Financial news on June 06, 2008

Business and Financial news
About 1 in 11 Mortgageholders Face Loan Problems

The default rate is rising even among homeowners with good credit who do not hold risky subprime loans. Read more..

By VIKAS BAJAJ and MICHAEL M. GRYNBAUM - The New York Times

Big Airlines in a Rush to Go Small

With fuel prices almost double what they were a year ago, airlines have switched strategies from expansion to downsizing. Read more..

By MICHELINE MAYNARD - The New York Times

Bosses May Have Hastened Chief’s Departure at HarperCollins

Accounts differ on the timeline of events that led Jane Friedman, the chief executive of HarperCollins Publishers Worldwide, to unexpectedly announce her resignation on Wednesday. Read more..

By MOTOKO RICH - The New York Times

Europe Warns Germany About Shielding VW

The European Commission threatened to take Germany to court for failing to revoke a law shielding Volkswagen from a hostile takeover. Read more..

By JAMES KANTER - The New York Times

Former Chief of Broadcom Is Indicted

Henry T. Nicholas III faces fraud, conspiracy and drug charges. He is also accused of running a stock options backdating scheme. Read more..

By LAURA M. HOLSON - The New York Times

Mergers Accelerate as Telecoms Seek Growth

Verizon Wireless announced it would buy Alltell to create the largest cellphone operator in the United States, while in Europe, a bid was made to create the world’s fourth-largest mobile operator. Read more..

By KEVIN J. O'BRIEN - The New York Times

Sales Double for Game Maker

Take-Two Interactive Software, publisher of the Grand Theft Auto video game franchise, recorded sales of $540 million for its second quarter. Read more..

By MATT RICHTEL - The New York Times

Trail of Bad Loans Leads to the Couple Next Door

Creative financing led to a string of foreclosures for a Florida couple who had turned speculators. Read more..

By FLOYD NORRIS - The New York Times

Verizon Agrees to Buy Alltel for $28.1 Billion

The deal catapults Verizon’s wireless business ahead of AT&T Wireless, which falls to No. 2, followed by Sprint Nextel and Deutsche Telecom’s T-Mobile. Read more..

By ANDREW ROSS SORKIN And LAURA M. HOLSON - The New York Times

Zagat Family Says Company Is No Longer for Sale

Zagat Survey ended its search for a buyer, saying it would seek to “grow organically” instead. Read more..

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

Stock Markets

Values are reported in US Dollars

StockTicker symbolOpenHighLowCloseVolume
PfizerPFE18.5518.6017.9517.9695.8M
MicrosoftMSFT27.9828.1727.4927.4978.5M
IntelINTC23.6623.7022.9022.9069.9M
General ElectricGE30.8630.8630.0030.0269.5M
Cisco SystemsCSCO27.3227.4526.5026.5468.9M
Wells Fargo & Co.WFC26.8026.8225.3225.4257.7M
Oracle Corp.ORCL22.9923.0622.4622.4641.3M
JPMorgan ChaseJPM41.7941.7939.9540.0939.9M
AppleAAPL188.00189.95185.55185.6434.5M
ExxonMobilXOM89.7990.5086.6786.7934.3M
AT&T Inc.T39.0639.3338.1338.2127M
ConocoPhillipsCOP94.1095.7492.0592.1727M
Wal-Mart StoresWMT59.3359.5758.3358.3723.5M
MerckMRK38.5938.6637.4337.4922M
ComcastCMCSA22.5122.6421.9421.9421.6M
Verizon CommunicationsVZ38.7138.8938.0038.2320M
Home DepotHD27.4527.6927.1027.1819.4M
ChevronCVX100.61102.1598.3699.5018.6M
AltriaMO22.1022.3121.5221.5316.9M
HP Inc.HPQ48.0948.4547.5047.6316.8M
Walt Disney & Co.DIS34.1434.3032.9733.0116.6M
Procter & GamblePG66.3566.3865.2665.3716.4M
Johnson & JohnsonJNJ66.5866.7665.6865.7614.3M
SchlumbergerSLB105.67108.58101.84101.9413.1M
BoeingBA76.5476.5773.0073.1612.8M
Coca-ColaKO56.8457.1155.7455.8012.5M
Bristol-Myers SquibbBMY21.5321.5320.8620.8812.4M
UnitedHealth GroupUNH33.7233.8932.9933.0312.4M
Abbott LaboratoriesABT55.5855.6354.7054.7612.4M
United TechnologiesUTX69.4369.4366.9367.0111.8M
VisaV85.9085.9983.5583.6510.4M
PepsicoPEP66.8767.0465.4565.529.73M
AlphabetGOOGL579.89580.72567.00567.009.46M
International Business MachinesIBM127.60128.14124.74124.947.89M
AmazonAMZN83.1983.6480.5680.637.84M
AmgenAMGN44.7845.0844.2144.247.83M
McDonald'sMCD57.6857.8256.8456.957.37M
Gilead SciencesGILD56.3356.6254.7554.766.72M
3MMMM76.7377.0274.8574.865.98M
Union PacificUNP81.1881.1877.9077.955.88M
Berkshire HathawayBRK.B4330.004342.004280.004286.0015.5K
Exchange Rates of June 06, 2008
CurrenciesExchange Rates
US DollarJapanese Yen1 USD = 104.910 JPY1 JPY = 0.010 USD
US DollarCanadian Dollar1 USD = 1.019 CAD1 CAD = 0.981 USD
US DollarSwiss Franc1 USD = 1.018 CHF1 CHF = 0.982 USD
US DollarChinese Yuan1 USD = 6.923 CNY1 CNY = 0.144 USD
EuroJapanese Yen1 EUR = 165.530 JPY1 JPY = 0.006 EUR
EuroPound Sterling1 EUR = 0.800 GBP1 GBP = 1.249 EUR
EuroAustralian Dollar1 EUR = 1.639 AUD1 AUD = 0.610 EUR
EuroCanadian Dollar1 EUR = 1.608 CAD1 CAD = 0.622 EUR
EuroSwiss Franc1 EUR = 1.607 CHF1 CHF = 0.622 EUR
Japanese YenPound Sterling1 JPY = 0.483 GBP1 GBP = 2.069 JPY
Japanese YenAustralian Dollar1 JPY = 0.990 AUD1 AUD = 1.011 JPY
Japanese YenCanadian Dollar1 JPY = 0.971 CAD1 CAD = 1.030 JPY
Japanese YenSwiss Franc1 JPY = 0.971 CHF1 CHF = 1.030 JPY
Pound SterlingAustralian Dollar1 GBP = 2.047 AUD1 AUD = 0.488 GBP
Pound SterlingCanadian Dollar1 GBP = 2.009 CAD1 CAD = 0.498 GBP
Pound SterlingSwiss Franc1 GBP = 2.007 CHF1 CHF = 0.498 GBP
Australian DollarCanadian Dollar1 AUD = 0.981 CAD1 CAD = 1.020 AUD
Australian DollarSwiss Franc1 AUD = 0.980 CHF1 CHF = 1.020 AUD
Canadian DollarSwiss Franc1 CAD = 0.999 CHF1 CHF = 1.001 CAD

See what else happened on June 06, 2008