Financial news on March 6th, 2009

Business and Financial news
Austria: Report on Eastern Europe

In its survey of Eastern Europe, the Vienna Institute for International Economic Studies found that there had not been a sudden stop in international financial flows across the whole region. Read more..

By JUDY DEMPSEY - The New York Times

Barnes & Noble Buys an E-Book Retailer

With overall book sales flat or falling and electronic book purchases up, the bookstore chain has acquired Fictionwise. Read more..

By MOTOKO RICH - The New York Times

Despite Recession and Prices, Exxon Plans to Expand

The oil company is bucking the trend in these troubled economic times. Read more..

By JAD MOUAWAD - The New York Times

Germany: Executive Pay May Be Curbed

Chancellor Angela Merkel has proposed curbs on executive pay for companies expecting to tap a 115 billion euro ($145 billion) German liquidity fund. Read more..

By BLOOMBERG NEWS - The New York Times

Hearst’s Seattle Paper May Become Web-Only

With a weekday circulation of more than 100,000, The Seattle Post-Intelligencer would be the first large American newspaper to drop print and publish solely on the Internet. Read more..

By RICHARD PÉREZ-PEÑA - The New York Times

Piecemeal Layoffs Avoid Warning Laws

Experts say the law requiring notice of certain kinds of layoffs should be overhauled to cover smaller job cuts. Read more..

By STEVE LOHR - The New York Times

Savings Accounts for All: Simple, but Not Easy

Automatic enrollment is a key factor in establishing near universal workplace savings accounts, but then it gets complex. Read more..

By RON LIEBER - The New York Times

Senators Ask Who Got Money From A.I.G.

A Senate panel told the Federal Reserve to identify all the parties made whole by the bailout of A.I.G. or forget about coming back to ask Congress for more rescue money. Read more..


Two Central Banks in Europe Cut Key Rates

The European Central Bank cut its benchmark rate to 1.5 percent, and the Bank of England, which also announced more stimulus measures, to 0.5 percent. Read more..

By CARTER DOUGHERTY - The New York Times

Undisclosed Losses at Merrill Lynch Lead to a Trading Inquiry

In the final, frantic months of 2008, Merrill traders apparently lost hundreds of millions on gambles that came to light only after its merger with Bank of America. Read more..

By LOUISE STORY and ERIC DASH - The New York Times

Stock Markets

Values are reported in US Dollars

StockTicker symbolOpenHighLowCloseVolume
General ElectricGE7.007.256.667.06319M
Wells Fargo & Co.WFC9.339.498.018.61256M
JPMorgan ChaseJPM17.1917.6714.9615.93155M
Cisco SystemsCSCO14.5714.9313.9814.18114M
Oracle Corp.ORCL14.6014.8614.1414.4752.9M
AT&T Inc.T22.7723.4121.8222.5847.9M
Wal-Mart StoresWMT50.1550.1548.1048.9133.8M
HP Inc.HPQ26.1927.3825.7026.9833.5M
Verizon CommunicationsVZ27.9628.3526.5527.2831.2M
Home DepotHD18.3018.6017.5418.0025.9M
UnitedHealth GroupUNH16.5718.0716.3217.9024.7M
Abbott LaboratoriesABT46.3447.2546.0146.8921.2M
Walt Disney & Co.DIS15.8416.4215.3215.8320.6M
Bristol-Myers SquibbBMY17.8118.5217.7418.3520.2M
Procter & GamblePG45.9246.5944.6345.7119.6M
Johnson & JohnsonJNJ47.6048.5947.0147.9719.2M
International Business MachinesIBM87.4788.2583.8185.8115.2M
United TechnologiesUTX38.1938.7837.7438.5412.2M
Gilead SciencesGILD43.9544.6143.4644.0112.2M
Union PacificUNP35.6836.8134.0134.987.11M
Berkshire HathawayBRK.B2305.002385.002280.002327.0040.1K
Exchange Rates of March 6th, 2009
CurrenciesExchange Rates
US DollarJapanese Yen1 USD = 98.290 JPY1 JPY = 0.010 USD
US DollarCanadian Dollar1 USD = 1.285 CAD1 CAD = 0.778 USD
US DollarSwiss Franc1 USD = 1.159 CHF1 CHF = 0.863 USD
US DollarChinese Yuan1 USD = 6.840 CNY1 CNY = 0.146 USD
EuroJapanese Yen1 EUR = 124.330 JPY1 JPY = 0.008 EUR
EuroPound Sterling1 EUR = 0.898 GBP1 GBP = 1.114 EUR
EuroAustralian Dollar1 EUR = 1.975 AUD1 AUD = 0.506 EUR
EuroCanadian Dollar1 EUR = 1.628 CAD1 CAD = 0.614 EUR
EuroSwiss Franc1 EUR = 1.467 CHF1 CHF = 0.682 EUR
EuroChinese Yuan1 EUR = 8.651 CNY1 CNY = 0.116 EUR
Japanese YenPound Sterling1 JPY = 0.722 GBP1 GBP = 1.386 JPY
Japanese YenAustralian Dollar1 JPY = 1.588 AUD1 AUD = 0.630 JPY
Japanese YenCanadian Dollar1 JPY = 1.309 CAD1 CAD = 0.764 JPY
Japanese YenSwiss Franc1 JPY = 1.178 CHF1 CHF = 0.849 JPY
Pound SterlingAustralian Dollar1 GBP = 2.199 AUD1 AUD = 0.455 GBP
Pound SterlingCanadian Dollar1 GBP = 1.812 CAD1 CAD = 0.552 GBP
Pound SterlingSwiss Franc1 GBP = 1.633 CHF1 CHF = 0.612 GBP
Pound SterlingChinese Yuan1 GBP = 9.627 CNY1 CNY = 0.104 GBP
Australian DollarCanadian Dollar1 AUD = 0.823 CAD1 CAD = 1.215 AUD
Australian DollarSwiss Franc1 AUD = 0.742 CHF1 CHF = 1.348 AUD
Australian DollarChinese Yuan1 AUD = 4.382 CNY1 CNY = 0.228 AUD
Canadian DollarSwiss Franc1 CAD = 0.899 CHF1 CHF = 1.112 CAD
Swiss FrancChinese Yuan1 CHF = 5.894 CNY1 CNY = 0.170 CHF

See what else happened on March 6th, 2009