Financial news on July 8th, 2010

Business and Financial news
Bid-Rigging Convictions Overturned

A New York State judge has thrown out the convictions of two former executives at the Marsh & McLennan Companies for their roles in an insurance bid-rigging scheme that led to an $850 million settlement with the state, Reuters reported. Read more..

By DEALBOOK - The New York Times

BP Chief Meets U.A.E.’s Mubadala

The chief executive of BPMubadala Wednesday, after discussions with the Abu Dhabi Investment Authority, Reuters reported. Read more..

By DEALBOOK - The New York Times

E.U. Stress Tests to Cover 65 Percent of Financial Sector

In what could be a first step toward restoring confidence in the health of European banks, a panel coordinating stress tests of major institutions said Wednesday that its findings will be disclosed on July 23 and cover institutions representing most of the E.U. banking market. Read more..

By DEALBOOK - The New York Times

Facebook Makes Headway Around the World

In country after country, Facebook is cementing itself as the social networking leader. Read more..

By MIGUEL HELFT - The New York Times

G.M. to Sell Nexteer to Chinese Venture

General Motors has reached a deal to sell its Nexteer steering business to a venture backed by Chinese companies, the Associated Press reports. Read more..

By DEALBOOK - The New York Times

Hedge Funds Stalled by Volatile Markets

Reeling from the worst second-quarter performance in a decade, hedge funds have scaled back trading as they struggle to figure out where markets are headed amid sometimes vicious crosscurrents in stock, commodities and other markets. Read more..

By DEALBOOK - The New York Times

Live From Sun Valley, Day Two

The skies are clear and the conference center bustling as the annual Allen & Company media retreat enters its second day. And the executives are on hand for the yearly ritual of schmoozing with their fellow moguls. Read more..

By DEALBOOK - The New York Times

No Easy Answers in the Copyright Debate

Copyright laws may seem simple. But a discussion over sheet music proves that the issue is not. Read more..

By DAVID POGUE - The New York Times

Suddenly, Mobile Music Services Seem to Be Everywhere

Standbys like Rhapsody and Pandora offer mobile music, but new services are giving users more choices. Read more..

By BOB TEDESCHI - The New York Times

Web Design for Beginners

Finding easy, inexpensive Web design software; and making up with Facebook friends whom you once blocked. Read more..

By J. D. BIERSDORFER - The New York Times

Stock Markets

Values are reported in US Dollars

StockTicker symbolOpenHighLowCloseVolume
General ElectricGE14,8715,1714,5714,8388.4M
Cisco SystemsCSCO22,6722,7922,1522,5555.3M
JPMorgan ChaseJPM38,7838,8237,1538,1641.5M
Wells Fargo & Co.WFC27,0627,0626,1026,6438.2M
Oracle Corp.ORCL23,1423,3422,9623,2227.3M
AT&T Inc.T24,3924,5824,2024,5723.4M
Verizon CommunicationsVZ26,7226,7826,3226,7819.2M
Bristol-Myers SquibbBMY25,9525,9525,3925,5816.7M
Home DepotHD28,3528,3827,7228,1516M
Johnson & JohnsonJNJ60,9361,7360,6461,3815.9M
Abbott LaboratoriesABT47,9048,1547,6848,1015.3M
Procter & GamblePG60,8461,9760,7861,9514.8M
HP Inc.HPQ45,4245,5944,8945,4813.2M
Wal-Mart StoresWMT49,3249,3248,7949,1812.6M
Gilead SciencesGILD34,9935,0734,3434,8212.6M
Walt Disney & Co.DIS33,3333,5432,9033,3410M
UnitedHealth GroupUNH29,3229,8929,2529,689M
Berkshire HathawayBRK.B79,6179,9278,7379,418.43M
International Business MachinesIBM127,37128,15126,74127,975.44M
Union PacificUNP70,7371,6770,1070,894.66M
United TechnologiesUTX67,0767,2466,2967,233.64M
Exchange Rates of July 8th, 2010
CurrenciesExchange Rates
US DollarJapanese Yen1 USD = 88,430 JPY1 JPY = 0,011 USD
US DollarCanadian Dollar1 USD = 1,043 CAD1 CAD = 0,958 USD
US DollarSwiss Franc1 USD = 1,049 CHF1 CHF = 0,953 USD
US DollarChinese Yuan1 USD = 6,777 CNY1 CNY = 0,148 USD
EuroJapanese Yen1 EUR = 112,230 JPY1 JPY = 0,009 EUR
EuroPound Sterling1 EUR = 0,837 GBP1 GBP = 1,195 EUR
EuroAustralian Dollar1 EUR = 1,448 AUD1 AUD = 0,691 EUR
EuroCanadian Dollar1 EUR = 1,325 CAD1 CAD = 0,755 EUR
EuroSwiss Franc1 EUR = 1,332 CHF1 CHF = 0,751 EUR
EuroChinese Yuan1 EUR = 8,605 CNY1 CNY = 0,116 EUR
Japanese YenPound Sterling1 JPY = 0,745 GBP1 GBP = 1,342 JPY
Japanese YenAustralian Dollar1 JPY = 1,289 AUD1 AUD = 0,776 JPY
Japanese YenCanadian Dollar1 JPY = 1,179 CAD1 CAD = 0,848 JPY
Japanese YenSwiss Franc1 JPY = 1,186 CHF1 CHF = 0,843 JPY
Pound SterlingAustralian Dollar1 GBP = 1,730 AUD1 AUD = 0,578 GBP
Pound SterlingCanadian Dollar1 GBP = 1,582 CAD1 CAD = 0,632 GBP
Pound SterlingSwiss Franc1 GBP = 1,591 CHF1 CHF = 0,628 GBP
Pound SterlingChinese Yuan1 GBP = 10,260 CNY1 CNY = 0,097 GBP
Australian DollarCanadian Dollar1 AUD = 0,915 CAD1 CAD = 1,093 AUD
Australian DollarSwiss Franc1 AUD = 0,920 CHF1 CHF = 1,087 AUD
Australian DollarChinese Yuan1 AUD = 5,942 CNY1 CNY = 0,168 AUD
Canadian DollarSwiss Franc1 CAD = 1,005 CHF1 CHF = 0,995 CAD
Canadian DollarChinese Yuan1 CAD = 6,496 CNY1 CNY = 0,154 CAD
Swiss FrancChinese Yuan1 CHF = 6,458 CNY1 CNY = 0,155 CHF

See what else happened on July 8th, 2010