Financial news on January 23rd, 2007

Business and Financial news
Acquisition Ban Lifted at Career Education

The Career Education Corporation said that the Education Department lifted a ban imposed in June 2005 that limited acquisitions and expansion. Read more..

By BLOOMBERG NEWS - The New York Times

Allied Is Asked to Remove Management

Greenlight Capital, the hedge fund, asked the Allied Capital Corporation in a letter yesterday to replace senior managers after the indictment of an executive at an affiliated company. Read more..

By BLOOMBERG NEWS - The New York Times

A Yankee Chef With a Mexican Flavor

Sure, Americans traveling abroad expect to be treated like pariahs these days. But I get more than my fair share because I’m the ultimate outsider: a Yankee who prepares Mexican food. Read more..

By SCOTT LINDQUIST, as told to Christopher Elliott - The New York Times

Europe Encouraging Clean Energy Industry

A commitment by European governments to help out “clean energy” entrepreneurs is creating a more welcoming environment than America. Read more..

By JAMES KANTER - The New York Times

Italy: French Bank Reduces a Stake

Crédit Agricole, the French bank, sold a 3.6 percent stake in Intesa Sanpaolo for 2.51 billion euros ($3.23 billion), complying with a requirement by Italy’s antitrust authority. After the sale, Crédit Agricole, which is based in Paris, still has ... Read more..

By BLOOMBERG NEWS - The New York Times

Partial Bailout Offered in Book Bankruptcy

Small publishers left reeling by the major book wholesaler Advanced Marketing Services’ bankruptcy filing last month received a rare bit of good news yesterday. Read more..

By JULIE BOSMAN - The New York Times

Restatement by Take-Two Over Problems With Options

Take-Two Interactive Software, maker of the Grand Theft Auto video games, said yesterday that it let its former chief executive, Ryan A. Brant, “control and dominate” improper options backdating that began when the company went public ... Read more..

By BLOOMBERG NEWS - The New York Times

Shutting Doors Where a Drug-Making Giant Began

Pfizer is phasing out its manufacturing plant in Brooklyn, on the same Flushing Avenue site where the company was founded in 1849. Read more..

By ANN FARMER and NICK BUNKLEY - The New York Times

Switzerland: Bank Plans a Share Buyback

The Credit Suisse Group, the Swiss bank, will use proceeds from the sale of its Winterthur insurance unit to buy back a record amount of stock and make money-management acquisitions. The bank plans to repurchase as much as 8 billion francs ($6.4 b... Read more..

By BLOOMBERG NEWS - The New York Times

Tapping the Stuff Dreams Are Made Of

The Academy of Motion Picture Arts and Sciences and its TV partner, ABC, are scheduled to start their annual campaigns to encourage viewers to watch the Oscars. Read more..

By STUART ELLIOTT - The New York Times

Stock Markets

Values are reported in US Dollars

StockTicker symbolOpenHighLowCloseVolume
Cisco SystemsCSCO26.3726.7226.0326.0467.7M
General ElectricGE36.7036.7436.3836.5535.1M
Oracle Corp.ORCL17.0117.3117.0117.1233.1M
AT&T Inc.T35.1435.7434.9935.3617.8M
Abbott LaboratoriesABT53.1053.5553.0053.3816.2M
Verizon CommunicationsVZ37.3637.9537.3137.4914.3M
JPMorgan ChaseJPM49.6049.8649.2849.8312.8M
Home DepotHD40.0340.6140.0040.4311.4M
Walt Disney & Co.DIS35.0235.6435.0035.5811.3M
Wal-Mart StoresWMT47.7848.1547.4647.8111.3M
HP Inc.HPQ41.9942.6341.8042.3110.9M
International Business MachinesIBM96.9197.3896.2097.0810.3M
Johnson & JohnsonJNJ66.9967.2466.1366.509.7M
Wells Fargo & Co.WFC35.8036.0535.5636.018.46M
United TechnologiesUTX65.2066.7365.0066.148.12M
UnitedHealth GroupUNH52.2052.4551.4051.477.64M
Procter & GamblePG66.0066.0065.2965.645.76M
Bristol-Myers SquibbBMY26.5426.8526.4126.675.43M
Union PacificUNP94.1099.0993.9298.224.72M
Gilead SciencesGILD64.2664.6463.4563.843.4M
Berkshire HathawayBRK.B3640.003640.003615.503624.0014.4K
Exchange Rates of January 23rd, 2007
CurrenciesExchange Rates
US DollarJapanese Yen1 USD = 121.650 JPY1 JPY = 0.008 USD
US DollarCanadian Dollar1 USD = 1.180 CAD1 CAD = 0.847 USD
US DollarSwiss Franc1 USD = 1.242 CHF1 CHF = 0.805 USD
US DollarChinese Yuan1 USD = 7.777 CNY1 CNY = 0.129 USD
EuroJapanese Yen1 EUR = 158.460 JPY1 JPY = 0.006 EUR
EuroPound Sterling1 EUR = 0.657 GBP1 GBP = 1.521 EUR
EuroAustralian Dollar1 EUR = 1.643 AUD1 AUD = 0.609 EUR
EuroCanadian Dollar1 EUR = 1.538 CAD1 CAD = 0.650 EUR
EuroSwiss Franc1 EUR = 1.618 CHF1 CHF = 0.618 EUR
Japanese YenPound Sterling1 JPY = 0.415 GBP1 GBP = 2.413 JPY
Japanese YenAustralian Dollar1 JPY = 1.036 AUD1 AUD = 0.965 JPY
Japanese YenCanadian Dollar1 JPY = 0.970 CAD1 CAD = 1.031 JPY
Japanese YenSwiss Franc1 JPY = 1.021 CHF1 CHF = 0.979 JPY
Pound SterlingAustralian Dollar1 GBP = 2.499 AUD1 AUD = 0.400 GBP
Pound SterlingCanadian Dollar1 GBP = 2.339 CAD1 CAD = 0.428 GBP
Pound SterlingSwiss Franc1 GBP = 2.461 CHF1 CHF = 0.406 GBP
Australian DollarCanadian Dollar1 AUD = 0.935 CAD1 CAD = 1.069 AUD
Australian DollarSwiss Franc1 AUD = 0.984 CHF1 CHF = 1.016 AUD
Canadian DollarSwiss Franc1 CAD = 1.052 CHF1 CHF = 0.950 CAD

See what else happened on January 23rd, 2007