Financial news on December 12, 2008

Business and Financial news
As Buyout Fails, Bell Canada Seeks to Bolster a Struggling Business

With the buyout of Bell Canada over except for the potential litigation, the company possibly faces a bigger issue: reversing the decline of its business. Read more..

By IAN AUSTEN - The New York Times

‘Car Czar’ a Fuzzy Description for a Big Job

It’s not clear whether there will be a chief overseer for Detroit, but if there is, he or she will need not only the power to force change but also an abundance of personality and political skills. Read more..

By DAVID E. SANGER - The New York Times

Fury Builds Over Crisis at Banks

Efforts by the big banks to point the finger of blame elsewhere seem to be failing at the same time public anger is growing. Read more..

By FLOYD NORRIS - The New York Times

No Question We’re in a Financial Pickle. What Do We Call It?

The current economic problems are the rare major news event without a defining logo, one that crystallizes attention and acts as a shorthand for reporters and the public. Read more..

By BRIAN STELTER - The New York Times

Pensions Get a Reprieve in Congress

Companies whose pension funds suffered big losses this year will not have to replenish the money quickly under a relief measure that flew through the Senate. Read more..

By MARY WILLIAMS WALSH - The New York Times

Plain Dealer’s Music Critic, His Beat Changed, Sues Paper and Orchestra

A classical music critic who was removed from his post at The Cleveland Plain Dealer after a history of negative reviews of the Cleveland Orchestra’s music director struck back with a lawsuit. Read more..

By DANIEL J. WAKIN - The New York Times

Prominent Trader Accused of Defrauding Clients

Charges say the scheme engineered by Bernard L. Madoff caused $50 billion in losses. Read more..

By DIANA B. HENRIQUES and ZACHERY KOUWE - The New York Times

Proposed Web Filter Criticized in Australia

The system would force Internet service providers to block access to thousands of sites containing questionable or illegal content. Read more..

By MERAIAH FOLEY - The New York Times

Washington Ideologies Clash on Bailout

Chief Washington Correspondent David E. Sanger discusses the failure and future of the auto industry bailout. Read more..

Emily B. Hager - The New York Times

White House Ready to Aid Auto Industry

The Bush administration said it would consider dipping into the $700 billion rescue fund to help automakers. Read more..

By STEPHEN LABATON and DAVID M. HERSZENHORN - The New York Times

Stock Markets

Values are reported in US Dollars

StockTicker symbolOpenHighLowCloseVolume
MicrosoftMSFT19.1519.8518.7019.3678.1M
General ElectricGE16.6017.2916.4017.1172.1M
IntelINTC13.7014.8313.6914.7569.9M
JPMorgan ChaseJPM28.4431.2228.0130.9459.9M
Wells Fargo & Co.WFC24.8426.8724.6726.7251.4M
Cisco SystemsCSCO16.5317.1916.5116.9947M
ExxonMobilXOM78.0481.0077.8480.4544.3M
PfizerPFE16.5316.9816.2816.9243.8M
AppleAAPL92.8099.0092.5398.2737.2M
Oracle Corp.ORCL16.1116.9416.0716.8433M
AT&T Inc.T27.4228.4727.2828.1832.8M
ComcastCMCSA15.7216.0815.1815.6531.9M
AltriaMO14.8915.4114.7515.3424.1M
Bristol-Myers SquibbBMY20.9322.5820.9322.5123.7M
Wal-Mart StoresWMT53.7554.8853.7554.6323.6M
Verizon CommunicationsVZ31.7433.2731.7432.8021.9M
Home DepotHD22.3123.7222.1623.4720.8M
ChevronCVX77.1280.5976.7279.0017.8M
HP Inc.HPQ34.0636.1034.0035.9717.6M
Abbott LaboratoriesABT50.0550.7849.3450.7517.2M
Procter & GamblePG58.3359.2357.0558.9416.8M
ConocoPhillipsCOP50.5052.8750.0151.3916.1M
Coca-ColaKO43.7544.6443.0044.5715.2M
Walt Disney & Co.DIS22.1222.8621.9322.6115M
Johnson & JohnsonJNJ57.2157.6456.4157.2514.7M
Union PacificUNP45.3745.5041.8442.8114.5M
MerckMRK25.9027.1525.8227.0413.3M
SchlumbergerSLB40.1141.3039.0741.1012M
AlphabetGOOGL295.71316.47294.00315.7611.4M
International Business MachinesIBM78.6882.9478.0682.2010.4M
BoeingBA39.5639.7438.2039.2010.3M
United TechnologiesUTX45.8148.9545.5248.829.97M
McDonald'sMCD59.6261.1859.5260.599.83M
AmazonAMZN47.5251.3847.5251.258.66M
UnitedHealth GroupUNH22.8223.8422.5523.548.31M
AmgenAMGN56.0658.3456.0558.137.3M
PepsicoPEP51.5552.3451.0152.036.98M
Gilead SciencesGILD43.5745.2243.0545.036.36M
VisaV50.5153.9150.5052.956.28M
3MMMM54.2756.5753.5956.044.72M
Berkshire HathawayBRK.B3155.003349.003150.003242.0038.7K
Exchange Rates of December 12, 2008
CurrenciesExchange Rates
US DollarJapanese Yen1 USD = 91.090 JPY1 JPY = 0.011 USD
US DollarCanadian Dollar1 USD = 1.248 CAD1 CAD = 0.801 USD
US DollarSwiss Franc1 USD = 1.178 CHF1 CHF = 0.849 USD
US DollarChinese Yuan1 USD = 6.843 CNY1 CNY = 0.146 USD
EuroJapanese Yen1 EUR = 121.790 JPY1 JPY = 0.008 EUR
EuroPound Sterling1 EUR = 0.894 GBP1 GBP = 1.118 EUR
EuroAustralian Dollar1 EUR = 2.012 AUD1 AUD = 0.497 EUR
EuroCanadian Dollar1 EUR = 1.669 CAD1 CAD = 0.599 EUR
EuroSwiss Franc1 EUR = 1.574 CHF1 CHF = 0.635 EUR
EuroChinese Yuan1 EUR = 9.156 CNY1 CNY = 0.109 EUR
Japanese YenPound Sterling1 JPY = 0.734 GBP1 GBP = 1.363 JPY
Japanese YenAustralian Dollar1 JPY = 1.651 AUD1 AUD = 0.606 JPY
Japanese YenCanadian Dollar1 JPY = 1.370 CAD1 CAD = 0.730 JPY
Japanese YenSwiss Franc1 JPY = 1.292 CHF1 CHF = 0.774 JPY
Pound SterlingAustralian Dollar1 GBP = 2.249 AUD1 AUD = 0.445 GBP
Pound SterlingCanadian Dollar1 GBP = 1.866 CAD1 CAD = 0.536 GBP
Pound SterlingSwiss Franc1 GBP = 1.761 CHF1 CHF = 0.568 GBP
Pound SterlingChinese Yuan1 GBP = 10.226 CNY1 CNY = 0.098 GBP
Australian DollarCanadian Dollar1 AUD = 0.829 CAD1 CAD = 1.206 AUD
Australian DollarSwiss Franc1 AUD = 0.781 CHF1 CHF = 1.281 AUD
Australian DollarChinese Yuan1 AUD = 4.541 CNY1 CNY = 0.220 AUD
Canadian DollarSwiss Franc1 CAD = 0.942 CHF1 CHF = 1.062 CAD
Canadian DollarChinese Yuan1 CAD = 5.484 CNY1 CNY = 0.182 CAD
Swiss FrancChinese Yuan1 CHF = 5.812 CNY1 CNY = 0.172 CHF

See what else happened on December 12, 2008