Financial news on May 28th, 2010

Business and Financial news
A Chain Bets You’re Going to Like the Way Its New Campaign Looks

The clothing chain’s new campaign still features its chief executive, George A. Zimmer, but company’s new commercials are also giving prominent roles to actors. Read more..

By STUART ELLIOTT - The New York Times

A Giant London Port Project Falls Foul of Thames Fishermen

The arrival of a massive dredger to cut a deep-water channel for a planned container port has raised fears that toxic residues, long buried in the riverbed, could be released back into the water. Read more..

By AUDREY SNEE - International Herald Tribune

Asian Stocks Rally After Wall Street’s Rebound

A positive mood on Wall Street carried over to Asia on Friday, making for a third straight day of gains in the region despite continued underlying nervousness about Europe’s debt troubles. Read more..

By DEALBOOK - The New York Times

BlockChalk, a Mobile Social Network, Gets Funding

BlockChalk, the anonymous location-based social networking service, just announced that it is now a venture-backed startup. Read more..

By DEALBOOK - The New York Times

Centerbridge Group Wins Extended Stay

A consortium led by Centerbridge Partners has prevailed in the auction for bankrupt hotel chain Extended Stay, bidding $3.925 billion to win the deal. Read more..

By DEALBOOK - The New York Times

Dealers Brace for Ford to Phase Out Mercury

Mercury’s four models, all versions of other Fords, account for less than 6 percent of Ford sales. The brand is seen as ripe to be cut. Read more..

By NICK BUNKLEY - The New York Times

G.M. Ends Partnership With India’s Reva

After the Mahindra announcement, General Motors said Thursday that it was ending its partnership with Reva to develop electric cars in India. Read more..

By DEALBOOK - The New York Times

Insolvent Karstadt Receives Three Bids

Karstadt, the insolvent German department-store chain owned by Arcandor, received three binding bids from investors before Friday’s deadline, Bloomberg News reported. Read more..

By DEALBOOK - The New York Times

Prudential Tries to Lower Offer for A.I.A.

Prudential, the British insurance giant that is seeking to buy the Asian life insurance unit of American International Group, said on Friday that it was talking to the U.S. insurance giant about reducing the $35.5 billion price tag of the transaction. Read more..

By DEALBOOK - The New York Times

Thing That May Appear

With Joe Krozel, things are rarely as they appear. Read more..

By JIM HORNE - The New York Times

Stock Markets

Values are reported in US Dollars

StockTicker symbolOpenHighLowCloseVolume
General ElectricGE16.6616.6916.1616.3570.4M
Cisco SystemsCSCO23.5223.5722.9923.1656.4M
JPMorgan ChaseJPM40.3340.3539.3639.5841.3M
Wells Fargo & Co.WFC29.4729.5028.5428.6940.9M
Oracle Corp.ORCL22.4822.8522.2922.5735.9M
AT&T Inc.T24.6024.7324.2924.3030.3M
Johnson & JohnsonJNJ58.7259.1258.1958.3026.8M
Abbott LaboratoriesABT47.7748.5847.5047.5623.1M
Verizon CommunicationsVZ27.6027.6727.1927.5219.5M
HP Inc.HPQ47.0647.0745.7646.0119.1M
Home DepotHD34.5734.6433.8233.8617.5M
Walt Disney & Co.DIS33.7034.0533.2433.4215.8M
Wal-Mart StoresWMT50.7550.9350.5050.5614M
Procter & GamblePG60.9561.6860.8561.0914M
Gilead SciencesGILD36.3736.4735.8635.9213.3M
UnitedHealth GroupUNH29.2929.4128.8529.0711.7M
Bristol-Myers SquibbBMY23.3823.4523.1123.219.88M
Berkshire HathawayBRK.B72.4072.7470.5570.557.82M
International Business MachinesIBM125.96126.28124.29125.267.42M
United TechnologiesUTX68.2568.4167.0467.384.81M
Union PacificUNP71.4572.1370.5671.434.05M
Exchange Rates of May 28th, 2010
CurrenciesExchange Rates
US DollarJapanese Yen1 USD = 91.050 JPY1 JPY = 0.011 USD
US DollarCanadian Dollar1 USD = 1.054 CAD1 CAD = 0.949 USD
US DollarSwiss Franc1 USD = 1.159 CHF1 CHF = 0.863 USD
US DollarChinese Yuan1 USD = 6.832 CNY1 CNY = 0.146 USD
EuroJapanese Yen1 EUR = 111.720 JPY1 JPY = 0.009 EUR
EuroPound Sterling1 EUR = 0.849 GBP1 GBP = 1.178 EUR
EuroAustralian Dollar1 EUR = 1.448 AUD1 AUD = 0.691 EUR
EuroCanadian Dollar1 EUR = 1.293 CAD1 CAD = 0.773 EUR
EuroSwiss Franc1 EUR = 1.422 CHF1 CHF = 0.703 EUR
EuroChinese Yuan1 EUR = 8.382 CNY1 CNY = 0.119 EUR
Japanese YenPound Sterling1 JPY = 0.753 GBP1 GBP = 1.328 JPY
Japanese YenAustralian Dollar1 JPY = 1.294 AUD1 AUD = 0.773 JPY
Japanese YenCanadian Dollar1 JPY = 1.149 CAD1 CAD = 0.871 JPY
Japanese YenSwiss Franc1 JPY = 1.265 CHF1 CHF = 0.790 JPY
Pound SterlingAustralian Dollar1 GBP = 1.704 AUD1 AUD = 0.587 GBP
Pound SterlingCanadian Dollar1 GBP = 1.523 CAD1 CAD = 0.657 GBP
Pound SterlingSwiss Franc1 GBP = 1.675 CHF1 CHF = 0.597 GBP
Pound SterlingChinese Yuan1 GBP = 9.870 CNY1 CNY = 0.101 GBP
Australian DollarCanadian Dollar1 AUD = 0.893 CAD1 CAD = 1.120 AUD
Australian DollarSwiss Franc1 AUD = 0.982 CHF1 CHF = 1.018 AUD
Australian DollarChinese Yuan1 AUD = 5.788 CNY1 CNY = 0.173 AUD
Canadian DollarSwiss Franc1 CAD = 1.097 CHF1 CHF = 0.912 CAD
Canadian DollarChinese Yuan1 CAD = 6.479 CNY1 CNY = 0.154 CAD
Swiss FrancChinese Yuan1 CHF = 5.893 CNY1 CNY = 0.170 CHF

See what else happened on May 28th, 2010