Financial news on June 29th, 2007

Business and Financial news
Attracting Private Equity Becomes a National Sport in Europe

Private equity markets in Europe have faced the same issue of private equity taxation with fiery debate and quiet lobbying. Read more..


Chiefs Defend Slow Network for the iPhone

Apple and AT&T defended a decision not to use a faster but more limited network for the phone’s wireless Internet connection. Read more..

By JOHN MARKOFF - The New York Times

I.M.F.’s Chief Will Resign 2 Years Early

Rodrigo de Rato will quit his post in October, two years before his term ends, citing “personal reasons.” Read more..

By BLOOMBERG NEWS - The New York Times

Journal Reporters Protest Over Murdoch Bid

Reporters are protesting the expected sale of the newspaper’s parent, Dow Jones & Company, to Rupert Murdoch’s News Corporation, and the fact that they do not have a contract. Read more..

By RICHARD PÉREZ-PEÑA - The New York Times

Long-Awaited iPhone Goes on Sale

Customers eager to buy the cellphone had waited in long lines in front of Apple stores in New York and other cities. Read more..

By JEREMY W. PETERS - The New York Times

Love the iPhone, buy Google?

Wowed by the iPhone? Then buy Google, not Apple, argues a Wall Street analyst. Read more..

By SAUL HANSELL - The New York Times

Lower Costs Help Rite Aid to Double Profit

The drugstore chain said that quarterly profit more than doubled, helped by lower costs for store closings and labor. Read more..

By BLOOMBERG NEWS - The New York Times

Salvaging a Prudent Name

James E. Cayne, Bear Stearns’ chief, has seen the firm’s carefully honed reputation suffer from the near collapse of two hedge funds. Read more..

By LANDON THOMAS Jr - The New York Times

So What’s a Little Line Rage Between iPhone Maniacs?

By noon today outside the Apple Store at a pleasant outdoor mall in Corte Madera, 20 minutes north of San Francisco, a touch of line rage had already set in. When five big young guys sauntered up to the line where 90 of us had already been standing — some since 6 a.m. yesterday morning […] Read more..

By KATIE HAFNER - The New York Times

The End of the Bargain Era?

Economists argue over the impact of minimum-price retail agreements. We want to know: will prices still be deep discounted? Read more..

By DAMON DARLIN - The New York Times

Stock Markets

Values are reported in US Dollars

StockTicker symbolOpenHighLowCloseVolume
Cisco SystemsCSCO27.9828.0627.6527.8545M
General ElectricGE38.2338.7038.0038.2844.7M
AT&T Inc.T40.9541.5440.8441.5037.6M
Oracle Corp.ORCL19.9520.0219.5419.7131.5M
JPMorgan ChaseJPM49.2349.3048.1048.4521.8M
Wells Fargo & Co.WFC35.5036.1534.9535.1714.6M
Wal-Mart StoresWMT48.5048.6547.8748.1114.1M
HP Inc.HPQ44.8045.4244.2644.6213.9M
Home DepotHD39.5439.9639.1239.3513.7M
Verizon CommunicationsVZ41.1541.5340.8541.1712.5M
Johnson & JohnsonJNJ61.5861.9461.2161.6212M
Bristol-Myers SquibbBMY31.9031.9031.2631.5612M
Walt Disney & Co.DIS33.8934.4633.7134.1412M
Procter & GamblePG61.4561.7060.7661.1912M
Abbott LaboratoriesABT53.6955.1253.2553.5511.3M
UnitedHealth GroupUNH52.5053.0050.7051.1410.1M
International Business MachinesIBM105.96106.58104.10105.257.02M
Gilead SciencesGILD39.6039.7438.3838.806.54M
United TechnologiesUTX71.5871.7170.5070.934.03M
Union PacificUNP115.72116.79114.38115.151.51M
Berkshire HathawayBRK.B3582.003605.003582.003605.009.7K
Exchange Rates of June 29th, 2007
CurrenciesExchange Rates
US DollarJapanese Yen1 USD = 123.160 JPY1 JPY = 0.008 USD
US DollarCanadian Dollar1 USD = 1.065 CAD1 CAD = 0.939 USD
US DollarSwiss Franc1 USD = 1.221 CHF1 CHF = 0.819 USD
US DollarChinese Yuan1 USD = 7.614 CNY1 CNY = 0.131 USD
EuroJapanese Yen1 EUR = 166.800 JPY1 JPY = 0.006 EUR
EuroPound Sterling1 EUR = 0.674 GBP1 GBP = 1.484 EUR
EuroAustralian Dollar1 EUR = 1.594 AUD1 AUD = 0.627 EUR
EuroCanadian Dollar1 EUR = 1.442 CAD1 CAD = 0.693 EUR
EuroSwiss Franc1 EUR = 1.654 CHF1 CHF = 0.605 EUR
Japanese YenPound Sterling1 JPY = 0.404 GBP1 GBP = 2.476 JPY
Japanese YenAustralian Dollar1 JPY = 0.955 AUD1 AUD = 1.047 JPY
Japanese YenCanadian Dollar1 JPY = 0.864 CAD1 CAD = 1.157 JPY
Japanese YenSwiss Franc1 JPY = 0.991 CHF1 CHF = 1.009 JPY
Pound SterlingAustralian Dollar1 GBP = 2.365 AUD1 AUD = 0.423 GBP
Pound SterlingCanadian Dollar1 GBP = 2.140 CAD1 CAD = 0.467 GBP
Pound SterlingSwiss Franc1 GBP = 2.453 CHF1 CHF = 0.408 GBP
Australian DollarCanadian Dollar1 AUD = 0.904 CAD1 CAD = 1.106 AUD
Australian DollarSwiss Franc1 AUD = 1.037 CHF1 CHF = 0.964 AUD
Canadian DollarSwiss Franc1 CAD = 1.146 CHF1 CHF = 0.872 CAD

See what else happened on June 29th, 2007