Financial news on August 16th, 2006

Business and Financial news
3M Will Expand Buyback

By Bloomberg News. Read more..

By BLOOMBERG NEWS - The New York Times

British Airport Operator Faulted for Not Hiring Temps

Critics said that because of BAA’s limited ability to pass any additional costs on to the airlines, it had no real incentive to spend money to hire more workers. Read more..

By HEATHER TIMMONS - The New York Times

F.B.I. Calls Ex-Comverse Chief a Fugitive, and Casts a Wide Net

Jacob Alexander was charged with conspiracy to commit securities fraud in relation to a suspect stock options scheme. He did not show up for his arraignment. Read more..

By JULIE CRESWELL - The New York Times

Monsanto Buys Delta and Pine Land, Top Supplier of Cotton Seeds in U.S.

Monsanto will acquire the Delta and Pine Land Company, the nation’s leading supplier of cotton seeds, in a move that would add to Monsanto’s commanding position in the business of biotechnology crops. Read more..

By ANDREW POLLACK - The New York Times

Office Tenants Eager for Early Renewals

Manhattan’s office market has been so robust this year that some real estate brokers said firms are renewing their leases early to lock in rents. Read more..

By ALISON GREGOR - The New York Times

Pfizer’s New Leader Realigns Top Positions

Pfizer’s new chief executive, Jeffrey B. Kindler, has moved to put his stamp on the drug maker with a wide-ranging executive reorganization. Read more..

By ALEX BERENSON - The New York Times

Rank Colleges, but Rank Them Right

Do we spend too much time worrying about college rankings? Or not nearly enough? Read more..

By DAVID LEONHARDT - The New York Times

What Working in I.T. Really Means

I used to believe that I.T. people didn't like Macs because they are less trouble-prone and would make their jobs obsolete. Today, however, I'm convinced that it's a myth. Read more..

By DAVID POGUE - The New York Times

With Its Stock Still Lackluster, G.E. Confronts the Curse of the Conglomerate

Investors seem to have trouble understanding that General Electric’s wildly disparate units march to the same corporate tune. Read more..

By CLAUDIA H. DEUTSCH - The New York Times

Stock Markets

Values are reported in US Dollars

StockTicker symbolOpenHighLowCloseVolume
Cisco SystemsCSCO20.8021.1420.5921.1065.3M
Oracle Corp.ORCL15.7415.7515.4115.5449.6M
HP Inc.HPQ34.2036.2334.0834.4325.1M
General ElectricGE33.3733.8433.3233.7123.9M
Wal-Mart StoresWMT44.5544.6844.0544.4316.5M
Bristol-Myers SquibbBMY20.9121.1520.8521.0815.2M
Abbott LaboratoriesABT49.0049.2848.8549.2814M
Home DepotHD34.5534.6134.0234.5012.5M
Walt Disney & Co.DIS29.7129.7629.5629.719.92M
JPMorgan ChaseJPM45.4445.6545.1245.478.81M
AT&T Inc.T30.4030.4030.2430.258.49M
Verizon CommunicationsVZ34.3934.4234.1634.237.95M
Wells Fargo & Co.WFC35.2035.3835.0835.237.87M
International Business MachinesIBM77.4579.2877.3579.097.39M
Procter & GamblePG60.3860.5660.2360.426.61M
Johnson & JohnsonJNJ64.4864.7564.4264.615.71M
Gilead SciencesGILD62.6364.0662.5564.004.87M
UnitedHealth GroupUNH48.2948.5047.8448.144.1M
United TechnologiesUTX61.2562.4961.0062.172.63M
Union PacificUNP82.6084.6881.9984.591.89M
Berkshire HathawayBRK.B3075.003162.003075.003145.0030.4K
Exchange Rates of August 16th, 2006
CurrenciesExchange Rates
US DollarJapanese Yen1 USD = 115.820 JPY1 JPY = 0.009 USD
US DollarCanadian Dollar1 USD = 1.119 CAD1 CAD = 0.894 USD
US DollarSwiss Franc1 USD = 1.229 CHF1 CHF = 0.813 USD
US DollarChinese Yuan1 USD = 7.988 CNY1 CNY = 0.125 USD
EuroJapanese Yen1 EUR = 148.720 JPY1 JPY = 0.007 EUR
EuroPound Sterling1 EUR = 0.677 GBP1 GBP = 1.477 EUR
EuroAustralian Dollar1 EUR = 1.670 AUD1 AUD = 0.599 EUR
EuroCanadian Dollar1 EUR = 1.437 CAD1 CAD = 0.696 EUR
EuroSwiss Franc1 EUR = 1.579 CHF1 CHF = 0.634 EUR
Japanese YenPound Sterling1 JPY = 0.455 GBP1 GBP = 2.198 JPY
Japanese YenAustralian Dollar1 JPY = 1.123 AUD1 AUD = 0.891 JPY
Japanese YenCanadian Dollar1 JPY = 0.966 CAD1 CAD = 1.036 JPY
Japanese YenSwiss Franc1 JPY = 1.061 CHF1 CHF = 0.942 JPY
Pound SterlingAustralian Dollar1 GBP = 2.468 AUD1 AUD = 0.405 GBP
Pound SterlingCanadian Dollar1 GBP = 2.123 CAD1 CAD = 0.471 GBP
Pound SterlingSwiss Franc1 GBP = 2.331 CHF1 CHF = 0.429 GBP
Australian DollarCanadian Dollar1 AUD = 0.859 CAD1 CAD = 1.164 AUD
Australian DollarSwiss Franc1 AUD = 0.944 CHF1 CHF = 1.059 AUD
Canadian DollarSwiss Franc1 CAD = 1.098 CHF1 CHF = 0.911 CAD

See what else happened on August 16th, 2006