Financial news on July 16th, 2008

Business and Financial news
Bernanke Is Pessimistic, but Bush Urges a ‘Deep Breath’

The Fed chief warned of the risks of a long slowdown and higher inflation as the president, speaking nearby, said the country’s economic pillars remained sound. Read more..

By STEVEN R. WEISMAN - The New York Times

Brakes and Other Headaches at an Aircraft Show

Problems linked to the braking system of Boeing’s much-delayed 787 Dreamliner conspired with a dearth of new orders from Western airlines to darken the mood at the aerospace industry’s showcase event. Read more..

By CAROLINE BROTHERS - The New York Times

Britain: Burberry’s First-Quarter Sales Rose 22%

The Burberry Group, a luxury goods retailer, said first-quarter sales rose 22 percent on shipments of autumn and winter goods to wholesale distributors in emerging markets. Read more..

By BLOOMBERG NEWS - The New York Times

Countrywide Settles Lending Suit in Pennsylvania

Countrywide Home Loans has agreed to pay $325,000 to settle a case that accused the lender of abusive practices in almost 300 mortgage loans overseen by the court. Read more..

By GRETCHEN MORGENSON - The New York Times

Google and Yahoo Defend Ad Alliance at a Hearing

At a Congressional hearing, Google and Yahoo lawyers argued that their advertising partnership did not violate antitrust laws and would help to keep Yahoo competitive. Read more..

By AUSTIN BOGUES - The New York Times

Sprint Said to Talk About Partnership

Sprint Nextel is in early talks to form a partnership with SK Telecom of South Korea to share information about new mobile phones and other technology. Read more..

By LAURA M. HOLSON and MICHAEL J. de la MERCED - The New York Times

With Warning, G.M. Takes Wide Cost Cuts

G.M. said that it would reduce labor costs for salaried workers by 20 percent and further cut truck production. Read more..

By BILL VLASIC - The New York Times

Stock Markets

Values are reported in US Dollars

StockTicker symbolOpenHighLowCloseVolume
Wells Fargo & Co.WFC23,7827,3223,2027,23206M
IntelINTC21,0321,1520,2320,9187.3M
General ElectricGE26,8027,8326,4227,6882.9M
MicrosoftMSFT26,0727,2925,9227,2682.1M
JPMorgan ChaseJPM32,3035,9431,5035,9480M
Cisco SystemsCSCO20,7221,3320,5621,1063.7M
PfizerPFE17,6018,2917,4118,2656M
ExxonMobilXOM81,8981,9979,4180,8140.4M
Oracle Corp.ORCL20,3220,5520,0920,4437.6M
AT&T Inc.T32,1232,4531,5831,9231.1M
ConocoPhillipsCOP84,7584,9382,5883,1930.5M
AppleAAPL170,08172,93168,60172,8126.7M
Wal-Mart StoresWMT56,2057,1155,6456,9626.4M
Abbott LaboratoriesABT58,3058,5056,6056,9725.4M
VisaV68,3372,5666,5172,2323.1M
Bristol-Myers SquibbBMY21,7022,5721,5122,3821.9M
ComcastCMCSA18,3119,0618,2119,0321.4M
ChevronCVX89,3489,6086,0786,3920.2M
Home DepotHD21,5322,7321,2122,6819.6M
Procter & GamblePG63,7364,1663,3863,8919.5M
UnitedHealth GroupUNH22,4022,6621,9722,5319.2M
Johnson & JohnsonJNJ67,7768,8167,5068,1918.9M
HP Inc.HPQ41,3142,4541,0042,3418.8M
MerckMRK36,3637,0036,2036,6318.7M
Walt Disney & Co.DIS29,5030,6029,0530,4318.3M
Verizon CommunicationsVZ35,0235,4334,4835,3813.6M
Coca-ColaKO51,8852,6051,2552,3413.6M
SchlumbergerSLB96,9597,9993,1495,8613.3M
AltriaMO20,7021,0220,5220,8412.4M
AmazonAMZN66,9472,7566,8471,8412M
AmgenAMGN52,1953,2452,0752,4311.8M
Gilead SciencesGILD55,1855,8854,6654,8110.2M
McDonald'sMCD58,5260,3458,2060,1610.2M
International Business MachinesIBM122,81126,89122,25125,949.9M
AlphabetGOOGL514,04536,50510,60535,609.47M
United TechnologiesUTX60,1661,2558,9661,118.58M
Union PacificUNP69,8573,4869,8573,455.93M
PepsicoPEP65,7766,1365,0566,095.71M
BoeingBA63,9165,6863,5065,585.64M
3MMMM67,9068,6767,2868,644.64M
Berkshire HathawayBRK.B3788,003849,003750,003790,0035.8K
Exchange Rates of July 16th, 2008
CurrenciesExchange Rates
US DollarJapanese Yen1 USD = 105,090 JPY1 JPY = 0,010 USD
US DollarCanadian Dollar1 USD = 1,001 CAD1 CAD = 0,999 USD
US DollarSwiss Franc1 USD = 1,018 CHF1 CHF = 0,983 USD
US DollarChinese Yuan1 USD = 6,811 CNY1 CNY = 0,147 USD
EuroJapanese Yen1 EUR = 166,240 JPY1 JPY = 0,006 EUR
EuroPound Sterling1 EUR = 0,792 GBP1 GBP = 1,263 EUR
EuroAustralian Dollar1 EUR = 1,624 AUD1 AUD = 0,616 EUR
EuroCanadian Dollar1 EUR = 1,584 CAD1 CAD = 0,632 EUR
EuroSwiss Franc1 EUR = 1,610 CHF1 CHF = 0,621 EUR
Japanese YenPound Sterling1 JPY = 0,476 GBP1 GBP = 2,101 JPY
Japanese YenAustralian Dollar1 JPY = 0,976 AUD1 AUD = 1,024 JPY
Japanese YenCanadian Dollar1 JPY = 0,952 CAD1 CAD = 1,050 JPY
Japanese YenSwiss Franc1 JPY = 0,968 CHF1 CHF = 1,033 JPY
Pound SterlingAustralian Dollar1 GBP = 2,051 AUD1 AUD = 0,488 GBP
Pound SterlingCanadian Dollar1 GBP = 2,000 CAD1 CAD = 0,500 GBP
Pound SterlingSwiss Franc1 GBP = 2,033 CHF1 CHF = 0,492 GBP
Australian DollarCanadian Dollar1 AUD = 0,975 CAD1 CAD = 1,026 AUD
Australian DollarSwiss Franc1 AUD = 0,991 CHF1 CHF = 1,009 AUD
Canadian DollarSwiss Franc1 CAD = 1,016 CHF1 CHF = 0,984 CAD

See what else happened on July 16th, 2008