Financial news on October 11th, 2006

Business and Financial news
Airbus Chief Says Layoffs Lie Ahead for Managers

The new chief of Airbus warned Tuesday that job cuts would be unavoidable as the company worked to streamline management and increase productivity. Read more..

By NICOLA CLARK<br />International Herald Tribune - The New York Times

CNET C.E.O. Steps Down Following Stock Options Probe

Shelby Bonnie resigned following a review of the company's stock-options practices. Read more..

By ASSOCIATED PRESS - The New York Times

Ex-Cendant Chief’s 3rd Trial Starts in Securities Fraud Case

By Bloomberg News. Read more..

By BLOOMBERG NEWS - The New York Times

Icahn Looms as ImClone’s Chairman Resigns

The resignations of the chairman and another director move the billionaire investor Carl C. Icahn closer to his goal of gaining control of ImClone’s board. Read more..

By ANDREW POLLACK - The New York Times

New Venture for Ex-Star of GLG Fund

A former star manager with GLG Partners, one of Europe’s biggest hedge funds, is setting up a new hedge fund of about $2 billion in Geneva. Read more..

By HEATHER TIMMONS - The New York Times

Raymond Noorda, 82, Novell Founder, Dies

Raymond J. Noorda was a co-founder of Novell Inc., a software company that helped pioneer computer networking. Read more..

By BARRY MEIER - The New York Times

Reader Responses

The following are excerpts of reader feedback to the Oct. 11 Economix column on charitable giving and, in some cases, David Leonhardt’s replies to readers. Read more..

By DAVID LEONHARDT - The New York Times

Religion-Based Tax Breaks: Housing to Paychecks to Books

Churches and ordained clergy of all faiths get a series of tax exemptions that secular organizations and workers do not. Read more..

By DIANA B. HENRIQUES - The New York Times

Soon a Home to Flying Pucks and Balls

Next month, the sound of athletics is expected in a $38 million sports entertainment complex built on a corner of Floyd Bennett Field in Brooklyn. Read more..

By JANE GORDON - The New York Times

World Business Briefing: Europe and Americas

EUROPE. Read more..

By BLOOMBERG NEWS - The New York Times

Stock Markets

Values are reported in US Dollars

StockTicker symbolOpenHighLowCloseVolume
AT&T Inc.T32.7733.1632.6632.9647.3M
Cisco SystemsCSCO24.2124.5524.1724.4040.3M
Oracle Corp.ORCL18.6818.7918.4818.5837.7M
General ElectricGE36.2036.4036.0336.1719.5M
HP Inc.HPQ37.9338.3337.7837.8716.4M
Verizon CommunicationsVZ36.6236.9536.5436.6014.2M
Abbott LaboratoriesABT46.2546.7746.0546.4712.7M
Home DepotHD37.5638.2037.5637.9211.5M
JPMorgan ChaseJPM47.3047.7047.1747.6410.3M
Wal-Mart StoresWMT48.0348.4547.8748.3110M
International Business MachinesIBM84.1584.6983.7984.195.21M
Johnson & JohnsonJNJ64.8965.2064.8065.104.86M
Procter & GamblePG62.2862.6762.1262.484.83M
UnitedHealth GroupUNH49.6250.3749.3050.104.65M
Wells Fargo & Co.WFC36.2836.3836.0236.224.63M
Walt Disney & Co.DIS31.2031.4031.1531.314.52M
Bristol-Myers SquibbBMY24.5024.6024.2524.304.32M
Gilead SciencesGILD64.5865.4464.1065.313.45M
United TechnologiesUTX65.3065.6464.7365.522.5M
Union PacificUNP90.1090.1689.3590.00882K
Berkshire HathawayBRK.B3313.003314.003292.003304.008.4K
Exchange Rates of October 11th, 2006
CurrenciesExchange Rates
US DollarJapanese Yen1 USD = 119.660 JPY1 JPY = 0.008 USD
US DollarCanadian Dollar1 USD = 1.138 CAD1 CAD = 0.879 USD
US DollarSwiss Franc1 USD = 1.272 CHF1 CHF = 0.786 USD
US DollarChinese Yuan1 USD = 7.916 CNY1 CNY = 0.126 USD
EuroJapanese Yen1 EUR = 149.840 JPY1 JPY = 0.007 EUR
EuroPound Sterling1 EUR = 0.675 GBP1 GBP = 1.481 EUR
EuroAustralian Dollar1 EUR = 1.686 AUD1 AUD = 0.593 EUR
EuroCanadian Dollar1 EUR = 1.424 CAD1 CAD = 0.702 EUR
EuroSwiss Franc1 EUR = 1.593 CHF1 CHF = 0.628 EUR
Japanese YenPound Sterling1 JPY = 0.450 GBP1 GBP = 2.221 JPY
Japanese YenAustralian Dollar1 JPY = 1.124 AUD1 AUD = 0.889 JPY
Japanese YenCanadian Dollar1 JPY = 0.950 CAD1 CAD = 1.053 JPY
Japanese YenSwiss Franc1 JPY = 1.063 CHF1 CHF = 0.941 JPY
Pound SterlingAustralian Dollar1 GBP = 2.497 AUD1 AUD = 0.401 GBP
Pound SterlingCanadian Dollar1 GBP = 2.109 CAD1 CAD = 0.474 GBP
Pound SterlingSwiss Franc1 GBP = 2.358 CHF1 CHF = 0.424 GBP
Australian DollarCanadian Dollar1 AUD = 0.844 CAD1 CAD = 1.184 AUD
Australian DollarSwiss Franc1 AUD = 0.944 CHF1 CHF = 1.059 AUD
Canadian DollarSwiss Franc1 CAD = 1.118 CHF1 CHF = 0.895 CAD

See what else happened on October 11th, 2006