Financial news on May 25th, 2010

Business and Financial news
Bloomberg Announces Investment in Tech Start-Up

From City Room: A city fund for investing in start-up companies has chosen the recipient of its first $300,000 in seed money: My City Way, a mobile phone software developer. Read more..

By DEALBOOK - The New York Times

Disney Reopens Miramax Talks With Rival of Weinsteins

After the collapse of Bob and Harvey Weinstein’s bid to win back Miramax Films, the Walt Disney Company has resumed casual talks with a competing bidder. Read more..

By DEALBOOK - The New York Times

Hedge Funds Getting Hammered on Financials?

Over the last year or so, many hedge funds have scored big betting on financial firms. But, if they’re are still in the game, they’re taking a beating, Business Insider says. Read more..

By DEALBOOK - The New York Times

Hotels Book Unusual Events to Draw in the Public

Guests don’t have to leave the hotel to do something interesting, while local residents acquire a familiarity with the hotel that could lead to more business. Read more..

By JULIE WEED - The New York Times

In Europe, Britain May Face Largest Debt Hurdle

Prime Minister David Cameron must close a British budget deficit now equal to 11 percent of gross domestic product. Read more..

By LANDON THOMAS Jr - The New York Times

Moelis & Company Outgrowing Its Boutique Status

In just three years, Ken Moelis’s corporate finance advisory firm has swelled to 325 people, and counting. Read more..


To Prepay for a Crisis, or Not

Once a full-blown crisis is in progress, it is not clear what financial institution would be in a position to pay into an emergency fund. This is why the prepay version of the financial bill makes most sense. Read more..

By DEALBOOK - The New York Times

U.S. Regulator Says Mortgage Lenders Stabilizing

The U.S. thrift industry reported its third consecutive quarter of profit, earning $1.82 billion during the first three months of the year. Read more..

By DEALBOOK - The New York Times

Wall Street Slips at the Close

Stocks declined on Monday, dragged down by late-day losses in the financial sector, which has been mired in uncertainty over financial reforms and European debt troubles. Read more..

By DEALBOOK - The New York Times

Warburg Pincus to Invest $139 Million in Sterling

Sterling Financial announced Monday that it will receive a total of $278 million in private equity financing, after Warburg Pincus agreed to join Thomas H. Lee Partners in investing in the bank holding company, The Associated Press reported. Read more..

By DEALBOOK - The New York Times

Stock Markets

Values are reported in US Dollars

StockTicker symbolOpenHighLowCloseVolume
General ElectricGE15.5015.9715.2515.95122M
JPMorgan ChaseJPM37.6739.0137.3538.9466.8M
Cisco SystemsCSCO22.7323.3122.6023.3164.9M
Wells Fargo & Co.WFC27.7128.9127.4428.9055.2M
AT&T Inc.T24.0924.3923.7824.3252.2M
Oracle Corp.ORCL21.7722.2021.6322.2041.2M
Home DepotHD32.5434.0432.4233.9830.5M
Walt Disney & Co.DIS31.5832.3731.2132.3226.6M
Abbott LaboratoriesABT47.0247.2546.3147.2326.4M
Verizon CommunicationsVZ27.0927.4626.8027.4024.8M
Wal-Mart StoresWMT50.2550.5050.0050.2824.1M
HP Inc.HPQ44.5445.9044.1745.8522.7M
Johnson & JohnsonJNJ59.7160.4159.1560.3521.2M
Procter & GamblePG60.1561.1260.0561.0518.3M
Gilead SciencesGILD36.1636.2735.6236.1814M
Bristol-Myers SquibbBMY22.6022.8922.2422.8613.9M
International Business MachinesIBM121.47124.95121.47124.529.49M
UnitedHealth GroupUNH28.3328.8928.1128.878.55M
Berkshire HathawayBRK.B69.8970.8768.4870.738.41M
United TechnologiesUTX64.3466.3163.7966.167.86M
Union PacificUNP67.1768.5967.1768.576.06M
Exchange Rates of May 25th, 2010
CurrenciesExchange Rates
US DollarJapanese Yen1 USD = 90.290 JPY1 JPY = 0.011 USD
US DollarCanadian Dollar1 USD = 1.065 CAD1 CAD = 0.939 USD
US DollarSwiss Franc1 USD = 1.155 CHF1 CHF = 0.866 USD
US DollarChinese Yuan1 USD = 6.832 CNY1 CNY = 0.146 USD
EuroJapanese Yen1 EUR = 111.710 JPY1 JPY = 0.009 EUR
EuroPound Sterling1 EUR = 0.857 GBP1 GBP = 1.167 EUR
EuroAustralian Dollar1 EUR = 1.492 AUD1 AUD = 0.670 EUR
EuroCanadian Dollar1 EUR = 1.318 CAD1 CAD = 0.759 EUR
EuroSwiss Franc1 EUR = 1.429 CHF1 CHF = 0.700 EUR
EuroChinese Yuan1 EUR = 8.452 CNY1 CNY = 0.118 EUR
Japanese YenPound Sterling1 JPY = 0.767 GBP1 GBP = 1.304 JPY
Japanese YenAustralian Dollar1 JPY = 1.335 AUD1 AUD = 0.749 JPY
Japanese YenCanadian Dollar1 JPY = 1.179 CAD1 CAD = 0.848 JPY
Japanese YenSwiss Franc1 JPY = 1.279 CHF1 CHF = 0.782 JPY
Pound SterlingAustralian Dollar1 GBP = 1.741 AUD1 AUD = 0.574 GBP
Pound SterlingCanadian Dollar1 GBP = 1.538 CAD1 CAD = 0.650 GBP
Pound SterlingSwiss Franc1 GBP = 1.667 CHF1 CHF = 0.600 GBP
Pound SterlingChinese Yuan1 GBP = 9.858 CNY1 CNY = 0.101 GBP
Australian DollarCanadian Dollar1 AUD = 0.883 CAD1 CAD = 1.133 AUD
Australian DollarSwiss Franc1 AUD = 0.957 CHF1 CHF = 1.045 AUD
Australian DollarChinese Yuan1 AUD = 5.663 CNY1 CNY = 0.177 AUD
Canadian DollarSwiss Franc1 CAD = 1.083 CHF1 CHF = 0.923 CAD
Canadian DollarChinese Yuan1 CAD = 6.417 CNY1 CNY = 0.156 CAD
Swiss FrancChinese Yuan1 CHF = 5.914 CNY1 CNY = 0.169 CHF

See what else happened on May 25th, 2010