Financial news on January 11, 2008

Business and Financial news
American Express Warns About Earnings

The company will take a $275 million fourth-quarter charge as more cardholders fail to repay their debts. Read more..

By BLOOMBERG NEWS - The New York Times

Blackstone to Buy Hedge Fund to Strengthen Credit Operations

The Blackstone Group agreed to buy GSO Capital Partners as it seeks to build its credit operations amid tough market conditions. Read more..

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

Cuomo Subpoenas Intel Over Antitrust Accusations

The New York State attorney general issued a wide-ranging subpoena as part of an investigation into whether the Intel Corporation violated federal or state antitrust laws. Read more..

By NICHOLAS CONFESSORE - The New York Times

Fed Chief Signals Further Rate Cut

Ben S. Bernanke sent a strong signal that the central bank will lower interest rates again. Read more..

By LOUIS UCHITELLE and MICHAEL M. GRYNBAUM - The New York Times

Hot Prospect for Oil’s Big League

A huge underwater oil field discovered late last year has the potential to transform Brazil into a sizable exporter and win it a seat at the table of the world’s oil cartel. Read more..

By ALEXEI BARRIONUEVO - The New York Times

In Writers Strike, Signs of Internal Discontent Over Tactics

Some writers wonder whether the guild’s militant tactics are actually doing more damage than good. Read more..

By MICHAEL CIEPLY - The New York Times

Leader of Microsoft’s Office Business Is Retiring

Jeff Raikes, a 26-year veteran of Microsoft, plans to retire later this year and the company announced that it was reaching outside its ranks for his successor. Read more..

By STEVE LOHR - The New York Times

NYSE Urges China to Be Flexible on Where Companies Raise Capital

With an economic boom in developing countries, established stock exchanges are increasingly dependent on attracting business from companies based far from their home countries. Read more..

By JAMES KANTER - The New York Times

Wholesale Inventories Rise, Suggesting Output May Fall

Inventories at wholesalers rose more than forecast in November and sales increased, reflecting rising prices for oil and farm products. Read more..

By BLOOMBERG NEWS - The New York Times

Stock Markets

Values are reported in US Dollars

StockTicker symbolOpenHighLowCloseVolume
IntelINTC22.2522.3621.7721.9975.9M
MicrosoftMSFT34.1434.2433.7233.9155.2M
Cisco SystemsCSCO25.9626.2525.6525.8751.5M
Oracle Corp.ORCL21.5321.6921.0621.1046.3M
General ElectricGE35.5135.6034.9835.1746M
PfizerPFE23.9524.1423.7624.0245.2M
AppleAAPL176.00177.85170.00172.6944M
JPMorgan ChaseJPM41.0842.1040.3940.8637.5M
McDonald'sMCD56.7656.9053.3254.3233.2M
Wells Fargo & Co.WFC27.7128.6427.1528.2032.9M
AT&T Inc.T38.9639.1837.8838.2029.8M
Wal-Mart StoresWMT48.0648.6147.5047.7228.2M
ExxonMobilXOM90.9191.8690.0090.3022.7M
ComcastCMCSA16.9817.2816.8817.1222.6M
HP Inc.HPQ45.5045.6544.8545.0018.2M
Procter & GamblePG72.0172.3070.0170.1818M
Verizon CommunicationsVZ43.4043.7042.0142.5018M
Home DepotHD25.1025.5624.5724.7117.6M
Abbott LaboratoriesABT59.5060.7659.5060.5016.6M
Coca-ColaKO65.3865.3863.4663.7716.1M
Bristol-Myers SquibbBMY26.7127.0126.4326.4815.9M
Johnson & JohnsonJNJ67.4568.0367.3467.8815.5M
ConocoPhillipsCOP84.6984.7082.6383.0414.6M
Walt Disney & Co.DIS30.7630.8830.2130.3211.7M
AltriaMO78.5079.5978.3579.0210.6M
AmazonAMZN84.0384.0380.2981.0810.6M
ChevronCVX91.7392.5790.2390.6710.6M
AlphabetGOOGL642.70649.47630.11638.259.94M
SchlumbergerSLB96.2196.5793.7894.019.88M
MerckMRK60.0361.1860.0060.559.44M
AmgenAMGN47.3148.0047.2647.629.08M
International Business MachinesIBM99.2599.4697.0497.678.96M
Gilead SciencesGILD48.3249.0048.1448.688.75M
3MMMM79.7681.0676.9777.588.41M
PepsicoPEP78.9279.1776.6977.788.06M
BoeingBA81.0081.7880.0080.526.56M
UnitedHealth GroupUNH55.9356.5955.4755.916.14M
United TechnologiesUTX72.0372.4771.2871.685.7M
Union PacificUNP115.55117.33113.17114.112.28M
Berkshire HathawayBRK.B4459.004463.004318.004377.0016.7K
Exchange Rates of January 11, 2008
CurrenciesExchange Rates
US DollarJapanese Yen1 USD = 108.820 JPY1 JPY = 0.009 USD
US DollarCanadian Dollar1 USD = 1.019 CAD1 CAD = 0.982 USD
US DollarSwiss Franc1 USD = 1.101 CHF1 CHF = 0.908 USD
US DollarChinese Yuan1 USD = 7.263 CNY1 CNY = 0.138 USD
EuroJapanese Yen1 EUR = 160.800 JPY1 JPY = 0.006 EUR
EuroPound Sterling1 EUR = 0.755 GBP1 GBP = 1.324 EUR
EuroAustralian Dollar1 EUR = 1.658 AUD1 AUD = 0.603 EUR
EuroCanadian Dollar1 EUR = 1.506 CAD1 CAD = 0.664 EUR
EuroSwiss Franc1 EUR = 1.627 CHF1 CHF = 0.615 EUR
Japanese YenPound Sterling1 JPY = 0.469 GBP1 GBP = 2.130 JPY
Japanese YenAustralian Dollar1 JPY = 1.031 AUD1 AUD = 0.970 JPY
Japanese YenCanadian Dollar1 JPY = 0.936 CAD1 CAD = 1.068 JPY
Japanese YenSwiss Franc1 JPY = 1.012 CHF1 CHF = 0.988 JPY
Pound SterlingAustralian Dollar1 GBP = 2.196 AUD1 AUD = 0.455 GBP
Pound SterlingCanadian Dollar1 GBP = 1.994 CAD1 CAD = 0.502 GBP
Pound SterlingSwiss Franc1 GBP = 2.154 CHF1 CHF = 0.464 GBP
Australian DollarCanadian Dollar1 AUD = 0.907 CAD1 CAD = 1.102 AUD
Australian DollarSwiss Franc1 AUD = 0.981 CHF1 CHF = 1.020 AUD
Canadian DollarSwiss Franc1 CAD = 1.080 CHF1 CHF = 0.926 CAD

See what else happened on January 11, 2008