Financial news on June 7th, 2006

Business and Financial news
A Boon for the Richest in an Estate Tax Repeal

Repealing the estate tax, which applies to large fortunes after death, would save a lot of money for a very few people — about one in 6,000, whose estates would each save an average of more than $800,000. Read more..

By DAVID CAY JOHNSTON - The New York Times

Along a Viaduct, a Restaurant Row Emerges

When Pete Skyllas first approached the abandoned freight house at 12th Avenue and 135th Street in West Harlem in search of the owner, all he remembers was the stink. Read more..

By ALISON GREGOR - The New York Times

American Ingenuity Lives On

From the deliciously funny Web site PatentlySilly, it's the cordless jump rope! Read more..

By DAVID POGUE - The New York Times

British Airport Operator Accepts a Takeover Bid

BAA said that it had accepted a takeover offer from the Spanish construction group Ferrovial, ending a nearly four-month fight to remain independent. Read more..

By NICOLA CLARK - The New York Times

Chirac Lukewarm on NYSE Group's Deal for Euronext

The struggle for control over stock exchanges took a political turn as President Jacques Chirac of France said that he preferred an all-European deal. Read more..

By JAMES KANTER - The New York Times

Dell to Upgrade Its Line of Server Computers

The upgraded systems represent a new approach for Dell, which focused on simplifying the task of installing and managing servers, not just selling them. Read more..

By LAURIE J. FLYNN - The New York Times

Lawyer to Join Goldman

By Bloomberg News. Read more..

By BLOOMBERG NEWS - The New York Times

Papers Show Guidant Considered Warning Doctors of Hazards

Newly released company records show that Guidant drafted a letter to doctors last year that disclosed significant defects in its heart device but never sent it. Read more..

By BARRY MEIER - The New York Times

S.E.C. May Act on Options

By Bloomberg News. Read more..

By BLOOMBERG NEWS - The New York Times

What Netflix Could Teach Hollywood

Five million families now have a Netflix account, making it one of the most impressive companies around. So why do so many people think it's doomed? Read more..

By DAVID LEONHARDT - The New York Times

Stock Markets

Values are reported in US Dollars

StockTicker symbolOpenHighLowCloseVolume
Cisco SystemsCSCO20.2620.2719.9019.9140.7M
Oracle Corp.ORCL13.8713.8813.5013.5430.4M
General ElectricGE34.5534.9234.4034.4027.9M
Walt Disney & Co.DIS30.5331.0330.4230.6513.7M
HP Inc.HPQ31.0031.3730.9130.9312.6M
AT&T Inc.T26.8026.9126.5926.5912.2M
Home DepotHD36.9537.3836.6536.7111.7M
Verizon CommunicationsVZ31.8832.0331.6731.8411M
Abbott LaboratoriesABT42.4843.1742.4042.8910.7M
JPMorgan ChaseJPM42.3742.7742.1342.259.96M
Wal-Mart StoresWMT47.0747.7346.9247.049.69M
Johnson & JohnsonJNJ61.1261.6961.0161.179.51M
Procter & GamblePG53.6054.1353.1653.248.44M
International Business MachinesIBM79.7880.7479.1279.157.92M
Wells Fargo & Co.WFC67.6969.0567.6768.236.46M
UnitedHealth GroupUNH46.4946.8846.2146.285.29M
Gilead SciencesGILD56.5957.9856.5956.815.06M
United TechnologiesUTX60.8961.1459.8060.024.71M
Bristol-Myers SquibbBMY25.0125.1724.8824.903.97M
Union PacificUNP89.8690.3286.9187.172.08M
Berkshire HathawayBRK.B3038.003041.503018.003020.006.5K
Exchange Rates of June 7th, 2006
CurrenciesExchange Rates
US DollarJapanese Yen1 USD = 113.390 JPY1 JPY = 0.009 USD
US DollarCanadian Dollar1 USD = 1.113 CAD1 CAD = 0.899 USD
US DollarSwiss Franc1 USD = 1.220 CHF1 CHF = 0.819 USD
US DollarChinese Yuan1 USD = 8.016 CNY1 CNY = 0.125 USD
EuroJapanese Yen1 EUR = 145.110 JPY1 JPY = 0.007 EUR
EuroPound Sterling1 EUR = 0.689 GBP1 GBP = 1.451 EUR
EuroAustralian Dollar1 EUR = 1.726 AUD1 AUD = 0.579 EUR
EuroCanadian Dollar1 EUR = 1.424 CAD1 CAD = 0.702 EUR
EuroSwiss Franc1 EUR = 1.562 CHF1 CHF = 0.640 EUR
Pound SterlingAustralian Dollar1 GBP = 2.504 AUD1 AUD = 0.399 GBP
Pound SterlingCanadian Dollar1 GBP = 2.066 CAD1 CAD = 0.484 GBP
Pound SterlingSwiss Franc1 GBP = 2.266 CHF1 CHF = 0.441 GBP
Australian DollarCanadian Dollar1 AUD = 0.825 CAD1 CAD = 1.213 AUD
Australian DollarSwiss Franc1 AUD = 0.904 CHF1 CHF = 1.106 AUD

See what else happened on June 7th, 2006