Financial news on April 16, 2008

Business and Financial news
A New Chief, but eBay’s Struggles Continue

The company, which has been refocusing its business, reported net income in its first quarter rose 22 percent to $562 million, or 42 cents a share, from the year-ago quarter. Read more..

By BRAD STONE - The New York Times

Canada Likely to Label Plastic Ingredient ‘Toxic’

The Canadian government is said to be ready to declare as toxic the compound bisphenol-a, a chemical widely used in plastics for baby bottles, beverage and food containers. Read more..

By IAN AUSTEN - The New York Times

For Microsoft, Holding Yahoo Talent May Be Costly

A look at that deal suggests that the hidden cost of “flight insurance” against employee defections may also be a reason Microsoft has resisted raising its bid. Read more..

By STEVE LOHR - The New York Times

I.B.M. Easily Tops Forecasts for Quarter

I.B.M. reported strong quarterly profit, as its global reach and its healthy services and software businesses left the company unscathed so far by the weakness of the United States economy. Read more..

By STEVE LOHR - The New York Times

Japan Bars Investment by British Hedge Fund

In a closely-watched case, the trade ministry rejected a bid by the Children’s Investment Fund to increase its holdings in Electric Power Development, an electricity wholesale company. Read more..

By MARTIN FACKLER - The New York Times

Larger Prey Are Targets of Phishing

An e-mail scam aimed at the nation’s top executives is raising new alarms about the ease with which people and companies can be deceived by online criminals. Read more..

By JOHN MARKOFF - The New York Times

Linens ’n Things Puts Off $16 Million Interest Payment

Linens ’n Things said it would defer paying about $16.1 million in interest payments due Tuesday as it worked to stave off a bankruptcy filing. Read more..

By THE NEW YORK TIMES - The New York Times

New Ballpark in Washington Anchors an Area’s Revival

Many say the $611 million publicly financed stadium for the Washington Nationals has accelerated a striking change in a long-languishing area. Read more..

By EUGENE L. MEYER - The New York Times

Relief Possible for Tenants Caught in Landlord’s Default

Help may be in sight for apartment dwellers in Texas who have been living in deteriorating conditions since their landlord defaulted on hundreds of millions of dollars’ worth of mortgages. Read more..

By TERRY PRISTIN - The New York Times

Wall Street Winners Get Billion-Dollar Paydays

Hedge fund managers are making money on a scale that once seemed unimaginable, even on Wall Street. Read more..

By JENNY ANDERSON - The New York Times

Stock Markets

Values are reported in US Dollars

StockTicker symbolOpenHighLowCloseVolume
General ElectricGE32.3432.3532.0232.2379.5M
Wells Fargo & Co.WFC29.9730.3428.4929.0169.8M
JPMorgan ChaseJPM43.7944.9643.1044.9652.6M
Cisco SystemsCSCO23.4624.0023.3323.8351.2M
Oracle Corp.ORCL20.3020.9420.2920.7747.1M
Wal-Mart StoresWMT56.4257.1256.3557.0728.1M
Abbott LaboratoriesABT52.3252.8251.0651.3527.6M
AT&T Inc.T37.4137.8937.1037.6125.8M
Procter & GamblePG69.9070.6868.9769.2719.5M
International Business MachinesIBM118.21120.47117.17120.4719.3M
Bristol-Myers SquibbBMY21.6022.0221.5421.9814.6M
Verizon CommunicationsVZ35.4335.9835.2835.8514M
HP Inc.HPQ46.4647.2446.3447.1012.9M
Johnson & JohnsonJNJ65.7965.9165.1365.7012.6M
Home DepotHD28.0528.2227.6528.0212.1M
UnitedHealth GroupUNH37.0437.2735.7635.8011.7M
Walt Disney & Co.DIS30.0130.3829.8230.3210.6M
Gilead SciencesGILD51.3752.1551.0051.807.88M
United TechnologiesUTX71.5073.2371.1572.636.43M
Union PacificUNP132.21137.03132.21136.575.63M
Berkshire HathawayBRK.B4300.004320.004291.004320.0018.1K
Exchange Rates of April 16, 2008
CurrenciesExchange Rates
US DollarJapanese Yen1 USD = 101.780 JPY1 JPY = 0.010 USD
US DollarCanadian Dollar1 USD = 1.001 CAD1 CAD = 1.000 USD
US DollarSwiss Franc1 USD = 1.000 CHF1 CHF = 1.000 USD
US DollarChinese Yuan1 USD = 6.992 CNY1 CNY = 0.143 USD
EuroJapanese Yen1 EUR = 162.270 JPY1 JPY = 0.006 EUR
EuroPound Sterling1 EUR = 0.808 GBP1 GBP = 1.238 EUR
EuroAustralian Dollar1 EUR = 1.697 AUD1 AUD = 0.589 EUR
EuroCanadian Dollar1 EUR = 1.595 CAD1 CAD = 0.627 EUR
EuroSwiss Franc1 EUR = 1.594 CHF1 CHF = 0.627 EUR
Japanese YenPound Sterling1 JPY = 0.498 GBP1 GBP = 2.009 JPY
Japanese YenAustralian Dollar1 JPY = 1.045 AUD1 AUD = 0.957 JPY
Japanese YenCanadian Dollar1 JPY = 0.983 CAD1 CAD = 1.018 JPY
Japanese YenSwiss Franc1 JPY = 0.982 CHF1 CHF = 1.018 JPY
Pound SterlingAustralian Dollar1 GBP = 2.100 AUD1 AUD = 0.476 GBP
Pound SterlingCanadian Dollar1 GBP = 1.974 CAD1 CAD = 0.507 GBP
Pound SterlingSwiss Franc1 GBP = 1.973 CHF1 CHF = 0.507 GBP
Australian DollarCanadian Dollar1 AUD = 0.939 CAD1 CAD = 1.065 AUD
Australian DollarSwiss Franc1 AUD = 0.939 CHF1 CHF = 1.065 AUD
Canadian DollarSwiss Franc1 CAD = 0.999 CHF1 CHF = 1.001 CAD

See what else happened on April 16, 2008