Financial news on June 8th, 2007

Business and Financial news
As Money Pours in, Hedge Funds Come to Look More Like the Markets

Ray Dalio, the founder of Bridgewater Associates, has some tough questions on why hedge fund returns look so much like returns in the stock market. Read more..

By JENNY ANDERSON - The New York Times

Biomet Accepts Sweetened Takeover Offer

The artificial joint maker accepted a bid of $11.4 billion from a private equity consortium. Read more..

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

Britain: Cadbury Acquires Gum Maker in Turkey

Cadbury Schweppes said it had agreed to buy Intergum of Turkey for $450 million to gain almost half of the country’s chewing gum market. Intergum, which has a 46 percent market share in Turkey, will be acquired from the Amram family, Cadbury... Read more..

By BLOOMBERG NEWS - The New York Times

Dow Jones Enhances the Severance Packages for Senior Managers

Dow Jones said it had amended its compensation plans so that 160 senior managers could take sizable severance payments with them if they were forced out after a sale. Read more..

By ERIC DASH - The New York Times

Do You Want to Be a Music Critic This Summer?

A leading cellphone maker is taking advantage of the increasing interest in mobile marketing by offering music fans ages 18 and up a chance to play critic. Read more..

By STUART ELLIOTT - The New York Times

‘Grey’s’ Star Said to Be Off the Show

Isaiah Washington, a star of the hit ABC television series “Grey’s Anatomy,” was embroiled in a furor after he twice used an anti-gay slur against a co-star. Read more..

By BILL CARTER - The New York Times

Mexico: Cemex Gains Control of Rinker

Cemex, the Mexican cement maker, gained a controlling stake in the Rinker Group of Australia, completing its largest acquisition and increasing its share of the United States market with the $14.2 billion deal. In a filing to the Australian stock ... Read more..

By BLOOMBERG NEWS - The New York Times

Putting the We Back in Wii

Nintendo has changed its strategy in an effort to dominate the newest generation of video game consoles. Read more..

By MARTIN FACKLER - The New York Times

Rise in China’s Pork Prices Signals End to Cheap Output

Rising prices are causing Chinese companies to raise prices for exports, particularly on one critical commodity: pork. Read more..

By KEITH BRADSHER - The New York Times

Web Site Editor at BusinessWeek

John A. Byrne, executive editor of BusinessWeek, was named Thursday to lead the magazine’s Web site. Read more..

By BLOOMBERG NEWS - The New York Times

Stock Markets

Values are reported in US Dollars

StockTicker symbolOpenHighLowCloseVolume
Cisco SystemsCSCO25.8826.5125.8426.4847.3M
Oracle Corp.ORCL18.7319.1018.7319.0635.5M
General ElectricGE36.6937.3436.6537.3230M
AT&T Inc.T39.7040.2939.4840.2623.5M
Procter & GamblePG62.3663.2062.1863.0715.5M
Wal-Mart StoresWMT49.8950.1549.6050.0814.7M
Verizon CommunicationsVZ42.5043.1042.3843.0714.4M
Johnson & JohnsonJNJ62.0562.3561.4662.1313.9M
HP Inc.HPQ45.3245.8045.0445.7813.6M
JPMorgan ChaseJPM49.8350.4849.5450.4113.5M
Abbott LaboratoriesABT54.3554.3553.6354.2912.3M
Bristol-Myers SquibbBMY29.1429.3928.9229.2711.7M
Walt Disney & Co.DIS34.0134.2833.7934.2011.6M
Wells Fargo & Co.WFC35.0735.3835.0435.3410.6M
Home DepotHD37.6638.0037.5737.9510.1M
International Business MachinesIBM101.80103.21101.75103.078.22M
UnitedHealth GroupUNH53.5453.8453.0153.675.84M
United TechnologiesUTX68.9870.2968.8570.235.81M
Gilead SciencesGILD78.2479.4577.9679.004.57M
Union PacificUNP114.82117.09114.71116.652.1M
Berkshire HathawayBRK.B3620.003632.003606.003612.0013.6K
Exchange Rates of June 8th, 2007
CurrenciesExchange Rates
US DollarJapanese Yen1 USD = 121.710 JPY1 JPY = 0.008 USD
US DollarCanadian Dollar1 USD = 1.061 CAD1 CAD = 0.943 USD
US DollarSwiss Franc1 USD = 1.235 CHF1 CHF = 0.810 USD
US DollarChinese Yuan1 USD = 7.655 CNY1 CNY = 0.131 USD
EuroJapanese Yen1 EUR = 162.760 JPY1 JPY = 0.006 EUR
EuroPound Sterling1 EUR = 0.679 GBP1 GBP = 1.474 EUR
EuroAustralian Dollar1 EUR = 1.582 AUD1 AUD = 0.632 EUR
EuroCanadian Dollar1 EUR = 1.418 CAD1 CAD = 0.705 EUR
EuroSwiss Franc1 EUR = 1.652 CHF1 CHF = 0.605 EUR
Japanese YenPound Sterling1 JPY = 0.417 GBP1 GBP = 2.400 JPY
Japanese YenAustralian Dollar1 JPY = 0.972 AUD1 AUD = 1.029 JPY
Japanese YenCanadian Dollar1 JPY = 0.871 CAD1 CAD = 1.148 JPY
Japanese YenSwiss Franc1 JPY = 1.015 CHF1 CHF = 0.986 JPY
Pound SterlingAustralian Dollar1 GBP = 2.332 AUD1 AUD = 0.429 GBP
Pound SterlingCanadian Dollar1 GBP = 2.089 CAD1 CAD = 0.479 GBP
Pound SterlingSwiss Franc1 GBP = 2.433 CHF1 CHF = 0.411 GBP
Australian DollarCanadian Dollar1 AUD = 0.896 CAD1 CAD = 1.117 AUD
Australian DollarSwiss Franc1 AUD = 1.043 CHF1 CHF = 0.959 AUD
Canadian DollarSwiss Franc1 CAD = 1.164 CHF1 CHF = 0.859 CAD

See what else happened on June 8th, 2007