Financial news on June 29th, 2011

Business and Financial news
Breast Cancer Patients Plead for Avastin Approval

With breast cancer patients imploring the Food and Drug Administration to change course, the agency’s staff argued that the drug Avastin should lose its approval as a treatment for that disease. Read more..

By ANDREW POLLACK - The New York Times

Commercial Lenders Take Step Into Riskier Deals

More financial institutions are looking for lending opportunities, but viable loans remain scarce. Read more..

By JULIE SATOW - The New York Times

Dodd-Frank Rekindles Old Debate

A classic American political debate — state versus federal law — is surfacing in the banking sector, as regulators work to put in place the financial reforms passed a year ago in Washington. Read more..

By LOUISE STORY - The New York Times

Eugene H. Kummel, Who Led Major Ad Agency in Expansion, Dies at 88

Under Mr. Kummel’s leadership, McCann Erickson’s billings rose from about $170 million a year in 1973 to $1.8 billion by his retirement in 1987. Read more..

By DENNIS HEVESI - The New York Times

Former Top Lehman Banker Arrested

Bradley H. Jack, a former investment banking chief at Lehman Brothers, was recently arrested after he used a forged prescription to obtain Oxycontin and Ritalin pills from a CVS store in Connecticut, the police said. Read more..

By SUSANNE CRAIG - The New York Times

Making the Argument for Greece’s Austerity Plan

Without agreement on an austerity plan, Greece will get no money. The government will default, resulting in a run on banks and an even deeper recession. Read more..

By HUGO DIXON - The New York Times

Morning Take-Out

Highlights from the DealBook newsletter. Read more..

By DEALBOOK - The New York Times

New York Court Permits Banks to Sue MBIA

The banks are suing the bond insurer, claiming that its overhaul was intended to defraud policyholders. Read more..

By BLOOMBERG NEWS - The New York Times

Tepco Quells Push by Shareholders to End Nuclear Program

Despite the hostility of a rowdy crowd, the operator of the Fukushima Daiichi plant beat a motion for it to abandon its nuclear program. Read more..

By HIROKO TABUCHI - The New York Times

U.S.-India Talks Yield Little for Trade

Economic discussions that began last year were called cordial, but produced no trade objectives. Read more..


Stock Markets

Values are reported in US Dollars

StockTicker symbolOpenHighLowCloseVolume
Cisco SystemsCSCO15.1815.4015.1215.3447.5M
JPMorgan ChaseJPM40.0440.5639.9240.4544.8M
General ElectricGE18.5418.6118.4018.5638.8M
Wells Fargo & Co.WFC27.9028.1327.5328.0738.5M
Oracle Corp.ORCL32.4032.6832.2132.4327.3M
AT&T Inc.T31.1631.3831.0931.2620M
HP Inc.HPQ35.1735.6035.0935.5513.5M
General MotorsGM30.7930.7930.2530.3012.7M
Home DepotHD36.1536.3135.7935.9812.3M
Procter & GamblePG62.8762.9062.3662.5511.4M
Abbott LaboratoriesABT52.3052.3251.9852.1611.3M
Bristol-Myers SquibbBMY28.2828.6428.2728.5411.2M
Verizon CommunicationsVZ36.7336.8036.5936.7210.3M
Walt Disney & Co.DIS38.1138.4337.7338.359.61M
Johnson & JohnsonJNJ66.2366.5965.9366.319.23M
Wal-Mart StoresWMT52.6252.7952.4352.648.87M
Gilead SciencesGILD41.5041.6841.2541.396.76M
UnitedHealth GroupUNH51.8151.8851.0751.545.63M
United TechnologiesUTX87.2587.2585.9986.474.22M
Berkshire HathawayBRK.B76.5577.0676.2777.034.06M
International Business MachinesIBM170.61170.86169.82170.543.82M
Union PacificUNP102.43104.22101.92103.002.63M
Exchange Rates of June 29th, 2011
CurrenciesExchange Rates
US DollarJapanese Yen1 USD = 80.810 JPY1 JPY = 0.012 USD
US DollarCanadian Dollar1 USD = 0.970 CAD1 CAD = 1.031 USD
US DollarSwiss Franc1 USD = 0.834 CHF1 CHF = 1.199 USD
US DollarChinese Yuan1 USD = 6.464 CNY1 CNY = 0.155 USD
EuroJapanese Yen1 EUR = 116.630 JPY1 JPY = 0.009 EUR
EuroPound Sterling1 EUR = 0.899 GBP1 GBP = 1.113 EUR
EuroAustralian Dollar1 EUR = 1.353 AUD1 AUD = 0.739 EUR
EuroCanadian Dollar1 EUR = 1.400 CAD1 CAD = 0.714 EUR
EuroSwiss Franc1 EUR = 1.205 CHF1 CHF = 0.830 EUR
EuroChinese Yuan1 EUR = 9.330 CNY1 CNY = 0.107 EUR
Japanese YenPound Sterling1 JPY = 0.770 GBP1 GBP = 1.298 JPY
Japanese YenAustralian Dollar1 JPY = 1.159 AUD1 AUD = 0.863 JPY
Japanese YenCanadian Dollar1 JPY = 1.200 CAD1 CAD = 0.834 JPY
Japanese YenSwiss Franc1 JPY = 1.033 CHF1 CHF = 0.968 JPY
Pound SterlingAustralian Dollar1 GBP = 1.505 AUD1 AUD = 0.665 GBP
Pound SterlingCanadian Dollar1 GBP = 1.558 CAD1 CAD = 0.642 GBP
Pound SterlingSwiss Franc1 GBP = 1.340 CHF1 CHF = 0.746 GBP
Pound SterlingChinese Yuan1 GBP = 10.383 CNY1 CNY = 0.096 GBP
Australian DollarCanadian Dollar1 AUD = 1.035 CAD1 CAD = 0.966 AUD
Australian DollarSwiss Franc1 AUD = 0.890 CHF1 CHF = 1.123 AUD
Australian DollarChinese Yuan1 AUD = 6.899 CNY1 CNY = 0.145 AUD
Canadian DollarSwiss Franc1 CAD = 0.860 CHF1 CHF = 1.163 CAD
Canadian DollarChinese Yuan1 CAD = 6.664 CNY1 CNY = 0.150 CAD
Swiss FrancChinese Yuan1 CHF = 7.744 CNY1 CNY = 0.129 CHF

See what else happened on June 29th, 2011