Financial news on August 05, 2008

Business and Financial news
A Mission to Help Those Scarred by War, Born of a Family’s Grief

Waiting to leave their planes, passengers saw the coffin of a military officer killed in Iraq been unloaded from a commercial flight. Read more..

By JOAN RAYMOND - The New York Times

A Ruling May Pave the Way for Broader Use of DVR

A new court ruling in New York said that the so-called network DVR, which records programs on a faraway computer rather than on the device itself, does not violate copyright law. Read more..

By BRIAN STELTER - The New York Times

HSBC Warns of Challenges as Its Profit Drops 29%

The biggest European bank reported net income of $7.7 billion in the first half of 2008 as loan impairment charges and other credit risk provisions increased 58 percent. Read more..

By JULIA WERDIGIER - The New York Times

ImClone Says Bid From Bristol-Myers Undervalues the Company

ImClone Systems, the maker of the anticancer drug Erbitux, said a $4.5 billion takeover bid by Bristol-Myers Squibb “substantially undervalues” the company. Read more..

By MICHAEL J. de la MERCED - The New York Times

Inflation Takes Steam Out of Rise in Spending

Consumer spending increased 0.6 percent in June, but prices rose 0.8 percent, the government reported, indicating months of challenges to come. Read more..

By CATHERINE RAMPELL - The New York Times

JetBlue Starts Selling Blankets and Pillows

No more free pillows and blankets on JetBlue Airways, but they will be sold for $7 on flights over two hours. Read more..

By MICHELINE MAYNARD - The New York Times

Merrill’s Chief Defends Recent Sale

Merrill Lynch’s chief said he sold mortgage investments at fire-sale prices to bolster employee morale. Read more..

By LOUISE STORY - The New York Times

Motorola Names Leader for Mobile Phone Unit

Sanjay K. Jha of Qualcomm was tapped to head Motorola’s troubled mobile phone division and share chief executive duties for the entire company in an unusual power-sharing arrangement. Read more..

By LAURA M. HOLSON - The New York Times

On Wall St., Reputation Is Fragile

The story of the resignation of Steven Rattner, a managing director at Credit Suisse, started with an extramarital affair and ended with an Internet vendetta. Read more..

By ANDREW ROSS SORKIN - The New York Times

Terror Grips You (Someone Has Called a Meeting)

There’s more than a few ways for small-business owners to make meetings more productive. Read more..

By PAUL B. BROWN - The New York Times

Stock Markets

Values are reported in US Dollars

StockTicker symbolOpenHighLowCloseVolume
MicrosoftMSFT25.6726.2825.5026.2184.3M
Cisco SystemsCSCO22.2522.6522.0222.6577M
PfizerPFE19.0419.7519.0419.7156.9M
IntelINTC22.7523.0522.4623.0254.6M
General ElectricGE28.3829.2528.3829.2552.2M
Wells Fargo & Co.WFC30.5531.6930.2431.5445.8M
Oracle Corp.ORCL21.4222.2221.3122.2142.7M
ExxonMobilXOM76.5078.3576.2178.3540.1M
Wal-Mart StoresWMT59.0260.9958.8360.3437.6M
JPMorgan ChaseJPM41.2742.0040.2141.8935.8M
AT&T Inc.T30.3531.1530.1331.0527.2M
AppleAAPL155.50160.80154.82160.6424.6M
ComcastCMCSA20.8121.5620.7421.5323.9M
ChevronCVX82.5583.3080.8582.4922M
Procter & GamblePG66.2168.1065.8267.9720.4M
Johnson & JohnsonJNJ69.3170.5069.1370.4520.2M
Abbott LaboratoriesABT57.4858.7457.2258.7119.5M
ConocoPhillipsCOP79.1780.2078.4679.8416.1M
MerckMRK33.4934.7933.4934.7016.1M
Walt Disney & Co.DIS30.5231.4030.4031.3115.5M
Verizon CommunicationsVZ34.1734.6833.7434.5514.5M
Home DepotHD24.1024.9424.1024.8914.4M
McDonald'sMCD60.7962.4160.6862.3313.3M
HP Inc.HPQ44.1545.1943.9745.0013.3M
UnitedHealth GroupUNH28.9630.4828.9630.4513.1M
Coca-ColaKO54.1055.0054.0554.9112.7M
PepsicoPEP67.9868.7967.5768.5212.1M
Bristol-Myers SquibbBMY21.5021.9321.4021.8211.9M
AltriaMO21.1021.4120.7321.3711.7M
Gilead SciencesGILD54.1155.4854.0555.3211.3M
SchlumbergerSLB94.4296.5093.7895.9110.4M
AmgenAMGN63.8663.9962.8163.6910.3M
BoeingBA61.8765.6861.8665.208.94M
VisaV73.2074.2372.3273.608.59M
AmazonAMZN77.0079.5276.5279.117.79M
AlphabetGOOGL467.89480.08466.33479.857.16M
International Business MachinesIBM127.56128.90127.08128.876.97M
United TechnologiesUTX64.1665.6063.6765.545.64M
Union PacificUNP80.9482.6880.9382.195.27M
3MMMM70.2372.0370.0071.884.88M
Berkshire HathawayBRK.B3825.003870.003816.003849.0031.2K
Exchange Rates of August 05, 2008
CurrenciesExchange Rates
US DollarJapanese Yen1 USD = 108.290 JPY1 JPY = 0.009 USD
US DollarCanadian Dollar1 USD = 1.043 CAD1 CAD = 0.959 USD
US DollarSwiss Franc1 USD = 1.055 CHF1 CHF = 0.948 USD
US DollarChinese Yuan1 USD = 6.856 CNY1 CNY = 0.146 USD
EuroJapanese Yen1 EUR = 167.300 JPY1 JPY = 0.006 EUR
EuroPound Sterling1 EUR = 0.791 GBP1 GBP = 1.264 EUR
EuroAustralian Dollar1 EUR = 1.687 AUD1 AUD = 0.593 EUR
EuroCanadian Dollar1 EUR = 1.611 CAD1 CAD = 0.621 EUR
EuroSwiss Franc1 EUR = 1.630 CHF1 CHF = 0.614 EUR
Japanese YenPound Sterling1 JPY = 0.473 GBP1 GBP = 2.116 JPY
Japanese YenAustralian Dollar1 JPY = 1.008 AUD1 AUD = 0.992 JPY
Japanese YenCanadian Dollar1 JPY = 0.963 CAD1 CAD = 1.039 JPY
Japanese YenSwiss Franc1 JPY = 0.974 CHF1 CHF = 1.027 JPY
Pound SterlingAustralian Dollar1 GBP = 2.132 AUD1 AUD = 0.469 GBP
Pound SterlingCanadian Dollar1 GBP = 2.036 CAD1 CAD = 0.491 GBP
Pound SterlingSwiss Franc1 GBP = 2.059 CHF1 CHF = 0.486 GBP
Australian DollarCanadian Dollar1 AUD = 0.954 CAD1 CAD = 1.048 AUD
Australian DollarSwiss Franc1 AUD = 0.965 CHF1 CHF = 1.036 AUD
Canadian DollarSwiss Franc1 CAD = 1.011 CHF1 CHF = 0.989 CAD

See what else happened on August 05, 2008