Financial news on July 13th, 2007

Business and Financial news
Building a Portfolio With Things, Not Paper

As investors search for ways to diversify risk, hedge funds have expanded investments beyond stocks and bonds into art, wine, rare stamps and even soccer players. Read more..

By JULIA WERDIGIER - The New York Times

DealBook at Sun Valley: Late Night With Eric Schmidt

After two days of watching boldface names from afar, David Carr sits down with Eric Schmidt of Google for a late night chat. Surprise: He thinks Viacom’s $1 billion copyright suit against Google is nonsense. Read more..

By DEALBOOK - The New York Times

DealBook at Sun Valley: Sergey Brin on Facebook

“Facebook? I really like the Facebook guys,” said Sergey Brin at the Sun Valley conference, pausing as if to consider what might be the right thing to say. “If they come to us, we’d certainly be open to talking. But I think they’re building a great company of their own.” Read more..

By DEALBOOK - The New York Times

E3: Nintendo’s Massive Product Demo

At the E3 game conference in Santa Monica this week, Nintendo continued to be in unaccustomed role of 800 pound gorilla. The popularity of its Wii platform prompted a price cut by Sony. And Microsoft was reeling after admitting that there were defects in many of its Xbox 360 systems. Reggie Fils-Aime, the president of […] Read more..

By ERIC A. TAUB - The New York Times

France: Sales Rise at L’oréal

L’Oréal, the cosmetics maker, said second-quarter sales rose 10 percent on gains in Eastern Europe and Asia and a recovery in North America. Sales rose to 4.25 billion euros ($5.85 billion) from 3.85 billion euros a year earlier. L’Oréal, based in... Read more..

By BLOOMBERG NEWS - The New York Times

Google v. Microsoft (again)

Google and Microsoft downplay the competition between each other — at least when it comes to software applications. Read more..

By MIGUEL HELFT - The New York Times

He Didn’t Want To Be That Kind of Friend

An acquaintance unfriends Saul Hansell on Facebook and asks him to meet on more neutral ground: LinkedIn. What is friendship in the modern world. Read more..

By SAUL HANSELL - The New York Times

Low-Cost Chinese Cars Making Restrained Entry to European Market

Aided by a weak dollar, China is quietly entering the European auto market in the first test of rich markets by Chinese automakers Read more..

By JOHN TAGLIABUE - The New York Times

Shares Soar on Retail Data; 2 Wall Street Records

Wall Street soared today, propelling the Standard & Poor’s 500 index and Dow Jones industrials to record highs. Read more..

By JEREMY W. PETERS - The New York Times

Suit in U.S. Over Murders in Colombia

An Alabama-based coal company is facing a civil suit over the 2001 murders of three Colombian union leaders who worked for one of the company’s mines. Read more..

By KYLE WHITMIRE - The New York Times

Stock Markets

Values are reported in US Dollars

StockTicker symbolOpenHighLowCloseVolume
General ElectricGE39.6340.1739.5039.5076M
Cisco SystemsCSCO29.5229.9629.5029.8956.3M
Oracle Corp.ORCL20.5020.5020.2520.4023.2M
AT&T Inc.T40.5140.8840.3040.4018.6M
JPMorgan ChaseJPM49.6850.2249.2750.0516.4M
HP Inc.HPQ47.0547.3446.6047.2513.7M
Wal-Mart StoresWMT48.7649.2648.6749.1513.1M
Home DepotHD40.8541.0140.6140.8712M
Procter & GamblePG62.5963.0062.2562.6612M
Abbott LaboratoriesABT53.5553.7553.2253.2410.1M
Wells Fargo & Co.WFC35.3435.6135.2935.549.72M
Verizon CommunicationsVZ41.5642.2741.3841.769.03M
Johnson & JohnsonJNJ63.4763.6063.0163.439M
Walt Disney & Co.DIS34.1034.5734.0034.378.21M
International Business MachinesIBM108.75109.20108.10108.607.12M
Bristol-Myers SquibbBMY32.0032.2431.9032.066.53M
United TechnologiesUTX74.2575.2173.7175.004.91M
UnitedHealth GroupUNH53.0053.0852.3752.984.48M
Gilead SciencesGILD39.7040.0039.3839.964.08M
Union PacificUNP119.79121.20118.59120.801.4M
Berkshire HathawayBRK.B3670.003677.503657.003677.509K
Exchange Rates of July 13th, 2007
CurrenciesExchange Rates
US DollarJapanese Yen1 USD = 121.910 JPY1 JPY = 0.008 USD
US DollarCanadian Dollar1 USD = 1.048 CAD1 CAD = 0.955 USD
US DollarSwiss Franc1 USD = 1.202 CHF1 CHF = 0.832 USD
US DollarChinese Yuan1 USD = 7.570 CNY1 CNY = 0.132 USD
EuroJapanese Yen1 EUR = 168.040 JPY1 JPY = 0.006 EUR
EuroPound Sterling1 EUR = 0.678 GBP1 GBP = 1.476 EUR
EuroAustralian Dollar1 EUR = 1.582 AUD1 AUD = 0.632 EUR
EuroCanadian Dollar1 EUR = 1.444 CAD1 CAD = 0.693 EUR
EuroSwiss Franc1 EUR = 1.657 CHF1 CHF = 0.603 EUR
Japanese YenPound Sterling1 JPY = 0.403 GBP1 GBP = 2.482 JPY
Japanese YenAustralian Dollar1 JPY = 0.941 AUD1 AUD = 1.063 JPY
Japanese YenCanadian Dollar1 JPY = 0.859 CAD1 CAD = 1.164 JPY
Japanese YenSwiss Franc1 JPY = 0.986 CHF1 CHF = 1.014 JPY
Pound SterlingAustralian Dollar1 GBP = 2.335 AUD1 AUD = 0.428 GBP
Pound SterlingCanadian Dollar1 GBP = 2.131 CAD1 CAD = 0.469 GBP
Pound SterlingSwiss Franc1 GBP = 2.446 CHF1 CHF = 0.409 GBP
Australian DollarCanadian Dollar1 AUD = 0.912 CAD1 CAD = 1.096 AUD
Australian DollarSwiss Franc1 AUD = 1.047 CHF1 CHF = 0.955 AUD
Canadian DollarSwiss Franc1 CAD = 1.148 CHF1 CHF = 0.871 CAD

See what else happened on July 13th, 2007