Financial news on September 10, 2008

Business and Financial news
Bear to Pay $28 Million to Settle Loan Complaint

Bear Stearns unit agreed to pay $28 million to settle federal charges it had deceived subprime borrowers and had engaged in abusive loan practices before the investment bank’s collapse. Read more..

By BLOOMBERG NEWS - The New York Times

Boeing’s Strong Results Alter Strike Dynamics

In struggling industries like automobiles and airlines, the bargaining power of unions has been limited by the weak positions of their employers. By contrast, Boeing is strong. Read more..

By MICHELINE MAYNARD - The New York Times

Europe Takes Aim at Sexual Stereotyping in Ads

Putting men in gray business suits and women in aprons sends a demeaning message, a European Parliament report says. Read more..

By DOREEN CARVAJAL - The New York Times

It’s Open House at Last at Altria’s Midtown Home

Left mostly vacant in a corporate restructuring, the Altria Group’s lavish but quirky Midtown skyscraper is looking for new tenants. Read more..

By J. ALEX TARQUINIO - The New York Times

Marketing Code for Student Lenders

The agreement was part of a settlement of claims that they misled consumers about loan terms and benefits. Read more..

By JONATHAN D. GLATER - The New York Times

Mexico: Inflation at 5-year High

Mexico’s inflation accelerated to the fastest annual pace in more than five years last month on higher costs for gasoline, electricity and eggs. Read more..

By BLOOMBERG NEWS - The New York Times

Paper Concedes Outdated Link

The Tribune Company said that a link to a six-year-old article on the United’s 2002 bankruptcy filing had appeared on the South Florida Sun-Sentinel’s Web site before another news organization mistakenly presented the article as new. Read more..

By BLOOMBERG NEWS - The New York Times

Thrift Shops Thriving, but Running Low on Stock

The same economic woes that are sending buyers to thrift stores are causing donors to hand over fewer items, so that many stores are running low on inventory. Read more..

By STEPHANIE ROSENBLOOM - The New York Times

U.S. May Be Preparing Antitrust Suit in Google-Yahoo Partnership

The hiring of a veteran antitrust lawyer represents the clearest indication that the Justice Department could be planning to mount a legal challenge to the deal, some analysts said. Read more..

By MIGUEL HELFT and STEPHANIE CLIFFORD - The New York Times

Wall Street’s Fears on Lehman Bros. Batter Markets

Investors were gripped by fears that another big financial institution might founder — and that the government might not come to the rescue. Read more..

By JENNY ANDERSON and BEN WHITE - The New York Times

Stock Markets

Values are reported in US Dollars

StockTicker symbolOpenHighLowCloseVolume
MicrosoftMSFT26.5226.8626.2526.4475.1M
IntelINTC20.7120.7220.1420.1666.2M
Wells Fargo & Co.WFC31.5032.5030.1031.7057.7M
General ElectricGE28.3728.4327.7528.0955.9M
Oracle Corp.ORCL19.3519.4019.0319.1652.2M
JPMorgan ChaseJPM39.9940.4438.7939.4046.1M
Cisco SystemsCSCO23.2323.3222.9722.9938.9M
PfizerPFE18.2718.4518.1018.2038.3M
AppleAAPL152.32154.99148.80151.6134.8M
ExxonMobilXOM73.8875.8073.5475.2531.4M
Verizon CommunicationsVZ35.3435.3434.4334.7231.1M
AT&T Inc.T32.4932.4931.4931.5530.3M
ComcastCMCSA20.9321.3520.5721.1224.7M
Wal-Mart StoresWMT61.4562.4861.2162.0223.6M
ConocoPhillipsCOP69.2472.6069.1971.8722.6M
HP Inc.HPQ46.1847.1246.0246.7622.2M
Home DepotHD29.3429.5328.7729.1019.8M
Procter & GamblePG71.8573.5471.8172.3919M
ChevronCVX79.6581.7279.3381.1617.7M
MerckMRK34.4334.4933.2733.5217.5M
Bristol-Myers SquibbBMY22.2022.5321.5021.6716.8M
SchlumbergerSLB82.0085.6981.7384.6115.8M
Walt Disney & Co.DIS32.6033.2332.4832.7713.9M
Abbott LaboratoriesABT57.4858.6357.1657.9013.6M
Johnson & JohnsonJNJ71.6572.0171.0271.2312.6M
AlphabetGOOGL424.47424.48409.68414.1612.4M
AltriaMO20.8021.0720.7120.7612.4M
Coca-ColaKO54.0754.1053.3153.8112.3M
International Business MachinesIBM116.40119.95116.10118.0411.9M
AmgenAMGN60.8562.7160.3862.1011.1M
VisaV67.2769.9066.6369.0411M
PepsicoPEP71.2671.9970.4271.8310.3M
AmazonAMZN80.0180.2276.1576.749.44M
BoeingBA63.5863.8161.5861.719.14M
Union PacificUNP72.3775.1071.2573.818.73M
McDonald'sMCD63.3863.7762.5963.208.68M
Gilead SciencesGILD46.6247.3346.2346.828.64M
UnitedHealth GroupUNH28.5129.5828.4229.318.17M
United TechnologiesUTX64.4564.4562.9063.326.22M
3MMMM69.9770.1268.4968.685.74M
Berkshire HathawayBRK.B3922.003945.003895.003895.0029.3K
Exchange Rates of September 10, 2008
CurrenciesExchange Rates
US DollarJapanese Yen1 USD = 107.770 JPY1 JPY = 0.009 USD
US DollarCanadian Dollar1 USD = 1.074 CAD1 CAD = 0.931 USD
US DollarSwiss Franc1 USD = 1.139 CHF1 CHF = 0.878 USD
US DollarChinese Yuan1 USD = 6.839 CNY1 CNY = 0.146 USD
EuroJapanese Yen1 EUR = 150.460 JPY1 JPY = 0.007 EUR
EuroPound Sterling1 EUR = 0.798 GBP1 GBP = 1.253 EUR
EuroAustralian Dollar1 EUR = 1.753 AUD1 AUD = 0.571 EUR
EuroCanadian Dollar1 EUR = 1.499 CAD1 CAD = 0.667 EUR
EuroSwiss Franc1 EUR = 1.590 CHF1 CHF = 0.629 EUR
EuroChinese Yuan1 EUR = 9.561 CNY1 CNY = 0.105 EUR
Japanese YenPound Sterling1 JPY = 0.531 GBP1 GBP = 1.885 JPY
Japanese YenAustralian Dollar1 JPY = 1.165 AUD1 AUD = 0.859 JPY
Japanese YenCanadian Dollar1 JPY = 0.996 CAD1 CAD = 1.004 JPY
Japanese YenSwiss Franc1 JPY = 1.057 CHF1 CHF = 0.946 JPY
Pound SterlingAustralian Dollar1 GBP = 2.196 AUD1 AUD = 0.455 GBP
Pound SterlingCanadian Dollar1 GBP = 1.878 CAD1 CAD = 0.532 GBP
Pound SterlingSwiss Franc1 GBP = 1.992 CHF1 CHF = 0.502 GBP
Pound SterlingChinese Yuan1 GBP = 11.957 CNY1 CNY = 0.084 GBP
Australian DollarCanadian Dollar1 AUD = 0.855 CAD1 CAD = 1.170 AUD
Australian DollarSwiss Franc1 AUD = 0.907 CHF1 CHF = 1.103 AUD
Australian DollarChinese Yuan1 AUD = 5.449 CNY1 CNY = 0.184 AUD
Canadian DollarSwiss Franc1 CAD = 1.060 CHF1 CHF = 0.943 CAD
Canadian DollarChinese Yuan1 CAD = 6.367 CNY1 CNY = 0.157 CAD
Swiss FrancChinese Yuan1 CHF = 6.007 CNY1 CNY = 0.166 CHF

See what else happened on September 10, 2008