Financial news on March 13th, 2008

Business and Financial news
2 Weeks Off for Almost Everyone at Chrysler

The automaker announced that it planned to halt virtually all of its operations for two weeks in July as part of its effort to cut costs and return to profitability. Read more..

By NICK BUNKLEY - The New York Times

British Budget Raises Taxes and Borrowing

To deal with an economic slowdown, the government, which has been aiming to lower the deficit, said it would borrow an additional £7 billion, or $14 billion, next year. Read more..

By JULIA WERDIGIER - The New York Times

Carlyle Fund Expects Assets Will Be Seized

Shares of Carlyle Capital lost most of their value after discussions with banks to refinance the fund failed. Read more..

By JULIA WERDIGIER - The New York Times

Gazprom and Ukraine Detail Gas Settlement

The two sides have agreed to eliminate intermediaries from the gas distribution market in Ukraine, including a gas trading company partly owned by Gazprom that has been much criticized. Read more..

By ANDREW E. KRAMER - The New York Times

New Inspections Ground 38 Southwest Jets

The episode raises further questions about Southwest’s maintenance procedures and about oversight by the Federal Aviation Administration. Read more..

By JEFF BAILEY - The New York Times

Putting a Hard Number on Retirement

The United States arm of ING is launching a “Your Number” campaign, which refers to the amount of money that you will need to retire comfortably. Read more..

By LYNNLEY BROWNING - The New York Times

Stock Markets

Values are reported in US Dollars

StockTicker symbolOpenHighLowCloseVolume
Cisco SystemsCSCO24.8425.1224.4024.9577M
General ElectricGE33.5234.5133.3134.2564.5M
Wells Fargo & Co.WFC28.8029.8227.8729.4851.6M
JPMorgan ChaseJPM37.8538.9536.6338.1145.5M
Oracle Corp.ORCL19.5719.9919.3619.8443.7M
UnitedHealth GroupUNH37.7039.6537.1138.2830.4M
Wal-Mart StoresWMT50.0050.6749.4650.6029.9M
AT&T Inc.T34.9235.9034.6535.5024.9M
Home DepotHD25.8626.6625.4826.4820.2M
Abbott LaboratoriesABT51.3652.9951.1552.5517.3M
Verizon CommunicationsVZ34.0935.1033.7134.6716.6M
Procter & GamblePG66.7167.6366.5967.3616.2M
Johnson & JohnsonJNJ62.1163.4461.6662.8115.8M
HP Inc.HPQ46.5947.5246.0947.0215.7M
Bristol-Myers SquibbBMY21.1421.7020.9021.4111.8M
Gilead SciencesGILD48.3249.0747.4148.4911M
Walt Disney & Co.DIS31.0631.5830.8231.3310.6M
International Business MachinesIBM115.69116.78113.64115.919.55M
United TechnologiesUTX67.3968.9967.0868.515.17M
Union PacificUNP121.50123.88120.51123.382.8M
Berkshire HathawayBRK.B4333.004369.004300.004334.0016.2K
Exchange Rates of March 13th, 2008
CurrenciesExchange Rates
US DollarJapanese Yen1 USD = 100.430 JPY1 JPY = 0.010 USD
US DollarCanadian Dollar1 USD = 0.983 CAD1 CAD = 1.018 USD
US DollarSwiss Franc1 USD = 1.009 CHF1 CHF = 0.991 USD
US DollarChinese Yuan1 USD = 7.090 CNY1 CNY = 0.141 USD
EuroJapanese Yen1 EUR = 156.780 JPY1 JPY = 0.006 EUR
EuroPound Sterling1 EUR = 0.769 GBP1 GBP = 1.301 EUR
EuroAustralian Dollar1 EUR = 1.652 AUD1 AUD = 0.605 EUR
EuroCanadian Dollar1 EUR = 1.536 CAD1 CAD = 0.651 EUR
EuroSwiss Franc1 EUR = 1.576 CHF1 CHF = 0.635 EUR
Japanese YenPound Sterling1 JPY = 0.490 GBP1 GBP = 2.040 JPY
Japanese YenAustralian Dollar1 JPY = 1.054 AUD1 AUD = 0.949 JPY
Japanese YenCanadian Dollar1 JPY = 0.979 CAD1 CAD = 1.021 JPY
Japanese YenSwiss Franc1 JPY = 1.005 CHF1 CHF = 0.995 JPY
Pound SterlingAustralian Dollar1 GBP = 2.150 AUD1 AUD = 0.465 GBP
Pound SterlingCanadian Dollar1 GBP = 1.998 CAD1 CAD = 0.501 GBP
Pound SterlingSwiss Franc1 GBP = 2.049 CHF1 CHF = 0.488 GBP
Australian DollarCanadian Dollar1 AUD = 0.929 CAD1 CAD = 1.077 AUD
Australian DollarSwiss Franc1 AUD = 0.953 CHF1 CHF = 1.049 AUD
Canadian DollarSwiss Franc1 CAD = 1.026 CHF1 CHF = 0.975 CAD

See what else happened on March 13th, 2008