Financial news on February 27th, 2006

Business and Financial news
Ball Picks Up Alcan Unit for $180 Million

Alcan , the Canadian aluminum producer, said it would sell its plastic bottle operations in North America to Ball Corp. for $180 million. Alcan said the the deal was part of its “continued strategy of focusing resources on markets where we enjoy scale and leadership positions.” Ball is already a major supplier of plastic bottles, […] Read more..

By DEALBOOK - The New York Times

GE to Exit Genworth on High Note

General Electric Co. has filed with regulators to sell its 18 percent stake of onetime subsidiary Genworth Financial in a secondary offering, and it should get a much higher price this time around. When the insurance provider first went public in May 2004, Genworth fetched $19.50 a share. Since then, the stock has climbed more […] Read more..

By DEALBOOK - The New York Times

Italy Sees ‘War’ as Suez, GdF Try Defensive Merger

Suez SA and Gaz de France SA plan to merge in a one-for-one stock swap to create the world’s second-largest power and gas company, and fend off a hostile bid for Suez from Italy’s Enel SpA. Shares of Suez fell as much as 7 percent today. Its shares are down 4.4 percent, or 1.49 euros, […] Read more..

By WRITER - The New York Times

KT&G Rejects Bid by Icahn, Lichtenstein; Takeover Battle Ahead?

KT&G Corp. rejected a bid from U.S. investors Carl Icahn and Warren Lichtenstein that valued the tobacco maker at $10 billion, raising the prospect of the nation’s biggest hostile takeover battle. The last unwelcome bid by a foreign investor in South Korea, Asia’s third-largest economy, failed in 1997. Go to Article from Bloomberg News » […] Read more..

By WRITER - The New York Times

Rosneft Chief Wants to Take $20B IPO Global

Rosneft President Sergei Bogdanchikov is courting investors to build the Russian state oil company’s $20 billion initial public stock offering into the main event on the world’s emerging markets this year. Go to Article from Reuters » Read more..

By WRITER - The New York Times

Texas Pacific Plans Asia Push

Texas Pacific Group, one of the world’s biggest private equity groups, plans a push into Asia amid signs that Newbridge Capital, its Asian affiliate, is too small to compete with global rivals for increasingly large deals. TPG wanted to deploy significantly more capital in Asia by using its new $10 billion to $12 billion buyout […] Read more..

By WRITER - The New York Times

Stock Markets

Values are reported in US Dollars

StockTicker symbolOpenHighLowCloseVolume
Cisco SystemsCSCO19.8320.0019.8319.9755.9M
Oracle Corp.ORCL12.4312.5112.3612.4638.6M
General ElectricGE33.2233.3533.1133.3219.3M
Walt Disney & Co.DIS28.0028.4927.9828.3814.9M
HP Inc.HPQ32.3533.5032.3233.4113.3M
AT&T Inc.T27.5227.9827.4827.7711.8M
Verizon CommunicationsVZ34.0034.6133.7534.0611.6M
Home DepotHD41.8242.7241.7542.459.7M
Wal-Mart StoresWMT45.5945.8845.5545.769.05M
Abbott LaboratoriesABT43.8444.8143.8344.458.7M
JPMorgan ChaseJPM41.6741.9541.5541.588.54M
Johnson & JohnsonJNJ57.9658.5557.8357.917.01M
Procter & GamblePG61.6861.8961.3561.356.72M
Bristol-Myers SquibbBMY23.0123.4023.0123.215.5M
International Business MachinesIBM80.0080.8979.9580.633.79M
Gilead SciencesGILD62.0563.9761.8563.673.75M
United TechnologiesUTX58.8859.3058.7658.763.25M
UnitedHealth GroupUNH59.0059.1658.8258.943.25M
Wells Fargo & Co.WFC64.5664.9464.3564.493.06M
Union PacificUNP88.8490.3488.7390.11902K
Berkshire HathawayBRK.B2870.002907.502870.002897.0015.7K
Exchange Rates of February 27th, 2006
CurrenciesExchange Rates
US DollarJapanese Yen1 USD = 116.170 JPY1 JPY = 0.009 USD
US DollarCanadian Dollar1 USD = 1.141 CAD1 CAD = 0.877 USD
US DollarSwiss Franc1 USD = 1.323 CHF1 CHF = 0.756 USD
US DollarChinese Yuan1 USD = 8.039 CNY1 CNY = 0.124 USD
EuroJapanese Yen1 EUR = 137.610 JPY1 JPY = 0.007 EUR
EuroPound Sterling1 EUR = 0.681 GBP1 GBP = 1.469 EUR
EuroAustralian Dollar1 EUR = 1.606 AUD1 AUD = 0.623 EUR
EuroCanadian Dollar1 EUR = 1.351 CAD1 CAD = 0.740 EUR
EuroSwiss Franc1 EUR = 1.567 CHF1 CHF = 0.638 EUR
Pound SterlingAustralian Dollar1 GBP = 2.359 AUD1 AUD = 0.424 GBP
Pound SterlingCanadian Dollar1 GBP = 1.984 CAD1 CAD = 0.504 GBP
Pound SterlingSwiss Franc1 GBP = 2.301 CHF1 CHF = 0.435 GBP
Australian DollarCanadian Dollar1 AUD = 0.841 CAD1 CAD = 1.189 AUD
Australian DollarSwiss Franc1 AUD = 0.975 CHF1 CHF = 1.026 AUD

See what else happened on February 27th, 2006