Financial news on June 15th, 2007

Business and Financial news
2 Lawyers Sued by S.E.C. in Penny Stock Fraud Case

The two lawyers are charged with having played important roles in a penny stock fraud that cost investors at least $160,000 in 2005. Read more..

By FLOYD NORRIS - The New York Times

A Man Would Lose His Land While Another Would Benefit

Many here praise Mike Keiser because his golf resort created 325 full-time jobs. But Scott Cook says Mr. Keiser is going too far. Read more..

By DAVID CAY JOHNSTON - The New York Times

A Tower of Babel in Accounting?

The S.E.C. is expected to propose a rule that would allow foreign companies using international accounting standards to stop reconciling their financial statements to U.S. rules. Read more..

By FLOYD NORRIS - The New York Times

Boom Times for Banks in Venezuela

President Hugo Chávez’s economic policies have been generating a boom for those most capitalist of institutions — Venezuela’s banks. Read more..

By JENS ERIK GOULD - The New York Times

Chinese in Talks to Send Pickups to Mexico

A small Chinese automaker and its New Jersey partner are negotiating with Mexican officials to import Chinese-made pickup trucks and sport utility vehicles. Read more..

By ELISABETH MALKIN - The New York Times

In the Venture Capital World, a Helping Hand for Women and Minorities

Technology investors have done a poor job of integrating African-Americans, Hispanics and particularly minority women into their ranks. Read more..

By MATT RICHTEL - The New York Times

Rising Rates Squeeze Consumers and Companies

The fallout from rising yields on the 10-year Treasury note is likely to be felt most immediately by homeowners and people looking to buy a house. Read more..


Russia: Economy Expanded in Quarter

Russia’s economy expanded in the first quarter at the fastest pace in six years as production of building materials increased to keep pace with a construction boom and consumer demand remained strong. Gross domestic product rose at an annual rate ... Read more..

By BLOOMBERG NEWS - The New York Times

Subprime Problems Hit Both Goldman and Bear Stearns

Turmoil in the subprime mortgage market took its toll on two Wall Street investment banks today, as second-quarter profit at Bear Stearns dropped 33 percent and Goldman Sachs squeezed out a modest 1 percent rise in profit. Read more..

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

Suitor for Midwest Air Wins Board Seats

Shareholders of the Midwest Air Group elected three directors backed by a hostile suitor, AirTran Holdings, increasing pressure on Midwest’s board to consider AirTran’s $389 million takeover offer for the airline. Read more..

By BLOOMBERG NEWS - The New York Times

Stock Markets

Values are reported in US Dollars

StockTicker symbolOpenHighLowCloseVolume
Cisco SystemsCSCO27.0427.4026.8827.3974.5M
General ElectricGE38.0038.1637.9638.1247.6M
Oracle Corp.ORCL19.9119.9519.7519.8640.7M
AT&T Inc.T40.9240.9240.2440.2836.4M
Wal-Mart StoresWMT49.3449.6849.2149.3422.7M
Walt Disney & Co.DIS34.1034.7534.0034.4022.3M
Bristol-Myers SquibbBMY30.1130.8830.0530.7621.6M
Home DepotHD38.3338.4937.9537.9521.1M
HP Inc.HPQ45.8146.0345.7145.7118.7M
JPMorgan ChaseJPM50.6450.9950.4250.5618.4M
Procter & GamblePG62.6662.8062.2562.5717.2M
Johnson & JohnsonJNJ62.9063.1262.5762.7716.8M
Verizon CommunicationsVZ43.5543.5942.9142.9915.5M
Wells Fargo & Co.WFC36.0536.4735.9535.9713.5M
Abbott LaboratoriesABT54.4755.0554.2554.7213.2M
International Business MachinesIBM104.40105.19103.88105.099.43M
UnitedHealth GroupUNH53.1253.2552.7852.907.57M
Gilead SciencesGILD81.2482.1780.4880.836.73M
United TechnologiesUTX71.9072.3071.6972.016.13M
Union PacificUNP118.70121.74118.70120.263.35M
Berkshire HathawayBRK.B3621.003635.003621.003622.0012.5K
Exchange Rates of June 15th, 2007
CurrenciesExchange Rates
US DollarJapanese Yen1 USD = 123.430 JPY1 JPY = 0.008 USD
US DollarCanadian Dollar1 USD = 1.068 CAD1 CAD = 0.937 USD
US DollarSwiss Franc1 USD = 1.241 CHF1 CHF = 0.806 USD
US DollarChinese Yuan1 USD = 7.625 CNY1 CNY = 0.131 USD
EuroJapanese Yen1 EUR = 165.270 JPY1 JPY = 0.006 EUR
EuroPound Sterling1 EUR = 0.677 GBP1 GBP = 1.476 EUR
EuroAustralian Dollar1 EUR = 1.589 AUD1 AUD = 0.629 EUR
EuroCanadian Dollar1 EUR = 1.429 CAD1 CAD = 0.700 EUR
EuroSwiss Franc1 EUR = 1.662 CHF1 CHF = 0.602 EUR
Japanese YenPound Sterling1 JPY = 0.410 GBP1 GBP = 2.441 JPY
Japanese YenAustralian Dollar1 JPY = 0.961 AUD1 AUD = 1.040 JPY
Japanese YenCanadian Dollar1 JPY = 0.865 CAD1 CAD = 1.157 JPY
Japanese YenSwiss Franc1 JPY = 1.005 CHF1 CHF = 0.995 JPY
Pound SterlingAustralian Dollar1 GBP = 2.346 AUD1 AUD = 0.426 GBP
Pound SterlingCanadian Dollar1 GBP = 2.110 CAD1 CAD = 0.474 GBP
Pound SterlingSwiss Franc1 GBP = 2.452 CHF1 CHF = 0.408 GBP
Australian DollarCanadian Dollar1 AUD = 0.899 CAD1 CAD = 1.113 AUD
Australian DollarSwiss Franc1 AUD = 1.045 CHF1 CHF = 0.957 AUD
Canadian DollarSwiss Franc1 CAD = 1.162 CHF1 CHF = 0.861 CAD

See what else happened on June 15th, 2007