Financial news on August 20th, 2010

Business and Financial news
Bank of America’s Ex-Chief Denies Fraud Charges

Kenneth D. Lewis, the former chief executive of Bank of America, responding to a lawsuit filed early this year by the attorney general of New York, denied allegations of fraud in connection with the bank’s merger with Merrill Lynch. Read more..

By DEALBOOK - The New York Times

Blankfein Sells Park Avenue Duplex

Lloyd C. Blankfein, head of Goldman Sachs, has had to cope with a soft real estate market like everybody else. He has finally sold his Park Avenue duplex for $12 million to Bryce and Elisabeth Markus, after initially listing it for $15 million Read more..

By DEALBOOK - The New York Times

Citic and China Merchants Send Funds to Hong Kong

Citic Securities and China Merchants Securities are injecting money into their Hong Kong units as China prepares to allow more foreign investment in its stock and debt markets. Read more..

By DEALBOOK - The New York Times

Editorial: Foreclosures Grind On

The Obama administration will need to do more in order to help Americans hold on to their homes. Read more..

By DEALBOOK - The New York Times

Fatalities on the Job Fell in 2009

A union official said the numbers might not be reliable because budget constraints might have delayed data reports from state agencies. Read more..


G.M. Chief Sees I.P.O. as Exit Sign

Edward E. Whitacre Jr. has looked forward to the day the carmaker would no longer be under government ownership, but thinks a public offering requires a long-term leader. Read more..

By DEALBOOK - The New York Times

K.N.O.C. Makes $2.9 Billion Bid for Dana

Korea National Oil Corp. made its hostile bid for Dana Petroleum public on Friday, offering £1.87 billion cash to the holders of Dana shares and convertible bonds. Read more..

By CHRIS V. NICHOLSON - The New York Times

Krugman: Appeasing the Bond Gods

The policy elite are making a strange argument in demanding that we engage in human sacrifices to appease the anger of invisible gods. Read more..

By DEALBOOK - The New York Times

Markets Fall as Jobless Filings Rise

New applications for unemployment insurance reached a half million last week, pointing to a job market that is struggling. Read more..

By CHRISTINE HAUSER - The New York Times

Vice Fund Reaps the Wages of, Well, Sin

Crime may not pay, but vice does. Jeff Middleswart’s Vice Fund, a mutual fund that invests in companies profiting from vices like smoking, drinking and gambling, is beating the house in a down market. Read more..

By DEALBOOK - The New York Times

Stock Markets

Values are reported in US Dollars

StockTicker symbolOpenHighLowCloseVolume
General ElectricGE15,1815,1814,8915,0365.4M
Cisco SystemsCSCO22,1922,4122,1322,2354.7M
Wells Fargo & Co.WFC24,4324,7124,2724,6040M
HP Inc.HPQ40,4940,5939,3339,8538.9M
AT&T Inc.T26,8026,8826,3326,4535.6M
JPMorgan ChaseJPM37,1137,3636,8137,1430.9M
Oracle Corp.ORCL22,9523,0822,7723,0222M
Bristol-Myers SquibbBMY26,3126,5426,0826,4418.1M
Verizon CommunicationsVZ29,4329,6029,1429,3717.3M
Abbott LaboratoriesABT49,0449,4348,9349,3413.4M
Gilead SciencesGILD33,0833,1232,4132,6412.9M
Home DepotHD28,0828,3227,8928,1712.4M
Procter & GamblePG59,9460,1759,6759,9812.1M
Wal-Mart StoresWMT50,1750,4750,0350,2211.7M
Johnson & JohnsonJNJ58,7058,9158,4958,7411.3M
Walt Disney & Co.DIS33,0033,2032,7133,058.63M
International Business MachinesIBM128,72128,98126,96127,506.25M
Berkshire HathawayBRK.B76,8578,1576,8577,735.4M
UnitedHealth GroupUNH31,7531,8331,3931,615.33M
United TechnologiesUTX67,5568,7067,4168,123.82M
Union PacificUNP73,7274,3672,9174,262.75M
Exchange Rates of August 20th, 2010
CurrenciesExchange Rates
US DollarJapanese Yen1 USD = 85,560 JPY1 JPY = 0,012 USD
US DollarCanadian Dollar1 USD = 1,046 CAD1 CAD = 0,956 USD
US DollarSwiss Franc1 USD = 1,034 CHF1 CHF = 0,968 USD
US DollarChinese Yuan1 USD = 6,791 CNY1 CNY = 0,147 USD
EuroJapanese Yen1 EUR = 108,760 JPY1 JPY = 0,009 EUR
EuroPound Sterling1 EUR = 0,818 GBP1 GBP = 1,222 EUR
EuroAustralian Dollar1 EUR = 1,421 AUD1 AUD = 0,704 EUR
EuroCanadian Dollar1 EUR = 1,330 CAD1 CAD = 0,752 EUR
EuroSwiss Franc1 EUR = 1,314 CHF1 CHF = 0,761 EUR
EuroChinese Yuan1 EUR = 8,629 CNY1 CNY = 0,116 EUR
Japanese YenPound Sterling1 JPY = 0,752 GBP1 GBP = 1,330 JPY
Japanese YenAustralian Dollar1 JPY = 1,306 AUD1 AUD = 0,766 JPY
Japanese YenCanadian Dollar1 JPY = 1,223 CAD1 CAD = 0,818 JPY
Japanese YenSwiss Franc1 JPY = 1,207 CHF1 CHF = 0,828 JPY
Pound SterlingAustralian Dollar1 GBP = 1,738 AUD1 AUD = 0,575 GBP
Pound SterlingCanadian Dollar1 GBP = 1,626 CAD1 CAD = 0,615 GBP
Pound SterlingSwiss Franc1 GBP = 1,606 CHF1 CHF = 0,623 GBP
Pound SterlingChinese Yuan1 GBP = 10,539 CNY1 CNY = 0,095 GBP
Australian DollarCanadian Dollar1 AUD = 0,934 CAD1 CAD = 1,070 AUD
Australian DollarSwiss Franc1 AUD = 0,924 CHF1 CHF = 1,082 AUD
Australian DollarChinese Yuan1 AUD = 6,068 CNY1 CNY = 0,165 AUD
Canadian DollarSwiss Franc1 CAD = 0,984 CHF1 CHF = 1,016 CAD
Canadian DollarChinese Yuan1 CAD = 6,487 CNY1 CNY = 0,154 CAD
Swiss FrancChinese Yuan1 CHF = 6,566 CNY1 CNY = 0,152 CHF

See what else happened on August 20th, 2010