Financial news on May 12th, 2010

Business and Financial news
A Trillion for Europe, With Doubts Attached

Some analysts challenged the wisdom of the rescue package’s main component, a promise of new loans to bail out European economies. Read more..

By LANDON THOMAS Jr. and JACK EWING - The New York Times

Corzine Starting Small in Bid for Redemption

After governing New Jersey and running Goldman Sachs, Jon S. Corzine is back on Wall Street building MF Global, a much smaller brokerage firm. Read more..

By DEALBOOK - The New York Times

Dean Baker on Bernanke's Renomination

Economist Dean Baker on the renomination of Federal Reserve Chairman Ben S. Bernanke. Read more..

Ben Werschkul - The New York Times

Dean Baker on TARP

Economist Dean Baker on the Fed's actions to support the Troubled Asset Relief Program. Read more..

Ben Werschkul - The New York Times

Despite Recalls, Toyota Reports $1.2 Billion Profit

Toyota had a particularly strong performance in the three months through March, despite recalls of models with safety problems. Read more..

By HIROKO TABUCHI - The New York Times

In Greek Crisis, Some See Parallels to U.S. Debt

The United States will probably not face the same kind of crisis as Greece, for all sorts of reasons. But the basic problem is the same. Both countries have a bigger government than they’re paying for. Read more..

By DEALBOOK - The New York Times

In Turbulent Times, Newspaper Conference Founders

The conference in Beirut would have focused on new business models to help newspapers manage the difficult transition to digital publishing. Read more..

By ERIC PFANNER - International Herald Tribune

Morgan Shares Fall After Report of New Inquiry

Shares in Morgan Stanley tumbled after The Wall Street Journal reported that federal prosecutors are looking into several mortgage-based investments the firm created. Read more..

By DEALBOOK - The New York Times

Obama Aide Sees Higher Taxes for Carried Interest

Peter R. Orszag, the White House budget director, said that he expected Congress to change the tax treatment of “carried interest” income at investment firms and that the impact of higher tax bills would not be as dire as some have suggested. Read more..

By CYRUS SANATI - The New York Times

Terra Firma Is Expected to Avoid a Debt Default

The music company EMI has been struggling under the weight of large debt payments and shrinking sales of CDs. Read more..

By JOSEPH PLAMBECK and MICHAEL J. de la MERCED - The New York Times

Stock Markets

Values are reported in US Dollars

StockTicker symbolOpenHighLowCloseVolume
General ElectricGE18,0918,5018,0718,4467.9M
Cisco SystemsCSCO26,2226,8026,1926,7466.2M
JPMorgan ChaseJPM41,7441,7940,8141,6947.7M
Wells Fargo & Co.WFC33,1833,8133,0633,6639.6M
AT&T Inc.T25,7325,8925,5625,8229.3M
Oracle Corp.ORCL24,2124,7024,1924,6027.1M
Walt Disney & Co.DIS34,9836,2134,8235,1325.5M
Verizon CommunicationsVZ28,5528,7828,4528,7020.7M
Home DepotHD35,6735,9435,3835,8919.1M
Abbott LaboratoriesABT49,5749,5948,8949,1518.4M
HP Inc.HPQ48,6949,8648,6249,5617.7M
International Business MachinesIBM127,16132,85127,01132,6816.6M
Gilead SciencesGILD39,5940,2239,3540,1513.7M
Wal-Mart StoresWMT52,5052,5652,1352,4813.6M
UnitedHealth GroupUNH29,8530,3829,7930,3211.3M
Johnson & JohnsonJNJ64,8565,0564,4964,9011M
Procter & GamblePG62,1163,1362,1063,0211M
Bristol-Myers SquibbBMY24,4624,5024,1924,4410.1M
United TechnologiesUTX73,0573,4372,5873,155.07M
Berkshire HathawayBRK.B77,6978,5577,2178,003.61M
Union PacificUNP75,3277,0374,9676,723.31M
Exchange Rates of May 12th, 2010
CurrenciesExchange Rates
US DollarJapanese Yen1 USD = 93,250 JPY1 JPY = 0,011 USD
US DollarCanadian Dollar1 USD = 1,019 CAD1 CAD = 0,981 USD
US DollarSwiss Franc1 USD = 1,111 CHF1 CHF = 0,900 USD
US DollarChinese Yuan1 USD = 6,828 CNY1 CNY = 0,146 USD
EuroJapanese Yen1 EUR = 117,780 JPY1 JPY = 0,008 EUR
EuroPound Sterling1 EUR = 0,852 GBP1 GBP = 1,174 EUR
EuroAustralian Dollar1 EUR = 1,411 AUD1 AUD = 0,709 EUR
EuroCanadian Dollar1 EUR = 1,287 CAD1 CAD = 0,777 EUR
EuroSwiss Franc1 EUR = 1,402 CHF1 CHF = 0,713 EUR
EuroChinese Yuan1 EUR = 8,620 CNY1 CNY = 0,116 EUR
Japanese YenPound Sterling1 JPY = 0,723 GBP1 GBP = 1,383 JPY
Japanese YenAustralian Dollar1 JPY = 1,198 AUD1 AUD = 0,835 JPY
Japanese YenCanadian Dollar1 JPY = 1,092 CAD1 CAD = 0,915 JPY
Japanese YenSwiss Franc1 JPY = 1,191 CHF1 CHF = 0,840 JPY
Pound SterlingAustralian Dollar1 GBP = 1,656 AUD1 AUD = 0,604 GBP
Pound SterlingCanadian Dollar1 GBP = 1,511 CAD1 CAD = 0,662 GBP
Pound SterlingSwiss Franc1 GBP = 1,647 CHF1 CHF = 0,607 GBP
Pound SterlingChinese Yuan1 GBP = 10,113 CNY1 CNY = 0,099 GBP
Australian DollarCanadian Dollar1 AUD = 0,912 CAD1 CAD = 1,096 AUD
Australian DollarSwiss Franc1 AUD = 0,993 CHF1 CHF = 1,007 AUD
Australian DollarChinese Yuan1 AUD = 6,105 CNY1 CNY = 0,164 AUD
Canadian DollarSwiss Franc1 CAD = 1,090 CHF1 CHF = 0,918 CAD
Canadian DollarChinese Yuan1 CAD = 6,700 CNY1 CNY = 0,149 CAD
Swiss FrancChinese Yuan1 CHF = 6,147 CNY1 CNY = 0,163 CHF

See what else happened on May 12th, 2010