Financial news on October 20th, 2006

Business and Financial news
Divergent 3rd Quarters for 2 Giants in Banking

Citigroup stumbled while Bank of America strut as the country’s two biggest banks contended with a slowing economy and higher interest rates. Read more..

By ERIC DASH - The New York Times

Facing a Big Quarterly Loss, Chrysler Moves to Cut Costs

Chrysler is pushing to cut at least $1,000 a vehicle from its costs in an effort to return to profitability as soon as possible. Read more..


Jackson Announces Plan to Help Small Businesses

The Rev. Jesse Jackson’s will introduce an institute to teach entrepreneurship skills to teenagers, immigrants and minorities. Read more..

By CLAUDIA H. DEUTSCH - The New York Times

Kidney Dialysis Center Deal With Amgen Blocks Roche

Amgen reached an agreement that will make it the sole supplier of an anemia drug to a main operator of kidney dialysis centers. Read more..

By ANDREW POLLACK - The New York Times

Ministry’s Medical Program Is Not Regulated

Medical bill-sharing ministries are competing more and more with businesses that are not eligible for breaks. Read more..

By DIANA B. HENRIQUES - The New York Times

NBC Tries a New Tack for 8 P.M.

Next fall, NBC will fill its 8 p.m. hour with lower-cost shows and save its more expensive programming for the 9-to-11 p.m. block. Read more..

By BILL CARTER - The New York Times

OPEC Cuts Production 4% to Prop Up Prices

OPEC producers sought to reassert their grip on falling oil markets by cutting production and suggested more reductions could follow. Read more..

By HASSAN M. FATTAH and JAD MOUAWAD - The New York Times

Overseas Sales Lift Coca-Cola

Coca-Cola said its net income rose 14 percent on increased beverage sales in China and in Europe during the World Cup tournament. Read more..

By BLOOMBERG NEWS - The New York Times

Pfizer and Other Drug Makers Report Higher Profits

Drug makers posted strong gains, led by Pfizer which reported that its earnings had more than doubled from a year earlier. Read more..

By ALEX BERENSON - The New York Times

Reverberations of a Chicago Merger

European competitors say an $8 billion combination of Chicago’s derivative markets might be monopolistic. Read more..

By HEATHER TIMMONS - The New York Times

Stock Markets

Values are reported in US Dollars

StockTicker symbolOpenHighLowCloseVolume
Cisco SystemsCSCO24.2024.5823.9524.5548.1M
General ElectricGE35.4035.5835.2635.4727.3M
AT&T Inc.T33.9834.7633.5034.4425.9M
Oracle Corp.ORCL18.9519.0218.6818.9823.5M
Wal-Mart StoresWMT48.7349.7348.6549.3719M
Verizon CommunicationsVZ37.3837.8537.1037.8017.2M
Abbott LaboratoriesABT48.1548.8847.7248.7814.9M
UnitedHealth GroupUNH50.8551.4550.5850.7012.1M
Johnson & JohnsonJNJ68.4069.1468.2768.6212.1M
HP Inc.HPQ39.6539.7239.0139.3811.6M
Home DepotHD35.9836.0735.5535.9911.2M
Wells Fargo & Co.WFC36.9136.9936.4936.6311M
JPMorgan ChaseJPM46.8847.1346.5447.1211M
Walt Disney & Co.DIS31.7531.7931.3731.458.25M
Bristol-Myers SquibbBMY24.6424.6924.1824.498.08M
Procter & GamblePG62.7362.8862.1562.688M
International Business MachinesIBM90.0490.7089.5590.487.39M
Gilead SciencesGILD68.6269.0067.7668.994.92M
United TechnologiesUTX65.4965.4964.5565.024.22M
Union PacificUNP91.6491.8190.1490.831.63M
Berkshire HathawayBRK.B3329.003329.003307.003328.0010.8K
Exchange Rates of October 20th, 2006
CurrenciesExchange Rates
US DollarJapanese Yen1 USD = 118.700 JPY1 JPY = 0.008 USD
US DollarCanadian Dollar1 USD = 1.125 CAD1 CAD = 0.889 USD
US DollarSwiss Franc1 USD = 1.259 CHF1 CHF = 0.794 USD
US DollarChinese Yuan1 USD = 7.905 CNY1 CNY = 0.127 USD
EuroJapanese Yen1 EUR = 149.740 JPY1 JPY = 0.007 EUR
EuroPound Sterling1 EUR = 0.670 GBP1 GBP = 1.493 EUR
EuroAustralian Dollar1 EUR = 1.663 AUD1 AUD = 0.601 EUR
EuroCanadian Dollar1 EUR = 1.420 CAD1 CAD = 0.704 EUR
EuroSwiss Franc1 EUR = 1.588 CHF1 CHF = 0.630 EUR
Japanese YenPound Sterling1 JPY = 0.447 GBP1 GBP = 2.237 JPY
Japanese YenAustralian Dollar1 JPY = 1.110 AUD1 AUD = 0.901 JPY
Japanese YenCanadian Dollar1 JPY = 0.948 CAD1 CAD = 1.055 JPY
Japanese YenSwiss Franc1 JPY = 1.061 CHF1 CHF = 0.943 JPY
Pound SterlingAustralian Dollar1 GBP = 2.483 AUD1 AUD = 0.403 GBP
Pound SterlingCanadian Dollar1 GBP = 2.120 CAD1 CAD = 0.472 GBP
Pound SterlingSwiss Franc1 GBP = 2.371 CHF1 CHF = 0.422 GBP
Australian DollarCanadian Dollar1 AUD = 0.853 CAD1 CAD = 1.172 AUD
Australian DollarSwiss Franc1 AUD = 0.954 CHF1 CHF = 1.048 AUD
Canadian DollarSwiss Franc1 CAD = 1.118 CHF1 CHF = 0.894 CAD

See what else happened on October 20th, 2006