Financial news on December 4th, 2007

Business and Financial news
As Scripted Shows Dry Up, Reality Sets In

As the writers’ strike halts much scripted television production, networks are increasingly relying on unscripted fare to fill the programming gaps. Read more..

By BRIAN STELTER - The New York Times

F.D.A. Criticizes Avastin Use for Breast Cancer

Genentech’s drug Avastin did not help women with breast cancer live meaningfully longer, and it caused significant side effects, the Food and Drug Administration said Monday. Read more..

By ANDREW POLLACK - The New York Times

Florida Is Advised on Saving a State Fund

BlackRock, the asset management firm hired to advise Florida on a state pool whose subprime-tainted holdings led to withdrawal of almost half its $27 billion assets, recommended yesterday that the remaining holdings be split into two entities to e... Read more..

By BLOOMBERG NEWS - The New York Times

Ford and G.M. Plan to Trim 2008 Output

The decisions came as both General Motors and Ford Motor Company are struggling to keep their respective turnaround plans on track. Read more..

By NICK BUNKLEY - The New York Times

Forecasters Say Madison Avenue Will Escape a Recession, Just Barely

The continuing strength of ad spending online — as well as the stimulative effects of the elections and the Summer Olympics — should keep the ad industry from suffering a recession in 2008. Read more..

By STUART ELLIOTT - The New York Times

German Bank Acts to Help Its Programs Tied to U.S. Mortgages

The German bank WestLB said Monday it would guarantee full liquidity to several of its investment vehicles that had put money into asset-backed securities. Read more..

By CARTER DOUGHERTY - The New York Times

Nokia and Universal’s Proposed Music Tax

The “Comes With Music” program just announced by Nokia, under which some cellphones will be bundled with the right to download an unlimited number of songs for a year, offers an interesting model for the music business. Read more..

By SAUL HANSELL - The New York Times

Paulson Sees Limited Aid in Rate Plan

The Bush administration’s effort to help borrowers in danger of defaulting on their subprime mortgages could help only a small number of those who took out such loans. Read more..

By EDMUND L. ANDREWS - The New York Times

The March of the iPhone Clones

Verizon’s new $49 Voyager phone is one of the first of the iPhone clones. How good is it? Read more..

By MATT RICHTEL - The New York Times

Tired of Corruption but Afraid of the Crackdown

Despite the enormity of its recurring scandals, Samsung is unlikely to go the way of Enron, in part because of its economic importance to South Korea. Read more..

By CHOE SANG-HUN - The New York Times

Stock Markets

Values are reported in US Dollars

StockTicker symbolOpenHighLowCloseVolume
Cisco SystemsCSCO27.4627.5026.8226.9671.5M
General ElectricGE36.7236.8236.0736.2558.8M
Oracle Corp.ORCL19.7520.1919.6820.0333.4M
Wells Fargo & Co.WFC31.7131.9531.1831.7623M
AT&T Inc.T38.5538.6837.8237.8619.4M
JPMorgan ChaseJPM44.6545.0944.0044.1519.3M
Home DepotHD28.3828.9428.0028.7918.3M
Wal-Mart StoresWMT47.7648.5647.4948.1916.5M
Verizon CommunicationsVZ42.9244.1642.9243.8014.9M
Abbott LaboratoriesABT56.5657.7156.5657.5012.9M
HP Inc.HPQ50.0451.4650.0150.7112.2M
Bristol-Myers SquibbBMY29.2229.4029.0029.0612.1M
UnitedHealth GroupUNH54.2754.9953.9054.339.49M
Walt Disney & Co.DIS32.9233.0732.4432.759.32M
Procter & GamblePG73.2373.8073.0473.299.19M
Johnson & JohnsonJNJ67.4468.2167.4067.948.11M
International Business MachinesIBM105.83107.42104.72106.636.36M
Gilead SciencesGILD45.5445.8545.0145.216.34M
United TechnologiesUTX74.8975.3974.3374.753.44M
Union PacificUNP125.81128.05125.25126.741.56M
Berkshire HathawayBRK.B4796.004823.004715.004822.5030.1K
Exchange Rates of December 4th, 2007
CurrenciesExchange Rates
US DollarJapanese Yen1 USD = 109.790 JPY1 JPY = 0.009 USD
US DollarCanadian Dollar1 USD = 1.011 CAD1 CAD = 0.989 USD
US DollarSwiss Franc1 USD = 1.117 CHF1 CHF = 0.896 USD
US DollarChinese Yuan1 USD = 7.399 CNY1 CNY = 0.135 USD
EuroJapanese Yen1 EUR = 162.110 JPY1 JPY = 0.006 EUR
EuroPound Sterling1 EUR = 0.717 GBP1 GBP = 1.395 EUR
EuroAustralian Dollar1 EUR = 1.689 AUD1 AUD = 0.592 EUR
EuroCanadian Dollar1 EUR = 1.492 CAD1 CAD = 0.670 EUR
EuroSwiss Franc1 EUR = 1.648 CHF1 CHF = 0.607 EUR
Japanese YenPound Sterling1 JPY = 0.442 GBP1 GBP = 2.263 JPY
Japanese YenAustralian Dollar1 JPY = 1.041 AUD1 AUD = 0.961 JPY
Japanese YenCanadian Dollar1 JPY = 0.920 CAD1 CAD = 1.087 JPY
Japanese YenSwiss Franc1 JPY = 1.016 CHF1 CHF = 0.984 JPY
Pound SterlingAustralian Dollar1 GBP = 2.356 AUD1 AUD = 0.425 GBP
Pound SterlingCanadian Dollar1 GBP = 2.082 CAD1 CAD = 0.480 GBP
Pound SterlingSwiss Franc1 GBP = 2.299 CHF1 CHF = 0.435 GBP
Australian DollarCanadian Dollar1 AUD = 0.883 CAD1 CAD = 1.132 AUD
Australian DollarSwiss Franc1 AUD = 0.975 CHF1 CHF = 1.025 AUD
Canadian DollarSwiss Franc1 CAD = 1.104 CHF1 CHF = 0.906 CAD

See what else happened on December 4th, 2007