Financial news on October 17, 2008

Business and Financial news
A.I.G. Agrees to Let New York Review the Propriety of Its Pay Packages

A day after New York’s attorney general criticized bonuses and other payments made by A.I.G., the insurance giant agreed to allow its spending habits to be reviewed. Read more..

By JONATHAN D. GLATER - The New York Times

Asian Stocks Drop Dramatically

Volatility and risk aversion in global stock markets continued in Asia, where sharp falls in the Nikkei 225 and other indexes all but wiped out an extraordinary rally. Read more..

By BETTINA WASSENER - The New York Times

Banks Are Likely to Hold Tight to Bailout Money

As Citigroup and Merrill Lynch reported multibillion-dollar losses, some wondered what the nation’s lenders would do with the Treasury Department’s capital infusion. Read more..

By LOUISE STORY and ERIC DASH - The New York Times

Canada and Europe Ponder Trade Pact

Preliminary negotiations could lead to a trade pact between Canada and Europe that would be even more sweeping than the North American Free Trade Agreement. Read more..

By IAN AUSTEN - The New York Times

Consumer Prices Show Little Change in September

The economy may be sputtering, but the threat of stagflation — a concern among some economists just weeks ago — appears to have receded somewhat. Read more..

By MICHAEL M. GRYNBAUM - The New York Times

In Downturn, Families Strain to Pay Tuition

With the unemployment rate rising and a recession mentality gripping the country, more families are applying for federal aid for students attending college. Read more..

By JONATHAN D. GLATER - The New York Times

Merrill Reports Its Fifth Quarterly Loss

Merrill Lynch, the investment bank that sold itself to Bank of America last month, reported a third-quarter loss on Thursday of $5.1 billion, or $5.56 a share. Read more..

By LOUISE STORY - The New York Times

Oil Prices Slip Below $70 a Barrel

Oil prices dropped below $70 a barrel for the first time in 16 months Thursday, prompting the OPEC cartel to call for an emergency meeting next week. Read more..

By JAD MOUAWAD - The New York Times

Southwest Has First Loss in 17 Years

Southwest Airlines said it had lost $120 million, its first quarterly loss in more than 17 years, because of a charge to write down the declining value of its hedging contracts for fuel. Read more..

By MICHELINE MAYNARD - The New York Times

Welcome to Wordplay

Wordplay is a party for people who love puzzles and adore words. Read more..

By JIM HORNE - The New York Times

Stock Markets

Values are reported in US Dollars

Stock Ticker symbol Open High Low Close Volume
Microsoft MSFT 23.57 25.11 23.31 23.93 134M
General Electric GE 19.35 20.53 19.00 19.63 125M
Intel INTC 15.36 16.31 15.27 15.50 93.9M
Cisco Systems CSCO 17.32 19.55 16.93 17.91 83.5M
Pfizer PFE 16.43 17.53 16.24 16.91 70.2M
Wells Fargo & Co. WFC 33.40 34.44 31.77 32.06 67M
Apple AAPL 99.60 102.04 85.89 97.40 62.9M
JPMorgan Chase JPM 39.63 41.39 39.06 39.33 61M
ExxonMobil XOM 67.05 72.44 65.60 68.04 58.4M
Oracle Corp. ORCL 16.41 17.99 16.21 17.02 52.3M
Schlumberger SLB 50.60 52.90 45.22 49.99 45.6M
AT&T Inc. T 24.90 26.75 24.50 25.29 42.5M
Comcast CMCSA 14.95 17.88 14.59 15.23 36.6M
Wal-Mart Stores WMT 53.75 55.38 49.71 53.77 31.2M
Bristol-Myers Squibb BMY 17.29 18.36 16.95 17.54 30.3M
Abbott Laboratories ABT 54.52 58.24 52.74 55.46 30M
Alphabet GOOGL 378.96 386.00 363.55 372.54 28.5M
Altria MO 18.79 20.24 18.58 19.32 28.1M
ConocoPhillips COP 50.75 56.46 48.84 52.51 27.1M
Home Depot HD 19.18 20.70 18.96 20.21 26.6M
Johnson & Johnson JNJ 62.95 65.00 62.04 62.65 25.3M
Merck MRK 27.54 30.20 27.33 28.50 23M
Verizon Communications VZ 26.75 28.44 26.18 27.19 22.4M
HP Inc. HPQ 39.45 41.30 38.22 39.71 22M
Chevron CVX 61.55 67.41 59.49 62.35 21.7M
Coca-Cola KO 44.96 46.17 42.91 44.20 21M
Gilead Sciences GILD 42.50 45.64 42.10 43.03 20.5M
Procter & Gamble PG 60.65 63.79 59.83 61.74 19.6M
Walt Disney & Co. DIS 23.69 25.85 23.44 24.75 18M
UnitedHealth Group UNH 22.99 24.72 22.56 24.39 17.6M
International Business Machines IBM 91.75 95.91 87.71 90.78 15.2M
Pepsico PEP 51.87 55.48 51.75 53.88 14.2M
Amgen AMGN 49.10 53.87 49.00 50.19 13.6M
Amazon AMZN 48.83 62.33 48.41 50.65 12.9M
McDonald's MCD 53.50 56.13 52.60 53.80 11.6M
United Technologies UTX 52.73 53.51 50.34 50.71 11.4M
Boeing BA 43.95 46.82 43.21 44.55 10M
Visa V 51.50 55.07 51.50 52.22 8.77M
Union Pacific UNP 53.80 59.17 53.24 55.49 8.1M
3M MMM 56.16 59.00 55.26 56.49 7.29M
Berkshire Hathaway BRK.B 3730.00 4023.00 3701.00 3976.00 37.8K
Exchange Rates of October 17, 2008
CurrenciesExchange Rates
US Dollar Japanese Yen 1 USD = 101.650 JPY 1 JPY = 0.010 USD
US Dollar Canadian Dollar 1 USD = 1.180 CAD 1 CAD = 0.848 USD
US Dollar Swiss Franc 1 USD = 1.137 CHF 1 CHF = 0.880 USD
US Dollar Chinese Yuan 1 USD = 6.835 CNY 1 CNY = 0.146 USD
Euro Japanese Yen 1 EUR = 136.310 JPY 1 JPY = 0.007 EUR
Euro Pound Sterling 1 EUR = 0.776 GBP 1 GBP = 1.289 EUR
Euro Australian Dollar 1 EUR = 1.942 AUD 1 AUD = 0.515 EUR
Euro Canadian Dollar 1 EUR = 1.585 CAD 1 CAD = 0.631 EUR
Euro Swiss Franc 1 EUR = 1.524 CHF 1 CHF = 0.656 EUR
Euro Chinese Yuan 1 EUR = 9.164 CNY 1 CNY = 0.109 EUR
Japanese Yen Pound Sterling 1 JPY = 0.569 GBP 1 GBP = 1.757 JPY
Japanese Yen Australian Dollar 1 JPY = 1.427 AUD 1 AUD = 0.701 JPY
Japanese Yen Canadian Dollar 1 JPY = 1.163 CAD 1 CAD = 0.860 JPY
Japanese Yen Swiss Franc 1 JPY = 1.118 CHF 1 CHF = 0.894 JPY
Pound Sterling Australian Dollar 1 GBP = 2.504 AUD 1 AUD = 0.399 GBP
Pound Sterling Canadian Dollar 1 GBP = 2.040 CAD 1 CAD = 0.490 GBP
Pound Sterling Swiss Franc 1 GBP = 1.966 CHF 1 CHF = 0.509 GBP
Pound Sterling Chinese Yuan 1 GBP = 11.805 CNY 1 CNY = 0.085 GBP
Australian Dollar Canadian Dollar 1 AUD = 0.814 CAD 1 CAD = 1.229 AUD
Australian Dollar Swiss Franc 1 AUD = 0.784 CHF 1 CHF = 1.275 AUD
Australian Dollar Chinese Yuan 1 AUD = 4.719 CNY 1 CNY = 0.212 AUD
Canadian Dollar Swiss Franc 1 CAD = 0.963 CHF 1 CHF = 1.039 CAD
Canadian Dollar Chinese Yuan 1 CAD = 5.791 CNY 1 CNY = 0.173 CAD
Swiss Franc Chinese Yuan 1 CHF = 6.010 CNY 1 CNY = 0.166 CHF

See what else happened on October 17, 2008