Financial news on December 29th, 2006

Business and Financial news
AT&T Offers Concessions on BellSouth Buyout

The concessions are expected to satisfy the two Democrats on the F.C.C. and lead to approval of the company’s $85 billion buyout of the BellSouth Corporation. Read more..

By VIKAS BAJAJ - The New York Times

Does S.E.C. Know What It Is Doing?

The whole fiasco over the new reporting rule for executive compensation makes the S.E.C. appear to have great difficulty understanding what it is doing. Read more..

By FLOYD NORRIS - The New York Times

F.D.A. Says Food From Cloned Animals Is Safe

The finding could make the U.S. the first country to allow products from cloned livestock to be sold in grocery stores. Read more..


France: Fines Issued in Bond Sale

GLG Partners, a European hedge fund manager, and Deutsche Bank, Germany’s biggest bank, were fined by French market regulators on accusations of trading abuses stemming from a convertible bond sale in 2002. GLG plans to appeal the decision, a comp... Read more..

By BLOOMBERG NEWS - The New York Times

Homeowners Cut Prices, Drawing Some Buyers Back

The sales rate for previously owned homes rose in November for the second straight month as homeowners cut their prices. Read more..

By JEREMY W. PETERS - The New York Times

Interim Pact Averts Comair Pilots’ Strike

Comair Holdings reached a tentative agreement with its pilots to avoid a strike over pay cuts and keep both sides talking. Read more..

By BLOOMBERG NEWS - The New York Times

Pay Packages Allow Executives to Jump Ship With Less Risk

Companies are luring executives with bonuses and stock options that they are abandoning at their old employers. Read more..

By JULIE CRESWELL - The New York Times

Russia: Web Search Engine Changes Hands

A Russian billionaire, Vladimir Potanin, won regulatory approval to take control of Rambler Media, which runs a large Internet search engine in Russia, to tap the growth in Web advertising. Mr. Potanin will take control of Rambler through the PM I... Read more..

By BLOOMBERG NEWS - The New York Times

The Crystal Ball: What’s Ahead in Ads

Some of the most common scenes for 2007 that advertising executives see in their crystal balls. Read more..

By LOUISE STORY - The New York Times

The Private Lives of Hedge Funds

Toasting the triumphs and travails of the secretive world of hedge funds as the year draws to a close. Read more..

By JENNY ANDERSON - The New York Times

Stock Markets

Values are reported in US Dollars

StockTicker symbolOpenHighLowCloseVolume
AT&T Inc.T35,6636,2135,6535,7528.6M
Cisco SystemsCSCO27,3327,6327,2927,3327.1M
General ElectricGE37,3737,5237,1637,2125.3M
Oracle Corp.ORCL17,1217,3817,0817,1423.6M
Home DepotHD39,6640,2939,6540,1611.6M
Wal-Mart StoresWMT46,2046,6146,0346,1810.8M
Verizon CommunicationsVZ37,3737,6437,1537,2410.3M
Walt Disney & Co.DIS34,4234,6134,2734,279.83M
JPMorgan ChaseJPM48,8948,9148,2748,309.6M
Abbott LaboratoriesABT48,8048,9948,5048,718.39M
Bristol-Myers SquibbBMY26,2826,3626,1726,328M
HP Inc.HPQ41,3641,6541,1641,196.28M
Wells Fargo & Co.WFC35,8235,9135,4835,565.99M
Johnson & JohnsonJNJ66,1766,5765,8666,025.88M
International Business MachinesIBM97,0097,8896,8397,154.46M
Procter & GamblePG64,3664,7364,1064,274.42M
UnitedHealth GroupUNH53,4454,0453,4053,734.41M
Gilead SciencesGILD65,2365,8464,7564,931.97M
United TechnologiesUTX62,8063,0162,4562,521.9M
Union PacificUNP92,0092,3791,6992,02906K
Berkshire HathawayBRK.B3660,003666,003626,003666,008.6K
Exchange Rates of December 29th, 2006
CurrenciesExchange Rates
US DollarJapanese Yen1 USD = 119,050 JPY1 JPY = 0,008 USD
US DollarCanadian Dollar1 USD = 1,166 CAD1 CAD = 0,858 USD
US DollarSwiss Franc1 USD = 1,219 CHF1 CHF = 0,820 USD
US DollarChinese Yuan1 USD = 7,808 CNY1 CNY = 0,128 USD
EuroJapanese Yen1 EUR = 157,150 JPY1 JPY = 0,006 EUR
EuroPound Sterling1 EUR = 0,674 GBP1 GBP = 1,484 EUR
EuroAustralian Dollar1 EUR = 1,673 AUD1 AUD = 0,598 EUR
EuroCanadian Dollar1 EUR = 1,539 CAD1 CAD = 0,650 EUR
EuroSwiss Franc1 EUR = 1,609 CHF1 CHF = 0,622 EUR
Japanese YenPound Sterling1 JPY = 0,429 GBP1 GBP = 2,334 JPY
Japanese YenAustralian Dollar1 JPY = 1,064 AUD1 AUD = 0,940 JPY
Japanese YenCanadian Dollar1 JPY = 0,979 CAD1 CAD = 1,022 JPY
Japanese YenSwiss Franc1 JPY = 1,024 CHF1 CHF = 0,977 JPY
Pound SterlingAustralian Dollar1 GBP = 2,483 AUD1 AUD = 0,403 GBP
Pound SterlingCanadian Dollar1 GBP = 2,284 CAD1 CAD = 0,438 GBP
Pound SterlingSwiss Franc1 GBP = 2,388 CHF1 CHF = 0,419 GBP
Australian DollarCanadian Dollar1 AUD = 0,919 CAD1 CAD = 1,088 AUD
Australian DollarSwiss Franc1 AUD = 0,961 CHF1 CHF = 1,040 AUD
Canadian DollarSwiss Franc1 CAD = 1,045 CHF1 CHF = 0,957 CAD

See what else happened on December 29th, 2006