Financial news on October 15th, 2007

Business and Financial news
Banks to Start Fund to Protect Credit Market

Citigroup, Bank of America and JPMorgan Chase plan to create a $75 billion to $100 billion fund to buy bonds and other debt at a time when many investors are avoiding them. Read more..

By VIKAS BAJAJ - The New York Times

Celebrities Off Guard? ‘TMZ’ Is a Hit

The early success of “TMZ,” a new syndicated TV show based on the popular Web site of the same name, shows just how valuable the celebrity news niche has become. Read more..

By BRIAN STELTER - The New York Times

Citigroup Profit Fell 57% in Third Quarter

The setback for the global banking giant, which sent the stock market into a sharp decline, was the latest fallout from the subprime mortgage crisis. Read more..

By ERIC DASH - The New York Times

Clear the Bookshelf and Fill It Up Again, All Online

BookMooch’s co-founder said the books that move well on the book-swapping site are the same kinds of books that sell well at a bookstore: fiction and self-help. Read more..

By JOANNE KAUFMAN - The New York Times

Gawker Kerfuffle, in Plain View

Turf battles between editorial and advertising departments are nothing new, but this one played out in real time, with readers as spectators. Read more..

By ANDREW ADAM NEWMAN - The New York Times

Group Plans to Provide Investigative Journalism

Pro Publica hopes to fill in recent cutbacks in investigative reporting by giving away its work to newspapers and magazines where it will make the strongest impression. Read more..

By RICHARD PÉREZ-PEÑA - The New York Times

Medtronic Predicts Drop in Sales

Medtronic said it expected revenue to fall by as much as 7 percent as a result of problems with a component in the most recent model of its heart defibrillator. Read more..

By BARNABY J. FEDER - The New York Times

P.&G., the Pioneer of Mixing Soap and Drama, Adds a Web Installment

The consumer products giant has created “Crescent Heights,” a new online soap opera that aims to reach young viewers where they watch most — their PCs and cellphones. Read more..

By BOB TEDESCHI - The New York Times

Tax Campaign by Toronto Brings a Bill From the Mint

After the Royal Canadian Mint told Toronto officials they needed permission to use the penny’s image, it billed the city 20,000 Canadian dollars. So far, Toronto has refused to pay. Read more..

By IAN AUSTEN - The New York Times

Tuesday Is Layoff Day at AOL

When employees walk into AOL offices Tuesday morning, 1,200 of them will be quickly pulled aside by their managers. Read more..

By SAUL HANSELL - The New York Times

Stock Markets

Values are reported in US Dollars

StockTicker symbolOpenHighLowCloseVolume
General ElectricGE40.9040.9440.4140.8239.8M
Cisco SystemsCSCO32.9233.1432.5132.7934.7M
Oracle Corp.ORCL22.4422.5821.8222.0734.2M
AT&T Inc.T42.0142.7042.0142.1918.8M
JPMorgan ChaseJPM46.7746.8245.7946.2716.6M
Wal-Mart StoresWMT47.0147.0746.2646.4516.4M
Abbott LaboratoriesABT52.7152.7751.3651.9216.2M
Wells Fargo & Co.WFC35.9736.2335.5835.9515M
Home DepotHD33.4533.6532.8233.0114.9M
Verizon CommunicationsVZ45.4945.7544.2544.6314.7M
Johnson & JohnsonJNJ65.9566.1665.4165.659.2M
Procter & GamblePG71.6571.9070.6771.008.23M
UnitedHealth GroupUNH49.7549.7548.7548.938.02M
Bristol-Myers SquibbBMY29.8129.8829.5329.737.79M
Gilead SciencesGILD43.5643.9041.7742.017.49M
HP Inc.HPQ51.5551.9050.8151.247.42M
Walt Disney & Co.DIS35.3735.4934.8635.146.69M
International Business MachinesIBM117.95118.37116.75118.036.27M
United TechnologiesUTX81.1781.1779.2779.873.24M
Union PacificUNP119.22119.82116.62118.161.92M
Berkshire HathawayBRK.B4250.004257.004188.004208.0020.2K
Exchange Rates of October 15th, 2007
CurrenciesExchange Rates
US DollarJapanese Yen1 USD = 117.420 JPY1 JPY = 0.009 USD
US DollarCanadian Dollar1 USD = 0.976 CAD1 CAD = 1.025 USD
US DollarSwiss Franc1 USD = 1.180 CHF1 CHF = 0.848 USD
US DollarChinese Yuan1 USD = 7.528 CNY1 CNY = 0.133 USD
EuroJapanese Yen1 EUR = 166.890 JPY1 JPY = 0.006 EUR
EuroPound Sterling1 EUR = 0.696 GBP1 GBP = 1.438 EUR
EuroAustralian Dollar1 EUR = 1.578 AUD1 AUD = 0.634 EUR
EuroCanadian Dollar1 EUR = 1.387 CAD1 CAD = 0.721 EUR
EuroSwiss Franc1 EUR = 1.677 CHF1 CHF = 0.596 EUR
Japanese YenPound Sterling1 JPY = 0.417 GBP1 GBP = 2.400 JPY
Japanese YenAustralian Dollar1 JPY = 0.945 AUD1 AUD = 1.058 JPY
Japanese YenCanadian Dollar1 JPY = 0.831 CAD1 CAD = 1.204 JPY
Japanese YenSwiss Franc1 JPY = 1.005 CHF1 CHF = 0.995 JPY
Pound SterlingAustralian Dollar1 GBP = 2.268 AUD1 AUD = 0.441 GBP
Pound SterlingCanadian Dollar1 GBP = 1.994 CAD1 CAD = 0.502 GBP
Pound SterlingSwiss Franc1 GBP = 2.410 CHF1 CHF = 0.415 GBP
Australian DollarCanadian Dollar1 AUD = 0.878 CAD1 CAD = 1.138 AUD
Australian DollarSwiss Franc1 AUD = 1.062 CHF1 CHF = 0.942 AUD
Canadian DollarSwiss Franc1 CAD = 1.209 CHF1 CHF = 0.827 CAD

See what else happened on October 15th, 2007