Financial news on October 18th, 2006

Business and Financial news
2 Exchanges in Chicago Will Merge

The $8 billion merger between the Chicago Mercantile Exchange and the Chicago Board of Trade would create the largest market for financial derivatives contracts in the world. Read more..


A Lesson From Europe on Health Care

Strangely, we talk about medical spending as if it were nothing more than a drag on the economy, rather than an investment in the most important thing of all. Read more..

By DAVID LEONHARDT - The New York Times

An OPEC Meeting May Provide a Show of Unity, Without Agreement

The meeting will be an attempt to demonstrate unity against the drop in oil prices, but there is skepticism on how to allocate the cuts among its members effectively. Read more..

By JAD MOUAWAD - The New York Times

A Question of Eyeballs

Nielsen Media Research's project to monitor if people were actually watching commercials set off a battle in the TV industry worthy of a “Survivor” episode. Read more..

By LOUISE STORY - The New York Times

Germany: Investor Confidence Falls

German investor confidence unexpectedly fell to the lowest level in 13 years in October as the prospect of higher taxes and interest rate increases dragged down expectations for the economy next year. The ZEW Center for European Economic Research ... Read more..

By BLOOMBERG NEWS - The New York Times

Judge Throws Out Kenneth Lay’s Conviction

The decision prevents the government from seizing more than $43.5 million from his estate that prosecutors claimed he stole from Enron. Read more..

By KATE MURPHY - The New York Times

News Chains Post Mixed Results, and Their Share Prices Drop

McClatchy and E. W. Scripps posted third-quarter profits yesterday that sustained analysts’ estimates, but their stock prices fell anyway. Read more..

By Bloomberg News - The New York Times

Not Coming Soon to a Lot Near You: Chinese Cars

Chinese auto executives admit it could be 2020 before they will be ready to take on the world market. Read more..

By KEITH BRADSHER - The New York Times

Profit Falls, but Intel Looks Up

Intel's quarterly profit fell 35 percent due to a price war with Advanced Micro Devices but the company is optimistic about its future. Read more..

By LAURIE J. FLYNN - The New York Times

Viacom to Send Video to China’s Internet

The alliance between Viacom’s MTV Networks and is the biggest effort so far to introduce American entertainment into China. Read more..

By DAVID BARBOZA - The New York Times

Stock Markets

Values are reported in US Dollars

StockTicker symbolOpenHighLowCloseVolume
Cisco SystemsCSCO24.4324.6424.1024.1836.3M
International Business MachinesIBM90.6092.0489.7389.8227.9M
General ElectricGE35.7435.8435.4635.5627.5M
Oracle Corp.ORCL18.8418.9518.6918.7426.9M
AT&T Inc.T33.2533.4032.6132.9423.3M
JPMorgan ChaseJPM47.8548.0046.6147.2121.5M
Johnson & JohnsonJNJ66.5068.1566.5068.1517.9M
Abbott LaboratoriesABT47.6548.2547.2747.8514.4M
Walt Disney & Co.DIS31.2331.5931.2031.5813M
Home DepotHD35.9536.2635.7535.8912.4M
Verizon CommunicationsVZ36.8236.9936.3336.5911.7M
Wal-Mart StoresWMT48.4348.5748.1648.3510.3M
HP Inc.HPQ39.1239.4938.6239.0110.1M
UnitedHealth GroupUNH47.0148.0346.6548.009.84M
Procter & GamblePG62.1562.8362.0062.597.52M
Wells Fargo & Co.WFC36.7336.9536.4936.816.67M
Gilead SciencesGILD68.3669.0567.7167.725.8M
Bristol-Myers SquibbBMY24.6324.8124.5724.735.56M
United TechnologiesUTX65.5565.6064.8065.574.87M
Union PacificUNP92.7093.7990.5691.302.18M
Berkshire HathawayBRK.B3288.003320.003288.003309.008.7K
Exchange Rates of October 18th, 2006
CurrenciesExchange Rates
US DollarJapanese Yen1 USD = 118.890 JPY1 JPY = 0.008 USD
US DollarCanadian Dollar1 USD = 1.136 CAD1 CAD = 0.880 USD
US DollarSwiss Franc1 USD = 1.270 CHF1 CHF = 0.787 USD
US DollarChinese Yuan1 USD = 7.905 CNY1 CNY = 0.127 USD
EuroJapanese Yen1 EUR = 148.990 JPY1 JPY = 0.007 EUR
EuroPound Sterling1 EUR = 0.671 GBP1 GBP = 1.491 EUR
EuroAustralian Dollar1 EUR = 1.659 AUD1 AUD = 0.603 EUR
EuroCanadian Dollar1 EUR = 1.424 CAD1 CAD = 0.702 EUR
EuroSwiss Franc1 EUR = 1.591 CHF1 CHF = 0.628 EUR
Japanese YenPound Sterling1 JPY = 0.450 GBP1 GBP = 2.222 JPY
Japanese YenAustralian Dollar1 JPY = 1.113 AUD1 AUD = 0.899 JPY
Japanese YenCanadian Dollar1 JPY = 0.955 CAD1 CAD = 1.047 JPY
Japanese YenSwiss Franc1 JPY = 1.068 CHF1 CHF = 0.937 JPY
Pound SterlingAustralian Dollar1 GBP = 2.472 AUD1 AUD = 0.404 GBP
Pound SterlingCanadian Dollar1 GBP = 2.122 CAD1 CAD = 0.471 GBP
Pound SterlingSwiss Franc1 GBP = 2.371 CHF1 CHF = 0.422 GBP
Australian DollarCanadian Dollar1 AUD = 0.858 CAD1 CAD = 1.166 AUD
Australian DollarSwiss Franc1 AUD = 0.959 CHF1 CHF = 1.043 AUD
Canadian DollarSwiss Franc1 CAD = 1.117 CHF1 CHF = 0.895 CAD

See what else happened on October 18th, 2006