Financial news on August 10th, 2010

Business and Financial news
Fed Will Meet With Concerns on Deflation Rising

The Federal Reserve will meet on Tuesday faced with a pivotal decision about whether to abandon its presumption that the economy is gradually picking up steam and begin to consider new steps to keep the recovery from sputtering out. Read more..

By DEALBOOK - The New York Times

Fed Will Meet With Concerns on Deflation Rising

The Federal Reserve on Tuesday will face a key decision: whether to drop the idea that the economy is improving. Read more..

By SEWELL CHAN - The New York Times

Little Caesars Mogul Eyes Detroit Pistons

Mike Ilitch, the Little Caesars pizza mogul who already owns the Detroit Tigers and Detroit Red Wings, said Monday that he wants to buy the Detroit Pistons in part to make sure another buyer doesn’t move the NBA franchise out of town, The Associated Press reported. Read more..

By DEALBOOK - The New York Times

MediaMind Focusing on $73 Million I.P.O.

Digital advertising company MediaMind Technologies plans to raise about $73 million in an initial public offering this week, The Associated Press reported. Read more..

By DEALBOOK - The New York Times

New Drinks Lift Domestic Sales for McDonald’s

Sales at restaurants in the United States rose 5.7 percent — its biggest monthly increase since a 6.7 percent gain in July 2008. Read more..


Royal Bank of Canada Looking to Sell Liberty Life

Royal Bank of Canada, the country’s worst-performing bank stock this year, has approached potential buyers for a United States insurance unit it acquired for $650 million a decade ago, Bloomberg News reported, citing people with knowledge of the matter. Read more..

By DEALBOOK - The New York Times

Sara Lee Chief Is Leaving After a Stroke

The food maker said Brenda Barnes, on medical leave since May, would step down to focus on improving her health. Read more..


Showcasing Durability in a Soft Economy

Although it has sold work wear since 1922, Dickies found that it needed to make shoppers more aware of its brand. Read more..

By ELIZABETH OLSON - The New York Times

Solazyme Bottles $52 Million for Algae-Based Fuel

San Francisco-based biofuel company Solazyme announced Tuesday that it has landed $52 million in a fourth round of venture capital to commercialize its algae-based fuel. Morgan Stanley joined its flock of backers, which also includes Chevron Technology Ventures. Read more..

By DEALBOOK - The New York Times

Where Could Hurd Go?

Instead of asking who could replace Mark Hurd at Hewlett-Packard, Fortune asks: who would want Mr. Hurd? The answer: lots of companies. Read more..

By DEALBOOK - The New York Times

Stock Markets

Values are reported in US Dollars

StockTicker symbolOpenHighLowCloseVolume
HP Inc.HPQ42.8542.9842.1642.3373.3M
Cisco SystemsCSCO24.4624.5924.1624.3159.2M
General ElectricGE16.1916.3415.9616.2553.2M
JPMorgan ChaseJPM39.6739.7339.1639.1734.2M
Wells Fargo & Co.WFC27.9428.0727.5127.7729.8M
Oracle Corp.ORCL24.1024.4323.9224.2928.1M
AT&T Inc.T26.7127.0826.6627.0126.6M
Abbott LaboratoriesABT50.6751.7050.5951.4718.7M
Verizon CommunicationsVZ29.7330.1429.5630.0214.9M
Home DepotHD28.4028.5228.0228.2413.9M
Johnson & JohnsonJNJ59.4159.8158.9059.4313.6M
Procter & GamblePG60.1061.3460.0860.7813.5M
Walt Disney & Co.DIS34.8935.4134.7335.2912.4M
Gilead SciencesGILD35.5936.1335.3735.7910M
Wal-Mart StoresWMT51.9152.4851.6952.228.85M
UnitedHealth GroupUNH33.3033.6232.9633.337.96M
Bristol-Myers SquibbBMY26.3226.7826.3026.667.01M
International Business MachinesIBM131.18132.49130.77131.845.47M
United TechnologiesUTX72.8273.8171.9373.394.09M
Berkshire HathawayBRK.B79.9680.4479.0879.733.3M
Union PacificUNP77.3677.9176.4277.662M
Exchange Rates of August 10th, 2010
CurrenciesExchange Rates
US DollarJapanese Yen1 USD = 85.330 JPY1 JPY = 0.012 USD
US DollarCanadian Dollar1 USD = 1.030 CAD1 CAD = 0.970 USD
US DollarSwiss Franc1 USD = 1.048 CHF1 CHF = 0.954 USD
US DollarChinese Yuan1 USD = 6.773 CNY1 CNY = 0.148 USD
EuroJapanese Yen1 EUR = 112.420 JPY1 JPY = 0.009 EUR
EuroPound Sterling1 EUR = 0.831 GBP1 GBP = 1.203 EUR
EuroAustralian Dollar1 EUR = 1.444 AUD1 AUD = 0.693 EUR
EuroCanadian Dollar1 EUR = 1.357 CAD1 CAD = 0.737 EUR
EuroSwiss Franc1 EUR = 1.381 CHF1 CHF = 0.724 EUR
EuroChinese Yuan1 EUR = 8.929 CNY1 CNY = 0.112 EUR
Japanese YenPound Sterling1 JPY = 0.739 GBP1 GBP = 1.353 JPY
Japanese YenAustralian Dollar1 JPY = 1.283 AUD1 AUD = 0.779 JPY
Japanese YenCanadian Dollar1 JPY = 1.207 CAD1 CAD = 0.829 JPY
Japanese YenSwiss Franc1 JPY = 1.228 CHF1 CHF = 0.814 JPY
Pound SterlingAustralian Dollar1 GBP = 1.736 AUD1 AUD = 0.576 GBP
Pound SterlingCanadian Dollar1 GBP = 1.633 CAD1 CAD = 0.612 GBP
Pound SterlingSwiss Franc1 GBP = 1.661 CHF1 CHF = 0.602 GBP
Pound SterlingChinese Yuan1 GBP = 10.731 CNY1 CNY = 0.093 GBP
Australian DollarCanadian Dollar1 AUD = 0.940 CAD1 CAD = 1.064 AUD
Australian DollarSwiss Franc1 AUD = 0.956 CHF1 CHF = 1.046 AUD
Australian DollarChinese Yuan1 AUD = 6.190 CNY1 CNY = 0.162 AUD
Canadian DollarSwiss Franc1 CAD = 1.017 CHF1 CHF = 0.983 CAD
Canadian DollarChinese Yuan1 CAD = 6.575 CNY1 CNY = 0.152 CAD
Swiss FrancChinese Yuan1 CHF = 6.464 CNY1 CNY = 0.155 CHF

See what else happened on August 10th, 2010