Financial news on March 7th, 2006

Business and Financial news
Apollo Investment’s Success Spawns Few Followers

Apollo’s public fund, Apollo Investment, had teething pains on its 2004 debut. It has since rebounded smartly and is planning to raise more equity. Yet so far, Apollo’s success hasn’t tempted imitators like KKR or Blackstone to launch similar funds. It might be time for a rethink, writes Antony Currie of BreakingViews. Go to Article […] Read more..

By WRITER - The New York Times

Armed With BlackBerry Bounty, Will NTP Sue Again?

With $612.5 million coming in from the maker of the BlackBerry messaging device, patent holding company NTP has plenty of ammunition for its next move — whatever that may be. After paying the lawyers who helped it extract its settlement from Research in Motion, NTP may use its windfall to pursue an appeal at the […] Read more..

By DEALBOOK - The New York Times

Cisco Picks Up Video Surveillance Firm

Cisco Systems is getting into the security surveillance market with the acquisition of a small company called SyPixx Networks. The networking giant is paying $51 million in cash and options for SyPixx, which has developed software and hardware products that allow existing analog video systems to operate as part of a digital IP network. Go […] Read more..

By WRITER - The New York Times

Dubai Deals in the American Way

Dubai, already a tourism giant, wants to run United States ports and be the Wall Street of the Persian Gulf. Time magazine wonders: Isn’t that the American way? Go to Article from Time magazine » Homeland Security Secretary Michael Chertoff, weighed in on the proposed deal yesterday, saying a takeover of terminal operations at five […] Read more..

By WRITER - The New York Times

General Atlantic Leads Fundraising for Chinese Internet Firm

As General Atlantic moves toward putting a third of its capital to work in Asia, the private equity firm has led a $48 million investment in Beijing-based Internet company Oak Pacific Interactive. Go to Article from VentureWire Professional » Read more..

By WRITER - The New York Times

How J. Jill Was Lost: Liz Claiborne’s Four-Year Saga

As it prepares to merge with Talbots, women’s apparel retailer J. Jill Group has filed a preliminary proxy statement that offers a blow-by-blow timeline of Liz Claiborne‘s long and ultimately failed attempt to buy the company. Though many reports said Liz Claiborne had been chasing J. Jill for two years before losing out to Talbots […] Read more..

By DEALBOOK - The New York Times

Soros Spinoff Raises $1.3 Billion Fund

Private equity firm TowerBrook Capital Partners, founded by senior executives from Soros Private Equity Partners, said it had closed its latest fund, TowerBrook Investors II LP, at $1.3 billion. TowerBrook, which spun out of Soros Private Equity in April with more than $1.3 billion under management at the time, is headed up by co-chief executives […] Read more..

By WRITER - The New York Times

Stock Markets

Values are reported in US Dollars

StockTicker symbolOpenHighLowCloseVolume
Cisco SystemsCSCO20,9220,9820,6820,8747.5M
AT&T Inc.T27,0227,0226,1126,5340.7M
Oracle Corp.ORCL12,7612,9212,7212,8836.2M
General ElectricGE33,0433,2433,0133,1521.7M
Wal-Mart StoresWMT45,1945,3645,0545,2711.2M
HP Inc.HPQ32,7233,1332,6532,9610.5M
Johnson & JohnsonJNJ57,5358,3157,5358,229.56M
JPMorgan ChaseJPM41,2441,6641,0241,489.44M
Verizon CommunicationsVZ33,7333,7733,2833,518.06M
Walt Disney & Co.DIS27,8828,0627,7528,017.85M
Abbott LaboratoriesABT43,4943,8243,0243,537.71M
Procter & GamblePG59,5660,5659,4260,307.37M
Bristol-Myers SquibbBMY22,8122,9222,5322,596.86M
UnitedHealth GroupUNH56,2257,3256,1056,426.31M
Home DepotHD41,6541,6641,2641,375.71M
Wells Fargo & Co.WFC63,7264,6263,4564,495.25M
International Business MachinesIBM79,8680,7979,8680,294.33M
United TechnologiesUTX57,6558,4457,2657,753.04M
Gilead SciencesGILD59,3059,7758,5959,092.48M
Union PacificUNP88,3888,3985,8086,931.4M
Berkshire HathawayBRK.B2934,002947,002923,502940,0022.4K
Exchange Rates of March 7th, 2006
CurrenciesExchange Rates
US DollarJapanese Yen1 USD = 117,860 JPY1 JPY = 0,008 USD
US DollarCanadian Dollar1 USD = 1,150 CAD1 CAD = 0,870 USD
US DollarSwiss Franc1 USD = 1,313 CHF1 CHF = 0,761 USD
US DollarChinese Yuan1 USD = 8,040 CNY1 CNY = 0,124 USD
EuroJapanese Yen1 EUR = 140,080 JPY1 JPY = 0,007 EUR
EuroPound Sterling1 EUR = 0,685 GBP1 GBP = 1,461 EUR
EuroAustralian Dollar1 EUR = 1,620 AUD1 AUD = 0,617 EUR
EuroCanadian Dollar1 EUR = 1,366 CAD1 CAD = 0,732 EUR
EuroSwiss Franc1 EUR = 1,561 CHF1 CHF = 0,641 EUR
Pound SterlingAustralian Dollar1 GBP = 2,366 AUD1 AUD = 0,423 GBP
Pound SterlingCanadian Dollar1 GBP = 1,996 CAD1 CAD = 0,501 GBP
Pound SterlingSwiss Franc1 GBP = 2,280 CHF1 CHF = 0,439 GBP
Australian DollarCanadian Dollar1 AUD = 0,843 CAD1 CAD = 1,186 AUD
Australian DollarSwiss Franc1 AUD = 0,963 CHF1 CHF = 1,038 AUD

See what else happened on March 7th, 2006