Financial news on May 11, 2007

Business and Financial news
$45 Million Invested in Internet TV Venture

Joost, a start-up that delivers television programming over the Internet, said that it had received $45 million in financing. Read more..

By MATT RICHTEL - The New York Times

6 Former Workers at a Day Trading Firm Are Acquitted

A federal jury in Brooklyn acquitted two former stockbrokers and four former employees of securities fraud charges in what became known as the “squawk box” case. Read more..

By JENNY ANDERSON - The New York Times

ABN Amro Executive Resigns

LONDON, May 10 — ABN Amro, the Dutch bank that is the target of one of the world’s largest takeover battles, said Thursday that Hugh Y. Scott-Barrett, its chief financial officer, had handed in his resignation, amid other departures from the bank. Read more..

By JULIA WERDIGIER - The New York Times

A Nuclear Reactor Reborn

The Tennessee Valley Authority plans to reopen its Browns Ferry 1 nuclear reactor this month, 22 years after it was shut for safety reasons. Read more..

By MATTHEW L. WALD - The New York Times

At Vonage, Sales Increase as Litigation Clouds Future

Vonage said that its quarterly loss narrowed and sales rose 64 percent amid a fierce legal battle with Verizon Communications that has left its future in question. Read more..

By LAURIE J. FLYNN - The New York Times

Bush and Democrats in Accord on Trade Deals

The agreement clears the way for early passage of some pending trade accords and improves prospects for others. Read more..

By STEVEN R. WEISMAN - The New York Times

Facebook to Offer Free Classifieds

The social networking Web site will offer ads to compete with Craigslist, MySpace and newspapers. Read more..

By BRAD STONE - The New York Times

JetBlue’s Founder Is Stepping Aside as Chief

After a difficult stretch for the airline, David Neeleman will give way to David Barger, the No. 2 executive. Read more..

By JEFF BAILEY - The New York Times

Out of Chaos, Order. Or So Google Says.

A strategy announcement by Google is less a shift than a new message — a way for the company to talk about its initiatives in a way shareholders can readily understand. Read more..

By MIGUEL HELFT - The New York Times

Panel to Look at Conflicts in Consulting

Congress is looking into potential conflicts among executive compensation consulting firms that do lucrative work for companies whose pay they help devise. Read more..


Stock Markets

Values are reported in US Dollars

StockTicker symbolOpenHighLowCloseVolume
Cisco SystemsCSCO26.4426.6526.3526.6339.1M
Oracle Corp.ORCL18.6019.0418.5218.9830.9M
Johnson & JohnsonJNJ62.3063.0361.6562.2723.9M
General ElectricGE36.8037.0436.8036.9720.7M
AT&T Inc.T39.0639.7039.0639.5917.1M
Wal-Mart StoresWMT47.8447.9147.4147.7815.9M
Wells Fargo & Co.WFC35.5235.8035.4235.5213.5M
JPMorgan ChaseJPM52.1252.3851.7252.1512.4M
Verizon CommunicationsVZ40.8341.3540.8141.3512.3M
Home DepotHD39.0039.1738.6138.8612M
HP Inc.HPQ44.5545.2844.5045.2410.1M
Abbott LaboratoriesABT57.3557.8657.0857.848.66M
Procter & GamblePG61.6761.8561.4261.658.48M
Walt Disney & Co.DIS35.7436.1735.7336.077.58M
UnitedHealth GroupUNH53.0353.8052.8653.597.44M
Bristol-Myers SquibbBMY29.8130.2529.5730.247.11M
International Business MachinesIBM104.69105.99104.67105.986.03M
Gilead SciencesGILD81.1082.7481.0882.143.86M
United TechnologiesUTX68.0968.5068.0768.392.45M
Union PacificUNP116.70117.23116.51116.902.4M
Berkshire HathawayBRK.B3636.003674.003635.503668.009.9K
Exchange Rates of May 11, 2007
CurrenciesExchange Rates
US DollarJapanese Yen1 USD = 120.180 JPY1 JPY = 0.008 USD
US DollarCanadian Dollar1 USD = 1.111 CAD1 CAD = 0.900 USD
US DollarSwiss Franc1 USD = 1.219 CHF1 CHF = 0.820 USD
US DollarChinese Yuan1 USD = 7.677 CNY1 CNY = 0.130 USD
EuroJapanese Yen1 EUR = 162.530 JPY1 JPY = 0.006 EUR
EuroPound Sterling1 EUR = 0.682 GBP1 GBP = 1.465 EUR
EuroAustralian Dollar1 EUR = 1.626 AUD1 AUD = 0.615 EUR
EuroCanadian Dollar1 EUR = 1.502 CAD1 CAD = 0.666 EUR
EuroSwiss Franc1 EUR = 1.648 CHF1 CHF = 0.607 EUR
Japanese YenPound Sterling1 JPY = 0.420 GBP1 GBP = 2.383 JPY
Japanese YenAustralian Dollar1 JPY = 1.000 AUD1 AUD = 1.000 JPY
Japanese YenCanadian Dollar1 JPY = 0.924 CAD1 CAD = 1.083 JPY
Japanese YenSwiss Franc1 JPY = 1.014 CHF1 CHF = 0.986 JPY
Pound SterlingAustralian Dollar1 GBP = 2.383 AUD1 AUD = 0.420 GBP
Pound SterlingCanadian Dollar1 GBP = 2.200 CAD1 CAD = 0.455 GBP
Pound SterlingSwiss Franc1 GBP = 2.415 CHF1 CHF = 0.414 GBP
Australian DollarCanadian Dollar1 AUD = 0.923 CAD1 CAD = 1.084 AUD
Australian DollarSwiss Franc1 AUD = 1.013 CHF1 CHF = 0.987 AUD
Canadian DollarSwiss Franc1 CAD = 1.097 CHF1 CHF = 0.911 CAD

See what else happened on May 11, 2007