Financial news on February 17th, 2009

Business and Financial news
Automakers Seek $14 Billion More, Vowing Deep Cuts

General Motors and Chrysler promised to make further cuts, in hopes of lightening their bloated cost structures amid a dismal market for new car sales. Read more..

By BILL VLASIC and NICK BUNKLEY - The New York Times

Biotech Companies Claim Easing of Europe’s Crop Bans

The biotechnology industry, claiming the backing of European Union governments, signaled a new effort to win greater leeway to grow genetically modified crops in Europe. Read more..

By JAMES KANTER - The New York Times

Crude Oil Prices Fall Below $37 a Barrel

Crude oil traded near $37 a barrel in New York on speculation a deepening recession in Europe and Asia will stifle demand for energy and fuel. Read more..

By BLOOMBERG NEWS - The New York Times

Heinz Ketchup Waves Goodbye to the Gherkin

Heinz is making its first major change in the ketchup label since the 1940s by replacing the pickle with a tomato above a new phrase, “Grown not made.” Read more..

By STUART ELLIOTT - The New York Times

If You’re Nervous, Deodorant Makers Have a Product for You

As the recession has everyone else sweating bullets, deodorant brands are experiencing a sales bump thanks to stronger “clinical” formulations. Read more..

By ANDREW ADAM NEWMAN - The New York Times

Keeping the Cash Flowing

Some analysts offer tips to monitor the revenue coming in and ensure that it outweighs the expenses going out. Read more..

By PAUL B. BROWN - The New York Times

Maker of Iconic British Car Cuts Production and Jobs

BMW announced Monday that it would eliminate 850 jobs at a plant that makes the “Mini” car in Oxford, England, in response to the slump in demand. Read more..


More LG Phones to Use Microsoft System

The agreement increases the software maker’s bid to gain a bigger share of the mobile software business. Read more..

By KEVIN J. O'BRIEN - The New York Times

People and Accounts of Note

Webdenda. Read more..

By THE NEW YORK TIMES - The New York Times

That Perk in the Sky Has Defenders on Land

Cessna and Hawker Beechcraft are presenting the case that, occasional abuses and wretched excesses aside, corporate jets are crucial tools. Read more..

By JOE SHARKEY - The New York Times

Stock Markets

Values are reported in US Dollars

StockTicker symbolOpenHighLowCloseVolume
General ElectricGE11.2011.2010.7110.81134M
Wells Fargo & Co.WFC14.5915.0613.6913.69122M
JPMorgan ChaseJPM22.8023.2021.6521.6591.4M
Cisco SystemsCSCO15.6815.7615.2815.2948M
Oracle Corp.ORCL17.1517.3416.8116.9641M
Wal-Mart StoresWMT47.4448.8847.3048.2438.9M
AT&T Inc.T23.6223.8522.9923.2238.1M
Home DepotHD20.7020.7519.8619.9435.7M
Walt Disney & Co.DIS18.0718.1117.7217.8422M
Verizon CommunicationsVZ28.8829.2528.0728.2621M
Procter & GamblePG50.0050.9449.2850.1120.8M
HP Inc.HPQ35.0735.2134.3234.3420.8M
Abbott LaboratoriesABT54.5854.7753.3453.9316.3M
Bristol-Myers SquibbBMY21.4521.5421.1421.2516.1M
Johnson & JohnsonJNJ55.9456.7955.7355.9815.2M
UnitedHealth GroupUNH28.1928.8327.2428.4213.4M
United TechnologiesUTX45.9746.7145.1845.6810.9M
International Business MachinesIBM91.7392.4990.5090.678.9M
Gilead SciencesGILD49.4649.5848.5348.728.13M
Union PacificUNP42.5642.5640.2840.817.73M
Berkshire HathawayBRK.B2802.002820.002761.002770.0040.3K
Exchange Rates of February 17th, 2009
CurrenciesExchange Rates
US DollarJapanese Yen1 USD = 92.380 JPY1 JPY = 0.011 USD
US DollarCanadian Dollar1 USD = 1.265 CAD1 CAD = 0.791 USD
US DollarSwiss Franc1 USD = 1.169 CHF1 CHF = 0.855 USD
US DollarChinese Yuan1 USD = 6.836 CNY1 CNY = 0.146 USD
EuroJapanese Yen1 EUR = 116.230 JPY1 JPY = 0.009 EUR
EuroPound Sterling1 EUR = 0.884 GBP1 GBP = 1.132 EUR
EuroAustralian Dollar1 EUR = 1.980 AUD1 AUD = 0.505 EUR
EuroCanadian Dollar1 EUR = 1.591 CAD1 CAD = 0.629 EUR
EuroSwiss Franc1 EUR = 1.471 CHF1 CHF = 0.680 EUR
EuroChinese Yuan1 EUR = 8.605 CNY1 CNY = 0.116 EUR
Japanese YenPound Sterling1 JPY = 0.760 GBP1 GBP = 1.316 JPY
Japanese YenAustralian Dollar1 JPY = 1.704 AUD1 AUD = 0.587 JPY
Japanese YenCanadian Dollar1 JPY = 1.369 CAD1 CAD = 0.731 JPY
Japanese YenSwiss Franc1 JPY = 1.265 CHF1 CHF = 0.790 JPY
Pound SterlingAustralian Dollar1 GBP = 2.240 AUD1 AUD = 0.446 GBP
Pound SterlingCanadian Dollar1 GBP = 1.801 CAD1 CAD = 0.555 GBP
Pound SterlingSwiss Franc1 GBP = 1.665 CHF1 CHF = 0.601 GBP
Pound SterlingChinese Yuan1 GBP = 9.722 CNY1 CNY = 0.103 GBP
Australian DollarCanadian Dollar1 AUD = 0.803 CAD1 CAD = 1.245 AUD
Australian DollarSwiss Franc1 AUD = 0.742 CHF1 CHF = 1.348 AUD
Australian DollarChinese Yuan1 AUD = 4.342 CNY1 CNY = 0.230 AUD
Canadian DollarSwiss Franc1 CAD = 0.924 CHF1 CHF = 1.083 CAD
Canadian DollarChinese Yuan1 CAD = 5.405 CNY1 CNY = 0.185 CAD
Swiss FrancChinese Yuan1 CHF = 5.844 CNY1 CNY = 0.171 CHF

See what else happened on February 17th, 2009