Financial news on March 11, 2008

Business and Financial news
Business Travel Miscellany

Midsize companies hope to hold business travel spending at current levels. Read more..

By JOE SHARKEY - The New York Times

Citigroup Acts to Bolster Hedge Funds

The bank will inject $1 billion across six highly leveraged municipal bond funds with $15 billion in assets, which were sold under the names ASTA and MAT. Read more..

By ERIC DASH - The New York Times

Companies Hold Down Increases in Inventories

Inventories at wholesalers rose less than a third as much as sales, reflecting efforts by companies to keep stockpiles lean amid concerns about an economic slowdown. Read more..

By BLOOMBERG NEWS - The New York Times

Italy: Airport Restaurant Operator Makes Deals

Autogrill, the manager of airport restaurants, agreed to buy a BAA unit and the shares it does not own in Aldeasa, the Spanish-based airport retailer, for $1.5 billion, becoming the world’s largest owner of duty-free stores. Autogrill, based in Ro... Read more..

By BLOOMBERG NEWS - The New York Times

Lazard Chief’s Pay

The financial advisory and management firm’s chairman and chief executive, Bruce Wasserstein, received a salary of $4.8 million in 2007. Read more..

By DOW JONES NEWSWIRES - The New York Times

Malone Speaks of Diller as Court Battle Starts

The central question in the trial is who controls John C. Malone’s voting stake in IAC/InterActiveCorp — himself or Barry Diller, who controls IAC. Read more..

By RITA K. FARRELL - The New York Times

Pace of Change Too Slow to Keep Entrepreneurs in France

Economists say France will have to make much deeper changes to its culture’s attitude toward capitalism if it intends to keep young entrepreneurs at home. Read more..

By JOHN TAGLIABUE - The New York Times

Stupidity in High Places (Like 30,000 Feet)

A veteran business traveler ponders the question: Why do bright, successful business professionals suffer brain drain? Read more..

By DAVID WILLIAMS, As told to JOAN RAYMOND - The New York Times

The Best Seat in the Plane

Remember when first-class seats meant the best on the plane? That’s not always the case anymore. Read more..

By PERRY GARFINKEL - The New York Times

Stock Markets

Values are reported in US Dollars

Stock Ticker symbol Open High Low Close Volume
Microsoft MSFT 28,40 29,34 28,38 29,28 98.7M
Intel INTC 20,48 21,22 20,45 21,20 78.2M
General Electric GE 32,44 33,40 32,31 33,40 66.9M
Cisco Systems CSCO 24,55 25,16 24,43 25,15 66.5M
JPMorgan Chase JPM 38,48 39,26 37,16 38,84 58.4M
Wells Fargo & Co. WFC 29,85 30,82 28,75 30,82 51.2M
Oracle Corp. ORCL 19,65 19,95 19,10 19,51 48.2M
Apple AAPL 124,10 127,48 122,00 127,35 41.6M
UnitedHealth Group UNH 40,58 41,27 37,32 38,24 37.6M
Pfizer PFE 21,39 21,98 21,22 21,72 37.2M
ExxonMobil XOM 83,96 86,68 83,55 86,68 34.8M
AT&T Inc. T 35,26 36,22 35,03 36,09 31.3M
Wal-Mart Stores WMT 49,90 50,39 49,54 50,25 28.4M
Comcast CMCSA 19,61 19,64 19,28 19,61 24.1M
Home Depot HD 25,90 26,22 25,28 26,20 22.1M
ConocoPhillips COP 79,18 79,91 77,45 79,50 20.5M
Verizon Communications VZ 34,75 35,42 34,26 35,21 18.1M
Bristol-Myers Squibb BMY 21,77 21,77 21,53 21,73 17.9M
Altria MO 75,61 75,80 74,30 75,25 17.8M
Alphabet GOOGL 425,26 440,15 424,65 439,84 17.6M
Abbott Laboratories ABT 50,75 51,66 50,32 50,86 17M
Merck MRK 41,28 42,38 41,10 42,32 16.6M
Amgen AMGN 43,26 44,73 43,14 44,62 16.3M
Coca-Cola KO 59,20 59,68 58,87 59,47 14.9M
HP Inc. HPQ 47,67 48,00 46,61 47,92 14.5M
Walt Disney & Co. DIS 31,00 31,21 30,61 31,19 14.5M
Procter & Gamble PG 65,81 66,75 65,81 66,66 14.2M
Boeing BA 75,06 75,75 72,39 73,40 14.1M
Johnson & Johnson JNJ 62,03 62,53 61,49 62,44 13.6M
Chevron CVX 85,99 88,33 85,70 88,16 13.5M
Schlumberger SLB 84,36 86,61 84,36 86,61 10.6M
International Business Machines IBM 115,80 116,56 114,04 116,49 10.5M
Amazon AMZN 65,95 67,17 63,71 67,15 9.74M
McDonald's MCD 54,61 54,80 53,45 54,25 9.33M
Gilead Sciences GILD 46,77 47,28 46,00 47,26 9.16M
Pepsico PEP 70,43 70,43 68,98 69,95 7.22M
United Technologies UTX 67,71 68,37 66,53 68,37 5.99M
3M MMM 77,30 78,00 76,00 77,95 4.38M
Union Pacific UNP 121,87 124,54 120,60 124,54 2.8M
Berkshire Hathaway BRK.B 4390,00 4437,00 4350,00 4400,00 25.6K
Exchange Rates of March 11, 2008
CurrenciesExchange Rates
US Dollar Japanese Yen 1 USD = 103,420 JPY 1 JPY = 0,010 USD
US Dollar Canadian Dollar 1 USD = 0,992 CAD 1 CAD = 1,009 USD
US Dollar Swiss Franc 1 USD = 1,033 CHF 1 CHF = 0,968 USD
US Dollar Chinese Yuan 1 USD = 7,103 CNY 1 CNY = 0,141 USD
Euro Japanese Yen 1 EUR = 158,670 JPY 1 JPY = 0,006 EUR
Euro Pound Sterling 1 EUR = 0,764 GBP 1 GBP = 1,309 EUR
Euro Australian Dollar 1 EUR = 1,648 AUD 1 AUD = 0,607 EUR
Euro Canadian Dollar 1 EUR = 1,521 CAD 1 CAD = 0,658 EUR
Euro Swiss Franc 1 EUR = 1,585 CHF 1 CHF = 0,631 EUR
Japanese Yen Pound Sterling 1 JPY = 0,481 GBP 1 GBP = 2,078 JPY
Japanese Yen Australian Dollar 1 JPY = 1,038 AUD 1 AUD = 0,963 JPY
Japanese Yen Canadian Dollar 1 JPY = 0,958 CAD 1 CAD = 1,044 JPY
Japanese Yen Swiss Franc 1 JPY = 0,998 CHF 1 CHF = 1,002 JPY
Pound Sterling Australian Dollar 1 GBP = 2,158 AUD 1 AUD = 0,463 GBP
Pound Sterling Canadian Dollar 1 GBP = 1,990 CAD 1 CAD = 0,502 GBP
Pound Sterling Swiss Franc 1 GBP = 2,073 CHF 1 CHF = 0,482 GBP
Australian Dollar Canadian Dollar 1 AUD = 0,922 CAD 1 CAD = 1,085 AUD
Australian Dollar Swiss Franc 1 AUD = 0,961 CHF 1 CHF = 1,041 AUD
Canadian Dollar Swiss Franc 1 CAD = 1,042 CHF 1 CHF = 0,960 CAD

See what else happened on March 11, 2008