Financial news on March 8th, 2007

Business and Financial news
2 Big Issuers to Ease Some Card Penalties

JPMorgan Chase & Company and Citigroup said they were changing some cardholder rates and fees that lawmakers say unfairly hurt consumers. Read more..

By BLOOMBERG NEWS - The New York Times

Board Chairman Quits Giant French Retailer; 2 Investors Buy Stakes

The resignation fueled speculation of a shift in strategy at Carrefour, which is struggling to meet fierce competition at home and abroad. Read more..

By JULIA WERDIGIER - The New York Times

Drug Manager Raises Its Bid for Caremark but Sees Delay

Express Scripts sweetened its $26.1 billion offer for Caremark Rx, but cautioned that the bid would be delayed by regulatory scrutiny. Read more..

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

EBay’s Founder Selects Philanthropy Director

Pierre Omidyar named a new leader for his personal philanthropy as he explores ways to play a bigger role in shaping public policy. Read more..

By STEPHANIE STROM - The New York Times

In Policy Shift, C-Span Clears Some Clips for Web Use

The decision to change its copyright policy covers about 50 percent of its material. Read more..

By NOAM COHEN - The New York Times

Now, When You’re on Hold, You Can Choose the Music

Most music phones so far have been an amalgam of two disparate technologies, but the Nokia 5300 XpressMusic may be on the verge of getting it right. Read more..

By JOHN BIGGS - The New York Times

Paul Secon, 91, Who Helped Found Pottery Barn Chain, Dies

Paul Secon loaded the family station wagon in 1949 with ceramics, drove to Manhattan and opened the first Pottery Barn store. Read more..

By DENNIS HEVESI - The New York Times

University Fund Manager to Join Firm

Robert Boldt, who managed the $19 billion endowment of the University of Texas, is planning to join Perella Weinberg Partners. Read more..

By THE NEW YORK TIMES - The New York Times

U.S. Accuses Walgreen of Racial Bias

A class-action lawsuit said the nation’s largest drugstore chain discriminated against thousands of black employees. Read more..

By BARRY MEIER - The New York Times

With Coal Plans Cut Back, Texas Faces Energy Gap

TXU Corporation’s decision to scrap plans for eight new coal-fired plants could leave Texas with a shortfall in energy. Read more..

By CLIFFORD KRAUSS - The New York Times

Stock Markets

Values are reported in US Dollars

StockTicker symbolOpenHighLowCloseVolume
Cisco SystemsCSCO26.1726.4326.0726.1543.9M
Oracle Corp.ORCL16.7016.9216.6316.6930.5M
General ElectricGE34.5234.6434.3534.4529.1M
AT&T Inc.T35.9436.7135.8036.5120.6M
Wal-Mart StoresWMT47.7948.1547.3847.8820.4M
Abbott LaboratoriesABT52.6953.5752.3853.4016.6M
Johnson & JohnsonJNJ62.0062.2561.6561.7214.7M
HP Inc.HPQ40.5040.5240.1540.2713.4M
Verizon CommunicationsVZ36.1036.6235.8436.4813.4M
JPMorgan ChaseJPM48.7949.3548.6248.7412M
Home DepotHD38.8439.1238.7338.8011.7M
Wells Fargo & Co.WFC34.6234.7834.4534.519.77M
Procter & GamblePG62.2962.4861.8762.319M
Walt Disney & Co.DIS34.6234.8334.4034.698.29M
International Business MachinesIBM94.2594.8292.5293.007.4M
Bristol-Myers SquibbBMY27.2227.3227.0527.166.88M
UnitedHealth GroupUNH54.1754.2553.1153.336.04M
Gilead SciencesGILD70.6270.9769.8070.063.15M
United TechnologiesUTX64.6164.8964.4164.562.45M
Union PacificUNP98.0099.8698.0099.082.35M
Berkshire HathawayBRK.B3604.003633.003602.003633.0011K
Exchange Rates of March 8th, 2007
CurrenciesExchange Rates
US DollarJapanese Yen1 USD = 117.150 JPY1 JPY = 0.009 USD
US DollarCanadian Dollar1 USD = 1.180 CAD1 CAD = 0.847 USD
US DollarSwiss Franc1 USD = 1.228 CHF1 CHF = 0.815 USD
US DollarChinese Yuan1 USD = 7.740 CNY1 CNY = 0.129 USD
EuroJapanese Yen1 EUR = 153.820 JPY1 JPY = 0.007 EUR
EuroPound Sterling1 EUR = 0.681 GBP1 GBP = 1.469 EUR
EuroAustralian Dollar1 EUR = 1.689 AUD1 AUD = 0.592 EUR
EuroCanadian Dollar1 EUR = 1.549 CAD1 CAD = 0.645 EUR
EuroSwiss Franc1 EUR = 1.612 CHF1 CHF = 0.620 EUR
Japanese YenPound Sterling1 JPY = 0.442 GBP1 GBP = 2.261 JPY
Japanese YenAustralian Dollar1 JPY = 1.097 AUD1 AUD = 0.911 JPY
Japanese YenCanadian Dollar1 JPY = 1.007 CAD1 CAD = 0.993 JPY
Japanese YenSwiss Franc1 JPY = 1.048 CHF1 CHF = 0.954 JPY
Pound SterlingAustralian Dollar1 GBP = 2.481 AUD1 AUD = 0.403 GBP
Pound SterlingCanadian Dollar1 GBP = 2.276 CAD1 CAD = 0.439 GBP
Pound SterlingSwiss Franc1 GBP = 2.367 CHF1 CHF = 0.422 GBP
Australian DollarCanadian Dollar1 AUD = 0.917 CAD1 CAD = 1.091 AUD
Australian DollarSwiss Franc1 AUD = 0.954 CHF1 CHF = 1.048 AUD
Canadian DollarSwiss Franc1 CAD = 1.040 CHF1 CHF = 0.962 CAD

See what else happened on March 8th, 2007