Financial news on May 21, 2010

Business and Financial news
Asian Stocks Drop Sharply After Big Fall in U.S.

Fears that the fragile economic recovery in the United States might be threatened by the financial and political crisis in Europe gripped Wall Street on Thursday, sending the stock market into a sharp decline and leaving anxious traders wondering where the pain might stop. Read more..

By DEALBOOK - The New York Times

Figures Suggest Japan’s Recovery Is Gaining Strength

The Japanese economy grew at a healthy clip of 1.2 percent in the first quarter, hinting that Japan’s recovery is finally gathering momentum. Read more..

By HIROKO TABUCHI - International Herald Tribune

German Parliament Approves $1 Trillion Rescue

The German parliament, the Bundestag, voted Friday to approve the 750 billion euro rescue package that was proposed by the European Union and the International Monetary Fund last week. Read more..

By CHRIS V. NICHOLSON - The New York Times

Goldman Chief Regrets Leveraged Transactions

Lloyd C. Blankfein, chief executive of Goldman Sachs, regrets the bank’s participation in the leverage rush that marked the go-go days of the buyout boom, he said in an interview with India’s Economic Times. Read more..

By DEALBOOK - The New York Times

John Burton, a Columbia Dean, Dies at 77

Mr. Burton was a Columbia University administrator who also was an accountant and a public servant in Washington and New York. Read more..

By BRUCE WEBER - The New York Times

Morning Take-Out

Nothing but big votes in the last 24 hours — first in the Senate, then in the German Bundestag — and they all signal that proposals are moving forward, even if critics on both sides of the Atlantic might snipe that neither the financial reform bill nor the euro zone rescue goes far enough. Read more..

By DEALBOOK - The New York Times

Obama to Mandate Rules to Raise Fuel Standards

New rules to be ordered by President Obama seek to create an aggressive national policy requiring cars and trucks to get better gas mileage with fewer pollutants. Read more..

By PETER BAKER - The New York Times

Spitzer’s Name Arises as CNN Tries to Fill a Seat

The former governor of New York has contributed commentary on CNN and been a fill-in anchor on MSNBC, feeding speculation that he might land a permanent TV job. Read more..

By BRIAN STELTER - The New York Times

Toyota and Tesla to Partner on Electric Cars

Tesla Motors and Toyota Motor announced on Thursday that Tesla had bought the recently closed Nummi assembly plant in Fremont, Calif., where it intends to make its Model S luxury electric sedan and other future models. Read more..

By DEALBOOK - The New York Times

Treasury Hires Lazard to Advise on a G.M. I.P.O.

The Treasury Department has hired Lazard to advise on a potential initial public offering of the government’s stake in General Motors. Read more..

By MICHAEL J. DE LA MERCED - The New York Times

Stock Markets

Values are reported in US Dollars

StockTicker symbolOpenHighLowCloseVolume
General ElectricGE15,7016,4315,6516,42146M
JPMorgan ChaseJPM37,0240,1637,0240,0589.6M
Wells Fargo & Co.WFC28,0530,3028,0530,1188.2M
Cisco SystemsCSCO22,6723,5122,5623,4688.2M
Oracle Corp.ORCL21,6222,3621,5522,1663.1M
AT&T Inc.T24,3624,8724,3624,8554.3M
Verizon CommunicationsVZ27,3727,9827,3227,9637.2M
Home DepotHD32,2633,4832,2533,0236M
Abbott LaboratoriesABT45,4846,9845,2646,9434.5M
HP Inc.HPQ44,9646,8144,8046,5827.8M
Wal-Mart StoresWMT50,7351,3750,5151,3724.5M
Procter & GamblePG60,4061,8860,3761,8523.2M
Johnson & JohnsonJNJ59,7860,9659,5160,8821.8M
Walt Disney & Co.DIS31,4032,8731,4032,8720.1M
Gilead SciencesGILD36,3837,1836,0936,5719.3M
Bristol-Myers SquibbBMY22,9023,0522,5022,9617.8M
International Business MachinesIBM122,16125,61121,40125,4212.6M
UnitedHealth GroupUNH28,5429,0728,1628,7011.5M
Berkshire HathawayBRK.B71,1473,2570,0073,0110.9M
United TechnologiesUTX64,5867,1164,5866,4410.6M
Union PacificUNP65,9970,3365,9969,756.79M
Exchange Rates of May 21, 2010
CurrenciesExchange Rates
US DollarJapanese Yen1 USD = 90,000 JPY1 JPY = 0,011 USD
US DollarCanadian Dollar1 USD = 1,059 CAD1 CAD = 0,944 USD
US DollarSwiss Franc1 USD = 1,149 CHF1 CHF = 0,870 USD
US DollarChinese Yuan1 USD = 6,827 CNY1 CNY = 0,146 USD
EuroJapanese Yen1 EUR = 113,140 JPY1 JPY = 0,009 EUR
EuroPound Sterling1 EUR = 0,869 GBP1 GBP = 1,150 EUR
EuroAustralian Dollar1 EUR = 1,509 AUD1 AUD = 0,663 EUR
EuroCanadian Dollar1 EUR = 1,331 CAD1 CAD = 0,751 EUR
EuroSwiss Franc1 EUR = 1,445 CHF1 CHF = 0,692 EUR
EuroChinese Yuan1 EUR = 8,583 CNY1 CNY = 0,117 EUR
Japanese YenPound Sterling1 JPY = 0,768 GBP1 GBP = 1,303 JPY
Japanese YenAustralian Dollar1 JPY = 1,334 AUD1 AUD = 0,750 JPY
Japanese YenCanadian Dollar1 JPY = 1,176 CAD1 CAD = 0,851 JPY
Japanese YenSwiss Franc1 JPY = 1,276 CHF1 CHF = 0,784 JPY
Pound SterlingAustralian Dollar1 GBP = 1,735 AUD1 AUD = 0,576 GBP
Pound SterlingCanadian Dollar1 GBP = 1,531 CAD1 CAD = 0,653 GBP
Pound SterlingSwiss Franc1 GBP = 1,662 CHF1 CHF = 0,602 GBP
Pound SterlingChinese Yuan1 GBP = 9,866 CNY1 CNY = 0,101 GBP
Australian DollarCanadian Dollar1 AUD = 0,882 CAD1 CAD = 1,134 AUD
Australian DollarSwiss Franc1 AUD = 0,956 CHF1 CHF = 1,046 AUD
Australian DollarChinese Yuan1 AUD = 5,688 CNY1 CNY = 0,176 AUD
Canadian DollarSwiss Franc1 CAD = 1,085 CHF1 CHF = 0,922 CAD
Canadian DollarChinese Yuan1 CAD = 6,443 CNY1 CNY = 0,155 CAD
Swiss FrancChinese Yuan1 CHF = 5,937 CNY1 CNY = 0,168 CHF

See what else happened on May 21, 2010