Financial news on October 18, 2010

Business and Financial news
A New Quandary for the Federal Reserve: Grappling With Low Inflation

The Fed is having to shift substantially from the approach that has defined it and from which it has long derived its institutional self-esteem. Read more..

By SEWELL CHAN - The New York Times

Barclays Chief Says Basel III Is Fair

Barclays’ chief executive John Varley has flown against the popular opinion of international banking by declaring the proposals of the Basel III committee — due to be signed off by the G20 next month — as fair, in an interview with The Financial Times. Read more..

By DEALBOOK - The New York Times

China Escalates Fight With U.S. on Energy Aid

China dismissed the American inquiry into subsidies for clean-energy industries as election-season politics. Read more..

By MICHAEL WINES and XIYUN YANG - The New York Times

Citi’s Uneasy Deal With EMI

Citi is scheduled to start defending itself in court on Monday in a case over the purchase of EMI, the British music company. Read more..

By UNA GALANI and IAN CAMPBELL - The New York Times

Ford Is Said to Be Planning to Cut Stake in Mazda

Ford is readying itself to cut its remaining interest in Japanese automakers Mazda from 11 percent to three percent, The Financial Times reported. Read more..

By DEALBOOK - The New York Times

Fox News Insinuates, but Walid Shrugs It Off

Prince Walid bin Talal of Saudi Arabia may be the News Corporation’s second-largest shareholder, but that hasn’t stopped critics on Fox News of taking aim at the investor over links to the proposed Islamic community center in Lower Manhattan. Read more..

By DEALBOOK - The New York Times

Mortgage Mess Draws in Foreclosure Lawyers

Lawyers who handle mortgage cases for banks are in the cross hairs, now that big lenders are acknowledging errors in foreclosure processing. Read more..

By DEALBOOK - The New York Times

Traffic Bait Doesn’t Bring Ad Clicks

A research company says the most profitable articles engage readers, with topics like unemployment and mortgage rates high on the list. Read more..

By JEREMY W. PETERS - The New York Times

U.S. Shuts Banks in Midwest

Lenders in Missouri and Kansas were shut by regulators on Friday, bringing the total bank failures in the nation this year to 132. Read more..

By DEALBOOK - The New York Times

White House Urges Calm About Banks

Amid a rising uproar over slipshod bank foreclosure practices, members of the Obama administration on Sunday expressed anger about the revelations, but urged caution as multiple investigations into the crisis unfold. 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 16.31 16.34 16.10 16.25 67.5M
Wells Fargo & Co. WFC 23.69 24.88 23.64 24.87 66.7M
JPMorgan Chase JPM 37.15 38.26 37.01 38.20 55.1M
Intel INTC 19.26 19.32 18.97 19.19 55M
Microsoft MSFT 25.59 25.95 25.45 25.82 48.3M
Pfizer PFE 17.73 17.87 17.62 17.80 42.7M
Cisco Systems CSCO 23.35 23.50 23.23 23.30 40.6M
Apple AAPL 318.47 319.00 314.29 318.00 39M
Oracle Corp. ORCL 28.73 29.23 28.58 29.23 35.8M
Comcast CMCSA 18.82 19.04 18.75 19.01 30.2M
ExxonMobil XOM 65.19 66.54 65.03 66.28 22.5M
HP Inc. HPQ 42.69 43.47 42.50 43.32 18.5M
Verizon Communications VZ 32.52 32.93 32.49 32.59 17.6M
ConocoPhillips COP 60.76 61.45 60.54 61.26 16.9M
AT&T Inc. T 28.39 28.70 28.39 28.62 15.8M
Alphabet GOOGL 600.55 619.69 600.55 617.71 14.2M
Abbott Laboratories ABT 53.18 53.67 53.05 53.67 12.8M
Procter & Gamble PG 62.88 63.52 62.64 63.35 11.4M
Altria MO 24.90 24.96 24.85 24.90 11M
Johnson & Johnson JNJ 63.69 63.98 63.25 63.86 10.8M
Home Depot HD 30.66 30.75 30.18 30.53 10.7M
Merck MRK 36.91 37.24 36.91 37.23 10.6M
International Business Machines IBM 140.90 143.03 140.84 142.83 10.3M
Amgen AMGN 56.37 57.96 56.21 57.96 10.2M
Coca-Cola KO 59.81 60.00 59.80 60.00 9.83M
Bristol-Myers Squibb BMY 27.29 27.33 26.95 27.33 9.71M
Wal-Mart Stores WMT 53.25 53.90 53.25 53.76 9.23M
Gilead Sciences GILD 37.92 37.99 37.51 37.54 8.53M
Schlumberger SLB 63.90 65.66 63.53 64.51 8.08M
UnitedHealth Group UNH 36.09 36.37 35.84 36.25 8.04M
Chevron CVX 83.48 84.77 83.40 84.48 7.8M
Walt Disney & Co. DIS 34.83 35.00 34.50 34.75 6.93M
Amazon AMZN 165.00 165.19 161.82 163.56 6.33M
McDonald's MCD 77.54 77.94 77.16 77.32 5.38M
Visa V 77.51 78.37 76.75 78.36 5.04M
Pepsico PEP 66.82 67.02 66.48 66.50 4.82M
Boeing BA 70.19 71.05 70.03 70.23 4.82M
United Technologies UTX 74.27 74.90 73.98 74.56 3.83M
Berkshire Hathaway BRK.B 83.22 84.00 83.11 83.50 3.83M
3M MMM 89.09 89.92 88.69 89.66 2.69M
Union Pacific UNP 85.58 85.60 84.88 85.43 1.76M
Exchange Rates of October 18, 2010
CurrenciesExchange Rates
US Dollar Japanese Yen 1 USD = 81.260 JPY 1 JPY = 0.012 USD
US Dollar Canadian Dollar 1 USD = 1.018 CAD 1 CAD = 0.983 USD
US Dollar Swiss Franc 1 USD = 0.959 CHF 1 CHF = 1.043 USD
US Dollar Chinese Yuan 1 USD = 6.645 CNY 1 CNY = 0.150 USD
Euro Japanese Yen 1 EUR = 113.340 JPY 1 JPY = 0.009 EUR
Euro Pound Sterling 1 EUR = 0.878 GBP 1 GBP = 1.139 EUR
Euro Australian Dollar 1 EUR = 1.409 AUD 1 AUD = 0.710 EUR
Euro Canadian Dollar 1 EUR = 1.419 CAD 1 CAD = 0.705 EUR
Euro Swiss Franc 1 EUR = 1.337 CHF 1 CHF = 0.748 EUR
Euro Chinese Yuan 1 EUR = 9.269 CNY 1 CNY = 0.108 EUR
Japanese Yen Pound Sterling 1 JPY = 0.774 GBP 1 GBP = 1.292 JPY
Japanese Yen Australian Dollar 1 JPY = 1.242 AUD 1 AUD = 0.805 JPY
Japanese Yen Canadian Dollar 1 JPY = 1.251 CAD 1 CAD = 0.799 JPY
Japanese Yen Swiss Franc 1 JPY = 1.180 CHF 1 CHF = 0.848 JPY
Pound Sterling Australian Dollar 1 GBP = 1.605 AUD 1 AUD = 0.623 GBP
Pound Sterling Canadian Dollar 1 GBP = 1.617 CAD 1 CAD = 0.618 GBP
Pound Sterling Swiss Franc 1 GBP = 1.523 CHF 1 CHF = 0.656 GBP
Pound Sterling Chinese Yuan 1 GBP = 10.554 CNY 1 CNY = 0.095 GBP
Australian Dollar Canadian Dollar 1 AUD = 1.007 CAD 1 CAD = 0.993 AUD
Australian Dollar Swiss Franc 1 AUD = 0.949 CHF 1 CHF = 1.054 AUD
Australian Dollar Chinese Yuan 1 AUD = 6.576 CNY 1 CNY = 0.152 AUD
Canadian Dollar Swiss Franc 1 CAD = 0.942 CHF 1 CHF = 1.062 CAD
Canadian Dollar Chinese Yuan 1 CAD = 6.532 CNY 1 CNY = 0.153 CAD
Swiss Franc Chinese Yuan 1 CHF = 6.929 CNY 1 CNY = 0.144 CHF

See what else happened on October 18, 2010