Financial news on December 5th, 2007

Business and Financial news
2 Airlines to Cut Back Plans for Increases in Capacity

Delta Air Lines and Southwest Airlines will scale back seating-capacity plans for next year on mounting concern over high oil prices and a weakening United States economy. Read more..

By BLOOMBERG NEWS - The New York Times

Activision’s Chief Looks for Gaming’s Next Moves

As Activision prepares to join forces with Vivendi Games, its chief executive faces an industry in transition. Read more..

By MATT RICHTEL - The New York Times

A Heart Stent Maker Decides the Way to the Patient Is Through the Patient

The Cordis Corporation, a subsidiary of Johnson & Johnson, has begun the first attempt by a medical device maker to market a heart stent directly to consumers. Read more..

By BARNABY J. FEDER - The New York Times

Brazil: Arcelor Buys Brazilian Unit

ArcelorMittal, the world’s largest steel maker, will spend up to $1.75 billion to buy the rest of its Brazilian specialty steel unit. The company also agreed to buy the British steel distributor NSD. Separately, ArcelorMittal said its chairman, Jo... Read more..

By AP - The New York Times

Curtains Rise Again

When the director Michael Moore moved to northern Michigan from New York City in 2002, the marquee of the State Theater was a sullen space. But not anymore. Read more..

By KEITH SCHNEIDER - The New York Times

FDA Panel Votes Against Cancer Drug

The advisory committee voted that Genentech’s drug Avastin should not be approved as a treatment for breast cancer. It is already on the market as a treatment for lung and colon cancer. Read more..

By ANDREW POLLACK - The New York Times

Fund Crisis in Florida Worrisome to States

The sudden flight from a Florida investment pool points to a broader uncertainty among officials in other states over how far the credit and mortgage crisis might spread. Read more..

By MICHAEL M. GRYNBAUM - The New York Times

Russia: Two Groups Pull Out of Project

;Tamir Fishman, an Israeli venture capital fund, and the European Bank for Reconstruction and Development pulled out of a Russian investment project after a Russian partner boasted in a newspaper interview that he had backing from the F.S.B., the ... Read more..

By ANDREW E. KRAMER - The New York Times

Senate Approves Peru Trade Deal

The Senate gave overwhelming approval to a trade agreement with Peru, with most Democrats joining nearly all Republicans in handing President Bush an unusual victory. Read more..

By STEVEN R. WEISMAN - The New York Times

Zuckerberg Apologizes, Allows Facebook Users to Evade Beacon

In a contrite blog post, Mark Zuckerberg, the founder of Facebook, says his company has mishandled its Beacon system, which tells people’s friends about what they bought on line. The company has added a way to opt out. Read more..

By SAUL HANSELL - The New York Times

Stock Markets

Values are reported in US Dollars

StockTicker symbolOpenHighLowCloseVolume
Cisco SystemsCSCO27.4427.8127.1227.4866.6M
General ElectricGE36.4036.8436.2436.7157.6M
Oracle Corp.ORCL20.2221.4620.1921.2256.4M
AT&T Inc.T38.0038.5037.7138.4222.9M
JPMorgan ChaseJPM44.5445.1943.9344.9020.6M
Wells Fargo & Co.WFC32.2932.5331.8432.4019M
Wal-Mart StoresWMT48.5449.1248.5148.9017.4M
Bristol-Myers SquibbBMY29.3529.5028.4229.2617.3M
Verizon CommunicationsVZ44.0544.5543.7244.5215.4M
Home DepotHD29.0529.1728.6728.9712.5M
HP Inc.HPQ51.0851.7651.0451.6611.7M
UnitedHealth GroupUNH54.9454.9454.2354.6810.9M
Abbott LaboratoriesABT57.9558.1657.4858.1610.7M
Johnson & JohnsonJNJ68.0968.2567.4568.219.75M
Procter & GamblePG73.3774.0872.9173.819.68M
Gilead SciencesGILD45.7847.0545.5646.787.53M
Walt Disney & Co.DIS32.4432.9932.2632.757.46M
International Business MachinesIBM107.46108.52106.98108.166.09M
United TechnologiesUTX76.4976.9376.0076.854.85M
Union PacificUNP128.17129.56128.01129.302.26M
Berkshire HathawayBRK.B4860.004930.004858.004905.0032.9K
Exchange Rates of December 5th, 2007
CurrenciesExchange Rates
US DollarJapanese Yen1 USD = 110.890 JPY1 JPY = 0.009 USD
US DollarCanadian Dollar1 USD = 1.012 CAD1 CAD = 0.988 USD
US DollarSwiss Franc1 USD = 1.127 CHF1 CHF = 0.887 USD
US DollarChinese Yuan1 USD = 7.393 CNY1 CNY = 0.135 USD
EuroJapanese Yen1 EUR = 162.040 JPY1 JPY = 0.006 EUR
EuroPound Sterling1 EUR = 0.721 GBP1 GBP = 1.387 EUR
EuroAustralian Dollar1 EUR = 1.679 AUD1 AUD = 0.596 EUR
EuroCanadian Dollar1 EUR = 1.479 CAD1 CAD = 0.676 EUR
EuroSwiss Franc1 EUR = 1.648 CHF1 CHF = 0.607 EUR
Japanese YenPound Sterling1 JPY = 0.445 GBP1 GBP = 2.249 JPY
Japanese YenAustralian Dollar1 JPY = 1.036 AUD1 AUD = 0.966 JPY
Japanese YenCanadian Dollar1 JPY = 0.912 CAD1 CAD = 1.096 JPY
Japanese YenSwiss Franc1 JPY = 1.017 CHF1 CHF = 0.984 JPY
Pound SterlingAustralian Dollar1 GBP = 2.329 AUD1 AUD = 0.429 GBP
Pound SterlingCanadian Dollar1 GBP = 2.051 CAD1 CAD = 0.488 GBP
Pound SterlingSwiss Franc1 GBP = 2.284 CHF1 CHF = 0.438 GBP
Australian DollarCanadian Dollar1 AUD = 0.880 CAD1 CAD = 1.136 AUD
Australian DollarSwiss Franc1 AUD = 0.981 CHF1 CHF = 1.020 AUD
Canadian DollarSwiss Franc1 CAD = 1.114 CHF1 CHF = 0.898 CAD

See what else happened on December 5th, 2007