Financial news on December 15th, 2006

Business and Financial news
Alan F. Shugart, 76, a Developer of Disk Drive Industry, Dies

Alan F. Shugart was an engineer and entrepreneur whose career defined the modern computer disk drive industry. Read more..

By JOHN MARKOFF - The New York Times

Angelo R. Cali, 91, Founder of Real Estate Trust, Dies

Angelo R. Cali’s family-owned real estate development company merged with the Mack Company in 1997 to create one of the country’s largest real estate investment trusts. Read more..

By DENNIS HEVESI - The New York Times

Chief Financial Officer Appointed by Times Company

The New York Times Company named James M. Follo, the former chief financial officer of Martha Stewart Living Omnimedia, as its chief financial officer. Read more..

By THE NEW YORK TIMES - The New York Times

Criminal Inquiries Look at U.S. Oil-Gas Unit

The two inquiries are just the latest of several into the Interior Department’s Minerals Management Service and its collection of royalties for oil and gas. Read more..

By EDMUND L. ANDREWS - The New York Times

New Minder of Expenses for Citigroup

Robert Druskin, Citigroup’s new chief operating officer, said he aims to make a “leaner, thinner Citigroup” to win over frustrated investors. Read more..

By ERIC DASH - The New York Times

OPEC Sets Reduction in Output

OPEC plans to reduce its output by nearly 2 percent in February, an indication that it wants to keep oil prices above $60 a barrel next year. Read more..

By JAD MOUAWAD - The New York Times

Suit Challenges Warm Gasoline

The suit accuses oil companies and gas stations of overcharging customers at the pump by failing to compensate for changes in gasoline volumes when temperatures rise. Read more..

By THE NEW YORK TIMES - The New York Times

U.A.W. President Won’t Rule Out a Merger With Another Union

A merger would help the United Auto Workers regain some of the influence it has lost as hundreds of thousands of factory jobs have been eliminated. Read more..

By NICK BUNKLEY - The New York Times

Vivendi to Keep NBC Stake – For Now

The French media conglomerate Vivendi is keeping its 20 percent stake in NBC Universal for now, an apparent vote of confidence in the ability of NBC TV’s chief, Jeff Zucker, to lift the network from the bottom of the ratings heap. Vivendi told NBC’s parent, General Electric, that it decided not to exercise its right next month to sell $3 billion worth of its NBC stake, which is valued at $8.3 billion. Read more..

By DEALBOOK - The New York Times

Why an Agency Said No to Wal-Mart

After suddenly calling off a lengthy ad agency search, Wal-Mart invited four of the five finalists to come pitch again. Three accepted. One walked away. Read more..

By STUART ELLIOTT - The New York Times

Stock Markets

Values are reported in US Dollars

StockTicker symbolOpenHighLowCloseVolume
General ElectricGE36.2637.5136.2137.3688.4M
Oracle Corp.ORCL18.0118.0317.5917.6870.4M
Cisco SystemsCSCO27.4327.7727.3327.5667M
AT&T Inc.T35.6236.0035.5635.6646.9M
Home DepotHD40.1140.3739.8339.8926M
Verizon CommunicationsVZ36.0036.5136.0036.4823.6M
Wells Fargo & Co.WFC35.6035.7735.4335.6519.6M
JPMorgan ChaseJPM48.2048.6548.0048.3016.2M
Wal-Mart StoresWMT46.6346.8946.3946.4516.1M
HP Inc.HPQ40.0040.2739.8639.9415.7M
Walt Disney & Co.DIS34.8234.8434.1534.3014.1M
Abbott LaboratoriesABT48.1048.6547.9048.4713.9M
Johnson & JohnsonJNJ66.5766.5765.5066.2912.8M
Procter & GamblePG63.4964.2463.3764.1111.5M
Bristol-Myers SquibbBMY25.5925.6725.4825.618.79M
United TechnologiesUTX62.4262.4962.0162.458.23M
International Business MachinesIBM95.6195.8095.0595.308.09M
UnitedHealth GroupUNH49.8550.1549.1450.097.42M
Gilead SciencesGILD64.0664.6963.1164.496.92M
Union PacificUNP94.0994.6293.1693.932.22M
Berkshire HathawayBRK.B3668.003800.003662.003800.0047.3K
Exchange Rates of December 15th, 2006
CurrenciesExchange Rates
US DollarJapanese Yen1 USD = 118.160 JPY1 JPY = 0.008 USD
US DollarCanadian Dollar1 USD = 1.158 CAD1 CAD = 0.864 USD
US DollarSwiss Franc1 USD = 1.221 CHF1 CHF = 0.819 USD
US DollarChinese Yuan1 USD = 7.828 CNY1 CNY = 0.128 USD
EuroJapanese Yen1 EUR = 154.580 JPY1 JPY = 0.006 EUR
EuroPound Sterling1 EUR = 0.670 GBP1 GBP = 1.493 EUR
EuroAustralian Dollar1 EUR = 1.673 AUD1 AUD = 0.598 EUR
EuroCanadian Dollar1 EUR = 1.514 CAD1 CAD = 0.660 EUR
EuroSwiss Franc1 EUR = 1.598 CHF1 CHF = 0.626 EUR
Japanese YenPound Sterling1 JPY = 0.433 GBP1 GBP = 2.308 JPY
Japanese YenAustralian Dollar1 JPY = 1.082 AUD1 AUD = 0.924 JPY
Japanese YenCanadian Dollar1 JPY = 0.979 CAD1 CAD = 1.021 JPY
Japanese YenSwiss Franc1 JPY = 1.033 CHF1 CHF = 0.968 JPY
Pound SterlingAustralian Dollar1 GBP = 2.498 AUD1 AUD = 0.400 GBP
Pound SterlingCanadian Dollar1 GBP = 2.260 CAD1 CAD = 0.442 GBP
Pound SterlingSwiss Franc1 GBP = 2.384 CHF1 CHF = 0.419 GBP
Australian DollarCanadian Dollar1 AUD = 0.904 CAD1 CAD = 1.106 AUD
Australian DollarSwiss Franc1 AUD = 0.954 CHF1 CHF = 1.048 AUD
Canadian DollarSwiss Franc1 CAD = 1.055 CHF1 CHF = 0.948 CAD

See what else happened on December 15th, 2006