Financial news on September 18, 2007
Business and Financial news
Investors assume that the central bank will reduce the overnight federal funds rate by at least a quarter of a percentage point, to 5 percent. But many market analysts say that will not be enough to restore confidence. Read more..
With the recalls of toys by Mattel and others, the European Union is taking a second look at whether its safety regulations are adequate. Read more..
The sharp increases provide more evidence that the troubles in the housing and mortgage markets may prove long-lived. Read more..
You know how people’s lives are often referred to as journeys? Well, I’ve always thought that comparison was extremely apt. A well-spent life, like an outstanding trip, is made up of unexpected turns, strange encounters and priority-changing exper... Read more..
The company plans to announce the creation of I.B.M. Lotus Symphony, free programs for word processing, spreadsheets and presentations. Read more..
PASSPORT BOTTLENECK EASES The processing time for passport service is back to the normal six to eight weeks, according to the State Department, which has issued more than 16 million passports so far this fiscal year (which ends Sept. 30) compared ... Read more..
Panicky customers of Northern Rock have withdrawn $4 billion since the bank acknowledged Friday that it could no longer raise money because of the credit squeeze. Read more..
Stocks fell yesterday as heavy withdrawals from the British bank Northern Rock reignited concern over the cost of credit and sent the Standard & Poor’s 500-stock index down for the first time in five days. Read more..
Barry Callebaut, a Swiss candy maker, agreed to sell its Brach’s Candy unit after weaker-than-forecast growth in the United States market for private-label confections. Callebaut, based in Zurich, sold Brach’s to Farley’s & Sathers Candy, a privat... Read more..
Apple will offer the iPhone in Britain with free access to 7,500 WiFi hot spots to compensate for a weak data network. Read more..
Values are reported in US Dollars
|Wells Fargo & Co.||WFC||35.47||37.25||35.46||37.19||21M|
|Procter & Gamble||PG||68.29||69.07||67.89||68.68||15.5M|
|Walt Disney & Co.||DIS||33.54||34.70||33.40||34.58||13.7M|
|Johnson & Johnson||JNJ||62.97||63.95||62.94||63.83||12.7M|
|International Business Machines||IBM||115.00||116.78||114.83||116.63||7.84M|
Exchange Rates of September 18, 2007
|US Dollar||Japanese Yen||1 USD = 115.990 JPY||1 JPY = 0.009 USD|
|US Dollar||Canadian Dollar||1 USD = 1.014 CAD||1 CAD = 0.986 USD|
|US Dollar||Swiss Franc||1 USD = 1.181 CHF||1 CHF = 0.847 USD|
|US Dollar||Chinese Yuan||1 USD = 7.523 CNY||1 CNY = 0.133 USD|
|Euro||Japanese Yen||1 EUR = 162.180 JPY||1 JPY = 0.006 EUR|
|Euro||Pound Sterling||1 EUR = 0.695 GBP||1 GBP = 1.440 EUR|
|Euro||Australian Dollar||1 EUR = 1.641 AUD||1 AUD = 0.609 EUR|
|Euro||Canadian Dollar||1 EUR = 1.417 CAD||1 CAD = 0.706 EUR|
|Euro||Swiss Franc||1 EUR = 1.651 CHF||1 CHF = 0.606 EUR|
|Japanese Yen||Pound Sterling||1 JPY = 0.428 GBP||1 GBP = 2.336 JPY|
|Japanese Yen||Australian Dollar||1 JPY = 1.012 AUD||1 AUD = 0.989 JPY|
|Japanese Yen||Canadian Dollar||1 JPY = 0.874 CAD||1 CAD = 1.145 JPY|
|Japanese Yen||Swiss Franc||1 JPY = 1.018 CHF||1 CHF = 0.983 JPY|
|Pound Sterling||Australian Dollar||1 GBP = 2.364 AUD||1 AUD = 0.423 GBP|
|Pound Sterling||Canadian Dollar||1 GBP = 2.041 CAD||1 CAD = 0.490 GBP|
|Pound Sterling||Swiss Franc||1 GBP = 2.376 CHF||1 CHF = 0.421 GBP|
|Australian Dollar||Canadian Dollar||1 AUD = 0.863 CAD||1 CAD = 1.159 AUD|
|Australian Dollar||Swiss Franc||1 AUD = 1.005 CHF||1 CHF = 0.995 AUD|
|Canadian Dollar||Swiss Franc||1 CAD = 1.164 CHF||1 CHF = 0.859 CAD|