Financial news on July 16, 2010

Business and Financial news
Banks Seek to Keep Profits as New Oversight Rules Loom

With the final approval of financial regulatory reform, banks have moved quickly to turn the rules to their advantage by adding new fees and revamping their derivatives operations. Read more..

By ERIC DASH and NELSON D. SCHWARTZ - The New York Times

Basel Committee Agrees Bank Buffer Strategy

Banking supervisors published draft rules on Friday that will force banks around the world to build up extra capital in good times, but gave no hint of what level of funds banks would be required to hold, Reuters reported. Read more..

By DEALBOOK - The New York Times

Citigroup Says It Classified Certain Repos as Sales

Citigroup said in a letter to the federal securities regulator that it had unintentionally classified as much as $9.2 billion of repurchase agreements as sales at one point, when they should have been shown as borrowings, Reuters reported. Read more..

By DEALBOOK - The New York Times

Estate Planning Step 1: Recognize You Are Going to Die

Estate planning is less a matter of how much you have than where it is and how and to whom it will be transferred when the time comes. Read more..

By CONRAD DE AENLLE - International Herald Tribune

India Adopts a New Symbol for Its Currency

The Indian rupee joined the dollar, the pound, the euro and the yen on Thursday when it got its very own symbol. Read more..

By HEATHER TIMMONS - International Herald Tribune

Laying It Out for Your Heirs

Five steps to take to prepare for the last big one. Read more..

By ANNE BAGAMERY - International Herald Tribune

Obama Pushes Agenda, Despite Political Risks

The president’s successes pose a paradox. He is winning on Capitol Hill, but losing with voters. Read more..

By SHERYL GAY STOLBERG - The New York Times

Paulson Deal May Put Harrah’s on the Stock Exchange

Harrah’s Entertainment, the world’s biggest casino owner, expects to list some shares publicly in coming months because of the deal owners Apollo Management and TPG struck with John A. Paulson, the billionaire hedge fund manager, Bloomberg News reported. Read more..

By DEALBOOK - The New York Times

U.K. Fraud Office Drops Probe of Dynamic Decisions

Prosecutors at Britain’s Serious Fraud Office dropped a probe into the hedge fund Dynamic Decisions Capital, saying they didn’t find enough evidence to go ahead with a prosecution, Bloomberg News reported. Read more..

By DEALBOOK - The New York Times

V.C. Investments Climb 53% in 2Q

Venture capitalists funneled more money into American startups in the second quarter, indicating continuing confidence that the economy is on the mend, The Associated Press reported. Read more..

By DEALBOOK - The New York Times

Stock Markets

Values are reported in US Dollars

Stock Ticker symbol Open High Low Close Volume
General Electric GE 15,00 15,06 14,50 14,55 125M
Intel INTC 21,43 21,48 21,00 21,02 80.5M
Cisco Systems CSCO 23,87 23,87 22,61 22,75 77.1M
Microsoft MSFT 25,51 25,64 24,88 24,89 65.1M
JPMorgan Chase JPM 40,28 40,35 38,86 39,00 58.5M
Wells Fargo & Co. WFC 27,44 27,47 26,16 26,24 55.5M
Pfizer PFE 14,83 14,94 14,55 14,56 47.8M
Apple AAPL 253,18 254,97 248,41 249,90 37.1M
ExxonMobil XOM 58,84 59,11 57,81 57,96 35.8M
AT&T Inc. T 24,97 25,10 24,65 24,69 33.3M
Gilead Sciences GILD 34,48 34,89 31,83 31,94 31.3M
Oracle Corp. ORCL 23,80 23,95 23,25 23,27 30.3M
Comcast CMCSA 19,31 19,35 18,48 18,54 27M
Home Depot HD 28,15 28,28 27,05 27,11 21.9M
Verizon Communications VZ 26,78 27,00 26,60 26,69 21.7M
Abbott Laboratories ABT 47,91 48,14 47,02 47,07 19M
Johnson & Johnson JNJ 60,00 60,19 59,25 59,44 17.6M
Schlumberger SLB 58,50 58,51 56,60 56,68 17.1M
Merck MRK 36,53 36,80 35,88 35,91 16.6M
Wal-Mart Stores WMT 50,15 50,33 49,52 49,67 15.9M
Alphabet GOOGL 469,12 470,56 459,52 459,61 15.6M
Procter & Gamble PG 62,45 62,67 61,63 61,99 14.1M
Altria MO 21,41 21,46 21,11 21,26 14.1M
HP Inc. HPQ 47,11 47,39 46,10 46,20 13.4M
Bristol-Myers Squibb BMY 25,44 25,47 25,10 25,17 13.1M
Walt Disney & Co. DIS 33,89 34,00 32,92 33,03 13.1M
Chevron CVX 72,65 72,84 71,25 71,50 12.1M
ConocoPhillips COP 52,60 52,80 51,60 51,85 11.4M
Coca-Cola KO 52,77 53,08 52,21 52,37 9.78M
Visa V 73,60 73,75 71,27 71,45 9.76M
Pepsico PEP 63,05 63,53 62,24 62,45 9.51M
UnitedHealth Group UNH 30,73 31,12 30,15 30,34 9.41M
Berkshire Hathaway BRK.B 79,30 79,43 77,00 77,10 9.29M
Amgen AMGN 52,91 53,13 51,93 52,17 8.03M
Boeing BA 63,96 64,26 61,68 61,90 7.02M
International Business Machines IBM 129,96 130,15 127,85 128,03 7M
Union Pacific UNP 71,78 71,92 68,46 68,81 6.31M
Amazon AMZN 121,28 121,92 118,01 118,49 6.23M
McDonald's MCD 71,16 71,28 69,86 69,94 5.98M
United Technologies UTX 67,95 68,02 65,88 66,03 4.5M
3M MMM 82,71 82,77 80,70 80,95 4.3M
Exchange Rates of July 16, 2010
CurrenciesExchange Rates
US Dollar Japanese Yen 1 USD = 86,560 JPY 1 JPY = 0,012 USD
US Dollar Canadian Dollar 1 USD = 1,056 CAD 1 CAD = 0,947 USD
US Dollar Swiss Franc 1 USD = 1,050 CHF 1 CHF = 0,952 USD
US Dollar Chinese Yuan 1 USD = 6,775 CNY 1 CNY = 0,148 USD
Euro Japanese Yen 1 EUR = 111,920 JPY 1 JPY = 0,009 EUR
Euro Pound Sterling 1 EUR = 0,845 GBP 1 GBP = 1,184 EUR
Euro Australian Dollar 1 EUR = 1,487 AUD 1 AUD = 0,672 EUR
Euro Canadian Dollar 1 EUR = 1,368 CAD 1 CAD = 0,731 EUR
Euro Swiss Franc 1 EUR = 1,358 CHF 1 CHF = 0,736 EUR
Euro Chinese Yuan 1 EUR = 8,763 CNY 1 CNY = 0,114 EUR
Japanese Yen Pound Sterling 1 JPY = 0,755 GBP 1 GBP = 1,325 JPY
Japanese Yen Australian Dollar 1 JPY = 1,329 AUD 1 AUD = 0,753 JPY
Japanese Yen Canadian Dollar 1 JPY = 1,221 CAD 1 CAD = 0,819 JPY
Japanese Yen Swiss Franc 1 JPY = 1,214 CHF 1 CHF = 0,824 JPY
Pound Sterling Australian Dollar 1 GBP = 1,760 AUD 1 AUD = 0,568 GBP
Pound Sterling Canadian Dollar 1 GBP = 1,617 CAD 1 CAD = 0,618 GBP
Pound Sterling Swiss Franc 1 GBP = 1,607 CHF 1 CHF = 0,622 GBP
Pound Sterling Chinese Yuan 1 GBP = 10,361 CNY 1 CNY = 0,097 GBP
Australian Dollar Canadian Dollar 1 AUD = 0,919 CAD 1 CAD = 1,088 AUD
Australian Dollar Swiss Franc 1 AUD = 0,912 CHF 1 CHF = 1,096 AUD
Australian Dollar Chinese Yuan 1 AUD = 5,895 CNY 1 CNY = 0,170 AUD
Canadian Dollar Swiss Franc 1 CAD = 0,993 CHF 1 CHF = 1,007 CAD
Canadian Dollar Chinese Yuan 1 CAD = 6,428 CNY 1 CNY = 0,156 CAD
Swiss Franc Chinese Yuan 1 CHF = 6,446 CNY 1 CNY = 0,155 CHF

See what else happened on July 16, 2010