Financial news on June 11, 2008

Business and Financial news
A Decision That May Benefit Both Parent and Spinoff

James S. Tisch, has said that politics had nothing to do with the company’s decision to spin off Lorillard. Read more..

By STEPHANIE SAUL - The New York Times

Beloved Characters as Reimagined for the 21st Century

A large number of classic characters for children are being freshened up to try to cater to parents’ nostalgia and children’s YouTube-era sensibilities. Read more..

By BROOKS BARNES - The New York Times

Broadcasters Fare Surprisingly Well in Ad Sales

It appears that broadcasters may have matched the $9.1 billion to $9.2 billion they took in last spring before the start of the 2007-8 season. Read more..

By STUART ELLIOTT - The New York Times

Chinese Stocks Plunge 8.1 Percent

The Shanghai and Shenzhen markets fell after an increase in Chinese bank reserve requirements, increased worries about high food and oil prices, and fears about exports to the United States. Read more..

By KEITH BRADSHER - The New York Times

Harsh Words for Microsoft Technology

The European Union’s competition commissioner recommended that businesses and governments use software based on open standards. Read more..

By JAMES KANTER - The New York Times

Kerkorian Plans to Increase Stake in Ford

The billionaire financier said that he would increase his stake after stockholders offered to sell him nearly half of the automaker’s outstanding shares. Read more..

By NICK BUNKLEY - The New York Times

Safety Board Determines Pilot Fatigue Caused Skid

The National Transportation Safety Board cited sleepy pilots as a reason that a regional jet slid off a snowy runway in Traverse City, Mich., in April, 2007. Read more..

By MATTHEW L. WALD - The New York Times

Standing Up for Workers’ Rights in Japan

Japan’s salarymen have borne the brunt of its economic decline, enduring lower wages, job insecurity and long hours of unpaid overtime. Now, a few are fighting back. Read more..

By MARTIN FACKLER - The New York Times

U.S. News Plans to Publish Biweekly and Expand Consumer Focus

U.S. News & World Report will publish every other week, while continuing to expand the consumer reporting and product rankings it has bet its future on. Read more..

By RICHARD PÉREZ-PEÑA - The New York Times

Stock Markets

Values are reported in US Dollars

StockTicker symbolOpenHighLowCloseVolume
General ElectricGE30.3830.4529.8029.8367.1M
IntelINTC22.5322.6421.7921.8159.8M
PfizerPFE17.9217.9417.5017.5559.5M
MicrosoftMSFT27.8527.9427.1127.1259.3M
Cisco SystemsCSCO26.3026.4325.5225.6553.2M
JPMorgan ChaseJPM38.5038.7537.0737.1351M
Wells Fargo & Co.WFC26.1126.1625.5025.5548M
AT&T Inc.T37.1137.1935.9336.1435.5M
AppleAAPL184.34186.00179.59180.8134.3M
Oracle Corp.ORCL22.5022.7822.0522.0729M
MerckMRK36.5036.6335.4335.7325.8M
ComcastCMCSA21.5921.7921.4221.5024.4M
ExxonMobilXOM88.8089.4087.7788.6124.1M
Wal-Mart StoresWMT59.6959.7858.4758.5220.8M
Verizon CommunicationsVZ37.3737.3736.1336.6720.6M
Home DepotHD26.7126.8225.8525.9119.2M
ConocoPhillipsCOP93.6994.7693.0294.0817.3M
AltriaMO21.0821.0920.6720.7214.3M
VisaV81.0081.0077.6077.7414.2M
HP Inc.HPQ47.5047.5246.3146.4814.1M
Bristol-Myers SquibbBMY20.1220.2419.8019.9313.4M
Procter & GamblePG66.4366.8266.0266.2012.6M
Walt Disney & Co.DIS33.7533.9433.2533.2712.4M
Coca-ColaKO57.7257.8357.0157.1411.7M
UnitedHealth GroupUNH32.4932.5931.7631.9511.6M
ChevronCVX99.5599.9898.2799.4211.5M
Abbott LaboratoriesABT54.0054.4853.1053.5011M
Johnson & JohnsonJNJ65.5165.8565.1165.2010.4M
AmgenAMGN43.3643.6442.9042.959.34M
Union PacificUNP78.5078.6874.0474.108.93M
PepsicoPEP67.3568.0567.2267.497.95M
AlphabetGOOGL556.00557.34544.46545.207.62M
International Business MachinesIBM125.90125.90122.86123.257.21M
SchlumbergerSLB102.72103.13100.10101.306.75M
McDonald'sMCD59.7759.7758.6458.756.61M
BoeingBA73.4473.7772.9373.316.54M
United TechnologiesUTX67.0567.2066.5966.656.1M
AmazonAMZN79.3580.0077.0377.285.87M
Gilead SciencesGILD53.8454.1853.0953.155.79M
3MMMM76.0076.0075.0575.274.91M
Berkshire HathawayBRK.B4241.004276.004200.004220.0018.6K
Exchange Rates of June 11, 2008
CurrenciesExchange Rates
US DollarJapanese Yen1 USD = 106.820 JPY1 JPY = 0.009 USD
US DollarCanadian Dollar1 USD = 1.020 CAD1 CAD = 0.981 USD
US DollarSwiss Franc1 USD = 1.031 CHF1 CHF = 0.970 USD
US DollarChinese Yuan1 USD = 6.919 CNY1 CNY = 0.145 USD
EuroJapanese Yen1 EUR = 166.190 JPY1 JPY = 0.006 EUR
EuroPound Sterling1 EUR = 0.792 GBP1 GBP = 1.262 EUR
EuroAustralian Dollar1 EUR = 1.641 AUD1 AUD = 0.610 EUR
EuroCanadian Dollar1 EUR = 1.586 CAD1 CAD = 0.631 EUR
EuroSwiss Franc1 EUR = 1.604 CHF1 CHF = 0.623 EUR
Japanese YenPound Sterling1 JPY = 0.476 GBP1 GBP = 2.099 JPY
Japanese YenAustralian Dollar1 JPY = 0.987 AUD1 AUD = 1.013 JPY
Japanese YenCanadian Dollar1 JPY = 0.954 CAD1 CAD = 1.048 JPY
Japanese YenSwiss Franc1 JPY = 0.965 CHF1 CHF = 1.036 JPY
Pound SterlingAustralian Dollar1 GBP = 2.071 AUD1 AUD = 0.483 GBP
Pound SterlingCanadian Dollar1 GBP = 2.002 CAD1 CAD = 0.499 GBP
Pound SterlingSwiss Franc1 GBP = 2.024 CHF1 CHF = 0.494 GBP
Australian DollarCanadian Dollar1 AUD = 0.966 CAD1 CAD = 1.035 AUD
Australian DollarSwiss Franc1 AUD = 0.977 CHF1 CHF = 1.024 AUD
Canadian DollarSwiss Franc1 CAD = 1.011 CHF1 CHF = 0.989 CAD

See what else happened on June 11, 2008