Financial news on October 10th, 2007

Business and Financial news
Co-Founder of Skype Defends Its Value

Niklas Zennstrom, Skype’s former chief executive, said he didn’t regret his handling of the company, whose parent, eBay, said it would take a $1.4 billion charge for the unit. Read more..

By VICTORIA SHANNON - The New York Times

Merger for SABMiller and Molson Coors

The joint venture, to be known as MillerCoors, will become a more formidable No. 2 challenger to Anheuser-Busch, which has long dominated the American market. Read more..

By ANDREW MARTIN - The New York Times

Sharp Rise in Winter Heating Bills Is Forecast

Consumers should expect little respite from the high cost of energy this winter as the price of heating oil, propane, natural gas and electricity are all forecast to rise. Read more..

By JAD MOUAWAD - The New York Times

Takeover Deals Suggest Buyout Market Remains Active

Despite dire warnings by some analysts that merger activity would cool after this summer’s turmoil in the credit markets, the buyout market is still alive. Read more..

By JULIA WERDIGIER - The New York Times

The Future of Journalism Is Stuck in the Lincoln Tunnel

One person who isn’t on the program for Wednesday’s Network Journalism Summit but should be is Joshua Crandall, the founder of Clever Commute, a service through which bus and train riders alert each other to delays. Read more..

By SAUL HANSELL - The New York Times

Stock Markets

Values are reported in US Dollars

StockTicker symbolOpenHighLowCloseVolume
Cisco SystemsCSCO33.3933.5033.1533.2736.9M
Oracle Corp.ORCL22.5922.9522.5322.9232.2M
General ElectricGE41.9242.0841.7041.8119.2M
JPMorgan ChaseJPM47.4747.4746.5546.9118.9M
Home DepotHD33.6934.0033.4033.6516.5M
AT&T Inc.T41.9442.1941.7041.7516.3M
Wal-Mart StoresWMT45.1045.7445.1045.5915.8M
Abbott LaboratoriesABT55.1555.4253.9154.2414.8M
Wells Fargo & Co.WFC37.1137.1136.2836.6214M
UnitedHealth GroupUNH48.4849.6848.4449.3313.2M
Verizon CommunicationsVZ45.4345.8245.3545.6310.1M
HP Inc.HPQ52.3752.7252.0052.259.07M
Johnson & JohnsonJNJ66.2766.3065.6765.838.52M
Procter & GamblePG71.1571.7571.1371.407.72M
Gilead SciencesGILD42.1043.0741.7442.986.82M
Bristol-Myers SquibbBMY29.9330.0329.5229.636.43M
International Business MachinesIBM118.00118.80117.68118.625.91M
Walt Disney & Co.DIS35.4535.5535.0635.284.72M
United TechnologiesUTX81.3281.5079.3980.503.48M
Union PacificUNP117.92118.59116.63117.681.07M
Berkshire HathawayBRK.B4086.004160.004084.004160.0022.3K
Exchange Rates of October 10th, 2007
CurrenciesExchange Rates
US DollarJapanese Yen1 USD = 117.190 JPY1 JPY = 0.009 USD
US DollarCanadian Dollar1 USD = 0.982 CAD1 CAD = 1.019 USD
US DollarSwiss Franc1 USD = 1.183 CHF1 CHF = 0.846 USD
US DollarChinese Yuan1 USD = 7.512 CNY1 CNY = 0.133 USD
EuroJapanese Yen1 EUR = 165.730 JPY1 JPY = 0.006 EUR
EuroPound Sterling1 EUR = 0.692 GBP1 GBP = 1.444 EUR
EuroAustralian Dollar1 EUR = 1.576 AUD1 AUD = 0.635 EUR
EuroCanadian Dollar1 EUR = 1.388 CAD1 CAD = 0.720 EUR
EuroSwiss Franc1 EUR = 1.673 CHF1 CHF = 0.598 EUR
Japanese YenPound Sterling1 JPY = 0.418 GBP1 GBP = 2.395 JPY
Japanese YenAustralian Dollar1 JPY = 0.951 AUD1 AUD = 1.052 JPY
Japanese YenCanadian Dollar1 JPY = 0.837 CAD1 CAD = 1.194 JPY
Japanese YenSwiss Franc1 JPY = 1.009 CHF1 CHF = 0.991 JPY
Pound SterlingAustralian Dollar1 GBP = 2.276 AUD1 AUD = 0.439 GBP
Pound SterlingCanadian Dollar1 GBP = 2.005 CAD1 CAD = 0.499 GBP
Pound SterlingSwiss Franc1 GBP = 2.415 CHF1 CHF = 0.414 GBP
Australian DollarCanadian Dollar1 AUD = 0.880 CAD1 CAD = 1.136 AUD
Australian DollarSwiss Franc1 AUD = 1.061 CHF1 CHF = 0.943 AUD
Canadian DollarSwiss Franc1 CAD = 1.204 CHF1 CHF = 0.830 CAD

See what else happened on October 10th, 2007