Financial news on October 28th, 2010

Business and Financial news
Airline Unions Seek a Share of the Industry Gains

Labor talks with the newly merged United and Continental Airlines could serve as a bellwether for the industry. Read more..

By JAD MOUAWAD - The New York Times

Bnter Offers a Way to Share Text Conversations

The co-founder of Texts From Last Night, a site that publishes anonymous text submissions from users capturing the hilarious and often unspeakable moments from the prior evening, is now launching Bnter, which offers a way, she says, to “add context to those texts.” Read more..

By DEALBOOK - The New York Times

Boston Scientific Sells Unit to Stryker for $1.5 Billion

Boston Scientific on Thursday agreed to sell its neurovascular business to Stryker for $1.5 billion in cash, as the medical devices maker seeks to focus on core operations. Read more..

By DEALBOOK - The New York Times

Dubai Faces Environmental Problems After Growth

The emirate offers a cautionary tale in the pitfalls of constructing metropolises in the parched desert. Read more..

By LIZ ALDERMAN - The New York Times

Icahn Buys More MGM Debt Ahead of Spyglass Vote

Carl C. Icahn on Wednesday said he was buying more debt in Metro-Goldwyn-Mayer to add to his stake as he seeks to block a pending deal between the studio and Spyglass Entertainment, Reuters reported. Read more..

By DEALBOOK - The New York Times

I.C.B.C. Buys 60% of AXA’s Chinese Joint Venture

The Industrial & Commercial Bank of China, the world’s largest lender by market value, agreed to buy a 60 percent stake in AXA’s China insurance venture in its latest foray outside banking, Bloomberg News reported. Read more..

By DEALBOOK - The New York Times

In Spain, Homes Are Taken, but Debt Stays

Laws in Spain are saddling some homeowners with mountains of inescapable debt as the economy falters. Read more..

By DEALBOOK - The New York Times

Lions Gate Sues Icahn Over MGM Deal

Lions Gate Entertainment sued Carl C. Icahn over his past opposition to a deal with MGM, contending that the billionaire investor was “secretly plotting” to merge the studios. Read more..

By DEALBOOK - The New York Times

Morning Take-Out

Why analysts are always sanguine; America’s most foreclosed cities; a journal of the foreclosure crisis. Read more..

By DEALBOOK - The New York Times

Oracle Takes 10.2% Stake in Mellanox

Oracle announced it has bought a 10.2 percent stake in Mellanox on the open market, but said it has no plans to make an unsolicited offer to take over the Israeli firm, Reuters reported. Read more..

By DEALBOOK - The New York Times

Stock Markets

Values are reported in US Dollars

StockTicker symbolOpenHighLowCloseVolume
General ElectricGE16.2216.3016.0316.0844.3M
Oracle Corp.ORCL28.8229.4828.5029.3635.1M
Cisco SystemsCSCO23.4323.4923.0723.1933.7M
JPMorgan ChaseJPM37.7037.9637.3337.5130.6M
Wells Fargo & Co.WFC25.8425.9625.6125.9424M
AT&T Inc.T28.5428.6428.4128.5021.8M
Verizon CommunicationsVZ32.7032.7532.2132.4115.4M
HP Inc.HPQ42.5742.8042.1642.6615.2M
Walt Disney & Co.DIS35.9536.5235.9436.5114.2M
Abbott LaboratoriesABT51.8452.1351.3651.7513.6M
Johnson & JohnsonJNJ63.9464.1163.5163.5610.1M
Procter & GamblePG63.1363.5663.0763.199.23M
Bristol-Myers SquibbBMY26.9727.0326.7326.998.28M
Wal-Mart StoresWMT54.1954.2353.5954.088.18M
Home DepotHD31.1831.2830.8831.197.93M
Gilead SciencesGILD39.5739.9839.5039.866.67M
UnitedHealth GroupUNH36.2836.4035.9536.256.28M
International Business MachinesIBM141.84141.95140.42140.905.48M
Berkshire HathawayBRK.B81.0881.1080.0780.104.38M
United TechnologiesUTX75.0175.3873.9874.703.14M
Union PacificUNP86.1186.7084.9386.052.48M
Exchange Rates of October 28th, 2010
CurrenciesExchange Rates
US DollarJapanese Yen1 USD = 81.000 JPY1 JPY = 0.012 USD
US DollarCanadian Dollar1 USD = 1.021 CAD1 CAD = 0.980 USD
US DollarSwiss Franc1 USD = 0.983 CHF1 CHF = 1.017 USD
US DollarChinese Yuan1 USD = 6.688 CNY1 CNY = 0.150 USD
EuroJapanese Yen1 EUR = 112.850 JPY1 JPY = 0.009 EUR
EuroPound Sterling1 EUR = 0.874 GBP1 GBP = 1.144 EUR
EuroAustralian Dollar1 EUR = 1.424 AUD1 AUD = 0.702 EUR
EuroCanadian Dollar1 EUR = 1.422 CAD1 CAD = 0.703 EUR
EuroSwiss Franc1 EUR = 1.369 CHF1 CHF = 0.730 EUR
EuroChinese Yuan1 EUR = 9.315 CNY1 CNY = 0.107 EUR
Japanese YenPound Sterling1 JPY = 0.774 GBP1 GBP = 1.292 JPY
Japanese YenAustralian Dollar1 JPY = 1.261 AUD1 AUD = 0.793 JPY
Japanese YenCanadian Dollar1 JPY = 1.259 CAD1 CAD = 0.794 JPY
Japanese YenSwiss Franc1 JPY = 1.213 CHF1 CHF = 0.824 JPY
Pound SterlingAustralian Dollar1 GBP = 1.629 AUD1 AUD = 0.614 GBP
Pound SterlingCanadian Dollar1 GBP = 1.626 CAD1 CAD = 0.615 GBP
Pound SterlingSwiss Franc1 GBP = 1.567 CHF1 CHF = 0.638 GBP
Pound SterlingChinese Yuan1 GBP = 10.647 CNY1 CNY = 0.094 GBP
Australian DollarCanadian Dollar1 AUD = 0.998 CAD1 CAD = 1.002 AUD
Australian DollarSwiss Franc1 AUD = 0.962 CHF1 CHF = 1.040 AUD
Australian DollarChinese Yuan1 AUD = 6.538 CNY1 CNY = 0.153 AUD
Canadian DollarSwiss Franc1 CAD = 0.963 CHF1 CHF = 1.038 CAD
Canadian DollarChinese Yuan1 CAD = 6.552 CNY1 CNY = 0.153 CAD
Swiss FrancChinese Yuan1 CHF = 6.797 CNY1 CNY = 0.147 CHF

See what else happened on October 28th, 2010