Financial news on September 24th, 2010

Business and Financial news
Amid Tension, China Blocks Crucial Exports to Japan

Escalating a dispute over Japan’s detention of a Chinese fishing trawler captain, China halted exports of some crucial rare earth elements. Read more..

By KEITH BRADSHER - The New York Times

Banks Sitting Out Bond Surge as Lending Dries Up

Banks are sitting out the busiest September for corporate bond sales in a sign they may refrain from lending while the Federal Reserve considers how to jolt the economic recovery. Read more..

By DEALBOOK - The New York Times

Blockbuster, Hoping to Reinvent Itself, Files for Bankruptcy

The chain wants to rid itself of almost $1 billion in debt so it can respond more effectively to a growing number of rivals. Read more..

By MICHAEL J. de la MERCED - The New York Times

China Is Blocking Minerals, Executives Say

Some industry executives and analysts said that China had suspended the shipments in response to a diplomatic dispute over Japan’s detention of a Chinese fishing trawler captain. Read more..

By KEITH BRADSHER - The New York Times

For Pandit, $1 This Year, a Big Bump in 2011

Vikram S. Pandit will again take a $1 salary for 2010, but Citigroup says it will increase his compensation in 2011. Read more..

By ERIC DASH - The New York Times

Frederick Jelinek, Who Gave Machines the Key to Human Speech, Dies at 77

Mr. Jelinek unlocked human speech for computers by thinking like a computer. Read more..

By STEVE LOHR - The New York Times

Madoff Trustee Mistreating Victims, Lawmakers Say

Victims of Bernard L. Madoff’s $65 billion Ponzi scheme are not being treated fairly by the court-appointed trustee liquidator, Irving H. Picard, Republican Representative Pete King said Thursday: “They should be treated as victims, not as criminals.” Read more..

By DEALBOOK - The New York Times

Norris: Seeking to Protect Investors

Renewing the obligation for “best execution” of orders could help protect investors, Floyd Norris writes in his latest column in The New York Times. Read more..

By DEALBOOK - The New York Times

Oracle Isn’t Interested in Services Deals, Chief Says

Oracle’s chief executive, Larry Ellison, says his company won’t follow one of the technology world’s hottest trends: buying services companies. Read more..

By DEALBOOK - The New York Times

Rajaratnam: From Boastful Beginnings to Bail

Raj Rajaratnam is “a man of Falstaffian appetites and a craving for power,” Forbes writes, in a profile of the former billionaire hedge fund manager arrested last October and charged with running the largest insider-trading ring busted since the 1980s. Read more..

By DEALBOOK - The New York Times

Stock Markets

Values are reported in US Dollars

StockTicker symbolOpenHighLowCloseVolume
General ElectricGE16.3316.6616.3016.6685M
Oracle Corp.ORCL27.4427.5026.7426.9658.1M
Cisco SystemsCSCO21.8422.2521.7522.0954.2M
Wells Fargo & Co.WFC25.4625.7325.3325.5946.5M
JPMorgan ChaseJPM39.5139.8039.3039.7528.9M
AT&T Inc.T28.7028.8028.5028.5826.6M
HP Inc.HPQ41.1641.7040.8740.9824.6M
Verizon CommunicationsVZ32.4732.6832.4032.6418.7M
Berkshire HathawayBRK.B82.0985.8682.0083.3216M
Abbott LaboratoriesABT51.9952.3351.7551.9413.7M
Johnson & JohnsonJNJ61.9862.4061.8362.1412.6M
Bristol-Myers SquibbBMY27.7527.9327.5727.6212.5M
Home DepotHD31.2731.6931.2431.6411.4M
Walt Disney & Co.DIS33.3833.8233.3133.5810.7M
Procter & GamblePG61.5061.8161.3661.6410.6M
Wal-Mart StoresWMT53.9554.3953.8454.089.77M
UnitedHealth GroupUNH35.9435.9435.6035.738.56M
Gilead SciencesGILD36.3636.7636.0136.557.68M
International Business MachinesIBM132.42134.15132.34134.117.12M
United TechnologiesUTX70.4471.6870.4471.502.99M
Union PacificUNP79.9782.1579.6482.102.74M
Exchange Rates of September 24th, 2010
CurrenciesExchange Rates
US DollarJapanese Yen1 USD = 84.200 JPY1 JPY = 0.012 USD
US DollarCanadian Dollar1 USD = 1.024 CAD1 CAD = 0.977 USD
US DollarSwiss Franc1 USD = 0.983 CHF1 CHF = 1.018 USD
US DollarChinese Yuan1 USD = 6.705 CNY1 CNY = 0.149 USD
EuroJapanese Yen1 EUR = 113.580 JPY1 JPY = 0.009 EUR
EuroPound Sterling1 EUR = 0.853 GBP1 GBP = 1.172 EUR
EuroAustralian Dollar1 EUR = 1.406 AUD1 AUD = 0.711 EUR
EuroCanadian Dollar1 EUR = 1.381 CAD1 CAD = 0.724 EUR
EuroSwiss Franc1 EUR = 1.326 CHF1 CHF = 0.754 EUR
EuroChinese Yuan1 EUR = 9.043 CNY1 CNY = 0.111 EUR
Japanese YenPound Sterling1 JPY = 0.750 GBP1 GBP = 1.333 JPY
Japanese YenAustralian Dollar1 JPY = 1.237 AUD1 AUD = 0.808 JPY
Japanese YenCanadian Dollar1 JPY = 1.216 CAD1 CAD = 0.823 JPY
Japanese YenSwiss Franc1 JPY = 1.167 CHF1 CHF = 0.857 JPY
Pound SterlingAustralian Dollar1 GBP = 1.650 AUD1 AUD = 0.606 GBP
Pound SterlingCanadian Dollar1 GBP = 1.620 CAD1 CAD = 0.617 GBP
Pound SterlingSwiss Franc1 GBP = 1.555 CHF1 CHF = 0.643 GBP
Pound SterlingChinese Yuan1 GBP = 10.599 CNY1 CNY = 0.094 GBP
Australian DollarCanadian Dollar1 AUD = 0.982 CAD1 CAD = 1.018 AUD
Australian DollarSwiss Franc1 AUD = 0.942 CHF1 CHF = 1.061 AUD
Australian DollarChinese Yuan1 AUD = 6.430 CNY1 CNY = 0.156 AUD
Canadian DollarSwiss Franc1 CAD = 0.960 CHF1 CHF = 1.042 CAD
Canadian DollarChinese Yuan1 CAD = 6.547 CNY1 CNY = 0.153 CAD
Swiss FrancChinese Yuan1 CHF = 6.819 CNY1 CNY = 0.147 CHF

See what else happened on September 24th, 2010