Financial news on September 18, 2007

Business and Financial news
Debt Market Looks to Fed to Restore Confidence

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..

By ERIC DASH - The New York Times

Europe Reconsiders Plan to Relax Consumer Product Safety Rules

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..

By STEPHEN CASTLE and DAN BILEFSKY - The New York Times

Foreclosures Surged 36% in August, Report Says

The sharp increases provide more evidence that the troubles in the housing and mortgage markets may prove long-lived. Read more..

By VIKAS BAJAJ - The New York Times

His Most Essential Travel Item: A 6-Year-Old’s Enthusiasm

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..

By DARRELL WADE - The New York Times

I.B.M. to Offer Office Software Free in Challenge to Microsoft’s Line

The company plans to announce the creation of I.B.M. Lotus Symphony, free programs for word processing, spreadsheets and presentations. Read more..

By STEVE LOHR - The New York Times

Memo Pad

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..

By JOE SHARKEY - The New York Times

Official Assurances Fail to Stem Rush of Withdrawals at British Bank

Panicky customers of Northern Rock have withdrawn $4 billion since the bank acknowledged Friday that it could no longer raise money because of the credit squeeze.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..

By JULIA WERDIGIER - The New York Times

Shares Fall as Credit Worries Resurge

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..

By BLOOMBERG NEWS - The New York Times

Switzerland: Brach’s Candy Sold

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..

By BLOOMBERG NEWS - The New York Times

The Cloud Over the British iPhone

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..

By SAUL HANSELL - The New York Times

Stock Markets

Values are reported in US Dollars

Stock Ticker symbol Open High Low Close Volume
Microsoft MSFT 28.70 28.97 28.27 28.93 77.5M
Intel INTC 24.95 25.49 24.89 25.41 72.1M
Cisco Systems CSCO 31.58 32.04 31.41 32.04 56.2M
General Electric GE 40.36 41.75 40.20 41.68 51.5M
Pfizer PFE 24.17 24.63 23.96 24.54 40.7M
Apple AAPL 139.05 142.85 137.83 140.92 38M
Comcast CMCSA 25.06 25.08 24.63 25.00 31.6M
Oracle Corp. ORCL 20.08 20.73 20.05 20.73 28.8M
Wal-Mart Stores WMT 43.49 44.65 43.35 44.44 27.9M
JPMorgan Chase JPM 45.68 47.86 45.12 47.82 27.3M
ExxonMobil XOM 89.62 91.93 89.16 91.76 26.4M
AT&T Inc. T 40.23 40.84 40.06 40.83 24.5M
Home Depot HD 35.51 36.38 35.25 36.36 21.6M
Wells Fargo & Co. WFC 35.47 37.25 35.46 37.19 21M
Abbott Laboratories ABT 52.33 53.73 52.14 53.60 18.1M
Procter & Gamble PG 68.29 69.07 67.89 68.68 15.5M
ConocoPhillips COP 84.65 88.24 84.24 87.79 14.5M
HP Inc. HPQ 49.45 50.36 48.15 50.17 14.4M
Walt Disney & Co. DIS 33.54 34.70 33.40 34.58 13.7M
Bristol-Myers Squibb BMY 28.17 28.98 27.97 28.91 12.7M
Johnson & Johnson JNJ 62.97 63.95 62.94 63.83 12.7M
Verizon Communications VZ 42.72 43.33 42.61 43.31 12.3M
Amgen AMGN 55.41 56.07 54.38 56.01 11.5M
Schlumberger SLB 100.49 105.07 99.21 104.79 11.5M
McDonald's MCD 54.97 55.19 54.61 55.02 11.1M
Boeing BA 98.60 98.82 96.44 98.47 9.98M
Coca-Cola KO 55.41 56.43 55.41 56.41 9.95M
Chevron CVX 91.20 93.53 90.95 93.34 9.8M
Merck MRK 48.80 50.80 48.80 50.57 9.73M
UnitedHealth Group UNH 50.11 50.48 49.53 50.10 9.32M
Amazon AMZN 87.38 91.60 86.71 88.75 8.92M
Alphabet GOOGL 526.52 537.25 524.27 535.27 8.42M
International Business Machines IBM 115.00 116.78 114.83 116.63 7.84M
Gilead Sciences GILD 37.32 38.53 37.17 38.53 7.65M
Altria MO 67.39 68.09 67.00 68.06 7.24M
Pepsico PEP 70.00 71.10 69.71 70.88 6.01M
United Technologies UTX 75.91 78.30 75.46 78.16 5.4M
3M MMM 89.25 91.76 89.25 91.66 4.35M
Union Pacific UNP 111.77 116.35 110.62 116.26 2.62M
Berkshire Hathaway BRK.B 3947.00 3962.50 3924.00 3952.00 21.4K
Exchange Rates of September 18, 2007
CurrenciesExchange Rates
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

See what else happened on September 18, 2007