Financial news on September 7th, 2010

Business and Financial news
9 Years After 9/11, Public Safety Radio Not Ready

Despite a $7 billion effort, experts say a nationwide public safety radio system may never become a reality. Read more..

By EDWARD WYATT - The New York Times

Ads Urge Wineries to Stick a Cork in It

The Portugese cork industry, backed by the Portuguese government, is going all out to market the green qualities of cork over aluminum twist-off caps or plastic stoppers. Read more..

By STUART ELLIOTT - The New York Times

European ‘Stress Tests’ Blurred Risky Debt

The European “stress tests,” that looked at the viability of the continent’s major banks under a number of hypothetical scenarios, undersold the amount of potentially risky government debt held by some of the institutions tested, The Wall Street Journal reported. Read more..

By DEALBOOK - The New York Times

Gartmore Fund Is Said to Back Away From Firm

Gartmore Growth Opportunities may be breaking away from its namesake hedge fund management firm, The Financial Times reported. Read more..

By DEALBOOK - The New York Times

Many Line Up to Go Public, but Market Mood Is Iffy

Two years after the financial crisis, the stock market remains fragile. While there has been a robust rally in bonds, with companies aggressively issuing debt to take advantage of low interest rates, the appetite for equity remains weak. Read more..

By DEALBOOK - The New York Times

Menlo Ventures Looks to Raise Up to $800 Million

The primary investor of 3Par, Menlo Ventures, is looking to raise $600 – $800 million for a new fund that would surpass Battery Ventures’ and Institutional Venture Partners’ $750 million funds raised this year, according to a report by Bloomberg News. Read more..

By DEALBOOK - The New York Times

Morgenson: BB? AAA? Disclosure Tells Us More

For investors who believe the credit rating agencies have escaped responsibility for sins committed during the mortgage mayhem, the wrist slap last week of Moody’s Investors Service by the Securities and Exchange Commission was just the last in a long line of missed opportunities, Gretchen Morgenson writes in her Fair Game column for The New York Times. Read more..

By DEALBOOK - The New York Times

Soros to Donate $100 Million to Rights Group

The billionaire investor and philanthropist George Soros will help an advocacy group that investigates human rights abuses around the world. Read more..

By STEPHANIE STROM - The New York Times

Takeover Offer for Airgas Is Sweetened

Air Products raised its takeover offer for Airgas to $5.48 billion in cash. Read more..

By MICHAEL J. de la MERCED - The New York Times

Stock Markets

Values are reported in US Dollars

StockTicker symbolOpenHighLowCloseVolume
Oracle Corp.ORCL24.5624.6924.0124.27114M
Cisco SystemsCSCO20.9020.9920.5320.5860.6M
General ElectricGE15.2815.5015.2115.4455.4M
JPMorgan ChaseJPM38.7338.8438.2238.2831.9M
Wells Fargo & Co.WFC25.5725.6824.9124.9231M
HP Inc.HPQ39.7540.1639.7139.9220.7M
AT&T Inc.T27.4027.4527.1427.2718.2M
Verizon CommunicationsVZ30.2030.4730.0730.2213.4M
Walt Disney & Co.DIS34.5034.6333.6633.8410.7M
Wal-Mart StoresWMT52.0752.5651.8451.8610.6M
Bristol-Myers SquibbBMY26.4526.7626.3726.6110M
Abbott LaboratoriesABT50.5050.7950.3650.499.69M
Home DepotHD29.6629.8029.2829.338.61M
Gilead SciencesGILD33.9933.9933.1333.237.83M
Procter & GamblePG60.0160.4559.9260.147.42M
UnitedHealth GroupUNH33.7634.0933.6233.786.83M
Johnson & JohnsonJNJ58.8058.9758.6358.705.63M
Berkshire HathawayBRK.B80.8981.5280.7180.795.11M
International Business MachinesIBM126.99127.36125.88125.954.35M
United TechnologiesUTX68.0168.4167.6767.983.76M
Union PacificUNP78.1679.1878.0078.362.79M
Exchange Rates of September 7th, 2010
CurrenciesExchange Rates
US DollarJapanese Yen1 USD = 83.770 JPY1 JPY = 0.012 USD
US DollarCanadian Dollar1 USD = 1.048 CAD1 CAD = 0.955 USD
US DollarSwiss Franc1 USD = 1.011 CHF1 CHF = 0.989 USD
US DollarChinese Yuan1 USD = 6.792 CNY1 CNY = 0.147 USD
EuroJapanese Yen1 EUR = 106.250 JPY1 JPY = 0.009 EUR
EuroPound Sterling1 EUR = 0.826 GBP1 GBP = 1.211 EUR
EuroAustralian Dollar1 EUR = 1.392 AUD1 AUD = 0.718 EUR
EuroCanadian Dollar1 EUR = 1.328 CAD1 CAD = 0.753 EUR
EuroSwiss Franc1 EUR = 1.283 CHF1 CHF = 0.780 EUR
EuroChinese Yuan1 EUR = 8.620 CNY1 CNY = 0.116 EUR
Japanese YenPound Sterling1 JPY = 0.777 GBP1 GBP = 1.287 JPY
Japanese YenAustralian Dollar1 JPY = 1.310 AUD1 AUD = 0.763 JPY
Japanese YenCanadian Dollar1 JPY = 1.250 CAD1 CAD = 0.800 JPY
Japanese YenSwiss Franc1 JPY = 1.207 CHF1 CHF = 0.828 JPY
Pound SterlingAustralian Dollar1 GBP = 1.686 AUD1 AUD = 0.593 GBP
Pound SterlingCanadian Dollar1 GBP = 1.608 CAD1 CAD = 0.622 GBP
Pound SterlingSwiss Franc1 GBP = 1.552 CHF1 CHF = 0.644 GBP
Pound SterlingChinese Yuan1 GBP = 10.424 CNY1 CNY = 0.096 GBP
Australian DollarCanadian Dollar1 AUD = 0.954 CAD1 CAD = 1.048 AUD
Australian DollarSwiss Franc1 AUD = 0.921 CHF1 CHF = 1.086 AUD
Australian DollarChinese Yuan1 AUD = 6.188 CNY1 CNY = 0.162 AUD
Canadian DollarSwiss Franc1 CAD = 0.965 CHF1 CHF = 1.036 CAD
Canadian DollarChinese Yuan1 CAD = 6.487 CNY1 CNY = 0.154 CAD
Swiss FrancChinese Yuan1 CHF = 6.719 CNY1 CNY = 0.149 CHF

See what else happened on September 7th, 2010