Financial news on September 18, 2008

Business and Financial news
Abroad, Bailout Is Seen as a Free Market Detour

In rescuing A.I.G., Washington has likely undercut future efforts to promote free market policies abroad. Read more..

By NELSON D. SCHWARTZ - The New York Times

A Dark Mood Among Hedge Funds in London

In London, where a large number of hedge funds have been shuttered, the market retreat has had a particular resonance. Read more..

By LANDON THOMAS Jr - The New York Times

A New Role for the Fed: Investor of Last Resort

The mighty Federal Reserve is being stretched to its limits, both in the range of problems it is being asked to fix and in its financial firepower. Read more..

By EDMUND L. ANDREWS - The New York Times

Barclays Reaches $1.75 Billion Deal for a Lehman Unit

Barclays, the British bank, announced Wednesday that it had struck an agreement to buy the Lehman Brothers’s core capital markets businesses for the fire-sale price of $1.75 billion. Read more..

By BEN WHITE and ERIC DASH - The New York Times

Echoing the Campaign of a Rival, Microsoft Aims to Redefine ‘I’m a PC’

Microsoft’s new advertising campaign is an audacious embrace of the disdainful label that Apple has gleefully affixed onto users of Microsoft products: “I’m a PC.” Read more..

By STUART ELLIOTT - The New York Times

Investors, Hungry for Hope, Send Dow Up 410

The Dow industrials closed up more than 400 points, but there was little relief from the paralysis that has gripped the credit markets. Read more..

By VIKAS BAJAJ and MICHAEL M. GRYNBAUM - The New York Times

Lloyds Bank Is Discussing Purchase of British Lender

The British mortgage lender HBOS said that it was in talks to be acquired by Lloyds after shares of HBOS collapsed this month on concerns that it might fail. Read more..

By JULIA WERDIGIER - The New York Times

Money Market Funds Enter a World of Risk

Money market funds have typically let investors sleep peacefully. At the moment, that is not necessarily true. Read more..

By TARA SIEGEL BERNARD - The New York Times

The Almost Invisible Earbud

Arriva earbuds, $40, exclusively for the tiny iPod Shuffle. They may just be the best tech idea of the year. Read more..

By DAVID POGUE - The New York Times

With Fed’s $85 Billion Loan, A.I.G. Starts to Calculate a Measured Sell-Off

A day after the Fed’s stunning takeover of A.I.G., its new managers began contemplating a breakup of the insurer’s far-flung empire and selling it off in coming months. Read more..

By MARY WILLIAMS WALSH - The New York Times

Stock Markets

Values are reported in US Dollars

StockTicker symbolOpenHighLowCloseVolume
General ElectricGE23.7425.5322.1924.79209M
Wells Fargo & Co.WFC34.2839.5532.2737.00167M
JPMorgan ChaseJPM36.5341.0534.0440.30133M
MicrosoftMSFT24.8025.3524.0125.26132M
IntelINTC18.4319.6917.9119.26127M
PfizerPFE17.4218.3317.3117.9995.7M
Cisco SystemsCSCO22.2423.2521.8522.8083.4M
Oracle Corp.ORCL18.3718.9517.8418.7576.9M
AppleAAPL130.57140.00120.68134.0959.9M
AT&T Inc.T28.8829.6827.5129.0855.4M
ExxonMobilXOM76.2977.7574.5577.7548.2M
Home DepotHD26.0027.5024.4526.9542.1M
Wal-Mart StoresWMT60.5461.6659.1061.4841.7M
ComcastCMCSA19.8520.6519.4820.4438.7M
HP Inc.HPQ46.4847.6946.0447.1436.7M
Verizon CommunicationsVZ31.7432.5930.4832.5933.5M
Johnson & JohnsonJNJ70.2070.9569.2070.9329.3M
Procter & GamblePG71.2272.9670.4071.3128.2M
ConocoPhillipsCOP70.9973.1569.0472.2627.1M
AltriaMO20.1120.5919.8320.2224.2M
AmgenAMGN62.0263.1458.1659.9923.9M
ChevronCVX81.3683.5078.8882.8823.4M
Walt Disney & Co.DIS32.2533.7432.0633.4422.4M
Abbott LaboratoriesABT57.7559.0556.6558.0821.9M
Bristol-Myers SquibbBMY20.8721.0020.0720.9121.2M
VisaV64.2067.2458.3866.9021M
Coca-ColaKO53.2254.0452.1053.3920.2M
MerckMRK31.4332.0430.6331.9319.9M
Gilead SciencesGILD48.1148.6943.3347.1717.9M
SchlumbergerSLB84.6585.0779.2182.6417.5M
AlphabetGOOGL422.64439.18410.50439.0817.2M
International Business MachinesIBM112.91118.59111.04115.1216M
BoeingBA57.6958.6654.2058.1114M
McDonald'sMCD63.3864.2362.0963.9613.2M
PepsicoPEP71.9874.2771.5373.2313.1M
UnitedHealth GroupUNH25.8526.7224.9026.5712.8M
AmazonAMZN73.0877.5070.0876.5012.4M
Union PacificUNP72.7774.7770.1073.8111.9M
3MMMM69.5171.2468.0370.5010.9M
United TechnologiesUTX61.3362.7859.6462.4910.7M
Berkshire HathawayBRK.B4180.004299.004047.004250.0059.5K
Exchange Rates of September 18, 2008
CurrenciesExchange Rates
US DollarJapanese Yen1 USD = 105.540 JPY1 JPY = 0.009 USD
US DollarCanadian Dollar1 USD = 1.058 CAD1 CAD = 0.945 USD
US DollarSwiss Franc1 USD = 1.107 CHF1 CHF = 0.903 USD
US DollarChinese Yuan1 USD = 6.835 CNY1 CNY = 0.146 USD
EuroJapanese Yen1 EUR = 151.210 JPY1 JPY = 0.007 EUR
EuroPound Sterling1 EUR = 0.789 GBP1 GBP = 1.268 EUR
EuroAustralian Dollar1 EUR = 1.781 AUD1 AUD = 0.561 EUR
EuroCanadian Dollar1 EUR = 1.515 CAD1 CAD = 0.660 EUR
EuroSwiss Franc1 EUR = 1.585 CHF1 CHF = 0.631 EUR
EuroChinese Yuan1 EUR = 9.784 CNY1 CNY = 0.102 EUR
Japanese YenPound Sterling1 JPY = 0.523 GBP1 GBP = 1.912 JPY
Japanese YenAustralian Dollar1 JPY = 1.185 AUD1 AUD = 0.844 JPY
Japanese YenCanadian Dollar1 JPY = 1.013 CAD1 CAD = 0.987 JPY
Japanese YenSwiss Franc1 JPY = 1.049 CHF1 CHF = 0.953 JPY
Pound SterlingAustralian Dollar1 GBP = 2.259 AUD1 AUD = 0.443 GBP
Pound SterlingCanadian Dollar1 GBP = 1.920 CAD1 CAD = 0.521 GBP
Pound SterlingSwiss Franc1 GBP = 2.010 CHF1 CHF = 0.498 GBP
Australian DollarCanadian Dollar1 AUD = 0.850 CAD1 CAD = 1.177 AUD
Australian DollarSwiss Franc1 AUD = 0.889 CHF1 CHF = 1.124 AUD
Canadian DollarSwiss Franc1 CAD = 1.046 CHF1 CHF = 0.956 CAD
Canadian DollarChinese Yuan1 CAD = 6.457 CNY1 CNY = 0.155 CAD
Swiss FrancChinese Yuan1 CHF = 6.170 CNY1 CNY = 0.162 CHF

See what else happened on September 18, 2008