business and Financial news
Allied Irish Selling $2.2 Billion Stake in M&T

Allied Irish Banks will sell a 22 percent stake, valued at around $2.2 billion, in M&T Bank in a public offering, the bank said in a statement on Tuesday. Read more..

By DEALBOOK - The New York Times

Bailout Loss Estimated at $29 Billion

The Treasury Department expects to lose $29 billion on the federal bailouts stemming from the financial crisis, with most of the losses in its housing finance program and the auto rescue. Read more..

By LOUISE STORY - The New York Times

BofA Quits Wholesale Mortgage Lending

Bank of America closed its wholesale mortgage-lending operations on Tuesday, steering business toward loans to consumers and community banks, The Wall Street Journal reported. Read more..

By DEALBOOK - The New York Times

Fund Manager’s Teddy Bear Collection on the Block

Paul Greenwood, the former hedge fund manager who pleaded guilty to fraud charges, is being forced to part with his prized teddy bear collection, according to press reports. Read more..

By DEALBOOK - The New York Times

Linc Logistics I.P.O. Could Raise $126.3 Million

Linc Logistics, which provides inventory management and transportation services to auto companies, could raise as much as $126.3 million in an initial public offering this week. Read more..

By DEALBOOK - The New York Times

Microsoft Backs AppNexus in $50 Million Round

Microsoft has joined the third round of financing for AppNexus, a real-time ad platform, which raised $50 million this go-round. Read more..

By DEALBOOK - The New York Times

Morning Take-Out

Why globalization is bad for you; the economists who saved Brazil; a mind map of the digital age. Read more..

By DEALBOOK - The New York Times

Paulson’s Flagship Fund Up 12 Percent

Advantage Plus, John Paulson’s flagship fund, jumped more than 12 percent last month, recovering this year’s losses and bolstered by a surprising September stock-market rally. Read more..

By DEALBOOK - The New York Times

Potash Slams Report on BHP Takeover Bid

The Potash Corporation slammed a report that favors BHP Billiton’s $39 billion offer for the fertilizer maker over a potential bid from a state-owned Chinese entity. Read more..

By DEALBOOK - The New York Times

TV’s Future Has Arrived (Almost)

Two new set-top boxes from Roku and Apple, though flawed, offer ways to supply on-demand TV shows, provide Internet access and obtain movies. Read more..

By DAVID POGUE - The New York Times

Stock Markets

Values are reported in US Dollars

StockTicker symbolOpenHighLowCloseVolume
General ElectricGE16.4917.0016.4616.9074M
Cisco SystemsCSCO22.0322.4022.0122.3052.8M
Oracle Corp.ORCL27.3027.8627.2427.5850.6M
AT&T Inc.T29.0529.0528.2428.6249M
Verizon CommunicationsVZ33.1433.4832.7433.3639.2M
Wells Fargo & Co.WFC26.2226.4926.1326.3031.9M
JPMorgan ChaseJPM39.5640.0739.4239.9031.6M
HP Inc.HPQ41.0541.2240.4440.7425.9M
UnitedHealth GroupUNH35.0435.2233.9433.9513.8M
Walt Disney & Co.DIS33.8433.9833.4433.7211.3M
Johnson & JohnsonJNJ62.8963.2662.5063.2111.3M
Wal-Mart StoresWMT53.9254.6353.9054.5610.4M
Abbott LaboratoriesABT52.9753.2252.6652.9810.2M
Home DepotHD31.7731.8731.5431.749.96M
Gilead SciencesGILD36.0236.1035.4335.758.46M
Bristol-Myers SquibbBMY27.1027.2827.0927.198.15M
Procter & GamblePG60.7560.9960.3060.877.23M
International Business MachinesIBM136.88137.96136.83137.844.78M
United TechnologiesUTX72.3872.9572.3872.873.95M
Berkshire HathawayBRK.B83.2683.5482.8283.543.36M
Union PacificUNP82.4083.2982.2383.292.2M
Exchange Rates of October 6th, 2010
CurrenciesExchange Rates
US DollarJapanese Yen1 USD = 82.910 JPY1 JPY = 0.012 USD
US DollarCanadian Dollar1 USD = 1.011 CAD1 CAD = 0.989 USD
US DollarSwiss Franc1 USD = 0.962 CHF1 CHF = 1.040 USD
US DollarChinese Yuan1 USD = 6.689 CNY1 CNY = 0.149 USD
EuroJapanese Yen1 EUR = 115.455 JPY1 JPY = 0.009 EUR
EuroPound Sterling1 EUR = 0.877 GBP1 GBP = 1.141 EUR
EuroAustralian Dollar1 EUR = 1.425 AUD1 AUD = 0.702 EUR
EuroCanadian Dollar1 EUR = 1.408 CAD1 CAD = 0.710 EUR
EuroSwiss Franc1 EUR = 1.340 CHF1 CHF = 0.746 EUR
EuroChinese Yuan1 EUR = 9.321 CNY1 CNY = 0.107 EUR
Japanese YenPound Sterling1 JPY = 0.759 GBP1 GBP = 1.318 JPY
Japanese YenAustralian Dollar1 JPY = 1.234 AUD1 AUD = 0.810 JPY
Japanese YenCanadian Dollar1 JPY = 1.219 CAD1 CAD = 0.821 JPY
Japanese YenSwiss Franc1 JPY = 1.160 CHF1 CHF = 0.862 JPY
Pound SterlingAustralian Dollar1 GBP = 1.626 AUD1 AUD = 0.615 GBP
Pound SterlingCanadian Dollar1 GBP = 1.606 CAD1 CAD = 0.623 GBP
Pound SterlingSwiss Franc1 GBP = 1.528 CHF1 CHF = 0.655 GBP
Pound SterlingChinese Yuan1 GBP = 10.622 CNY1 CNY = 0.094 GBP
Australian DollarCanadian Dollar1 AUD = 0.987 CAD1 CAD = 1.013 AUD
Australian DollarSwiss Franc1 AUD = 0.939 CHF1 CHF = 1.065 AUD
Australian DollarChinese Yuan1 AUD = 6.538 CNY1 CNY = 0.153 AUD
Canadian DollarSwiss Franc1 CAD = 0.951 CHF1 CHF = 1.051 CAD
Canadian DollarChinese Yuan1 CAD = 6.632 CNY1 CNY = 0.151 CAD
Swiss FrancChinese Yuan1 CHF = 6.963 CNY1 CNY = 0.144 CHF

See what else happened on October 6th, 2010