Financial news on July 22nd, 2010

Business and Financial news
4 Oil Firms Commit $1 Billion for Gulf Rapid-Response Plan

Four large oil companies are committing $1 billion to set up a system to deal with oil spills in the Gulf of Mexico. Read more..

By JAD MOUAWAD - The New York Times

Camelot Shares Fall in Debut

Shares of Camelot Information Systems fell 3 percent their market debut Wednesday, after pricing its initial public offering at the bottom of its expected range. Read more..

By DEALBOOK - The New York Times

Copano Energy Taps TPG for $300 Million

TPG Capital is investing $300 million in natural gas company Copano Energy, which it will use to fund shale gas production developments, Reuters reported. Read more..

By DEALBOOK - The New York Times

Dispiriting Data Before Stress Test Results

The governments and regulators of the European Union still have a lot of work in store to shore up the reputation of their banking systems, as data demonstrates that weaker members are leaning on the European Central Bank like never before, The Wall Street Journal reported. Read more..

By DEALBOOK - The New York Times

G4 Channel to Become 4G in a Week of Sprint Promotion

The change, which will last seven days, is intended to give visibility to Sprint Nextel’s next-generation wireless Internet service. Read more..

By BRIAN STELTER - The New York Times

Google Ventures Finances a Search Marketing Start-Up

Google, which makes the vast majority of its money selling search ads, said Wednesday that its venture capital arm has invested in Trada, a start-up that makes it easier for small businesses to buy those ads by crowdsourcing the work. Read more..

By DEALBOOK - The New York Times

Morgan’s Effort to Cut Risk Appears to Pay Off

Morgan Stanley’s post-crisis conversion to reducing risk finally seems to be paying off, Reuters Breakingviews says. Read more..

By DEALBOOK - The New York Times

New York Sues BofA and Merrill for Pension Losses

New York is suing Bank of America and its Merrill Lynch securities firm over the companies’ merger and Merrill’s subprime mortgage exposure. Read more..

By DEALBOOK - The New York Times

Terra-Gen Raises $1.2 Billion for Wind Farm

Terra-Gen Power, a major developer of wind, solar and geothermal energy projects in the United States, is $1.2 billion closer to building the country’s largest wind farm. Read more..

By DEALBOOK - The New York Times

Tiger Management May Look to Expand

Is Julian Robertson’s Tiger Management set to roar again? The hedge fund titan is reshuffling the ranks at his firm, which seeds hedge fund managers, with an eye to possibly expanding the business, according to press reports. Read more..

By DEALBOOK - The New York Times

Stock Markets

Values are reported in US Dollars

StockTicker symbolOpenHighLowCloseVolume
General ElectricGE15.0815.2914.9715.2164.3M
Cisco SystemsCSCO22.7323.3622.7323.2757.9M
Wells Fargo & Co.WFC26.6227.4926.5527.3953M
AT&T Inc.T25.3925.8325.3625.5148M
JPMorgan ChaseJPM38.9639.6038.7339.3535.5M
Oracle Corp.ORCL23.7224.4123.7024.3132.7M
Home DepotHD27.7128.4727.7128.2226.1M
Verizon CommunicationsVZ26.7227.1626.6927.0022.5M
Abbott LaboratoriesABT49.0249.5448.3649.0122.4M
Johnson & JohnsonJNJ57.4357.6256.8657.0218M
HP Inc.HPQ45.8346.1645.7346.0717.2M
Gilead SciencesGILD33.0333.8633.0233.7814.7M
Procter & GamblePG61.0661.9261.0161.3713M
Wal-Mart StoresWMT50.5551.0950.5150.8612M
Bristol-Myers SquibbBMY24.9625.2224.7524.9310.4M
Walt Disney & Co.DIS33.0933.7733.0533.599.98M
UnitedHealth GroupUNH31.0931.2030.6531.009.2M
Union PacificUNP71.4873.8470.5572.407.03M
International Business MachinesIBM126.32127.78126.05127.476.91M
Berkshire HathawayBRK.B77.4878.4677.2578.356.35M
United TechnologiesUTX68.0169.9168.0169.535.2M
Exchange Rates of July 22nd, 2010
CurrenciesExchange Rates
US DollarJapanese Yen1 USD = 87.020 JPY1 JPY = 0.011 USD
US DollarCanadian Dollar1 USD = 1.038 CAD1 CAD = 0.964 USD
US DollarSwiss Franc1 USD = 1.043 CHF1 CHF = 0.958 USD
US DollarChinese Yuan1 USD = 6.780 CNY1 CNY = 0.148 USD
EuroJapanese Yen1 EUR = 112.130 JPY1 JPY = 0.009 EUR
EuroPound Sterling1 EUR = 0.845 GBP1 GBP = 1.184 EUR
EuroAustralian Dollar1 EUR = 1.442 AUD1 AUD = 0.693 EUR
EuroCanadian Dollar1 EUR = 1.337 CAD1 CAD = 0.748 EUR
EuroSwiss Franc1 EUR = 1.344 CHF1 CHF = 0.744 EUR
EuroChinese Yuan1 EUR = 8.737 CNY1 CNY = 0.114 EUR
Japanese YenPound Sterling1 JPY = 0.753 GBP1 GBP = 1.328 JPY
Japanese YenAustralian Dollar1 JPY = 1.286 AUD1 AUD = 0.778 JPY
Japanese YenCanadian Dollar1 JPY = 1.192 CAD1 CAD = 0.839 JPY
Japanese YenSwiss Franc1 JPY = 1.199 CHF1 CHF = 0.834 JPY
Pound SterlingAustralian Dollar1 GBP = 1.708 AUD1 AUD = 0.586 GBP
Pound SterlingCanadian Dollar1 GBP = 1.583 CAD1 CAD = 0.632 GBP
Pound SterlingSwiss Franc1 GBP = 1.592 CHF1 CHF = 0.628 GBP
Pound SterlingChinese Yuan1 GBP = 10.331 CNY1 CNY = 0.097 GBP
Australian DollarCanadian Dollar1 AUD = 0.927 CAD1 CAD = 1.079 AUD
Australian DollarSwiss Franc1 AUD = 0.932 CHF1 CHF = 1.073 AUD
Australian DollarChinese Yuan1 AUD = 6.055 CNY1 CNY = 0.165 AUD
Canadian DollarSwiss Franc1 CAD = 1.005 CHF1 CHF = 0.995 CAD
Canadian DollarChinese Yuan1 CAD = 6.533 CNY1 CNY = 0.153 CAD
Swiss FrancChinese Yuan1 CHF = 6.498 CNY1 CNY = 0.154 CHF

See what else happened on July 22nd, 2010