Financial news on March 12th, 2008

Business and Financial news
A Tropical Hotel Weekend Just Outside Chicago

Outside, there’s snow. Inside the balmy new KeyLime Cove Water Resort, waves pound a beach lined with Adirondack chairs. Read more..

By LONG HWA-SHU - The New York Times

Broker Held in French Trading Case

French authorities said they have arrested a broker at Société Générale in connection with a trading scandal. Read more..

By NICOLA CLARK - The New York Times

Fed Hopes to Ease Strain on Economic Activity

The Federal Reserve offered to let the biggest investment banks borrow up to $200 billion in Treasury securities, which sent stock prices soaring. Read more..

By EDMUND L. ANDREWS - The New York Times

High Finance Backfires on Alabama County

Jefferson County is teetering on the brink of bankruptcy after a series of exotic bond deals. It’s an extreme case, but one with echoes across the country. Read more..


Medicare to Keep Paying for Heart Scans

Reversing a proposed decision issued last December, Medicare said that it would continue to cover the use of a scanning procedure used to detect heart disease. Read more..

By REED ABELSON - The New York Times

Parent of Airbus Posts First Annual Loss in 5 Years

The parent of Airbus posted a loss of 446 million euros, or $684 million, for 2007 but insisted that it has put the worst behind it. Read more..

By NICOLA CLARK - The New York Times

Standoff in Japan Over Central Bank Nominee

A political showdown is blocking Japan from selecting the next leader of its central bank, increasing the chances that the post could sit vacant at a time of growing financial turmoil. Read more..

By MARTIN FACKLER - The New York Times

Tech’s Late Adopters Prefer the Tried and True

Millions of people are reluctant to change their technology habits just for the sake of progress. Read more..

By MIGUEL HELFT - The New York Times

Trial on Control of IAC Focuses on a Deal’s Intent

The testimony on the second day of a trial to settle a dispute over the control of IAC/InterActiveCorp reduced a clash of billionaire titans to a debate about detail. Read more..

By RITA K. FARRELL - The New York Times

When a Corporate Donation Raises Protests

Children’s advocates contend that an Ohio hospital went too far by naming a department after Abercrombie & Fitch in exchange for a $10 million donation. Read more..

By STUART ELLIOTT - The New York Times

Stock Markets

Values are reported in US Dollars

StockTicker symbolOpenHighLowCloseVolume
General ElectricGE33.4634.4633.4533.9670.6M
Cisco SystemsCSCO25.1725.6025.0025.1457M
Oracle Corp.ORCL19.5820.1719.4319.6848.2M
JPMorgan ChaseJPM38.8540.2338.4038.6144.6M
Wells Fargo & Co.WFC30.2631.5929.4429.5439.5M
UnitedHealth GroupUNH35.6438.6234.6736.6835.3M
Wal-Mart StoresWMT50.0250.7249.9450.2926.3M
AT&T Inc.T36.2036.2035.2135.3225.2M
Verizon CommunicationsVZ35.4235.4734.4134.5823M
Home DepotHD26.2727.1325.9726.1320M
Bristol-Myers SquibbBMY21.7421.7721.3021.3616M
Johnson & JohnsonJNJ62.9063.1362.1462.5513.1M
HP Inc.HPQ47.6647.9947.1147.2712.3M
Abbott LaboratoriesABT51.3751.7851.0051.3410.7M
Walt Disney & Co.DIS31.2631.8231.2031.419.65M
Procter & GamblePG66.8467.6366.6467.049.64M
International Business MachinesIBM116.10118.00115.11117.079.08M
Gilead SciencesGILD47.8348.7747.5048.018.17M
United TechnologiesUTX68.5069.0268.0568.204.33M
Union PacificUNP124.99125.93123.13123.393.08M
Berkshire HathawayBRK.B4425.004429.004340.004357.0018.2K
Exchange Rates of March 12th, 2008
CurrenciesExchange Rates
US DollarJapanese Yen1 USD = 101.340 JPY1 JPY = 0.010 USD
US DollarCanadian Dollar1 USD = 0.989 CAD1 CAD = 1.011 USD
US DollarSwiss Franc1 USD = 1.014 CHF1 CHF = 0.986 USD
US DollarChinese Yuan1 USD = 7.102 CNY1 CNY = 0.141 USD
EuroJapanese Yen1 EUR = 157.740 JPY1 JPY = 0.006 EUR
EuroPound Sterling1 EUR = 0.767 GBP1 GBP = 1.303 EUR
EuroAustralian Dollar1 EUR = 1.665 AUD1 AUD = 0.601 EUR
EuroCanadian Dollar1 EUR = 1.540 CAD1 CAD = 0.650 EUR
EuroSwiss Franc1 EUR = 1.577 CHF1 CHF = 0.634 EUR
Japanese YenPound Sterling1 JPY = 0.486 GBP1 GBP = 2.057 JPY
Japanese YenAustralian Dollar1 JPY = 1.055 AUD1 AUD = 0.948 JPY
Japanese YenCanadian Dollar1 JPY = 0.976 CAD1 CAD = 1.025 JPY
Japanese YenSwiss Franc1 JPY = 1.000 CHF1 CHF = 1.000 JPY
Pound SterlingAustralian Dollar1 GBP = 2.170 AUD1 AUD = 0.461 GBP
Pound SterlingCanadian Dollar1 GBP = 2.006 CAD1 CAD = 0.498 GBP
Pound SterlingSwiss Franc1 GBP = 2.055 CHF1 CHF = 0.487 GBP
Australian DollarCanadian Dollar1 AUD = 0.924 CAD1 CAD = 1.082 AUD
Australian DollarSwiss Franc1 AUD = 0.946 CHF1 CHF = 1.057 AUD
Canadian DollarSwiss Franc1 CAD = 1.024 CHF1 CHF = 0.977 CAD

See what else happened on March 12th, 2008