Financial news on May 11, 2010

Business and Financial news
ABN Amro Admits Wrong, and Will Pay $500 Million

The bank, now part of the Royal Bank of Scotland, admitted that it altered payment documents from 1995 through 2005. Read more..

By BLOOMBERG NEWS - The New York Times

Editorial: Senate Has to Do Better

Banks ahead, American taxpayers lagging behind: That’s the disappointing reality after the first week of Senate action on the financial reform bill, The New York Times’s editorial board writes. Read more..

By DEALBOOK - The New York Times

Europe’s Debt Crisis: Your Questions Answered

Economix invited questions about the Greek debt crisis and its potential effects on markets and governments in the rest of Europe and beyond. Simon Johnson, Carmen M. Reinhardt and Yves Smith have written their responses. Read more..

By DEALBOOK - The New York Times

Fidelity Reshuffle Boosts Abigail Johnson

Fidelity Investments, the giant mutual fund firm, has shuffled top management, expanding the duties of Abigail Johnson, daughter of its chief, and hiring a top Bank of New York Mellon executive to run its asset-management business, Reuters reported. Read more..

By DEALBOOK - The New York Times

Investor Group to Acquire Canadian Newspapers

The chief executive of the National Post leads a group buying Canwest Global Communications. Read more..

By IAN AUSTEN - The New York Times

Lagarde: What If It Had Been Lehman Sisters?

When women are called to action in times of turbulence, it is often on account of their composure, sense of responsibility and great pragmatism in delicate situations, Christine Lagarde, the French finance minister, writes in a commentary for The International Herald Tribune. Read more..

By DEALBOOK - The New York Times

Lawsuit Against Cuban Calls Mavericks ‘Insolvent’

Ross Perot Jr. claims in a lawsuit that Mark Cuban’s management of the Dallas Mavericks has diminished his investment in the team. Read more..

By DEALBOOK - The New York Times

Stocks Rally in Europe and Asia

Global stocks rose and the euro jumped Monday after European leaders and major central banks announced a powerful array of emergency lending measures. Read more..

By DAVID JOLLY and BETTINA WASSENER - International Herald Tribune

Stocks Soar After Europe Announces Rescue Plan

Markets rebound after European leaders and major central banks announced an array of emergency lending measures. Read more..

By CHRISTINE HAUSER - The New York Times

Union Plans More Strikes Against British Airways

The union, Unite, voted for another 20 days of strikes to protest the carrier’s cost-cutting plans. Read more..

By NICOLA CLARK - The New York Times

Stock Markets

Values are reported in US Dollars

StockTicker symbolOpenHighLowCloseVolume
General ElectricGE17.8518.3417.8218.0083.5M
Cisco SystemsCSCO26.0626.7725.8225.9653.7M
JPMorgan ChaseJPM41.4642.5541.1541.5550.8M
Wells Fargo & Co.WFC32.5133.6732.4232.9147.9M
AT&T Inc.T25.5025.8125.3425.6432.4M
Oracle Corp.ORCL24.2524.6124.1124.1929.5M
Home DepotHD35.1335.9635.0735.6326.6M
Verizon CommunicationsVZ28.4628.6528.2528.4024.8M
Walt Disney & Co.DIS35.5236.2535.1435.7619.9M
Wal-Mart StoresWMT52.3552.7752.1752.4619.6M
Abbott LaboratoriesABT49.3849.7349.2449.4017.9M
HP Inc.HPQ48.5849.4748.2248.4217.3M
Bristol-Myers SquibbBMY24.0324.7124.0224.3715.5M
Gilead SciencesGILD38.9340.2638.7339.2615.4M
Procter & GamblePG62.0462.9761.9862.3712.4M
Johnson & JohnsonJNJ64.2365.0964.1864.6710.9M
UnitedHealth GroupUNH29.8130.0829.5529.859.61M
International Business MachinesIBM125.21128.42125.15126.896.5M
United TechnologiesUTX72.3474.2572.3372.705.97M
Berkshire HathawayBRK.B77.4378.8076.8677.614.92M
Union PacificUNP74.0275.7374.0274.793.84M
Exchange Rates of May 11, 2010
CurrenciesExchange Rates
US DollarJapanese Yen1 USD = 92.670 JPY1 JPY = 0.011 USD
US DollarCanadian Dollar1 USD = 1.020 CAD1 CAD = 0.980 USD
US DollarSwiss Franc1 USD = 1.112 CHF1 CHF = 0.899 USD
US DollarChinese Yuan1 USD = 6.829 CNY1 CNY = 0.146 USD
EuroJapanese Yen1 EUR = 117.050 JPY1 JPY = 0.009 EUR
EuroPound Sterling1 EUR = 0.846 GBP1 GBP = 1.182 EUR
EuroAustralian Dollar1 EUR = 1.412 AUD1 AUD = 0.708 EUR
EuroCanadian Dollar1 EUR = 1.289 CAD1 CAD = 0.776 EUR
EuroSwiss Franc1 EUR = 1.405 CHF1 CHF = 0.712 EUR
EuroChinese Yuan1 EUR = 8.634 CNY1 CNY = 0.116 EUR
Japanese YenPound Sterling1 JPY = 0.723 GBP1 GBP = 1.384 JPY
Japanese YenAustralian Dollar1 JPY = 1.206 AUD1 AUD = 0.830 JPY
Japanese YenCanadian Dollar1 JPY = 1.100 CAD1 CAD = 0.909 JPY
Japanese YenSwiss Franc1 JPY = 1.200 CHF1 CHF = 0.833 JPY
Pound SterlingAustralian Dollar1 GBP = 1.668 AUD1 AUD = 0.600 GBP
Pound SterlingCanadian Dollar1 GBP = 1.523 CAD1 CAD = 0.657 GBP
Pound SterlingSwiss Franc1 GBP = 1.660 CHF1 CHF = 0.602 GBP
Pound SterlingChinese Yuan1 GBP = 10.186 CNY1 CNY = 0.098 GBP
Australian DollarCanadian Dollar1 AUD = 0.913 CAD1 CAD = 1.096 AUD
Australian DollarSwiss Franc1 AUD = 0.995 CHF1 CHF = 1.005 AUD
Australian DollarChinese Yuan1 AUD = 6.113 CNY1 CNY = 0.164 AUD
Canadian DollarSwiss Franc1 CAD = 1.090 CHF1 CHF = 0.917 CAD
Canadian DollarChinese Yuan1 CAD = 6.697 CNY1 CNY = 0.149 CAD
Swiss FrancChinese Yuan1 CHF = 6.142 CNY1 CNY = 0.163 CHF

See what else happened on May 11, 2010