Financial news on May 9th, 2008

Business and Financial news
A Fear of Big Demand for Corporate Loans

Banks have promised scores of companies money for a rainy day. Now that day is here — and the banks, hard pressed themselves, are worried they will have to keep their promises. Read more..

By LOUISE STORY - The New York Times

A Little Pity, Please, for Lenders

A G.M.A.C. subsidiary that was a leader in creative mortgages can’t pay its own debts, so it is demanding a privilege that it won’t grant its borrowers. Read more..

By FLOYD NORRIS - The New York Times

Bad Investments and a $7.8 Billion Loss at A.I.G.

In the worst three months of the company’s 89-year history, American International Group lost $7.81 billion, primarily from bad investments in complex financial instruments. Read more..

By MICHAEL M. GRYNBAUM - The New York Times

Facebook Agrees to Devise Tools to Protect Young Users

The company will require users under 18 to confirm they have read Facebook’s safety tips when they sign up; the site will also display a prominent “report abuse” icon. Read more..

By BRAD STONE - The New York Times

F.B.I. Says the Military Had Bogus Computer Gear

The prospect of an electronic Trojan horse, lurking in the circuitry of a computer and allowing attackers clandestine access or control, was raised again recently by the F.B.I. and the Pentagon. Read more..

By JOHN MARKOFF - The New York Times

In a Weak Economy, Quirky Restaurant Ads Yield to Tried and True

Applebee’s and Wendy’s have opted for a more recession-proof approach: glamour shots of food. Read more..

By DOUGLAS QUENQUA - The New York Times

Push to End Europe’s Ban on U.S. Poultry Backfires

American pressure for a quick end to a Europe-wide ban on U.S. poultry imports threatened to backfire after European officials contradicted claims that the dispute was almost resolved. Read more..

By STEPHEN CASTLE - The New York Times

Questions of Rent Tactics by Private Equity

Private firms are buying up rent-regulated buildings and harassing tenants to increase vacancies, advocates say. Read more..


Retailers’ April Is Mixed, With Discounters Strong

Wal-Mart and Costco reported April sales that rose more than analysts estimated as American consumers sought discounts on clothing and food. Read more..

By BLOOMBERG NEWS - The New York Times

Stock Markets

Values are reported in US Dollars

StockTicker symbolOpenHighLowCloseVolume
General ElectricGE32.4532.4632.1432.2738.8M
Cisco SystemsCSCO25.4025.6425.2625.4938.5M
Bristol-Myers SquibbBMY22.1322.1721.6321.7128.9M
JPMorgan ChaseJPM45.6846.9345.5246.5721.7M
Oracle Corp.ORCL20.8321.1020.7021.0021.1M
Wells Fargo & Co.WFC29.3329.9529.0029.3316.1M
AT&T Inc.T38.5838.8638.3038.5915.3M
Abbott LaboratoriesABT51.2352.0150.5051.7813.8M
Walt Disney & Co.DIS34.3734.4734.0334.3013.4M
Home DepotHD27.8228.4427.6327.9813M
Wal-Mart StoresWMT56.8357.4956.6157.1813M
Verizon CommunicationsVZ38.2538.2537.5037.9112M
Procter & GamblePG65.7065.7965.1065.219.76M
HP Inc.HPQ48.8549.3548.6049.139.61M
Johnson & JohnsonJNJ66.5266.9766.3566.558.76M
International Business MachinesIBM124.37124.65123.63124.065.5M
UnitedHealth GroupUNH33.0933.2132.6232.945.17M
Gilead SciencesGILD53.5154.1453.2553.644.05M
United TechnologiesUTX73.6373.6372.3973.133.99M
Union PacificUNP144.95146.65144.51146.281.29M
Berkshire HathawayBRK.B4281.004294.004175.004179.0036.8K
Exchange Rates of May 9th, 2008
CurrenciesExchange Rates
US DollarJapanese Yen1 USD = 102.850 JPY1 JPY = 0.010 USD
US DollarCanadian Dollar1 USD = 1.005 CAD1 CAD = 0.995 USD
US DollarSwiss Franc1 USD = 1.041 CHF1 CHF = 0.961 USD
US DollarChinese Yuan1 USD = 6.988 CNY1 CNY = 0.143 USD
EuroJapanese Yen1 EUR = 159.220 JPY1 JPY = 0.006 EUR
EuroPound Sterling1 EUR = 0.792 GBP1 GBP = 1.263 EUR
EuroAustralian Dollar1 EUR = 1.641 AUD1 AUD = 0.609 EUR
EuroCanadian Dollar1 EUR = 1.556 CAD1 CAD = 0.643 EUR
EuroSwiss Franc1 EUR = 1.612 CHF1 CHF = 0.620 EUR
Japanese YenPound Sterling1 JPY = 0.497 GBP1 GBP = 2.012 JPY
Japanese YenAustralian Dollar1 JPY = 1.030 AUD1 AUD = 0.971 JPY
Japanese YenCanadian Dollar1 JPY = 0.977 CAD1 CAD = 1.024 JPY
Japanese YenSwiss Franc1 JPY = 1.012 CHF1 CHF = 0.988 JPY
Pound SterlingAustralian Dollar1 GBP = 2.072 AUD1 AUD = 0.483 GBP
Pound SterlingCanadian Dollar1 GBP = 1.964 CAD1 CAD = 0.509 GBP
Pound SterlingSwiss Franc1 GBP = 2.034 CHF1 CHF = 0.492 GBP
Australian DollarCanadian Dollar1 AUD = 0.947 CAD1 CAD = 1.056 AUD
Australian DollarSwiss Franc1 AUD = 0.982 CHF1 CHF = 1.019 AUD
Canadian DollarSwiss Franc1 CAD = 1.036 CHF1 CHF = 0.966 CAD

See what else happened on May 9th, 2008