Financial news on March 7th, 2008

Business and Financial news
4 Executives Are Charged Over Tainted Toothpaste

Criminal charges were filed on Thursday against four executives who imported toothpaste from China that contained a poison used in some antifreeze. Read more..


Apple to Encourage iPhone Programmers

Apple is hoping to expand the iPhone’s appeal by luring software developers to create programs for it. Read more..

By LAURIE J. FLYNN - The New York Times

As Foreclosures Rise, Investors Pull Back

The figures are expected to increase pressure on policy makers and the mortgage industry to move faster to contain losses and help homeowners. Read more..

By VIKAS BAJAJ - The New York Times

As the Snows Melt, Lowe’s Encourages Spring Thinking

The home improvement chain is planning what may be its most ambitious annual spring marketing campaign, which gets under way on Sunday. Read more..

By STUART ELLIOTT - The New York Times

Aversion to Risk Deepens Credit Woes

Investors sought absolute safety, even moving away from debt issued by two government-sponsored mortgage lending enterprises. Read more..

By FLOYD NORRIS - The New York Times

Carlyle Capital’s Lenders Liquidating Securities

Carlyle Capital said it was “considering all available options” after it received further margin calls, prompting analysts to warn that more funds could struggle to meet tighter margin requirements. Read more..

By JULIA WERDIGIER - The New York Times

Credit and Mortgage Woes Sink Stocks

Renewed anxiety about the availability of bank loans sent shares down sharply on Thursday. Read more..

By MICHAEL M. GRYNBAUM - The New York Times

F.A.A. Fines Southwest Air in Inspections

The F.A.A. proposed a record penalty, $10.2 million, against Southwest Airlines on Thursday because, it said, the carrier had misled officials. Read more..

By MATTHEW L. WALD - The New York Times

Hoping to Earn a Diploma

Shares of Sallie Mae, the nation’s largest source of student loans, have lost more than half their value since December. Read more..

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

Loophole Lets Bank Rewrite the Calendar

When Société Générale moved its $9.7 billion loss from 2008 — when it occurred — to 2007, it created a furor in accounting circles about whether standards can be evenly applied. Read more..

By FLOYD NORRIS - The New York Times

Stock Markets

Values are reported in US Dollars

StockTicker symbolOpenHighLowCloseVolume
Cisco SystemsCSCO23.9024.7023.7824.1170.3M
General ElectricGE32.6932.9532.0132.2356.9M
Wells Fargo & Co.WFC27.5129.3927.1328.1148.3M
Oracle Corp.ORCL19.1319.5518.8719.0046.5M
JPMorgan ChaseJPM37.0039.0836.6137.5643.3M
AT&T Inc.T34.6835.5134.6035.0125.1M
Wal-Mart StoresWMT49.8050.7449.6849.9024.3M
Verizon CommunicationsVZ35.0535.5634.7535.0816.8M
Bristol-Myers SquibbBMY21.7222.0521.4321.8816.7M
Home DepotHD25.4826.4225.1825.8815.4M
Johnson & JohnsonJNJ62.3262.4261.4061.5114.9M
Abbott LaboratoriesABT52.1752.1750.8751.0414.6M
Procter & GamblePG66.2866.3465.6765.8013.8M
Walt Disney & Co.DIS31.1331.2530.5630.7612.8M
HP Inc.HPQ47.2548.1746.7447.3112.6M
Gilead SciencesGILD47.4448.7047.3648.7010.4M
International Business MachinesIBM112.10114.75111.80113.948.12M
UnitedHealth GroupUNH45.6045.7045.1445.217.43M
United TechnologiesUTX68.4969.2867.3667.496.76M
Union PacificUNP120.60122.80118.55119.665.52M
Berkshire HathawayBRK.B4485.004519.004450.004462.0020.1K
Exchange Rates of March 7th, 2008
CurrenciesExchange Rates
US DollarJapanese Yen1 USD = 102.550 JPY1 JPY = 0.010 USD
US DollarCanadian Dollar1 USD = 0.991 CAD1 CAD = 1.009 USD
US DollarSwiss Franc1 USD = 1.024 CHF1 CHF = 0.976 USD
US DollarChinese Yuan1 USD = 7.110 CNY1 CNY = 0.141 USD
EuroJapanese Yen1 EUR = 157.660 JPY1 JPY = 0.006 EUR
EuroPound Sterling1 EUR = 0.763 GBP1 GBP = 1.311 EUR
EuroAustralian Dollar1 EUR = 1.657 AUD1 AUD = 0.604 EUR
EuroCanadian Dollar1 EUR = 1.521 CAD1 CAD = 0.657 EUR
EuroSwiss Franc1 EUR = 1.574 CHF1 CHF = 0.635 EUR
Japanese YenPound Sterling1 JPY = 0.484 GBP1 GBP = 2.068 JPY
Japanese YenAustralian Dollar1 JPY = 1.051 AUD1 AUD = 0.952 JPY
Japanese YenCanadian Dollar1 JPY = 0.965 CAD1 CAD = 1.037 JPY
Japanese YenSwiss Franc1 JPY = 0.998 CHF1 CHF = 1.002 JPY
Pound SterlingAustralian Dollar1 GBP = 2.172 AUD1 AUD = 0.460 GBP
Pound SterlingCanadian Dollar1 GBP = 1.995 CAD1 CAD = 0.501 GBP
Pound SterlingSwiss Franc1 GBP = 2.063 CHF1 CHF = 0.485 GBP
Australian DollarCanadian Dollar1 AUD = 0.918 CAD1 CAD = 1.090 AUD
Australian DollarSwiss Franc1 AUD = 0.949 CHF1 CHF = 1.053 AUD
Canadian DollarSwiss Franc1 CAD = 1.034 CHF1 CHF = 0.967 CAD

See what else happened on March 7th, 2008