Financial news on April 18th, 2008

Business and Financial news
Bottle Maker to Stop Using Plastic Linked to Health Concerns

Nalgene, the brand that popularized water bottles made from clear and nearly unbreakable polycarbonate, will stop using the plastic because of concern over one of its ingredients. Read more..

By IAN AUSTEN - The New York Times

Britain Said to Consider Shoring Up Debt Market

The Bank of England and the British government are considering actions that would mirror steps taken by the United States Fed to restore liquidity to the money markets. Read more..

By JULIA WERDIGIER - The New York Times

Citigroup Records a Loss and Plans 9,000 Layoffs

The results contained few surprises, and investors responded to the bank’s $5.1 billion loss by pushing markets sharply higher. Read more..

By ERIC DASH - The New York Times

Inquiries Into Auction-Rate Securities Widen

The attorney general of New York, Andrew M. Cuomo, has subpoenaed 18 banks that underwrote and brokered the investments. Read more..

By VIKAS BAJAJ - The New York Times

JPMorgan Joins Rivals in Raising Extra Cash

Hours after reporting its worst results in years on Wednesday, JPMorgan Chase quietly disclosed plans to raise $6 billion in expensive debt. Read more..

By ERIC DASH - The New York Times

Linens ’n Things Is Shopping for a Buyer

Linens ’n Things, the troubled housewares and bedding chain, has hired Financo, an investment bank specializing in retail companies. Read more..


Longtime Executive Steps Aside at Sony BMG

In a shake-up that reflects the end of an era, Sony BMG Music said Thursday that the longtime industry executive Clive Davis would relinquish daily control of his label, the RCA Music Group. Read more..

By JEFF LEEDS and ROBERT LEVINE - The New York Times

Take-Two’s Managers Get a Raise

The managers’ raises were part of a compensation package that would grow considerably should the video game company be acquired by Electronic Arts. Read more..

By MATT RICHTEL - The New York Times

Times Co. Records Small Loss for Quarter

The New York Times Company reported a $335,000 first-quarter loss on Thursday. Read more..

By RICHARD PÉREZ-PEÑA - The New York Times

Workers Get Fewer Hours, Deepening the Downturn

The shrinking of hours and pay for millions of workers appears to be a bigger contributor to the economic decline than the loss of jobs. Read more..

By PETER S. GOODMAN - The New York Times

Stock Markets

Values are reported in US Dollars

StockTicker symbolOpenHighLowCloseVolume
General ElectricGE32.4132.9732.2732.6972M
Cisco SystemsCSCO24.5024.8024.2124.5155.2M
Oracle Corp.ORCL21.5021.9321.2321.8047.2M
Wells Fargo & Co.WFC30.6331.0430.2530.4037.9M
JPMorgan ChaseJPM46.3946.8645.4245.7631.4M
Abbott LaboratoriesABT51.2951.5250.4950.7228.2M
AT&T Inc.T37.8838.1037.4437.5125.4M
Wal-Mart StoresWMT56.9957.3656.1456.3119.7M
Procter & GamblePG67.9468.0066.8667.1718.3M
HP Inc.HPQ47.8248.5047.7348.1816.7M
Verizon CommunicationsVZ36.3836.7935.8936.0314.3M
Home DepotHD28.2128.8828.2128.6812.7M
International Business MachinesIBM123.85125.00123.15124.4012.5M
Walt Disney & Co.DIS30.8531.5530.8531.3311.5M
Johnson & JohnsonJNJ66.5066.8065.9466.5110.7M
Gilead SciencesGILD51.0051.9050.1051.7610.2M
Bristol-Myers SquibbBMY21.8122.1321.7122.109.98M
UnitedHealth GroupUNH36.8437.4436.0537.259.06M
United TechnologiesUTX72.1372.6171.1972.517.03M
Union PacificUNP136.81138.82136.81138.083.47M
Berkshire HathawayBRK.B4305.004305.004278.004288.0022.3K
Exchange Rates of April 18th, 2008
CurrenciesExchange Rates
US DollarJapanese Yen1 USD = 103.670 JPY1 JPY = 0.010 USD
US DollarCanadian Dollar1 USD = 1.004 CAD1 CAD = 0.996 USD
US DollarSwiss Franc1 USD = 1.018 CHF1 CHF = 0.983 USD
US DollarChinese Yuan1 USD = 6.994 CNY1 CNY = 0.143 USD
EuroJapanese Yen1 EUR = 163.980 JPY1 JPY = 0.006 EUR
EuroPound Sterling1 EUR = 0.792 GBP1 GBP = 1.263 EUR
EuroAustralian Dollar1 EUR = 1.692 AUD1 AUD = 0.591 EUR
EuroCanadian Dollar1 EUR = 1.588 CAD1 CAD = 0.630 EUR
EuroSwiss Franc1 EUR = 1.610 CHF1 CHF = 0.621 EUR
Japanese YenPound Sterling1 JPY = 0.482 GBP1 GBP = 2.073 JPY
Japanese YenAustralian Dollar1 JPY = 1.031 AUD1 AUD = 0.970 JPY
Japanese YenCanadian Dollar1 JPY = 0.968 CAD1 CAD = 1.033 JPY
Japanese YenSwiss Franc1 JPY = 0.982 CHF1 CHF = 1.019 JPY
Pound SterlingAustralian Dollar1 GBP = 2.138 AUD1 AUD = 0.468 GBP
Pound SterlingCanadian Dollar1 GBP = 2.006 CAD1 CAD = 0.499 GBP
Pound SterlingSwiss Franc1 GBP = 2.033 CHF1 CHF = 0.492 GBP
Australian DollarCanadian Dollar1 AUD = 0.938 CAD1 CAD = 1.066 AUD
Australian DollarSwiss Franc1 AUD = 0.951 CHF1 CHF = 1.052 AUD
Canadian DollarSwiss Franc1 CAD = 1.014 CHF1 CHF = 0.987 CAD

See what else happened on April 18th, 2008