Financial news on April 12th, 2007

Business and Financial news
A Compact Cellphone With a Full Bag of Tricks

As with a clown-filled Volkswagen Beetle, the outside of the diminutive N95 cellphone from Nokia belies what’s inside. Read more..

By JOHN BIGGS - The New York Times

A Music Device That Can Play, Oh, 2 Million Songs or So

SanDisk has joined with Yahoo to add a new wrinkle to its latest MP3 player, the Sansa Connect. Read more..

By STEPHEN C. MILLER - The New York Times

As Subprime Market Implodes, a Contrarian Prospers

As the markets rise and fall, the owner of United Capital Markets has been able to profit handsomely by taking advantage of the wide swings. Read more..

By VIKAS BAJAJ - The New York Times

Beyond Grades: Business Students Put Their Start-Up Ideas to the Test

For many students in start-up competitions, the No. 1 spot is not the ultimate prize. Having a successful business is. Read more..

By ANNE FIELD - The New York Times

Britain: Suitor Ends Sainsbury Offer

The buyout firm CVC Capital Partners scrapped a £10 billion ($19.7 billion) bid for J Sainsbury, the British grocery chain, after CVC was abandoned by its bidding partners and Sainsbury’s founding family held out for more money. The fam... Read more..

By BLOOMBERG NEWS - The New York Times

Genentech Profit Increases 68%

Genentech said that first-quarter profit rose 68 percent, driven by sales of its cancer drugs Avastin and Rituxan. Read more..

By BLOOMBERG NEWS - The New York Times

In the Real World of Work and Wages, Trickle-Down Theories Don’t Hold Up

The claim that higher taxes would cause top earners to work less and take fewer risks is supported neither by theory nor evidence. Read more..

By ROBERT H. FRANK - The New York Times

NBC News Drops Imus Show Over Racial Remark

The move came after several days of widening calls for Don Imus to lose his show both on MSNBC and CBS Radio. Read more..

By BILL CARTER and LOUISE STORY - The New York Times

Some Suspect Chemical Mix in Pet Food

U.S. regulators are investigating whether melamine, the chemical linked to recent pet deaths, was mixed into wheat gluten in China. Read more..

By DAVID BARBOZA - The New York Times

The Trouble With Home-Networking

The Times’s David Pogue illustrates why wireless home-networking remains one of life’s frustrations. Read more..

By DAVID POGUE - The New York Times

Stock Markets

Values are reported in US Dollars

StockTicker symbolOpenHighLowCloseVolume
General ElectricGE34.8735.2434.8635.1830.8M
Cisco SystemsCSCO25.7826.0725.6325.9728.1M
Oracle Corp.ORCL18.5718.7118.4418.7022.7M
AT&T Inc.T38.8338.9438.4838.6617M
Wells Fargo & Co.WFC34.0834.4334.0334.3413.1M
Wal-Mart StoresWMT47.3847.5046.9047.2611.6M
Home DepotHD37.8938.1937.6038.0211.4M
Abbott LaboratoriesABT56.8057.5456.7757.4110.2M
HP Inc.HPQ40.6241.2140.4441.1210.1M
JPMorgan ChaseJPM48.9949.5248.7349.209.47M
Johnson & JohnsonJNJ61.5561.9561.5061.929.34M
Walt Disney & Co.DIS34.6034.7334.4334.679.24M
Bristol-Myers SquibbBMY27.6727.6727.3527.558.25M
Procter & GamblePG63.0363.5962.9063.527.57M
Verizon CommunicationsVZ37.3937.4137.0037.377.49M
International Business MachinesIBM94.8695.8294.5395.677.09M
UnitedHealth GroupUNH52.9153.3652.7653.125.22M
Gilead SciencesGILD76.9679.3276.7078.994.94M
United TechnologiesUTX63.9364.8263.6564.744.13M
Union PacificUNP106.30112.10105.62111.023.7M
Berkshire HathawayBRK.B3635.003660.003635.003660.008.6K
Exchange Rates of April 12th, 2007
CurrenciesExchange Rates
US DollarJapanese Yen1 USD = 119.150 JPY1 JPY = 0.008 USD
US DollarCanadian Dollar1 USD = 1.135 CAD1 CAD = 0.881 USD
US DollarSwiss Franc1 USD = 1.217 CHF1 CHF = 0.822 USD
US DollarChinese Yuan1 USD = 7.726 CNY1 CNY = 0.129 USD
EuroJapanese Yen1 EUR = 160.640 JPY1 JPY = 0.006 EUR
EuroPound Sterling1 EUR = 0.681 GBP1 GBP = 1.468 EUR
EuroAustralian Dollar1 EUR = 1.626 AUD1 AUD = 0.615 EUR
EuroCanadian Dollar1 EUR = 1.529 CAD1 CAD = 0.654 EUR
EuroSwiss Franc1 EUR = 1.641 CHF1 CHF = 0.609 EUR
Japanese YenPound Sterling1 JPY = 0.424 GBP1 GBP = 2.360 JPY
Japanese YenAustralian Dollar1 JPY = 1.012 AUD1 AUD = 0.988 JPY
Japanese YenCanadian Dollar1 JPY = 0.952 CAD1 CAD = 1.051 JPY
Japanese YenSwiss Franc1 JPY = 1.021 CHF1 CHF = 0.979 JPY
Pound SterlingAustralian Dollar1 GBP = 2.388 AUD1 AUD = 0.419 GBP
Pound SterlingCanadian Dollar1 GBP = 2.246 CAD1 CAD = 0.445 GBP
Pound SterlingSwiss Franc1 GBP = 2.408 CHF1 CHF = 0.415 GBP
Australian DollarCanadian Dollar1 AUD = 0.940 CAD1 CAD = 1.064 AUD
Australian DollarSwiss Franc1 AUD = 1.008 CHF1 CHF = 0.992 AUD
Canadian DollarSwiss Franc1 CAD = 1.072 CHF1 CHF = 0.933 CAD

See what else happened on April 12th, 2007