Financial news on October 12th, 2010

Business and Financial news
Analysis: A Foreclosure Tightrope for Democrats

The swelling outcry over fast-and-loose foreclosures has thrust the Obama administration back into the uncomfortable position of sheltering the banking industry from the demands of an angry public. Read more..

By DEALBOOK - The New York Times

Citi Cuts Foreclosure Work With Investigated Firm

Citigroup said it stopped steering foreclosure work to a Florida law firm whose court filings to support home seizures are under investigation by the state’s attorney general, Bloomberg News reported. Read more..

By DEALBOOK - The New York Times

Dodd Backs Warren for Consumer Bureau, but…

Senator Christopher J. Dodd expects the White House to nominate a director for the new Consumer Finance Protection Bureau in the coming days, but he doubted the nominee would be confirmed before next year. Read more..

By CYRUS SANATI - The New York Times

Fed Official Concedes Risk of Low Rates, but Signals No Shift

Janet L. Yellen acknowledged risk but did not say that it should deter the Fed from resuming purchases of government debt to prop up the flagging recovery. Read more..

By SEWELL CHAN - The New York Times

More Retail Buyout Chatter: Is OfficeMax Next?

Shares of OfficeMax climbed as much as 10 percent on Tuesday after analysts at JPMorgan Chase suggested that the office supply chain could be a good target for a buyout. Read more..

By THOMAS KAPLAN - The New York Times

Ohio Attorney General Fights Against Wall Street

Richard Cordray is giving full throat to popular outrage by suing firms involved in the financial crisis. Read more..

By MICHAEL POWELL - The New York Times

Rival Bidders Join to Buy Sea Island for $212 Million

Competing bidders negotiated a deal to jointly buy the Sea Island Company for $212.4 million at an auction intended to settle the Georgia luxury resort operator’s bankruptcy case. Read more..

By DEALBOOK - The New York Times

Varvatos Said to Seek Buyers

The hip menswear label is in talks with potential buyers about taking over the company and helping pay off its debt, The New York Post reported Tuesday. Read more..

By DEALBOOK - The New York Times

What Entrepreneurs Want

What do entrepreneurs want? Just enough money, delivered right when the business needs it, according to a survey commissioned by the Palo Alto office of international law firm Dorsey & Whitney. Read more..

By DEALBOOK - The New York Times

Who’s the Unnamed and Frustrated Wall St. Chief?

A Dealbreaker blind item about an unnamed Wall Street chief has people guessing: Which bank head thinks the Treasury secretary is “helpless?” Read more..

By DEALBOOK - The New York Times

Stock Markets

Values are reported in US Dollars

StockTicker symbolOpenHighLowCloseVolume
General ElectricGE16.9717.3016.9417.1964.8M
JPMorgan ChaseJPM39.4740.4939.4740.4038.8M
Wells Fargo & Co.WFC25.4426.0425.3025.9837.3M
Cisco SystemsCSCO22.3822.7522.2722.6235.3M
Abbott LaboratoriesABT52.8053.6252.7153.5135M
Oracle Corp.ORCL27.7528.0027.4127.9527.6M
Procter & GamblePG62.0162.1861.5662.0225M
AT&T Inc.T28.2728.5028.1328.3924.3M
Verizon CommunicationsVZ32.4532.6432.2032.5423.9M
Wal-Mart StoresWMT54.4554.4553.7553.9215M
HP Inc.HPQ41.1841.5540.8941.3515M
Home DepotHD31.7431.7831.2531.4112.5M
Walt Disney & Co.DIS34.3634.6133.9634.489.08M
Johnson & JohnsonJNJ63.1363.4462.9763.298.71M
Bristol-Myers SquibbBMY27.2827.4827.1027.237.96M
Gilead SciencesGILD35.9636.2935.7136.117.78M
UnitedHealth GroupUNH34.5235.0634.4435.026.77M
International Business MachinesIBM138.40139.99138.27139.855.64M
Union PacificUNP84.4884.4882.7683.463.95M
United TechnologiesUTX72.6073.2771.8072.983.94M
Berkshire HathawayBRK.B82.6483.3582.3083.303.5M
Exchange Rates of October 12th, 2010
CurrenciesExchange Rates
US DollarJapanese Yen1 USD = 81.820 JPY1 JPY = 0.012 USD
US DollarCanadian Dollar1 USD = 1.010 CAD1 CAD = 0.990 USD
US DollarSwiss Franc1 USD = 0.957 CHF1 CHF = 1.045 USD
US DollarChinese Yuan1 USD = 6.674 CNY1 CNY = 0.150 USD
EuroJapanese Yen1 EUR = 113.860 JPY1 JPY = 0.009 EUR
EuroPound Sterling1 EUR = 0.880 GBP1 GBP = 1.136 EUR
EuroAustralian Dollar1 EUR = 1.411 AUD1 AUD = 0.709 EUR
EuroCanadian Dollar1 EUR = 1.406 CAD1 CAD = 0.711 EUR
EuroSwiss Franc1 EUR = 1.332 CHF1 CHF = 0.751 EUR
EuroChinese Yuan1 EUR = 9.287 CNY1 CNY = 0.108 EUR
Japanese YenPound Sterling1 JPY = 0.773 GBP1 GBP = 1.294 JPY
Japanese YenAustralian Dollar1 JPY = 1.239 AUD1 AUD = 0.807 JPY
Japanese YenCanadian Dollar1 JPY = 1.234 CAD1 CAD = 0.810 JPY
Japanese YenSwiss Franc1 JPY = 1.170 CHF1 CHF = 0.855 JPY
Pound SterlingAustralian Dollar1 GBP = 1.603 AUD1 AUD = 0.624 GBP
Pound SterlingCanadian Dollar1 GBP = 1.596 CAD1 CAD = 0.627 GBP
Pound SterlingSwiss Franc1 GBP = 1.513 CHF1 CHF = 0.661 GBP
Pound SterlingChinese Yuan1 GBP = 10.537 CNY1 CNY = 0.095 GBP
Australian DollarCanadian Dollar1 AUD = 0.996 CAD1 CAD = 1.004 AUD
Australian DollarSwiss Franc1 AUD = 0.944 CHF1 CHF = 1.060 AUD
Australian DollarChinese Yuan1 AUD = 6.582 CNY1 CNY = 0.152 AUD
Canadian DollarSwiss Franc1 CAD = 0.948 CHF1 CHF = 1.055 CAD
Canadian DollarChinese Yuan1 CAD = 6.608 CNY1 CNY = 0.151 CAD
Swiss FrancChinese Yuan1 CHF = 6.970 CNY1 CNY = 0.143 CHF

See what else happened on October 12th, 2010