Financial news on August 10, 2007

Business and Financial news
Big French Bank Suspends Funds

BNP Paribas suspended operations of three funds over concerns about the drying up of credit. Read more..

By JAMES KANTER and JULIA WERDIGIER - The New York Times

Deal to Simplify the Business of Implanted Identity Chips

Applied Digital Solutions, maker of radio identification tags, said Thursday that it intended to acquire complete ownership of a subsidiary. Read more..

By BARNABY J. FEDER - The New York Times

Mortgage Losses Echo in Europe and on Wall Street

On Thursday, stocks on Wall Street suffered their biggest one-day decline since February. Indexes fell more than 2 percent across Asia in early trading today. Read more..

By VIKAS BAJAJ and MARK LANDLER - The New York Times

Size Doesn’t Keep Goldman Fund From Gyrating With Market

Exposure at Goldman Sachs to volatile fixed-income markets may well make the bank the latest symbol of overreaching on Wall Street. Read more..

By LANDON THOMAS Jr - The New York Times

States Ramp Up R&D Efforts as Federal Funding Fades

For most of President Bush’s time in office, spending on research and development has been steadily declining. Read more..

By KEITH GIRARD, AllBusiness.com - The New York Times

Stocks Are Volatile After Global Sell-Off

After a sell-off early in the session, stocks recovered most of their losses. The ups and downs pointed to continued concerns over the credit squeeze. Read more..

By JEREMY W. PETERS and WAYNE ARNOLD - The New York Times

Stocks Tumble as French Bank Reacts to Home Loan Worries

Stocks dropped sharply as soon as trading opened today after a French bank, BNP Paribas, suspended operations of three of its funds in the wake of turmoil in the American market for home loans. Read more..

By JEREMY W. PETERS - The New York Times

The Feud Behind the Sale of Barneys New York

Behind what seemed like a well-orchestrated triumph in the apparent deal to sell Barneys New York was a bitter rift between the C.E.O. and board of its owner, Jones Apparel Group. Read more..

By MICHAEL BARBARO - The New York Times

To Curb Risk, Boston Scientific to Sell Device Maker It Bought in ’04

The medical equipment maker said it will sell Advanced Bionics to avoid future payouts that could have amounted to $2.6 billion over the next six years. Read more..

By BARNABY J. FEDER - The New York Times

Stock Markets

Values are reported in US Dollars

StockTicker symbolOpenHighLowCloseVolume
General ElectricGE38.5038.6337.1938.2385.6M
Cisco SystemsCSCO31.0031.5030.8431.3983M
MicrosoftMSFT28.9029.0528.2628.7176.6M
IntelINTC23.8524.3423.5023.9868.8M
AppleAAPL123.12127.75120.30125.0050.4M
PfizerPFE24.0024.0923.7523.9949.9M
Oracle Corp.ORCL19.7120.2519.6719.9936.8M
ExxonMobilXOM82.5185.1582.1084.5132.8M
JPMorgan ChaseJPM43.3644.8042.5144.2532.5M
ComcastCMCSA24.9025.6424.1925.4429.2M
AT&T Inc.T39.0539.2938.1938.8725.4M
Wells Fargo & Co.WFC33.5134.8933.5034.4024.8M
ConocoPhillipsCOP77.5078.8076.0078.2122.2M
Home DepotHD35.7836.2735.3035.9222M
Wal-Mart StoresWMT46.2147.2745.7046.0721.7M
Verizon CommunicationsVZ41.6042.0040.7741.3318.8M
HP Inc.HPQ46.5648.1946.4847.2118.3M
Procter & GamblePG64.3165.8964.2865.3917.2M
AltriaMO67.2167.6565.7967.3917M
Bristol-Myers SquibbBMY27.5228.9927.5128.8216.8M
Abbott LaboratoriesABT54.8855.5052.7355.2216M
Johnson & JohnsonJNJ60.7061.4260.5061.1515.7M
Walt Disney & Co.DIS32.5733.4232.0733.1615.4M
MerckMRK51.4451.7050.0550.8815.3M
Coca-ColaKO55.4056.1354.1054.9814.9M
AmgenAMGN50.3750.9249.7150.0814.4M
ChevronCVX80.1483.7379.4183.4213.3M
UnitedHealth GroupUNH46.4048.0746.0547.4811.9M
AlphabetGOOGL510.18518.72505.63515.7511.7M
BoeingBA96.9598.5194.0098.4411.4M
SchlumbergerSLB89.9993.1288.5092.1010.5M
International Business MachinesIBM109.75113.50109.70112.649.59M
AmazonAMZN73.1576.5072.3774.789.07M
McDonald'sMCD49.6549.9348.5949.418.51M
Gilead SciencesGILD36.8837.8036.4937.068.17M
PepsicoPEP67.6868.6367.2067.957.65M
3MMMM86.3686.6984.7685.975.88M
United TechnologiesUTX71.4673.6871.0773.085.87M
Union PacificUNP115.50117.37113.01116.654.11M
Berkshire HathawayBRK.B3600.003636.003590.003625.0023.5K
Exchange Rates of August 10, 2007
CurrenciesExchange Rates
US DollarJapanese Yen1 USD = 118.390 JPY1 JPY = 0.008 USD
US DollarCanadian Dollar1 USD = 1.053 CAD1 CAD = 0.950 USD
US DollarSwiss Franc1 USD = 1.199 CHF1 CHF = 0.834 USD
US DollarChinese Yuan1 USD = 7.574 CNY1 CNY = 0.132 USD
EuroJapanese Yen1 EUR = 162.120 JPY1 JPY = 0.006 EUR
EuroPound Sterling1 EUR = 0.677 GBP1 GBP = 1.478 EUR
EuroAustralian Dollar1 EUR = 1.622 AUD1 AUD = 0.617 EUR
EuroCanadian Dollar1 EUR = 1.442 CAD1 CAD = 0.694 EUR
EuroSwiss Franc1 EUR = 1.641 CHF1 CHF = 0.609 EUR
Japanese YenPound Sterling1 JPY = 0.417 GBP1 GBP = 2.398 JPY
Japanese YenAustralian Dollar1 JPY = 1.000 AUD1 AUD = 1.000 JPY
Japanese YenCanadian Dollar1 JPY = 0.889 CAD1 CAD = 1.125 JPY
Japanese YenSwiss Franc1 JPY = 1.012 CHF1 CHF = 0.988 JPY
Pound SterlingAustralian Dollar1 GBP = 2.397 AUD1 AUD = 0.417 GBP
Pound SterlingCanadian Dollar1 GBP = 2.130 CAD1 CAD = 0.469 GBP
Pound SterlingSwiss Franc1 GBP = 2.425 CHF1 CHF = 0.412 GBP
Australian DollarCanadian Dollar1 AUD = 0.888 CAD1 CAD = 1.126 AUD
Australian DollarSwiss Franc1 AUD = 1.011 CHF1 CHF = 0.989 AUD
Canadian DollarSwiss Franc1 CAD = 1.138 CHF1 CHF = 0.879 CAD

See what else happened on August 10, 2007