Financial news on October 31st, 2006

Business and Financial news
$6 Billion Bid for American Power Conversion

Schneider Electric, a French manufacturer, said Monday that it would buy American Power Conversion for $6.1 billion. Read more..

By HEATHER TIMMONS - The New York Times

A $700 Million Hedge Fund, Down From $3 Billion, Says It Will Close

The closing of the fund highlights how sensitive hedge fund investors have become to weak performance after last month’s blow-up of Amaranth Advisors. Read more..

By LANDON THOMAS Jr - The New York Times

A Home Valuation Web Site Is Accused of Discrimination, which provides free home valuations, has been accused of undervaluing the homes in black and Latino neighborhoods. Read more..

By DAMON DARLIN - The New York Times

And You Think That You Worry About Your Bags Spilling Open

Free condoms from the International AIDS Conference in Toronto, stuffed into all my bags as gifts for friends, turned the routine trip home to New York into an adventure. Read more..

By THE NEW YORK TIMES - The New York Times

Free to a Good Country

The Pentagon runs a little-publicized giveaway and tag sale program to clean out excess equipment that ranges from jets to battleships, often free to America's allies. Read more..

By LESLIE WAYNE - The New York Times

Memo Pad

BUSINESS TRAVEL IN 2007 Get ready to hear more from your corporate travel manager next year. As airlines fill more seats and raise fares and hotels in business centers continue raising already high rates, companies are being advised by American Ex... Read more..

By JOE SHARKEY - The New York Times

Merck Buys Maker of Gene-Silencing Drugs

Merck & Company will pay $1.1 billion to acquire Sirna Therapeutics, one of the leading companies pursuing technology to inactivate particular genes. Read more..

By ANDREW POLLACK - The New York Times

Newspaper Circulation Falls Sharply

The decline, one of the steepest on record, adds to the woes of a mature industry beset by layoffs and the possible sale of some of its flagships. Read more..

By KATHARINE Q. SEELYE - The New York Times

Profit at Verizon Bolstered by Wireless Unit

Verizon Wireless overtook Cingular Wireless as the nation’s largest mobile phone carrier ranked by revenue. Read more..

By KEN BELSON - The New York Times

S.E.C. Sues Ex-Officials of Delphi

The civil fraud charges were filed against nine former executives, but the Delphi Corporation itself will not be fined because of a settlement reached with the S.E.C. Read more..

By NICK BUNKLEY - The New York Times

Stock Markets

Values are reported in US Dollars

StockTicker symbolOpenHighLowCloseVolume
Cisco SystemsCSCO24.1624.3924.0224.1345.2M
Verizon CommunicationsVZ37.3637.4136.2037.0031.7M
Oracle Corp.ORCL18.5418.6818.4118.4728.3M
General ElectricGE35.2835.3534.9235.1126.6M
AT&T Inc.T34.1034.3133.5734.2524.7M
Wal-Mart StoresWMT49.6049.7849.1249.2817.6M
Procter & GamblePG62.3863.5362.2163.3914.9M
Home DepotHD37.2537.4736.9537.3314.5M
HP Inc.HPQ38.9339.1038.5038.7412.6M
JPMorgan ChaseJPM47.7848.0847.4347.4412.6M
Johnson & JohnsonJNJ67.8067.8067.2367.4012M
Wells Fargo & Co.WFC36.4936.7336.1836.2911.5M
Abbott LaboratoriesABT47.5047.6047.0847.5111.4M
Bristol-Myers SquibbBMY24.4124.8124.2524.759.8M
International Business MachinesIBM91.5092.6891.5092.339.27M
Walt Disney & Co.DIS31.8331.8831.3331.467.54M
UnitedHealth GroupUNH49.1049.2948.5548.786.35M
United TechnologiesUTX65.8266.1165.5365.724.16M
Gilead SciencesGILD69.2069.8568.5168.902.88M
Union PacificUNP90.9391.5290.0690.632.08M
Berkshire HathawayBRK.B3510.003522.003496.003515.0016K
Exchange Rates of October 31st, 2006
CurrenciesExchange Rates
US DollarJapanese Yen1 USD = 116.960 JPY1 JPY = 0.009 USD
US DollarCanadian Dollar1 USD = 1.122 CAD1 CAD = 0.891 USD
US DollarSwiss Franc1 USD = 1.244 CHF1 CHF = 0.804 USD
US DollarChinese Yuan1 USD = 7.879 CNY1 CNY = 0.127 USD
EuroJapanese Yen1 EUR = 149.260 JPY1 JPY = 0.007 EUR
EuroPound Sterling1 EUR = 0.669 GBP1 GBP = 1.495 EUR
EuroAustralian Dollar1 EUR = 1.649 AUD1 AUD = 0.607 EUR
EuroCanadian Dollar1 EUR = 1.432 CAD1 CAD = 0.699 EUR
EuroSwiss Franc1 EUR = 1.588 CHF1 CHF = 0.630 EUR
Japanese YenPound Sterling1 JPY = 0.448 GBP1 GBP = 2.232 JPY
Japanese YenAustralian Dollar1 JPY = 1.104 AUD1 AUD = 0.906 JPY
Japanese YenCanadian Dollar1 JPY = 0.959 CAD1 CAD = 1.043 JPY
Japanese YenSwiss Franc1 JPY = 1.063 CHF1 CHF = 0.940 JPY
Pound SterlingAustralian Dollar1 GBP = 2.465 AUD1 AUD = 0.406 GBP
Pound SterlingCanadian Dollar1 GBP = 2.140 CAD1 CAD = 0.467 GBP
Pound SterlingSwiss Franc1 GBP = 2.372 CHF1 CHF = 0.422 GBP
Australian DollarCanadian Dollar1 AUD = 0.868 CAD1 CAD = 1.152 AUD
Australian DollarSwiss Franc1 AUD = 0.962 CHF1 CHF = 1.040 AUD
Canadian DollarSwiss Franc1 CAD = 1.108 CHF1 CHF = 0.902 CAD

See what else happened on October 31st, 2006