Financial news on June 10th, 2009

Business and Financial news
California’s Options Are Down to One

California cannot solve its budget crisis by shirking bondholders and declaring default; that would make future borrowing impossibly expensive. Read more..

By JEFF SEGAL, MARTIN HUTCHINSON and ROB COX - The New York Times

Campaign Against Rival Could Haunt FedEx

FedEx is fighting a labor bill in Congress making it easier for workers to form unions by taking shots at its chief rival, U.P.S., which is unionized. Read more..

By STEPHANIE CLIFFORD - The New York Times

German Retail Group Arcandor Files for Bankruptcy

Arcandor made the bankruptcy filing after the government rejected its request for emergency state aid. Read more..

By CARTER DOUGHERTY - The New York Times

G.M. Chairman’s Task: Bring Fresh Perspective

Edward E. Whitacre Jr. will head a recast board to oversee the “New G.M.” that will emerge from bankruptcy. Read more..

By BILL VLASIC - The New York Times

Mogul Ascends With Old Hollywood Clout

Ariel Z. Emanuel, brother of President Obama’s chief of staff, has emerged as Hollywood’s top power player. Read more..

By MICHAEL CIEPLY and BROOKS BARNES - The New York Times

Norman Brinker, Casual Dining Innovator, Dies at 78

Mr. Brinker helped put casual dining and salad bars on the American menu with the Steak and Ale, Bennigan’s chains, and Chili’s restaurants. Read more..

By WILLIAM GRIMES - The New York Times

Revenue at Craigslist Is Said to Top $100 Million

An outside firm is projecting a 23 percent jump in revenue for the Internet company in a year when classified advertising in newspapers has plummeted. Read more..

By BRAD STONE - The New York Times

The Debt Settlement Industry Is Busy, but It’s a Bit Nervous, Too

An industry that offers to intercede on behalf of consumers is concerned that the economic crisis might prove to be its undoing. Read more..

By DAVID STREITFELD - The New York Times

Treasury to Set Executives’ Pay at 7 Ailing Firms

A federal proposal to restrict executive pay has the potential to humble seven large institutions that have received billions of dollars in bailout money. Read more..

By STEPHEN LABATON - The New York Times

U.S. Presses Antitrust Inquiry Into Google Book Settlement

The Justice Department has requested information from Google and groups representing publishers and authors, among others. Read more..

By MIGUEL HELFT - The New York Times

Stock Markets

Values are reported in US Dollars

StockTicker symbolOpenHighLowCloseVolume
Wells Fargo & Co.WFC25.7525.8024.5824.9189M
General ElectricGE13.7213.7713.1213.4081.9M
MicrosoftMSFT22.1722.6222.1222.5561.3M
JPMorgan ChaseJPM35.5735.6734.3734.8460.2M
Cisco SystemsCSCO20.1920.2419.6019.9558.4M
IntelINTC16.5816.6116.1516.4648.8M
PfizerPFE14.1314.3213.9414.0547.2M
AT&T Inc.T24.3224.4424.1424.2833.4M
Oracle Corp.ORCL21.0621.1920.4320.7433.3M
ExxonMobilXOM73.9774.1272.8473.8427.4M
AppleAAPL142.28142.35138.30140.2524.6M
AltriaMO17.4017.4916.9817.0724.4M
Home DepotHD25.0625.1224.1924.3924.4M
Abbott LaboratoriesABT44.6044.7043.9044.1520.9M
Wal-Mart StoresWMT50.8150.8549.7350.0619.8M
ComcastCMCSA14.5914.6313.9514.2918.8M
ConocoPhillipsCOP46.4346.5345.2545.7617.6M
ChevronCVX71.0071.5069.4570.2214.4M
HP Inc.HPQ37.1337.2436.3136.7914.2M
Coca-ColaKO49.3049.3648.0548.4114.1M
Johnson & JohnsonJNJ56.0256.2555.2255.6613.3M
Procter & GamblePG52.6952.9351.5752.0813.1M
Bristol-Myers SquibbBMY19.5719.6119.1219.4113M
MerckMRK25.9226.1325.4125.5912.8M
Verizon CommunicationsVZ29.5129.7629.1729.5312.5M
Walt Disney & Co.DIS25.4725.5224.8225.1011.8M
SchlumbergerSLB59.8660.1557.8359.2710.6M
McDonald'sMCD59.6059.6257.8758.3610M
UnitedHealth GroupUNH26.0226.2825.4225.739.87M
AmgenAMGN50.4551.9449.6050.119.29M
VisaV69.0369.9267.9669.278.45M
International Business MachinesIBM109.20109.28107.05108.357.58M
Gilead SciencesGILD44.3644.8143.5544.287.33M
AlphabetGOOGL436.23437.89426.67432.606.71M
BoeingBA52.8253.2051.1052.306.56M
PepsicoPEP53.7354.1152.9953.366.29M
AmazonAMZN87.5888.5684.8386.596.07M
United TechnologiesUTX56.0556.2254.5555.506.01M
3MMMM60.6261.2259.4960.464.43M
Union PacificUNP54.3454.7552.4853.433.19M
Berkshire HathawayBRK.B2997.002997.002924.002925.0021.1K
Exchange Rates of June 10th, 2009
CurrenciesExchange Rates
US DollarJapanese Yen1 USD = 98.230 JPY1 JPY = 0.010 USD
US DollarCanadian Dollar1 USD = 1.109 CAD1 CAD = 0.902 USD
US DollarSwiss Franc1 USD = 1.082 CHF1 CHF = 0.924 USD
US DollarChinese Yuan1 USD = 6.834 CNY1 CNY = 0.146 USD
EuroJapanese Yen1 EUR = 137.190 JPY1 JPY = 0.007 EUR
EuroPound Sterling1 EUR = 0.854 GBP1 GBP = 1.171 EUR
EuroAustralian Dollar1 EUR = 1.742 AUD1 AUD = 0.574 EUR
EuroCanadian Dollar1 EUR = 1.549 CAD1 CAD = 0.646 EUR
EuroSwiss Franc1 EUR = 1.511 CHF1 CHF = 0.662 EUR
EuroChinese Yuan1 EUR = 9.546 CNY1 CNY = 0.105 EUR
Japanese YenPound Sterling1 JPY = 0.622 GBP1 GBP = 1.607 JPY
Japanese YenAustralian Dollar1 JPY = 1.269 AUD1 AUD = 0.788 JPY
Japanese YenCanadian Dollar1 JPY = 1.128 CAD1 CAD = 0.886 JPY
Japanese YenSwiss Franc1 JPY = 1.101 CHF1 CHF = 0.908 JPY
Pound SterlingAustralian Dollar1 GBP = 2.039 AUD1 AUD = 0.490 GBP
Pound SterlingCanadian Dollar1 GBP = 1.813 CAD1 CAD = 0.552 GBP
Pound SterlingSwiss Franc1 GBP = 1.769 CHF1 CHF = 0.565 GBP
Pound SterlingChinese Yuan1 GBP = 11.161 CNY1 CNY = 0.090 GBP
Australian DollarCanadian Dollar1 AUD = 0.889 CAD1 CAD = 1.125 AUD
Australian DollarSwiss Franc1 AUD = 0.867 CHF1 CHF = 1.153 AUD
Australian DollarChinese Yuan1 AUD = 5.477 CNY1 CNY = 0.183 AUD
Canadian DollarSwiss Franc1 CAD = 0.975 CHF1 CHF = 1.026 CAD
Canadian DollarChinese Yuan1 CAD = 6.161 CNY1 CNY = 0.162 CAD
Swiss FrancChinese Yuan1 CHF = 6.316 CNY1 CNY = 0.158 CHF

See what else happened on June 10th, 2009