Financial news on August 23rd, 2010

Business and Financial news
Australia Steps Up Renewable Energy Efforts

Sustainable energy now supplies just 6 percent of power in Australia, but the country has set a target of 20 percent by 2020. Read more..

By MICHAEL PERRY - International Herald Tribune

Big Banks Still Threaten Small Ones, Fed Official Says

The president of the Federal Reserve Bank of Kansas City warned that recently enacted financial regulations might not end market perceptions that taxpayers would rescue the largest banks. Read more..

By DEALBOOK - The New York Times

Deutsche Starts Dark Pool in Hong Kong

Deutsche Bank started dark-pool trading in Hong Kong on Monday, the German lender’s first such platform in Asia. Read more..

By DEALBOOK - The New York Times

In Striking Shift, Small Investors Flee Stocks

Investors withdrew a staggering $33.12 billion from domestic stock market mutual funds in the first seven months of this year. Now many are choosing investments they deem safer, like bonds. Read more..

By DEALBOOK - The New York Times

In the Living Room, Hooked on Pay TV

Despite the proliferation of Internet video, few Americans are actually canceling pay TV and watching shows online. Read more..


MF Global to Venture Into Money Management

MF Global is poised to enter money management and investment banking, the brokerage firm’s new boss was quoted as saying by The Financial Times on Monday. Read more..

By DEALBOOK - The New York Times

Playing Up the Sporty Side of a Honda Hybrid Coupe

A new campaign tries to break through the ad clutter, the struggling economy and an overly benign image to reach men ages 25 to 35. Read more..

By STUART ELLIOTT - The New York Times

SABMiller and Asahi Eye Foster’s Beer

SABMiller and Asahi Breweries, the beverage companies, are looking at Foster’s Group’s beer operations, valued at more than $10 billion, but have not yet made any formal offers, sources said. Read more..

By DEALBOOK - The New York Times

Scrutiny for Chinese Telecom Bid

Eight Republican lawmakers have asked the Obama administration to study Huawei and its bid to supply equipment to Sprint Nextel. Read more..

By DAVID BARBOZA - The New York Times

TPG to Raise $736 Million for Its First Renminbi Fund

For its first renminbi-denominated private equity fund, TPG Capital will raise $736.3 million in the next several months, The Wall Street Journal reported. Read more..

By DEALBOOK - The New York Times

Stock Markets

Values are reported in US Dollars

StockTicker symbolOpenHighLowCloseVolume
General ElectricGE15.2215.2714.8514.8955.6M
Cisco SystemsCSCO22.4722.4821.6521.6849.3M
HP Inc.HPQ39.9440.0038.6139.0437.4M
AT&T Inc.T26.5926.7926.4826.4933.9M
Wells Fargo & Co.WFC24.8624.8824.1924.2333.8M
JPMorgan ChaseJPM37.2137.4136.8436.8829.3M
Verizon CommunicationsVZ29.5329.6629.3829.4120M
Oracle Corp.ORCL23.0623.3022.8322.8418.3M
Abbott LaboratoriesABT49.5550.1849.5549.7815M
Wal-Mart StoresWMT50.5751.5050.3951.1414.7M
Bristol-Myers SquibbBMY26.4826.7626.3826.4812.1M
Home DepotHD28.5628.6427.8027.8311.4M
Gilead SciencesGILD32.9533.1232.7932.859.65M
Johnson & JohnsonJNJ58.9859.3558.8158.878.84M
Procter & GamblePG60.0160.3959.8660.038.47M
Walt Disney & Co.DIS33.2333.5532.8032.938.05M
UnitedHealth GroupUNH31.6332.1731.4731.505.08M
International Business MachinesIBM127.57128.03126.44126.474.03M
United TechnologiesUTX68.5468.9767.2167.223.96M
Berkshire HathawayBRK.B77.8878.0577.2177.233M
Union PacificUNP74.5474.8972.6972.862.81M
Exchange Rates of August 23rd, 2010
CurrenciesExchange Rates
US DollarJapanese Yen1 USD = 85.100 JPY1 JPY = 0.012 USD
US DollarCanadian Dollar1 USD = 1.051 CAD1 CAD = 0.951 USD
US DollarSwiss Franc1 USD = 1.041 CHF1 CHF = 0.961 USD
US DollarChinese Yuan1 USD = 6.801 CNY1 CNY = 0.147 USD
EuroJapanese Yen1 EUR = 107.620 JPY1 JPY = 0.009 EUR
EuroPound Sterling1 EUR = 0.816 GBP1 GBP = 1.226 EUR
EuroAustralian Dollar1 EUR = 1.420 AUD1 AUD = 0.704 EUR
EuroCanadian Dollar1 EUR = 1.330 CAD1 CAD = 0.752 EUR
EuroSwiss Franc1 EUR = 1.317 CHF1 CHF = 0.759 EUR
EuroChinese Yuan1 EUR = 8.601 CNY1 CNY = 0.116 EUR
Japanese YenPound Sterling1 JPY = 0.758 GBP1 GBP = 1.320 JPY
Japanese YenAustralian Dollar1 JPY = 1.319 AUD1 AUD = 0.758 JPY
Japanese YenCanadian Dollar1 JPY = 1.235 CAD1 CAD = 0.810 JPY
Japanese YenSwiss Franc1 JPY = 1.223 CHF1 CHF = 0.818 JPY
Pound SterlingAustralian Dollar1 GBP = 1.740 AUD1 AUD = 0.575 GBP
Pound SterlingCanadian Dollar1 GBP = 1.630 CAD1 CAD = 0.614 GBP
Pound SterlingSwiss Franc1 GBP = 1.614 CHF1 CHF = 0.620 GBP
Pound SterlingChinese Yuan1 GBP = 10.530 CNY1 CNY = 0.095 GBP
Australian DollarCanadian Dollar1 AUD = 0.936 CAD1 CAD = 1.068 AUD
Australian DollarSwiss Franc1 AUD = 0.927 CHF1 CHF = 1.078 AUD
Australian DollarChinese Yuan1 AUD = 6.058 CNY1 CNY = 0.165 AUD
Canadian DollarSwiss Franc1 CAD = 0.990 CHF1 CHF = 1.010 CAD
Canadian DollarChinese Yuan1 CAD = 6.465 CNY1 CNY = 0.155 CAD
Swiss FrancChinese Yuan1 CHF = 6.528 CNY1 CNY = 0.153 CHF

See what else happened on August 23rd, 2010