Financial news on August 11th, 2006

Business and Financial news
2 Editors Resign at Web Site Linked to Journalism Review

The managing editor of, an online adjunct of The Columbia Journalism Review, and his deputy quit after they were told the site’s budget would be cut in half. Read more..

By KATHARINE Q. SEELYE - The New York Times

A Wall Street Rush to Patent Profit-Making Methods

An intellectual property arms race is escalating on Wall Street where firms are building up stockpiles of patents for all sorts of financial dealings. Read more..

By JULIE CRESWELL - The New York Times

BetOnSports, After Indictment, Folds Its Hand and Shifts Focus to Asia

BetOnSports told 800 employees in Costa Rica and Antigua, where the virtual casino has its operations, that they would be losing their jobs. Read more..

By MATT RICHTEL - The New York Times

Hedge Fund Manager Who Plays His Cards Right

After entering the World Series of Poker on a whim, David Einhorn won more than $650,000 and gave all his winnings to charity. Read more..

By JENNY ANDERSON - The New York Times

I.B.M. to Buy Content Software Maker for $1.6 Billion

The acquisition of FileNet is a move by I.B.M. to strengthen its position in the market for content management software. Read more..

By STEVE LOHR - The New York Times

Stock Markets

Values are reported in US Dollars

StockTicker symbolOpenHighLowCloseVolume
Cisco SystemsCSCO19,6019,7319,3719,5442.2M
Bristol-Myers SquibbBMY20,8320,8520,0820,2438.3M
Oracle Corp.ORCL15,1015,1614,8914,9919.3M
General ElectricGE32,6232,7832,4232,5015.3M
Home DepotHD33,3033,7333,0733,2711.9M
AT&T Inc.T30,0030,5230,0030,229.04M
HP Inc.HPQ32,9033,0832,6833,058.83M
Wal-Mart StoresWMT44,9044,9444,3044,698.24M
Procter & GamblePG59,9960,4559,7960,268.09M
Verizon CommunicationsVZ33,8534,0733,7534,078.08M
Johnson & JohnsonJNJ63,5663,7963,4063,477.51M
Walt Disney & Co.DIS29,6229,6829,2229,436.92M
JPMorgan ChaseJPM44,0544,1543,5043,936.87M
Abbott LaboratoriesABT47,0747,6947,0447,415.2M
UnitedHealth GroupUNH47,3047,7446,9847,573.74M
International Business MachinesIBM75,2075,7875,2075,483.7M
Wells Fargo & Co.WFC69,5069,6868,9569,593.02M
Gilead SciencesGILD61,7062,3461,5562,052.37M
United TechnologiesUTX60,0160,4659,5660,151.99M
Union PacificUNP79,9280,5079,0279,211.02M
Berkshire HathawayBRK.B3095,003102,503091,003102,009.1K
Exchange Rates of August 11th, 2006
CurrenciesExchange Rates
US DollarJapanese Yen1 USD = 116,300 JPY1 JPY = 0,009 USD
US DollarCanadian Dollar1 USD = 1,125 CAD1 CAD = 0,889 USD
US DollarSwiss Franc1 USD = 1,243 CHF1 CHF = 0,805 USD
US DollarChinese Yuan1 USD = 7,976 CNY1 CNY = 0,125 USD
EuroJapanese Yen1 EUR = 147,950 JPY1 JPY = 0,007 EUR
EuroPound Sterling1 EUR = 0,673 GBP1 GBP = 1,486 EUR
EuroAustralian Dollar1 EUR = 1,660 AUD1 AUD = 0,603 EUR
EuroCanadian Dollar1 EUR = 1,430 CAD1 CAD = 0,699 EUR
EuroSwiss Franc1 EUR = 1,581 CHF1 CHF = 0,632 EUR
Japanese YenPound Sterling1 JPY = 0,455 GBP1 GBP = 2,199 JPY
Japanese YenAustralian Dollar1 JPY = 1,121 AUD1 AUD = 0,892 JPY
Japanese YenCanadian Dollar1 JPY = 0,967 CAD1 CAD = 1,035 JPY
Japanese YenSwiss Franc1 JPY = 1,069 CHF1 CHF = 0,936 JPY
Pound SterlingAustralian Dollar1 GBP = 2,466 AUD1 AUD = 0,405 GBP
Pound SterlingCanadian Dollar1 GBP = 2,126 CAD1 CAD = 0,470 GBP
Pound SterlingSwiss Franc1 GBP = 2,349 CHF1 CHF = 0,426 GBP
Australian DollarCanadian Dollar1 AUD = 0,861 CAD1 CAD = 1,161 AUD
Australian DollarSwiss Franc1 AUD = 0,952 CHF1 CHF = 1,050 AUD
Canadian DollarSwiss Franc1 CAD = 1,105 CHF1 CHF = 0,905 CAD

See what else happened on August 11th, 2006