Financial news on July 27th, 2010

Business and Financial news
Barton Biggs Not Ready to Bet on BP

Barton Biggs, the hedge fund manager who became more optimistic about stocks this month, said that BP is still “too speculative” to buy, Bloomberg News reported. Read more..

By DEALBOOK - The New York Times

BP Is Expected to Replace Chief With American

Robert Dudley, an American, will take over leadership of the company after repeated stumbles by Tony Hayward in responding to the oil spill in the Gulf of Mexico. Read more..


BP Shares Fall as Asset Sale Plan Grows

The company said it planned to sell off more assets than it had previously announced. Read more..

By DEALBOOK - The New York Times

Buyout Shops in Talks to Buy Harrington, Report Says

Clayton Dubilier & Rice and Goldman Sachs’s private-equity unit are in talks to buy Harrington Holdings, a medical supply distribution company, for about $850 million including debt, Bloomberg News reported, citing two people with knowledge of the discussions. Read more..

By DEALBOOK - The New York Times

Central Bankers Reach Early Deal on Global Standards

Even as investors applauded the mostly positive results of recent stress tests of European banks, central bankers and regulators reached a preliminary agreement Monday on new standards to reinforce the stability of the global financial system. Read more..

By DEALBOOK - The New York Times

CIT Posts $142.1 Million Quarterly Profit

The big lender to small mid-sized companies said on Tuesday that it earned $142.1 million for its second quarter, as it continues rebuilding itself after its restructuring last year. Read more..

By DEALBOOK - The New York Times

Nobel Peace Prize City

One bowl of oil to go, please. Read more..

By PATRICK MERRELL - The New York Times

Nuclear Energy Loses Cost Advantage

In a "historic crossover," the costs of solar photovoltaic systems have fallen below the rising projected costs of new nuclear plants, a report says. Read more..

By DIANA S. POWERS - International Herald Tribune

Pace Goes Over the Top With 2Wire Buy

Pace, the U.K. set-top box maker, is expanding its reach in the U.S. and into the online video market with the acquisition of broadband video technology firm 2Wire, GigaOm reported. Read more..

By DEALBOOK - The New York Times

With New Stars, Reality Shows See Costs Rise

The stars of “Jersey Shore” as a group earned about $25,000 for the first season. Now they will reportedly earn at least that much for each episode. Read more..

By BRIAN STELTER - The New York Times

Stock Markets

Values are reported in US Dollars

StockTicker symbolOpenHighLowCloseVolume
General ElectricGE16.3016.5716.1016.1869.9M
Cisco SystemsCSCO23.6823.7223.2023.3048M
Gilead SciencesGILD33.4333.5432.8233.3946M
JPMorgan ChaseJPM40.7441.2440.6140.6944.9M
Wells Fargo & Co.WFC28.4128.7728.2428.3938.4M
AT&T Inc.T26.0226.4126.0226.1526.1M
Oracle Corp.ORCL24.6024.6824.3224.5723.8M
Verizon CommunicationsVZ28.3228.7528.3028.5922.7M
Johnson & JohnsonJNJ57.9558.4457.6258.1017M
HP Inc.HPQ47.1147.8346.7847.5716.5M
Home DepotHD29.2329.3728.5428.5814.9M
Bristol-Myers SquibbBMY25.0925.3524.8425.3214.2M
Procter & GamblePG62.7263.3662.3563.0812.5M
Wal-Mart StoresWMT50.8051.3050.6650.9612.3M
UnitedHealth GroupUNH31.5331.7230.6330.7811.9M
Abbott LaboratoriesABT49.5049.5048.9649.279.66M
Walt Disney & Co.DIS34.6634.6633.9634.287.1M
Berkshire HathawayBRK.B78.9078.9878.3078.514.99M
International Business MachinesIBM128.78129.17127.89128.634.65M
United TechnologiesUTX71.9671.9770.7571.094.62M
Union PacificUNP76.0076.0074.3674.633.47M
Exchange Rates of July 27th, 2010
CurrenciesExchange Rates
US DollarJapanese Yen1 USD = 87.850 JPY1 JPY = 0.011 USD
US DollarCanadian Dollar1 USD = 1.035 CAD1 CAD = 0.966 USD
US DollarSwiss Franc1 USD = 1.060 CHF1 CHF = 0.944 USD
US DollarChinese Yuan1 USD = 6.779 CNY1 CNY = 0.148 USD
EuroJapanese Yen1 EUR = 114.220 JPY1 JPY = 0.009 EUR
EuroPound Sterling1 EUR = 0.833 GBP1 GBP = 1.200 EUR
EuroAustralian Dollar1 EUR = 1.443 AUD1 AUD = 0.693 EUR
EuroCanadian Dollar1 EUR = 1.346 CAD1 CAD = 0.743 EUR
EuroSwiss Franc1 EUR = 1.378 CHF1 CHF = 0.726 EUR
EuroChinese Yuan1 EUR = 8.813 CNY1 CNY = 0.113 EUR
Japanese YenPound Sterling1 JPY = 0.729 GBP1 GBP = 1.371 JPY
Japanese YenAustralian Dollar1 JPY = 1.262 AUD1 AUD = 0.792 JPY
Japanese YenCanadian Dollar1 JPY = 1.177 CAD1 CAD = 0.849 JPY
Japanese YenSwiss Franc1 JPY = 1.206 CHF1 CHF = 0.829 JPY
Pound SterlingAustralian Dollar1 GBP = 1.730 AUD1 AUD = 0.578 GBP
Pound SterlingCanadian Dollar1 GBP = 1.613 CAD1 CAD = 0.620 GBP
Pound SterlingSwiss Franc1 GBP = 1.653 CHF1 CHF = 0.605 GBP
Pound SterlingChinese Yuan1 GBP = 10.559 CNY1 CNY = 0.095 GBP
Australian DollarCanadian Dollar1 AUD = 0.933 CAD1 CAD = 1.072 AUD
Australian DollarSwiss Franc1 AUD = 0.955 CHF1 CHF = 1.047 AUD
Australian DollarChinese Yuan1 AUD = 6.108 CNY1 CNY = 0.164 AUD
Canadian DollarSwiss Franc1 CAD = 1.024 CHF1 CHF = 0.977 CAD
Canadian DollarChinese Yuan1 CAD = 6.544 CNY1 CNY = 0.153 CAD
Swiss FrancChinese Yuan1 CHF = 6.393 CNY1 CNY = 0.156 CHF

See what else happened on July 27th, 2010