Financial news on February 28, 2006
Business and Financial news
Is NStar next? The Massachusetts-based electric and gas utility is looking like a good fit for British energy giant National Grid following its recent agreement to acquire KeySpan for $7.3 billion. That deal, plus a follow-on transaction that includes 800,000 KeySpan gas customers in Eastern Massachusetts, makes it look as if National Grid has NStar […] Read more..
As the largest individual shareholder in Disney, would Steve Jobs be interested in having his Apple acquire Disney? Apple may be interested in making a bid for media giant, given Jobs’ experience in leading companies familiar with technology and award winning movies using computer animation, according a weekend article in Barron’s. Respones among bloggers ranged […] Read more..
Hedge fund growth is soaring, but is some of that being floated on hot air? A new study by Barclays Capital suggests that hedge fund indexes, because of flaws in they are compiled, may be overstating returns by as much as one to six percentage points a year. Tim Bond, author of the study, the […] Read more..
Kohlberg Kravis Roberts & Co., the world’s biggest buyout firm, may increase its stake in General Motors‘ commercial mortgage unit six months after buying 60 percent of the company, according to Bloomberg News. GM tried to sell the unit, which lends to apartment complexes and malls, two years ago for $2 billion. Go to Article […] Read more..
With the backing of Michael Dell, SkyBridge Capital has taken a new apporach to hedge fund investing. Instead of investing in a fund or managing a fund, SkyBridge has gotten into the business of providing seed capital to funds, according to The Street.com. Apparently, the returns on this type of investment can make investing in […] Read more..
MidOcean Partners LLP has signed an agreement to buy Palace Entertainment, an operator of 32 family-oriented theme parks, from Windward Capital in a secondary buyout. While the value of the deal was not disclosed, MidOcean typically puts between $50 million and $100 million of equity toward each of its deals, and purchase prices are generally […] Read more..
Canadian restaurant chain Tim Hortons, now owned by Wendy’s International Inc., may offer up to 29 million shares for between C$21 and C$23 a share, or about $18 to $20, according to a regulatory filing on Monday. Go to Article from Reuters » Read more..
Putting an end to months of speculation about his future in fashion, the designer announced that he would open his first store, in New York. Read more..
Values are reported in US Dollars
|Procter & Gamble||PG||61.00||61.21||59.85||59.93||14.5M|
|Walt Disney & Co.||DIS||28.46||28.46||27.82||27.99||11M|
|Johnson & Johnson||JNJ||57.81||57.92||57.42||57.65||8.94M|
|International Business Machines||IBM||80.10||80.55||79.71||80.24||5.96M|
|Wells Fargo & Co.||WFC||64.34||64.54||63.77||64.20||4.92M|
Exchange Rates of February 28, 2006
|US Dollar||Japanese Yen||1 USD = 115.740 JPY||1 JPY = 0.009 USD|
|US Dollar||Canadian Dollar||1 USD = 1.137 CAD||1 CAD = 0.880 USD|
|US Dollar||Swiss Franc||1 USD = 1.312 CHF||1 CHF = 0.762 USD|
|US Dollar||Chinese Yuan||1 USD = 8.038 CNY||1 CNY = 0.124 USD|
|Euro||Japanese Yen||1 EUR = 137.960 JPY||1 JPY = 0.007 EUR|
|Euro||Pound Sterling||1 EUR = 0.680 GBP||1 GBP = 1.472 EUR|
|Euro||Australian Dollar||1 EUR = 1.605 AUD||1 AUD = 0.623 EUR|
|Euro||Canadian Dollar||1 EUR = 1.355 CAD||1 CAD = 0.738 EUR|
|Euro||Swiss Franc||1 EUR = 1.564 CHF||1 CHF = 0.640 EUR|
|Pound Sterling||Australian Dollar||1 GBP = 2.362 AUD||1 AUD = 0.423 GBP|
|Pound Sterling||Canadian Dollar||1 GBP = 1.993 CAD||1 CAD = 0.502 GBP|
|Pound Sterling||Swiss Franc||1 GBP = 2.300 CHF||1 CHF = 0.435 GBP|
|Australian Dollar||Canadian Dollar||1 AUD = 0.844 CAD||1 CAD = 1.185 AUD|
|Australian Dollar||Swiss Franc||1 AUD = 0.973 CHF||1 CHF = 1.027 AUD|