Financial news on October 27th, 2010

Business and Financial news
CommScope and Carlyle Seal $3 Billion Deal

The telecom equipment provider will sell itself for $31.50 a share in cash, although it has until Dec. 5 to find a higher offer. Read more..

By DEALBOOK - The New York Times

Creditors Back Dubai World Debt Restructuring

State-owned Dubai World has secured support from all its creditors for a $25 billion debt restructuring plan, a spokesman said on Wednesday, helping to avoid a drawn-out battle with a special tribunal. Read more..

By DEALBOOK - The New York Times

Deutsche Bank Reports Loss, Citing Takeover Costs

Deutsche Bank said Wednesday that it had lost money in the third quarter as the costs of acquiring Germany’s largest retail bank added to the effects of a slump in stock trading. Read more..

By DEALBOOK - The New York Times

Did Einhorn Rebuff Buffett?

Did David Einhorn turn down Warren E. Buffett? That’s the suggestion from Insider Monkey. The blog thinks the Greenlight Capital chief may have been one of the unidentified fund managers to take themselves out of the running to become heir apparent to manage the investments at Berkshire Hathaway. Read more..

By DEALBOOK - The New York Times

European Union Adopts Hedge Fund Rules

The European Union agreed Tuesday after drawn-out negotiations to new rules for hedge funds, having gained the approval of the European Parliament to regulate more thoroughly the 2 trillion euro industry. Read more..

By DEALBOOK - The New York Times

Fed Won’t Join Appeal to Keep Emergency Loans Secret

The Federal Reserve will not join a group of leading commercial banks in asking the Supreme Court to allow the government to withhold details of emergency loans made to financial companies in 2008. Read more..

By DEALBOOK - The New York Times

Fed Won’t Join Appeal to Keep Its Loans Secret

The Supreme Court is now less likely to hear the case, which was asking the government to withhold details of the 2008 bank rescues. Read more..

By BLOOMBERG NEWS - The New York Times

I.B.M. Approves $10 Billion Stock Buyback

I.B.M. said on Tuesday that its board had approved an additional $10 billion in stock buybacks, representing nearly 6 percent of its outstanding shares. Read more..

By DEALBOOK - The New York Times

SGX-ASX Merger Seen as Threat to Hong Kong Exchange

A merger between Singapore Exchange and ASX will make it harder for Hong Kong to win offerings by commodity companies and achieve an expansion plan announced this year, the chairman of the Hong Kong bourse said. Read more..

By DEALBOOK - The New York Times

The Hurdles to Suing Outside Advisers for Fraud

White Collar Watch examines how court rulings, most recently one in New York, have reaffirmed the protection that outside advisers have from damage claims in cases of corporate fraud. Read more..

By PETER J. HENNING - The New York Times

Stock Markets

Values are reported in US Dollars

StockTicker symbolOpenHighLowCloseVolume
General ElectricGE16,0616,1415,9916,1150.6M
Cisco SystemsCSCO23,2523,3623,0323,2939.2M
Wells Fargo & Co.WFC25,6926,0025,6025,7535.4M
Oracle Corp.ORCL28,5528,8228,3628,7033.9M
JPMorgan ChaseJPM37,0637,6337,0037,5430.8M
AT&T Inc.T28,2628,4128,0828,3524.8M
Abbott LaboratoriesABT52,3452,3451,0351,6420.4M
Verizon CommunicationsVZ32,4432,5632,1932,5119M
HP Inc.HPQ42,5542,8441,9642,3918.8M
Procter & GamblePG63,3363,3562,7363,0813.3M
Wal-Mart StoresWMT54,2454,6353,5553,8713M
UnitedHealth GroupUNH37,2537,3635,7035,9312.7M
Johnson & JohnsonJNJ63,5863,6963,2863,5711.9M
Walt Disney & Co.DIS35,6035,9635,4735,9211.8M
Home DepotHD31,0531,0530,4530,9011.6M
Bristol-Myers SquibbBMY26,7226,9926,7026,8710.1M
Gilead SciencesGILD39,2339,7839,0039,467.65M
International Business MachinesIBM139,52141,57139,00141,436.47M
Berkshire HathawayBRK.B81,6781,7280,1380,555.96M
United TechnologiesUTX74,2274,5473,3074,463.32M
Union PacificUNP86,3686,6084,3885,433.25M
Exchange Rates of October 27th, 2010
CurrenciesExchange Rates
US DollarJapanese Yen1 USD = 81,710 JPY1 JPY = 0,012 USD
US DollarCanadian Dollar1 USD = 1,028 CAD1 CAD = 0,973 USD
US DollarSwiss Franc1 USD = 0,990 CHF1 CHF = 1,010 USD
US DollarChinese Yuan1 USD = 6,682 CNY1 CNY = 0,150 USD
EuroJapanese Yen1 EUR = 112,560 JPY1 JPY = 0,009 EUR
EuroPound Sterling1 EUR = 0,873 GBP1 GBP = 1,146 EUR
EuroAustralian Dollar1 EUR = 1,416 AUD1 AUD = 0,706 EUR
EuroCanadian Dollar1 EUR = 1,416 CAD1 CAD = 0,706 EUR
EuroSwiss Franc1 EUR = 1,364 CHF1 CHF = 0,733 EUR
EuroChinese Yuan1 EUR = 9,198 CNY1 CNY = 0,109 EUR
Japanese YenPound Sterling1 JPY = 0,775 GBP1 GBP = 1,290 JPY
Japanese YenAustralian Dollar1 JPY = 1,258 AUD1 AUD = 0,795 JPY
Japanese YenCanadian Dollar1 JPY = 1,257 CAD1 CAD = 0,795 JPY
Japanese YenSwiss Franc1 JPY = 1,211 CHF1 CHF = 0,825 JPY
Pound SterlingAustralian Dollar1 GBP = 1,622 AUD1 AUD = 0,616 GBP
Pound SterlingCanadian Dollar1 GBP = 1,622 CAD1 CAD = 0,617 GBP
Pound SterlingSwiss Franc1 GBP = 1,562 CHF1 CHF = 0,640 GBP
Pound SterlingChinese Yuan1 GBP = 10,530 CNY1 CNY = 0,095 GBP
Australian DollarCanadian Dollar1 AUD = 1,000 CAD1 CAD = 1,000 AUD
Australian DollarSwiss Franc1 AUD = 0,963 CHF1 CHF = 1,039 AUD
Australian DollarChinese Yuan1 AUD = 6,496 CNY1 CNY = 0,154 AUD
Canadian DollarSwiss Franc1 CAD = 0,963 CHF1 CHF = 1,038 CAD
Canadian DollarChinese Yuan1 CAD = 6,499 CNY1 CNY = 0,154 CAD
Swiss FrancChinese Yuan1 CHF = 6,746 CNY1 CNY = 0,148 CHF

See what else happened on October 27th, 2010