Financial news on June 29th, 2010

Business and Financial news
Bank Fee Is Eliminated in Financial Bill

Congressional negotiators voted down a tax on big banks, instead adopting a new plan to pay the legislation’s cost. Read more..

By DAVID M. HERSZENHORN - The New York Times

Brown Reiterates Threat Against Overhaul Bill

Senator Scott Brown, Republican of Massachusetts, has again declared his opposition to the financial overhaul bill because of a tax it would impose on large financial institutions to cover billions of dollars in costs, Bloomberg Television reported on Tuesday. Read more..

By DEALBOOK - The New York Times

Byrd’s Death Complicates Democrat Strategy

The death of Senator Robert C. Byrd of West Virginia threw into doubt the ability of Democrats to win approval this week of a financial regulation bill. Read more..

By DEALBOOK - The New York Times

Elevation Said to Raise Facebook Stake

Elevation Partners, the private equity firm, has ponied up $120 million to buy five million shares in Facebook on the secondary market, TechCruch reported. Read more..

By DEALBOOK - The New York Times

Nicolas Hayek Dies at 82; His Swatch Saved an Industry

Mr. Hayek was the founder and the chairman of the Swatch Group, which made him one of Switzerland’s wealthiest men. Read more..

By MARGALIT FOX - The New York Times

Report Warns Banks Still Vulnerable to Crises

An organization that brings together most of the world’s major central banks said Monday that the easy money that has propped up the banking system during the financial crisis must soon be withdrawn — even as it warned that many banks are still in fragile health. Read more..

By DEALBOOK - The New York Times

S.E.C. Charges 2 Penny Stock Promoters With Scalping

The Securities and Exchange Commission on Tuesday charged two Web-savvy advisers with fraud for pumping up penny stocks that they were also selling — for at least $2.4 million in profit. Read more..

By MICHAEL J. DE LA MERCED - The New York Times

Stock Markets and the World Cup

International soccer results appear to affect stock market returns. In particular, losses lead to significant national market decline, according to a 2006 study. Read more..

By DEALBOOK - The New York Times

Supreme Court to Hear Janus Appeal

The Supreme Court said on Monday that it would hear an appeal by Janus Capital Group of a ruling that reinstated a class-action securities fraud lawsuit against the mutual fund company, Reuters reported. Read more..

By DEALBOOK - The New York Times

Stock Markets

Values are reported in US Dollars

StockTicker symbolOpenHighLowCloseVolume
General ElectricGE14.7514.7914.2714.48115M
Cisco SystemsCSCO22.1522.1921.4021.6269M
JPMorgan ChaseJPM37.9137.9136.8837.0656.7M
Wells Fargo & Co.WFC26.5726.6625.7925.9355.6M
AT&T Inc.T24.8624.9024.2724.4652.8M
Verizon CommunicationsVZ28.5629.1628.1528.6249.2M
Oracle Corp.ORCL22.0222.1021.5821.7534.2M
Home DepotHD29.1529.1528.4228.6322.8M
Bristol-Myers SquibbBMY25.4025.6125.1425.2922.3M
HP Inc.HPQ45.3545.6844.0244.3022.2M
Wal-Mart StoresWMT49.1749.2648.4348.9020.4M
Johnson & JohnsonJNJ58.9859.4258.6859.2420.2M
Berkshire HathawayBRK.B80.3081.4279.5580.0319.4M
Procter & GamblePG60.3360.5459.7560.3217.8M
Abbott LaboratoriesABT47.0047.0046.2546.6517.4M
Walt Disney & Co.DIS33.3133.3732.0532.3015.9M
UnitedHealth GroupUNH28.8829.0328.4628.6314.4M
International Business MachinesIBM127.35128.40124.12125.099.38M
Gilead SciencesGILD35.4035.6134.7434.979.09M
United TechnologiesUTX66.0966.7764.3264.977.03M
Union PacificUNP71.7771.7769.4770.135.12M
Exchange Rates of June 29th, 2010
CurrenciesExchange Rates
US DollarJapanese Yen1 USD = 88.520 JPY1 JPY = 0.011 USD
US DollarCanadian Dollar1 USD = 1.054 CAD1 CAD = 0.948 USD
US DollarSwiss Franc1 USD = 1.082 CHF1 CHF = 0.924 USD
US DollarChinese Yuan1 USD = 6.799 CNY1 CNY = 0.147 USD
EuroJapanese Yen1 EUR = 107.890 JPY1 JPY = 0.009 EUR
EuroPound Sterling1 EUR = 0.809 GBP1 GBP = 1.236 EUR
EuroAustralian Dollar1 EUR = 1.435 AUD1 AUD = 0.697 EUR
EuroCanadian Dollar1 EUR = 1.285 CAD1 CAD = 0.778 EUR
EuroSwiss Franc1 EUR = 1.319 CHF1 CHF = 0.758 EUR
EuroChinese Yuan1 EUR = 8.282 CNY1 CNY = 0.121 EUR
Japanese YenPound Sterling1 JPY = 0.750 GBP1 GBP = 1.334 JPY
Japanese YenAustralian Dollar1 JPY = 1.329 AUD1 AUD = 0.752 JPY
Japanese YenCanadian Dollar1 JPY = 1.191 CAD1 CAD = 0.840 JPY
Japanese YenSwiss Franc1 JPY = 1.222 CHF1 CHF = 0.818 JPY
Pound SterlingAustralian Dollar1 GBP = 1.773 AUD1 AUD = 0.564 GBP
Pound SterlingCanadian Dollar1 GBP = 1.588 CAD1 CAD = 0.630 GBP
Pound SterlingSwiss Franc1 GBP = 1.629 CHF1 CHF = 0.614 GBP
Pound SterlingChinese Yuan1 GBP = 10.225 CNY1 CNY = 0.098 GBP
Australian DollarCanadian Dollar1 AUD = 0.896 CAD1 CAD = 1.116 AUD
Australian DollarSwiss Franc1 AUD = 0.919 CHF1 CHF = 1.088 AUD
Australian DollarChinese Yuan1 AUD = 5.768 CNY1 CNY = 0.173 AUD
Canadian DollarSwiss Franc1 CAD = 1.026 CHF1 CHF = 0.975 CAD
Canadian DollarChinese Yuan1 CAD = 6.444 CNY1 CNY = 0.155 CAD
Swiss FrancChinese Yuan1 CHF = 6.281 CNY1 CNY = 0.159 CHF

See what else happened on June 29th, 2010