Financial news on June 28th, 2006

Business and Financial news
Bankruptcy Court Backs Adelphia Sale

Time Warner and Comcast, the cable television companies, won bankruptcy court approval to buy Adelphia for $17.6 billion in cash and stock. Read more..

By BLOOMBERG NEWS - The New York Times

Changing Face of Queens: From Small Asian Shops to High-End Stores

If you're looking for cafes serving bubble tea or herbalists offering dried lotus blossoms, downtown Flushing has them in large quantity. Read more..

By ALISON GREGOR - The New York Times

Charities Tied to Doctors Get Drug Industry Gifts

Critics say the payments can bias the doctors' treatment decisions and may lead to suspect research findings. Read more..

By REED ABELSON - The New York Times

Game Maker's Shares Slide Amid Inquiry

Take-Two Interactive surprised investors on Monday by disclosing that it had received grand jury subpoenas inquiring into a range of its business practices. Read more..

By MATT RICHTEL - The New York Times

Indiana Seems Likely Winner in Contest to Land New Honda Factory

The project, expected to cost $400 million, would create 1,500 jobs in a state that already has two other plants owned by foreign auto companies. Read more..


Internet Companies Divided on Plan to Fight Pornography

Some companies presented a less than united front addressing proposals on the issue being drafted in Congress. Read more..

By KURT EICHENWALD - The New York Times

New Media Luring Money Away From Networks

Advance advertising sales for the fall television season will probably be down for a second year in a row, reflecting the growing impact of new media outlets. Read more..

By STUART ELLIOTT - The New York Times

Nortel to Cut 1,100 Jobs as It Tries for Comeback

The company expects the cuts to save annual costs, but some analysts were skeptical the changes would help. Read more..

By IAN AUSTEN - The New York Times

Polarized Responses to Bill Gates

Readers' reactions to Bill Gates were so polarized that I found it hard to believe we live in the same society, let alone the same planet. Read more..

By DAVID POGUE - The New York Times

Treasury Nominee Gives Few Specifics on Bush Priorities

Testifying at his confirmation hearing, Henry M. Paulson Jr. cautiously avoided any hints about the administration's economic priorities. Read more..

By EDMUND L. ANDREWS - The New York Times

Stock Markets

Values are reported in US Dollars

StockTicker symbolOpenHighLowCloseVolume
Cisco SystemsCSCO19.3119.4419.0819.3835.2M
Home DepotHD36.2736.4536.0036.1627M
Oracle Corp.ORCL14.5014.6314.4914.5825.3M
General ElectricGE32.9333.0432.7832.9320.3M
HP Inc.HPQ32.1032.1931.0431.5915.9M
AT&T Inc.T27.2727.4427.2427.4114.9M
Abbott LaboratoriesABT41.9242.6441.9242.199.65M
Johnson & JohnsonJNJ59.5259.5858.9759.239.49M
Verizon CommunicationsVZ32.5832.8432.5232.618.57M
JPMorgan ChaseJPM41.1741.3140.9441.278.54M
Walt Disney & Co.DIS29.4129.6429.2429.388.4M
Wal-Mart StoresWMT47.6547.9347.3647.927.29M
UnitedHealth GroupUNH43.6544.6042.9044.437.27M
Procter & GamblePG55.7556.0255.5055.776.49M
Wells Fargo & Co.WFC65.9466.5265.7566.255.97M
Bristol-Myers SquibbBMY25.3525.6225.2025.254.78M
International Business MachinesIBM76.5376.6576.0676.564.39M
Gilead SciencesGILD55.4456.2254.8656.092.6M
United TechnologiesUTX61.3061.6060.6061.332.07M
Union PacificUNP88.2389.7187.4689.451.54M
Berkshire HathawayBRK.B3050.003073.003036.003073.0013K
Exchange Rates of June 28th, 2006
CurrenciesExchange Rates
US DollarJapanese Yen1 USD = 116.410 JPY1 JPY = 0.009 USD
US DollarCanadian Dollar1 USD = 1.124 CAD1 CAD = 0.890 USD
US DollarSwiss Franc1 USD = 1.246 CHF1 CHF = 0.803 USD
US DollarChinese Yuan1 USD = 7.999 CNY1 CNY = 0.125 USD
EuroJapanese Yen1 EUR = 146.040 JPY1 JPY = 0.007 EUR
EuroPound Sterling1 EUR = 0.690 GBP1 GBP = 1.450 EUR
EuroAustralian Dollar1 EUR = 1.721 AUD1 AUD = 0.581 EUR
EuroCanadian Dollar1 EUR = 1.409 CAD1 CAD = 0.710 EUR
EuroSwiss Franc1 EUR = 1.563 CHF1 CHF = 0.640 EUR
Pound SterlingAustralian Dollar1 GBP = 2.494 AUD1 AUD = 0.401 GBP
Pound SterlingCanadian Dollar1 GBP = 2.043 CAD1 CAD = 0.489 GBP
Pound SterlingSwiss Franc1 GBP = 2.266 CHF1 CHF = 0.441 GBP
Australian DollarCanadian Dollar1 AUD = 0.819 CAD1 CAD = 1.222 AUD
Australian DollarSwiss Franc1 AUD = 0.908 CHF1 CHF = 1.102 AUD

See what else happened on June 28th, 2006