Financial news on October 23rd, 2007

Business and Financial news
Ailing Firm Gets Tonic From China

Although Bear Stearns investors want to see the firm increase its international exposure, there is uncertainty as to whether the Citic deal will contribute to earnings. Read more..

By LANDON THOMAS Jr - The New York Times

AT&T Profit Up 42% on Wireless Gains

The company also benefited from Apple’s strong sales of the iPhone, for which AT&T is the sole carrier. Read more..

By LAURIE J. FLYNN - The New York Times

Bad Enough Being Shoeless but Just Look at This Décor

Even though we spend about $5 billion a year on airport security, why do airport checkpoints still look like garage sales? Read more..

By JOE SHARKEY - The New York Times

Britain: Troubled Assets to Be Acquired

The Royal Bank of Scotland Group is setting up a fund that will buy the assets of Cheyne Finance, a structured investment vehicle that defaulted last week. Read more..

By BLOOMBERG NEWS - The New York Times

Chrysler Deal in Question as Several Locals Vote No

Workers at all four big assembly plants where voting has taken place have rejected the contract, but the agreement still has a good chance of ratification. Read more..


How Apple Can Keep Its Value

With a market value of $162 billion, Apple is now the most valuable computer maker in the world, and it is the fourth most valuable technology company, after Microsoft, Google and Cisco. It will have to battle all of them to stay on top of the tech world. Read more..

By SAUL HANSELL - The New York Times

Japan: Wal-Mart to Take Over a Chain

Wal-Mart will pay up to 100 billion yen ($876 million) to take full control of Seiyu after a five-year investment failed to return the Japanese chain to profit. Read more..

By BLOOMBERG NEWS - The New York Times

Porsche Seen Likely to Realize VW Merger

The European Court of Justice is expected to strike down the so-called Volkswagen Law, created by Germany’s government to protect the automaker from an unwanted takeover. Read more..

By MARK LANDLER - The New York Times

Provision Is Waived in Sallie Mae Merger Case, but Underlying Dispute Remains

Sallie Mae’s would-be buyers say the merger contract allows them to terminate the deal due to recent changes in student lending, which have reduced its potential for future earnings. Read more..

By RITA K. FARRELL - The New York Times

Times Co. Earnings Top Expectations

Bolstered by lower costs for newsprint and strong entertainment and fashion advertising, The New York Times Company reported a 7 percent increase in net income. Read more..

By RICHARD PÉREZ-PEÑA - The New York Times

Stock Markets

Values are reported in US Dollars

StockTicker symbolOpenHighLowCloseVolume
Cisco SystemsCSCO31,3531,5830,0931,5450.3M
Wal-Mart StoresWMT45,2545,5843,5043,9338.1M
Oracle Corp.ORCL21,4021,4921,1221,4530.1M
AT&T Inc.T41,5042,1541,2142,0227.7M
General ElectricGE40,2640,5940,0240,4826.9M
Home DepotHD31,2031,2030,4030,9216.4M
Bristol-Myers SquibbBMY28,9629,1728,2728,5415.2M
Wells Fargo & Co.WFC34,1034,1733,5033,7613.8M
JPMorgan ChaseJPM45,9245,9945,1345,9413.5M
Verizon CommunicationsVZ44,3744,9344,2544,8110.7M
HP Inc.HPQ51,7852,0051,0351,869.7M
Abbott LaboratoriesABT50,7752,3550,7751,828.74M
Johnson & JohnsonJNJ64,4064,6063,9664,557.73M
Procter & GamblePG71,1771,3670,6471,267.7M
Gilead SciencesGILD42,6143,3142,2943,026.6M
UnitedHealth GroupUNH48,1849,1448,1548,846.57M
Walt Disney & Co.DIS34,8234,9634,5834,896.38M
International Business MachinesIBM113,78114,80113,50114,685.56M
United TechnologiesUTX76,4576,6075,4276,024.09M
Union PacificUNP126,99130,00126,99129,963.7M
Berkshire HathawayBRK.B4213,004268,004213,004256,0015.2K
Exchange Rates of October 23rd, 2007
CurrenciesExchange Rates
US DollarJapanese Yen1 USD = 114,690 JPY1 JPY = 0,009 USD
US DollarCanadian Dollar1 USD = 0,966 CAD1 CAD = 1,036 USD
US DollarSwiss Franc1 USD = 1,173 CHF1 CHF = 0,853 USD
US DollarChinese Yuan1 USD = 7,502 CNY1 CNY = 0,133 USD
EuroJapanese Yen1 EUR = 163,560 JPY1 JPY = 0,006 EUR
EuroPound Sterling1 EUR = 0,695 GBP1 GBP = 1,438 EUR
EuroAustralian Dollar1 EUR = 1,588 AUD1 AUD = 0,630 EUR
EuroCanadian Dollar1 EUR = 1,377 CAD1 CAD = 0,726 EUR
EuroSwiss Franc1 EUR = 1,673 CHF1 CHF = 0,598 EUR
Japanese YenPound Sterling1 JPY = 0,425 GBP1 GBP = 2,353 JPY
Japanese YenAustralian Dollar1 JPY = 0,970 AUD1 AUD = 1,031 JPY
Japanese YenCanadian Dollar1 JPY = 0,841 CAD1 CAD = 1,188 JPY
Japanese YenSwiss Franc1 JPY = 1,022 CHF1 CHF = 0,978 JPY
Pound SterlingAustralian Dollar1 GBP = 2,284 AUD1 AUD = 0,438 GBP
Pound SterlingCanadian Dollar1 GBP = 1,980 CAD1 CAD = 0,505 GBP
Pound SterlingSwiss Franc1 GBP = 2,405 CHF1 CHF = 0,416 GBP
Australian DollarCanadian Dollar1 AUD = 0,867 CAD1 CAD = 1,154 AUD
Australian DollarSwiss Franc1 AUD = 1,053 CHF1 CHF = 0,950 AUD
Canadian DollarSwiss Franc1 CAD = 1,214 CHF1 CHF = 0,824 CAD

See what else happened on October 23rd, 2007