Financial news on October 25th, 2010

Business and Financial news
Accounts and People of Note in the Ad Industry

Amy L. Andrews joined Media Networks in a new post, director for publisher relations, working for MNI and its divisions Targeted Media and MNI MediaConnect. Read more..

By THE NEW YORK TIMES - The New York Times

Adobe Declares Its Independent Streak

Adobe Systems aims to grow independently, its chief executive told a German newspaper, following speculation the software maker could become a takeover target for Microsoft, according to Reuters. Read more..

By DEALBOOK - The New York Times

Buffett Hires Manager for Big Part of Portfolio

Warren E. Buffett’s Berkshire Hathaway announced on Monday that it has hired Todd Combs of Castle Point Capital to manage a “significant portion” of its investment portfolio. Read more..

By THOMAS KAPLAN - The New York Times

CommScope Shares Pop Amid Carlyle Deal Talks

The company’s shares rose after it confirmed DealBook’s report of talks with the Carlyle Group. Analysts wrote that a deal makes sense, given CommScope’s positive business prospects. Read more..

By DEALBOOK - The New York Times

Hochtief Chief Sounded Out Qatar to Fend Off ACS

Hochtief’s chief executive, Herbert Luetkestratkoetter, met with Qatar’s economy minister at the end of September, lobbying for support against an unwanted low-ball offer from Spain’s ACS. Read more..

By DEALBOOK - The New York Times

I.M.F. Gains Sway, but Its Authority Is Uncertain

Whether the International Monetary Fund is up to the task of policing its members and exerting influence on the most powerful ones remains far from clear. Read more..

By SEWELL CHAN - The New York Times

Marubeni in Deal for 4 BP Wells in Gulf of Mexico

Marubeni Corporation of Japan said on Monday it has agreed to pay $650 million for the stakes held by a unit of BP in four oil and gas wells in the U.S. Gulf of Mexico, as the British oil company looks to offload assets in the wake of a massive oil spill in the region. Read more..

By DEALBOOK - The New York Times

OMV Taking Over Turkish Fuel Distributor

OMV, the Austrian energy company, said Monday that it was buying more than half of the Turkish oil company Petrol Ofisi from Dogan Holding for 1 billion euros, raising its stake in Petrol to more than 95 percent. Read more..

By DEALBOOK - The New York Times

Selling New Wine in Millennial Bottles

Three agencies work on a campaign aimed at echo boomers, or millennials, for the HobNob line of wines from France. Read more..

By STUART ELLIOTT - The New York Times

Wall St. and Private Equity: Frenemies?

With Guy Hands squaring off in court against his opera and hunting mate, David Wormsley, and the lawsuit brought against Teddy Forstmann by a tennis buddy, it’s a reminder that personal ties only go so far in finance, Reuters Breakingviews says. Read more..

By DEALBOOK - The New York Times

Stock Markets

Values are reported in US Dollars

StockTicker symbolOpenHighLowCloseVolume
General ElectricGE16.2616.3216.0616.0653.6M
JPMorgan ChaseJPM37.9738.0737.0037.0737.9M
Cisco SystemsCSCO23.6323.9023.5723.6137.1M
Wells Fargo & Co.WFC26.3726.4225.5225.7236.8M
Oracle Corp.ORCL29.1529.2928.8128.8430.7M
AT&T Inc.T28.4928.5228.2628.3617.9M
Verizon CommunicationsVZ32.3032.6132.2032.3515.6M
HP Inc.HPQ42.9643.2342.5642.8813.2M
Abbott LaboratoriesABT52.8553.2352.4652.5113M
Walt Disney & Co.DIS35.1635.7235.1035.4611.2M
Gilead SciencesGILD39.3639.8339.2839.5410.1M
Procter & GamblePG63.7363.8163.4863.548.93M
Home DepotHD31.4231.8331.3231.408.56M
Bristol-Myers SquibbBMY27.0127.2326.9927.168.22M
Wal-Mart StoresWMT54.1854.4053.9053.957.96M
Johnson & JohnsonJNJ64.0464.2363.8563.987.79M
UnitedHealth GroupUNH37.5237.9537.4637.567.46M
International Business MachinesIBM140.42141.40139.81139.844.87M
United TechnologiesUTX75.4675.5774.8075.014.07M
Berkshire HathawayBRK.B83.5284.0083.2883.333.55M
Union PacificUNP87.0988.0686.8187.193.44M
Exchange Rates of October 25th, 2010
CurrenciesExchange Rates
US DollarJapanese Yen1 USD = 80.780 JPY1 JPY = 0.012 USD
US DollarCanadian Dollar1 USD = 1.020 CAD1 CAD = 0.981 USD
US DollarSwiss Franc1 USD = 0.971 CHF1 CHF = 1.030 USD
US DollarChinese Yuan1 USD = 6.659 CNY1 CNY = 0.150 USD
EuroJapanese Yen1 EUR = 112.720 JPY1 JPY = 0.009 EUR
EuroPound Sterling1 EUR = 0.887 GBP1 GBP = 1.127 EUR
EuroAustralian Dollar1 EUR = 1.409 AUD1 AUD = 0.710 EUR
EuroCanadian Dollar1 EUR = 1.423 CAD1 CAD = 0.703 EUR
EuroSwiss Franc1 EUR = 1.356 CHF1 CHF = 0.738 EUR
EuroChinese Yuan1 EUR = 9.301 CNY1 CNY = 0.108 EUR
Japanese YenPound Sterling1 JPY = 0.787 GBP1 GBP = 1.271 JPY
Japanese YenAustralian Dollar1 JPY = 1.250 AUD1 AUD = 0.800 JPY
Japanese YenCanadian Dollar1 JPY = 1.262 CAD1 CAD = 0.792 JPY
Japanese YenSwiss Franc1 JPY = 1.202 CHF1 CHF = 0.832 JPY
Pound SterlingAustralian Dollar1 GBP = 1.589 AUD1 AUD = 0.630 GBP
Pound SterlingCanadian Dollar1 GBP = 1.604 CAD1 CAD = 0.623 GBP
Pound SterlingSwiss Franc1 GBP = 1.527 CHF1 CHF = 0.655 GBP
Pound SterlingChinese Yuan1 GBP = 10.466 CNY1 CNY = 0.096 GBP
Australian DollarCanadian Dollar1 AUD = 1.010 CAD1 CAD = 0.991 AUD
Australian DollarSwiss Franc1 AUD = 0.961 CHF1 CHF = 1.040 AUD
Australian DollarChinese Yuan1 AUD = 6.597 CNY1 CNY = 0.152 AUD
Canadian DollarSwiss Franc1 CAD = 0.952 CHF1 CHF = 1.051 CAD
Canadian DollarChinese Yuan1 CAD = 6.532 CNY1 CNY = 0.153 CAD
Swiss FrancChinese Yuan1 CHF = 6.859 CNY1 CNY = 0.146 CHF

See what else happened on October 25th, 2010