Financial news on June 18th, 2008

Business and Financial news
At Social Site, Only the Businesslike Need Apply

In the midst of Silicon Valley’s recession-proof enthusiasm for community-oriented Web sites, LinkedIn, the most boring of the social networks, is grabbing the spotlight. Read more..

By BRAD STONE - The New York Times

Big Banks Sued Over Sewer Bonds

A man in Jefferson County, Ala., has sued 12 banks, advisers and insurers, claiming their work on county bond transactions saddled residents with soaring sewer bills. Read more..

By BLOOMBERG NEWS - The New York Times

Bill Promotes Universal College Loans

After reports that some lenders have stopped offering federal loans at community colleges, two senators introduced legislation to forbid lenders from picking and choosing among institutions. Read more..

By JONATHAN D. GLATER - The New York Times

Budget Hotels for the Garment District

A handful of developers is transforming an erstwhile manufacturing area into a magnet for budget-minded travelers. Read more..

By J. ALEX TARQUINIO - The New York Times

Crude? So What? These Characters Still Find Work in Ads

Big brands have been borrowing for their marketing efforts characters from “Family Guy,” which has been criticized for everything from anti-Semitism and sexism to homophobia. Read more..

By STUART ELLIOTT - The New York Times

Ford Says Kerkorian’s Investment Is a Sign of Confidence

After waging bitter battles with management at Chrysler and General Motors, the financier Kirk Kerkorian is off to a more peaceful start as a major shareholder in the Ford Motor Company. Read more..

By BILL VLASIC - The New York Times

Paulson Sees Progress in U.S.-China Ties

Despite tension over trade, investment and food and product safety, bilateral ties are “growing in a positive direction,” the Treasury secretary said, opening two days of economic talks. Read more..

By STEVEN R. WEISMAN - The New York Times

Three Questions for McCain

There are some unanswered questions about John McCain’s economic plans. And we in the media have largely overlooked those questions so far. Read more..

By DAVID LEONHARDT - The New York Times

U.S. Will Lag in Tech Growth, Study Says

While marketers and advertisers have much to cheer in the coming digital revolution, the fastest growth will be in emerging markets, with the United States lagging behind. Read more..

By LAURA M. HOLSON - The New York Times

With a Modest Decline in Profit, Goldman Sachs Outshines Rivals Again

Goldman, the investment bank that has suffered the least from the tight credit market, reported quarterly earnings of $2.051 billion on Tuesday, topping Wall Street expectations. Read more..

By LOUISE STORY - The New York Times

Stock Markets

Values are reported in US Dollars

StockTicker symbolOpenHighLowCloseVolume
General ElectricGE28.7028.7728.1628.2188M
Cisco SystemsCSCO25.8025.8925.2325.2849.9M
Wells Fargo & Co.WFC25.0025.8524.7725.4342.2M
JPMorgan ChaseJPM38.5539.2537.9338.7435.5M
AT&T Inc.T35.5335.6135.1735.2523.9M
Oracle Corp.ORCL22.3322.6822.2222.4423.1M
Wal-Mart StoresWMT58.2059.4157.5957.6722.2M
UnitedHealth GroupUNH29.9730.4029.8930.2218.3M
HP Inc.HPQ46.8247.0546.0646.5915.7M
Home DepotHD26.6626.8726.3226.5514M
Verizon CommunicationsVZ35.7236.0735.2735.9813.7M
Union PacificUNP72.1476.4771.9075.8213.3M
Johnson & JohnsonJNJ65.2865.9764.2064.4412.8M
Walt Disney & Co.DIS32.9733.3532.7732.9512.1M
Bristol-Myers SquibbBMY19.9420.2519.7119.7811.6M
Procter & GamblePG65.5965.9564.9265.0011.5M
Abbott LaboratoriesABT53.3453.8653.0053.1110.5M
International Business MachinesIBM124.55125.43123.70124.166.61M
Gilead SciencesGILD53.1454.3152.9253.455.73M
United TechnologiesUTX67.8568.6967.8568.075.02M
Berkshire HathawayBRK.B4204.004207.004105.004199.0027.7K
Exchange Rates of June 18th, 2008
CurrenciesExchange Rates
US DollarJapanese Yen1 USD = 107.850 JPY1 JPY = 0.009 USD
US DollarCanadian Dollar1 USD = 1.017 CAD1 CAD = 0.983 USD
US DollarSwiss Franc1 USD = 1.037 CHF1 CHF = 0.965 USD
US DollarChinese Yuan1 USD = 6.882 CNY1 CNY = 0.145 USD
EuroJapanese Yen1 EUR = 167.410 JPY1 JPY = 0.006 EUR
EuroPound Sterling1 EUR = 0.792 GBP1 GBP = 1.262 EUR
EuroAustralian Dollar1 EUR = 1.640 AUD1 AUD = 0.610 EUR
EuroCanadian Dollar1 EUR = 1.579 CAD1 CAD = 0.633 EUR
EuroSwiss Franc1 EUR = 1.610 CHF1 CHF = 0.621 EUR
Japanese YenPound Sterling1 JPY = 0.473 GBP1 GBP = 2.114 JPY
Japanese YenAustralian Dollar1 JPY = 0.979 AUD1 AUD = 1.022 JPY
Japanese YenCanadian Dollar1 JPY = 0.943 CAD1 CAD = 1.061 JPY
Japanese YenSwiss Franc1 JPY = 0.961 CHF1 CHF = 1.040 JPY
Pound SterlingAustralian Dollar1 GBP = 2.070 AUD1 AUD = 0.483 GBP
Pound SterlingCanadian Dollar1 GBP = 1.993 CAD1 CAD = 0.502 GBP
Pound SterlingSwiss Franc1 GBP = 2.031 CHF1 CHF = 0.492 GBP
Australian DollarCanadian Dollar1 AUD = 0.962 CAD1 CAD = 1.039 AUD
Australian DollarSwiss Franc1 AUD = 0.981 CHF1 CHF = 1.020 AUD
Canadian DollarSwiss Franc1 CAD = 1.019 CHF1 CHF = 0.981 CAD

See what else happened on June 18th, 2008