Financial news on October 26, 2010
Business and Financial news
Bank of America has sued financial adviser Kenneth Starr, who pleaded guilty to fraud last month, over a $500,000 loan, Reuters reported. Read more..
President Hugo Chavez of Venezuela said late Monday that he was ordering a government takeover of the local unit of U.S.- owned glass manufacturer Owens-Illinois. Read more..
One of America’s top trial lawyers faced off against one of Britain’s top investment bankers in crucial testimony that could determine the fate of the EMI Group. Read more..
A Connecticut hedge fund manager was accused by state and federal regulators on Monday of inflating the value of its holdings, which allowed it to fraudulently collect millions of dollars of undeserved fees. Read more..
Samuel D. Waksal, the biotechnology executive whose insider trading landed him and his friend Martha Stewart in prison, is trying to make a comeback. His new company, Kadmon Pharmaceuticals, said it had acquired Three Rivers Pharmaceuticals, a privately held company in that mainly sells drugs to treat hepatitis C. Read more..
Goldman Sachs is the latest company to issue long-dated debt, taking advantage of low interest rates. Read more..
Sheila C. Bair may have sold BankUnited, with its $13 billion of assets, to a group of private equity heavy-hitters in May 2009 for a song, but, Reuters BreakingViews argues, the F.D.I.C. chairwoman need not feel embarrassed. Read more..
The criminalization of the marijuana industry is killing George Soros’s buzz. The financier laid out his arguments for backing California’s Proposition 19, which would legalize the recreational use and small-scale cultivation of marijuana, in an opinion piece in The Wall Street Journal. Read more..
UBS, the European bank that was hit hardest by the financial crisis, took another step in its turnaround Tuesday as it reported a third-quarter profit that beat expectations and said the two-year flow of cash out of its private bank had finally stopped. Read more..
The Weinstein Company is launching a new financing arm, Deadline Hollywood reports. Read more..
Values are reported in US Dollars
|Wells Fargo & Co.||WFC||25.60||25.99||25.48||25.91||30.6M|
|Walt Disney & Co.||DIS||35.13||35.97||34.99||35.96||14.8M|
|Procter & Gamble||PG||63.12||63.44||62.52||62.86||12.9M|
|International Business Machines||IBM||139.29||142.00||138.53||140.67||7.33M|
|Johnson & Johnson||JNJ||63.85||63.95||63.61||63.84||7.12M|
Exchange Rates of October 26, 2010
|US Dollar||Japanese Yen||1 USD = 81.410 JPY||1 JPY = 0.012 USD|
|US Dollar||Canadian Dollar||1 USD = 1.024 CAD||1 CAD = 0.977 USD|
|US Dollar||Swiss Franc||1 USD = 0.984 CHF||1 CHF = 1.016 USD|
|US Dollar||Chinese Yuan||1 USD = 6.664 CNY||1 CNY = 0.150 USD|
|Euro||Japanese Yen||1 EUR = 112.810 JPY||1 JPY = 0.009 EUR|
|Euro||Pound Sterling||1 EUR = 0.875 GBP||1 GBP = 1.144 EUR|
|Euro||Australian Dollar||1 EUR = 1.405 AUD||1 AUD = 0.712 EUR|
|Euro||Canadian Dollar||1 EUR = 1.418 CAD||1 CAD = 0.705 EUR|
|Euro||Swiss Franc||1 EUR = 1.364 CHF||1 CHF = 0.733 EUR|
|Euro||Chinese Yuan||1 EUR = 9.235 CNY||1 CNY = 0.108 EUR|
|Japanese Yen||Pound Sterling||1 JPY = 0.775 GBP||1 GBP = 1.291 JPY|
|Japanese Yen||Australian Dollar||1 JPY = 1.245 AUD||1 AUD = 0.803 JPY|
|Japanese Yen||Canadian Dollar||1 JPY = 1.257 CAD||1 CAD = 0.796 JPY|
|Japanese Yen||Swiss Franc||1 JPY = 1.209 CHF||1 CHF = 0.827 JPY|
|Pound Sterling||Australian Dollar||1 GBP = 1.607 AUD||1 AUD = 0.622 GBP|
|Pound Sterling||Canadian Dollar||1 GBP = 1.622 CAD||1 CAD = 0.617 GBP|
|Pound Sterling||Swiss Franc||1 GBP = 1.559 CHF||1 CHF = 0.641 GBP|
|Pound Sterling||Chinese Yuan||1 GBP = 10.547 CNY||1 CNY = 0.095 GBP|
|Australian Dollar||Canadian Dollar||1 AUD = 1.009 CAD||1 CAD = 0.991 AUD|
|Australian Dollar||Swiss Franc||1 AUD = 0.970 CHF||1 CHF = 1.031 AUD|
|Australian Dollar||Chinese Yuan||1 AUD = 6.572 CNY||1 CNY = 0.152 AUD|
|Canadian Dollar||Swiss Franc||1 CAD = 0.961 CHF||1 CHF = 1.040 CAD|
|Canadian Dollar||Chinese Yuan||1 CAD = 6.509 CNY||1 CNY = 0.154 CAD|
|Swiss Franc||Chinese Yuan||1 CHF = 6.771 CNY||1 CNY = 0.148 CHF|