Financial news on April 26, 2010

Business and Financial news
A Change of Topics for Pandit: World Growth

Putting aside from the challenges facing Citigroup, Vikram S. Pandit, the bank’s chief executive, said he believed the world should embrace the “U.S. model” of development in order to foster long-term and sustainable economic growth. Read more..

By CYRUS SANATI - The New York Times

Babson Winners Sell Viral Videos and Healthy Foods

Babson College concluded its 2010 business plan competition on Thursday, with the $5,000 cash prize going to Crelligence Media, a digital video venture founded by a Babson senior, Alexander Debelov. Read more..

By DEALBOOK - The New York Times

Dow Ends Week Up, Extending Streak to 5 Days

Stocks pushed higher on Friday as the Dow Jones industrial average rose for a fifth consecutive day, and analysts saw little economic news on the horizon that would upset market sentiment next week. Read more..

By DEALBOOK - The New York Times

Hertz to Buy Dollar Thrifty for $1.2 Billion

The deal would united two of the biggest names in the rental car business. Read more..

By DEALBOOK - The New York Times

Obama Fulfills Pledge With Entrepreneur Summit

President Barack Obama will host a two-day summit on entrepreneurship beginning Monday in a new effort to build business and social ties to the Muslim world, Reuters reported. Read more..

By DEALBOOK - The New York Times

Rich: Fight On, Goldman Sachs!

Lloyd C. Blankfein’s unrepentant truculence exposed Goldman Sachs to an S.E.C. legal action that has, in a single week, radically transformed the politics and prospects for financial reform in America, Frank Rich writes in The New York Times. Read more..

By DEALBOOK - The New York Times

Stifel Financial and Thomas Weisel Merge

Stifel Financial, the brokerage house based in St. Louis, said Monday that it had reached a merger agreement with Thomas Weisel Partners worth about $300 million. Read more..

By DEALBOOK - The New York Times

Summers on Goldman E-Mails and Transparency

E-mails sent by Goldman Sachs executives on money the firm made by betting against risky mortgage securities highlight the need for transparency in financial markets, senior White House adviser Lawrence Summers said Sunday. Read more..

By DEALBOOK - The New York Times

The Rise of the Fleet-Footed Start-Up

Eric Ries and Steven Blank think they have a better way to build a start-up, one that takes less time and money to try new ideas and find paying customers. They are leading proponents of the “lean start-up” — a fresh approach to creating companies. Read more..

By DEALBOOK - The New York Times

Twitter Snaps Up a Text-Messaging Company

Twitter, which was born as a text-messaging service, has gone back to its roots, announcing Friday that it had acquired Cloudhopper, a Seattle text-messaging start-up. Read more..

By DEALBOOK - The New York Times

Stock Markets

Values are reported in US Dollars

StockTicker symbolOpenHighLowCloseVolume
General ElectricGE19.1919.3719.1019.3065.7M
JPMorgan ChaseJPM44.7844.8143.7343.8942.9M
Wells Fargo & Co.WFC33.3633.4532.5932.7236.2M
Cisco SystemsCSCO27.5827.7027.4827.5735.7M
Home DepotHD36.5237.0336.4636.4922.1M
Oracle Corp.ORCL26.5026.6126.2526.4720.1M
Abbott LaboratoriesABT51.0851.7750.0650.3719.7M
AT&T Inc.T26.2326.4226.2126.2717.8M
Verizon CommunicationsVZ28.9829.1028.8428.9417.4M
UnitedHealth GroupUNH31.1231.1529.7029.8516.6M
Gilead SciencesGILD41.5541.6040.5340.5615M
Wal-Mart StoresWMT54.5354.7054.0154.0414.8M
HP Inc.HPQ53.9354.6053.8254.2612.1M
Bristol-Myers SquibbBMY24.8024.8424.4824.5010.6M
Walt Disney & Co.DIS36.7637.1436.6737.049.98M
Johnson & JohnsonJNJ64.9965.2064.7264.769.28M
Procter & GamblePG63.4564.0063.4063.949.26M
International Business MachinesIBM129.76131.04129.54130.735.29M
Berkshire HathawayBRK.B78.9979.6778.9579.244.66M
Union PacificUNP77.0477.1676.3677.114.35M
United TechnologiesUTX76.5777.0876.2676.403.46M
Exchange Rates of April 26, 2010
CurrenciesExchange Rates
US DollarJapanese Yen1 USD = 94.010 JPY1 JPY = 0.011 USD
US DollarCanadian Dollar1 USD = 1.001 CAD1 CAD = 0.999 USD
US DollarSwiss Franc1 USD = 1.071 CHF1 CHF = 0.934 USD
US DollarChinese Yuan1 USD = 6.828 CNY1 CNY = 0.146 USD
EuroJapanese Yen1 EUR = 125.900 JPY1 JPY = 0.008 EUR
EuroPound Sterling1 EUR = 0.866 GBP1 GBP = 1.154 EUR
EuroAustralian Dollar1 EUR = 1.444 AUD1 AUD = 0.693 EUR
EuroCanadian Dollar1 EUR = 1.340 CAD1 CAD = 0.746 EUR
EuroSwiss Franc1 EUR = 1.435 CHF1 CHF = 0.697 EUR
EuroChinese Yuan1 EUR = 9.146 CNY1 CNY = 0.109 EUR
Japanese YenPound Sterling1 JPY = 0.688 GBP1 GBP = 1.453 JPY
Japanese YenAustralian Dollar1 JPY = 1.146 AUD1 AUD = 0.872 JPY
Japanese YenCanadian Dollar1 JPY = 1.064 CAD1 CAD = 0.940 JPY
Japanese YenSwiss Franc1 JPY = 1.140 CHF1 CHF = 0.878 JPY
Pound SterlingAustralian Dollar1 GBP = 1.666 AUD1 AUD = 0.600 GBP
Pound SterlingCanadian Dollar1 GBP = 1.546 CAD1 CAD = 0.647 GBP
Pound SterlingSwiss Franc1 GBP = 1.656 CHF1 CHF = 0.604 GBP
Pound SterlingChinese Yuan1 GBP = 10.538 CNY1 CNY = 0.095 GBP
Australian DollarCanadian Dollar1 AUD = 0.928 CAD1 CAD = 1.078 AUD
Australian DollarSwiss Franc1 AUD = 0.993 CHF1 CHF = 1.007 AUD
Australian DollarChinese Yuan1 AUD = 6.332 CNY1 CNY = 0.158 AUD
Canadian DollarSwiss Franc1 CAD = 1.070 CHF1 CHF = 0.934 CAD
Canadian DollarChinese Yuan1 CAD = 6.821 CNY1 CNY = 0.147 CAD
Swiss FrancChinese Yuan1 CHF = 6.373 CNY1 CNY = 0.157 CHF

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