Financial news on November 14th, 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..


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

StockTicker symbolOpenHighLowCloseVolume
General ElectricGE16.3617.0915.9516.02128M
Wells Fargo & Co.WFC28.2029.8927.6328.7369.1M
Cisco SystemsCSCO16.8917.4316.3316.6268.8M
JPMorgan ChaseJPM36.3336.9134.1634.4755.9M
Oracle Corp.ORCL17.2617.7916.6616.9051.9M
Procter & GamblePG64.8766.0061.9663.1142.3M
AT&T Inc.T28.0228.9926.5727.6539M
Wal-Mart StoresWMT54.4055.1252.5052.7125.8M
Home DepotHD21.7422.6420.3220.5425M
Verizon CommunicationsVZ30.4731.7829.6330.0024.8M
HP Inc.HPQ30.7232.0030.0030.4622.1M
Johnson & JohnsonJNJ61.5262.5059.6260.0522.1M
Bristol-Myers SquibbBMY20.0020.3218.0619.5817.2M
Walt Disney & Co.DIS21.1422.3920.9421.0816.9M
Abbott LaboratoriesABT56.2957.3354.9455.0616.8M
Gilead SciencesGILD46.7848.8446.2446.9215.1M
International Business MachinesIBM82.6385.4079.5080.3312M
UnitedHealth GroupUNH20.2721.5820.0120.029.85M
Union PacificUNP60.3161.0056.5057.277.3M
United TechnologiesUTX51.2953.5649.7450.237.23M
Berkshire HathawayBRK.B3385.003435.003302.003389.0044K
Exchange Rates of November 14th, 2008
CurrenciesExchange Rates
US DollarJapanese Yen1 USD = 97.100 JPY1 JPY = 0.010 USD
US DollarCanadian Dollar1 USD = 1.236 CAD1 CAD = 0.809 USD
US DollarSwiss Franc1 USD = 1.194 CHF1 CHF = 0.837 USD
US DollarChinese Yuan1 USD = 6.824 CNY1 CNY = 0.147 USD
EuroJapanese Yen1 EUR = 122.350 JPY1 JPY = 0.008 EUR
EuroPound Sterling1 EUR = 0.855 GBP1 GBP = 1.170 EUR
EuroAustralian Dollar1 EUR = 1.945 AUD1 AUD = 0.514 EUR
EuroCanadian Dollar1 EUR = 1.557 CAD1 CAD = 0.642 EUR
EuroSwiss Franc1 EUR = 1.506 CHF1 CHF = 0.664 EUR
EuroChinese Yuan1 EUR = 8.596 CNY1 CNY = 0.116 EUR
Japanese YenPound Sterling1 JPY = 0.699 GBP1 GBP = 1.431 JPY
Japanese YenAustralian Dollar1 JPY = 1.590 AUD1 AUD = 0.629 JPY
Japanese YenCanadian Dollar1 JPY = 1.273 CAD1 CAD = 0.786 JPY
Japanese YenSwiss Franc1 JPY = 1.231 CHF1 CHF = 0.813 JPY
Pound SterlingAustralian Dollar1 GBP = 2.275 AUD1 AUD = 0.440 GBP
Pound SterlingCanadian Dollar1 GBP = 1.821 CAD1 CAD = 0.549 GBP
Pound SterlingSwiss Franc1 GBP = 1.761 CHF1 CHF = 0.568 GBP
Pound SterlingChinese Yuan1 GBP = 10.046 CNY1 CNY = 0.100 GBP
Australian DollarCanadian Dollar1 AUD = 0.800 CAD1 CAD = 1.250 AUD
Australian DollarSwiss Franc1 AUD = 0.775 CHF1 CHF = 1.291 AUD
Australian DollarChinese Yuan1 AUD = 4.442 CNY1 CNY = 0.225 AUD
Canadian DollarSwiss Franc1 CAD = 0.968 CHF1 CHF = 1.033 CAD
Canadian DollarChinese Yuan1 CAD = 5.526 CNY1 CNY = 0.181 CAD
Swiss FrancChinese Yuan1 CHF = 5.705 CNY1 CNY = 0.175 CHF

See what else happened on November 14th, 2008