Financial news on March 13th, 2007

Business and Financial news
Akzo Nobel Sells Drug Unit to Schering-Plough

The $14.4 billion cash deal for Organon BioSciences, a maker of birth-control pills, took investors by surprise. Read more..

By JULIA WERDIGIER - The New York Times

Big Money Still Learning to Lobby

The hedge fund industry seems resigned to no longer be a wallflower in Washington as it joins the lobbying dance with Congress. Read more..

By JENNY ANDERSON - The New York Times

Bristol-Myers Tightens Process for Setting C.E.O. Pay

The company accepted a Harvard professor’s proposal that the chief executive’s pay be subject to approval by three-quarters of the independent directors. Read more..

By STEPHANIE SAUL - The New York Times

Buyout Firm Is Acquiring Dollar General Retail Chain

Kohlberg Kravis Roberts, the giant buyout firm, said it would pay $6.9 billion to take the discount retailer Dollar General private. Read more..

By JEREMY W. PETERS - The New York Times

Canada: Bidding for Mining Concern

Oxbow Carbon and Minerals Holdings raised its offer for the Great Lakes Carbon Income Fund to about 657 million Canadian dollars ($562 million), topping a higher bid from Rain Commodities and extending a bidding war for Great Lakes, a producer of ... Read more..

By BLOOMBERG NEWS - The New York Times

Canada: Hotel Operator Posts a Profit

Four Seasons Hotels, the world’s largest operator of luxury hotels, reported a fourth-quarter profit on higher room revenue. Four Seasons, based in Toronto, said profit was $16.9 million, or 44 cents a share, in contrast to a loss of $37.8 million... Read more..

By BLOOMBERG NEWS - The New York Times

Ford Is Selling Aston Martin

As part of its recovery plan, Ford will sell the maker of upscale British sports cars to a group of investors that includes the racing mogul David Richards. Read more..

By NICK BUNKLEY - The New York Times

Ford to Sell Aston Martin to Group Led by Ex-Racer

Ford will raise $848 million toward its overhaul plan by selling Aston Martin, its British luxury sports car brand. Read more..

By NICK BUNKLEY - The New York Times

Former Executives of Nortel Are Accused of Accounting Fraud

The executives were accused of committing accounting fraud to meet earnings forecasts and investor expectations. Read more..


Stock Markets

Values are reported in US Dollars

StockTicker symbolOpenHighLowCloseVolume
Cisco SystemsCSCO26.0026.2325.4725.5058M
General ElectricGE34.2734.3834.0134.0938.9M
Oracle Corp.ORCL16.9317.2116.6516.6531.4M
AT&T Inc.T36.7337.4836.6537.2628.2M
JPMorgan ChaseJPM48.4548.5046.5646.7025.3M
Wal-Mart StoresWMT46.9847.1346.0346.1824M
Wells Fargo & Co.WFC34.2634.4433.4233.4721.9M
Home DepotHD38.0038.1337.2537.3521.4M
Johnson & JohnsonJNJ61.4061.7360.6160.7717.2M
Abbott LaboratoriesABT54.0054.7153.9754.1117.1M
Verizon CommunicationsVZ36.4236.6335.9436.1315.7M
HP Inc.HPQ40.0540.3739.4539.5514M
Walt Disney & Co.DIS33.9934.1233.5133.6213.9M
Procter & GamblePG61.8562.1261.1461.1711.3M
UnitedHealth GroupUNH53.2754.0252.9753.0010.3M
Bristol-Myers SquibbBMY27.4027.4626.7726.809.37M
International Business MachinesIBM93.8694.4792.6292.717.54M
United TechnologiesUTX65.2065.2064.2864.314.1M
Gilead SciencesGILD70.0970.7768.8368.834.1M
Union PacificUNP100.40100.5797.8998.062.12M
Berkshire HathawayBRK.B3623.003628.003586.003603.009.8K
Exchange Rates of March 13th, 2007
CurrenciesExchange Rates
US DollarJapanese Yen1 USD = 116.280 JPY1 JPY = 0.009 USD
US DollarCanadian Dollar1 USD = 1.175 CAD1 CAD = 0.851 USD
US DollarSwiss Franc1 USD = 1.218 CHF1 CHF = 0.821 USD
US DollarChinese Yuan1 USD = 7.747 CNY1 CNY = 0.129 USD
EuroJapanese Yen1 EUR = 153.440 JPY1 JPY = 0.007 EUR
EuroPound Sterling1 EUR = 0.684 GBP1 GBP = 1.462 EUR
EuroAustralian Dollar1 EUR = 1.688 AUD1 AUD = 0.593 EUR
EuroCanadian Dollar1 EUR = 1.550 CAD1 CAD = 0.645 EUR
EuroSwiss Franc1 EUR = 1.607 CHF1 CHF = 0.622 EUR
Japanese YenPound Sterling1 JPY = 0.446 GBP1 GBP = 2.245 JPY
Japanese YenAustralian Dollar1 JPY = 1.099 AUD1 AUD = 0.910 JPY
Japanese YenCanadian Dollar1 JPY = 1.010 CAD1 CAD = 0.990 JPY
Japanese YenSwiss Franc1 JPY = 1.047 CHF1 CHF = 0.955 JPY
Pound SterlingAustralian Dollar1 GBP = 2.468 AUD1 AUD = 0.405 GBP
Pound SterlingCanadian Dollar1 GBP = 2.267 CAD1 CAD = 0.441 GBP
Pound SterlingSwiss Franc1 GBP = 2.348 CHF1 CHF = 0.426 GBP
Australian DollarCanadian Dollar1 AUD = 0.918 CAD1 CAD = 1.089 AUD
Australian DollarSwiss Franc1 AUD = 0.951 CHF1 CHF = 1.051 AUD
Canadian DollarSwiss Franc1 CAD = 1.036 CHF1 CHF = 0.965 CAD

See what else happened on March 13th, 2007