Financial news on November 14, 2008

Business and Financial news
Accountability Needed With Bailouts

As the line for handouts grows, the government must gain a better understanding of the problems and a willingness to force painful changes on these troubled industries. Read more..

By FLOYD NORRIS - The New York Times

BT Group to Cut 10,000 Jobs, Mostly Outside Contractors

Britain’s biggest phone company, the BT Group, said that it would cut about 6 percent of its work force as it sought to revive profit growth. Read more..

By JULIA WERDIGIER - The New York Times

China Eases a Licensing Rule for Media

China agreed to loosen restrictions on foreign news and information providers inside the country, settling a trade dispute with the United States, the European Union and Canada. Read more..

By DAVID BARBOZA - The New York Times

German Economic Data Show Recession

The German economy tipped into recession in the third quarter as weakening exports fueled a decline in national output. Read more..

By JUDY DEMPSEY - The New York Times

Holiday Season Looking Cheerless

The gloomy outlook unveiled this week by the electronics giant Best Buy and a plunge in September retail sales show that consumers are in full retreat. Read more..

By MARTIN HUTCHINSON and FIONA MAHARG BRAVO - The New York Times

Lower Gas Prices Don’t Make Americans Feel Rich

Motorists’ gas bills are down but instead of spending the money, they are putting it in the bank and paying debt. Read more..

By CHRISTOPHER MAAG - The New York Times

Many Line Up for Cash, but Bailout Plan Falters

More than a month after the government began a financial rescue of Wall Street, many of the nation’s financial arteries seem as clogged as they were before. Read more..

By MICHAEL J. de la MERCED - The New York Times

Siemens Reports Huge Loss

Siemens, the German industrial conglomerate, reported a huge quarterly loss as it wrote off the cost of shedding its troubled business telecommunications unit. Read more..

By DAVID JOLLY - The New York Times

What Happens When Your Insurer Goes Under?

A sort of low-grade fear has set in among insurance policyholders. How can you protect yourself? Read more..

By RON LIEBER - The New York Times

Worst May Be Yet to Come for Citigroup

Once the most valuable financial company in America, Citigroup is experiencing a shrinking share price and work force. Read more..

By ERIC DASH - The New York Times

Stock Markets

Values are reported in US Dollars

Stock Ticker symbol Open High Low Close Volume
General Electric GE 16.36 17.09 15.95 16.02 128M
Microsoft MSFT 20.56 21.34 19.65 20.06 96.6M
Intel INTC 14.07 14.12 13.24 13.32 74.9M
Wells Fargo & Co. WFC 28.20 29.89 27.63 28.73 69.1M
Cisco Systems CSCO 16.89 17.43 16.33 16.62 68.8M
JPMorgan Chase JPM 36.33 36.91 34.16 34.47 55.9M
ExxonMobil XOM 73.80 77.75 71.90 73.68 54M
Oracle Corp. ORCL 17.26 17.79 16.66 16.90 51.9M
Apple AAPL 93.76 93.99 90.00 90.24 50.2M
Pfizer PFE 16.45 17.09 16.22 16.28 50.1M
Procter & Gamble PG 64.87 66.00 61.96 63.11 42.3M
AT&T Inc. T 28.02 28.99 26.57 27.65 39M
Comcast CMCSA 16.10 16.76 15.48 15.53 27.7M
Chevron CVX 73.94 77.35 69.99 72.68 26.6M
Wal-Mart Stores WMT 54.40 55.12 52.50 52.71 25.8M
Home Depot HD 21.74 22.64 20.32 20.54 25M
Verizon Communications VZ 30.47 31.78 29.63 30.00 24.8M
HP Inc. HPQ 30.72 32.00 30.00 30.46 22.1M
Johnson & Johnson JNJ 61.52 62.50 59.62 60.05 22.1M
Altria MO 16.46 16.81 16.20 16.26 21.7M
ConocoPhillips COP 47.92 49.97 45.50 47.39 21.6M
Alphabet GOOGL 303.25 324.99 302.56 310.02 19M
Bristol-Myers Squibb BMY 20.00 20.32 18.06 19.58 17.2M
Walt Disney & Co. DIS 21.14 22.39 20.94 21.08 16.9M
Abbott Laboratories ABT 56.29 57.33 54.94 55.06 16.8M
Coca-Cola KO 45.59 47.18 44.98 45.02 16.7M
Merck MRK 27.96 28.77 27.25 27.33 16.2M
Gilead Sciences GILD 46.78 48.84 46.24 46.92 15.1M
Schlumberger SLB 50.22 52.40 47.51 48.76 14.6M
McDonald's MCD 55.33 58.30 54.63 56.13 12.9M
Amgen AMGN 59.01 60.00 57.89 58.23 12.3M
International Business Machines IBM 82.63 85.40 79.50 80.33 12M
Amazon AMZN 43.61 44.50 41.50 41.75 11.9M
Pepsico PEP 54.78 56.13 52.11 53.52 9.99M
UnitedHealth Group UNH 20.27 21.58 20.01 20.02 9.85M
Visa V 53.11 57.00 52.45 54.24 9.35M
Boeing BA 42.01 43.76 40.80 41.04 8.91M
Union Pacific UNP 60.31 61.00 56.50 57.27 7.3M
United Technologies UTX 51.29 53.56 49.74 50.23 7.23M
3M MMM 63.22 65.95 62.60 63.06 7M
Berkshire Hathaway BRK.B 3385.00 3435.00 3302.00 3389.00 44K
Exchange Rates of November 14, 2008
CurrenciesExchange Rates
US Dollar Japanese Yen 1 USD = 97.100 JPY 1 JPY = 0.010 USD
US Dollar Canadian Dollar 1 USD = 1.236 CAD 1 CAD = 0.809 USD
US Dollar Swiss Franc 1 USD = 1.194 CHF 1 CHF = 0.837 USD
US Dollar Chinese Yuan 1 USD = 6.824 CNY 1 CNY = 0.147 USD
Euro Japanese Yen 1 EUR = 122.350 JPY 1 JPY = 0.008 EUR
Euro Pound Sterling 1 EUR = 0.855 GBP 1 GBP = 1.170 EUR
Euro Australian Dollar 1 EUR = 1.945 AUD 1 AUD = 0.514 EUR
Euro Canadian Dollar 1 EUR = 1.557 CAD 1 CAD = 0.642 EUR
Euro Swiss Franc 1 EUR = 1.506 CHF 1 CHF = 0.664 EUR
Euro Chinese Yuan 1 EUR = 8.596 CNY 1 CNY = 0.116 EUR
Japanese Yen Pound Sterling 1 JPY = 0.699 GBP 1 GBP = 1.431 JPY
Japanese Yen Australian Dollar 1 JPY = 1.590 AUD 1 AUD = 0.629 JPY
Japanese Yen Canadian Dollar 1 JPY = 1.273 CAD 1 CAD = 0.786 JPY
Japanese Yen Swiss Franc 1 JPY = 1.231 CHF 1 CHF = 0.813 JPY
Pound Sterling Australian Dollar 1 GBP = 2.275 AUD 1 AUD = 0.440 GBP
Pound Sterling Canadian Dollar 1 GBP = 1.821 CAD 1 CAD = 0.549 GBP
Pound Sterling Swiss Franc 1 GBP = 1.761 CHF 1 CHF = 0.568 GBP
Pound Sterling Chinese Yuan 1 GBP = 10.046 CNY 1 CNY = 0.100 GBP
Australian Dollar Canadian Dollar 1 AUD = 0.800 CAD 1 CAD = 1.250 AUD
Australian Dollar Swiss Franc 1 AUD = 0.775 CHF 1 CHF = 1.291 AUD
Australian Dollar Chinese Yuan 1 AUD = 4.442 CNY 1 CNY = 0.225 AUD
Canadian Dollar Swiss Franc 1 CAD = 0.968 CHF 1 CHF = 1.033 CAD
Canadian Dollar Chinese Yuan 1 CAD = 5.526 CNY 1 CNY = 0.181 CAD
Swiss Franc Chinese Yuan 1 CHF = 5.705 CNY 1 CNY = 0.175 CHF

See what else happened on November 14, 2008