Financial news on September 6th, 2007

Business and Financial news
A Citigroup Investment Chief Is Shutting a Hedge Fund

Citigroup Alternative Investments is shutting down its Tribeca Capital Management hedge fund as its new leader, Vikram S. Pandit, puts his stamp on the long-overlooked division. Read more..

By ERIC DASH - The New York Times

Apple Cuts iPhone Price Ahead of Holidays

Apple also introduced a new digital music player modeled after the iPhone and announced a wireless music distribution deal with Starbucks. Read more..

By JOHN MARKOFF - The New York Times

Big Gifts, Tax Breaks and a Debate on Charity

Some ask if the public benefits of philanthropy are worth the tax breaks that givers receive. Read more..

By STEPHANIE STROM - The New York Times

Financier Sentenced to Prison for Not Paying Federal Taxes for 29 Years

Richard Josephberg was sentenced on Wednesday to 50 months in prison for tax crimes, including the first criminal conviction for not paying the nanny tax. Read more..

By DAVID CAY JOHNSTON - The New York Times

Finland: Write-Down at Paper Maker

Stora Enso, the world’s largest paper maker, left, wrote down the value of its assets by $1.36 billion because of higher wood costs and a deteriorating outlook for magazine papers. Read more..

By BLOOMBERG NEWS - The New York Times

New Concerns in Europe About Credit Fallout

The European Central Bank said volatility appeared to be returning after a period of stability, and the O.E.C.D. warned of “ominous” risks to the global economic outlook. Read more..

By JAMES KANTER - The New York Times

Testimony Counters Private-Equity Tax Claims

Pension fund and tax specialists said a proposal to increase taxes on executives at private equity firms and hedge funds would have a negligible effect on pension fund returns. Read more..


The Blundits Don’t Vudu. Do You?

Vudu launches the movie box that an army of blogger pundits have already declared a failure. But the device may feed into frustrations with the cable co’s set top box. Read more..

By BRAD STONE - The New York Times

The Power of Unpleasant Memories

A new marketing strategy for a BMW Performance Driving School adopts a sense of humor and tries to remind us of the hapless but well-meaning instructors of our past. Read more..

By STUART ELLIOTT - The New York Times

Tip of the Week: Mobile-Friendly Web Sites

How to find Web sites that offer slimmed-down versions of images for mobile devices. Read more..

By J. D. BIERSDORFER - The New York Times

Stock Markets

Values are reported in US Dollars

StockTicker symbolOpenHighLowCloseVolume
Cisco SystemsCSCO32.4032.4431.7331.8445.7M
General ElectricGE38.8139.4538.5139.4039.4M
Home DepotHD36.3636.7735.2235.2236.3M
Wal-Mart StoresWMT43.5043.6042.6542.7629.4M
Oracle Corp.ORCL20.7220.7420.3320.5426.4M
AT&T Inc.T39.8540.0939.4339.7425.3M
JPMorgan ChaseJPM44.2444.5543.8344.2119M
Wells Fargo & Co.WFC35.8536.0035.1735.6515.2M
HP Inc.HPQ50.1550.4249.8450.1912.4M
Abbott LaboratoriesABT51.9553.0551.7052.9011.5M
Procter & GamblePG65.1466.2865.0966.1111.1M
Verizon CommunicationsVZ42.1042.5041.9342.268.65M
Bristol-Myers SquibbBMY28.5528.9428.3028.678.32M
Walt Disney & Co.DIS34.2234.4833.8734.418.15M
Johnson & JohnsonJNJ61.7061.9061.6161.667.72M
Gilead SciencesGILD36.6738.0836.5337.597.32M
International Business MachinesIBM117.92118.75116.24117.626.78M
UnitedHealth GroupUNH49.0349.7249.0349.604.17M
United TechnologiesUTX73.7475.1173.4575.013.68M
Union PacificUNP109.33109.88107.77109.281.72M
Berkshire HathawayBRK.B3985.004000.003970.003999.509.3K
Exchange Rates of September 6th, 2007
CurrenciesExchange Rates
US DollarJapanese Yen1 USD = 115.400 JPY1 JPY = 0.009 USD
US DollarCanadian Dollar1 USD = 1.051 CAD1 CAD = 0.951 USD
US DollarSwiss Franc1 USD = 1.201 CHF1 CHF = 0.833 USD
US DollarChinese Yuan1 USD = 7.539 CNY1 CNY = 0.133 USD
EuroJapanese Yen1 EUR = 158.000 JPY1 JPY = 0.006 EUR
EuroPound Sterling1 EUR = 0.676 GBP1 GBP = 1.478 EUR
EuroAustralian Dollar1 EUR = 1.652 AUD1 AUD = 0.606 EUR
EuroCanadian Dollar1 EUR = 1.439 CAD1 CAD = 0.695 EUR
EuroSwiss Franc1 EUR = 1.644 CHF1 CHF = 0.608 EUR
Japanese YenPound Sterling1 JPY = 0.428 GBP1 GBP = 2.337 JPY
Japanese YenAustralian Dollar1 JPY = 1.045 AUD1 AUD = 0.957 JPY
Japanese YenCanadian Dollar1 JPY = 0.911 CAD1 CAD = 1.098 JPY
Japanese YenSwiss Franc1 JPY = 1.040 CHF1 CHF = 0.961 JPY
Pound SterlingAustralian Dollar1 GBP = 2.442 AUD1 AUD = 0.410 GBP
Pound SterlingCanadian Dollar1 GBP = 2.128 CAD1 CAD = 0.470 GBP
Pound SterlingSwiss Franc1 GBP = 2.429 CHF1 CHF = 0.412 GBP
Australian DollarCanadian Dollar1 AUD = 0.871 CAD1 CAD = 1.148 AUD
Australian DollarSwiss Franc1 AUD = 0.995 CHF1 CHF = 1.005 AUD
Canadian DollarSwiss Franc1 CAD = 1.142 CHF1 CHF = 0.876 CAD

See what else happened on September 6th, 2007