Financial news on September 19th, 2007

Business and Financial news
Bank of England Offers New Infusion of Loans

The central bank doubled the amount of emergency loans made available to British banks caught short in the global credit squeeze. Read more..

By JULIA WERDIGIER - The New York Times

Foreign Sales Bolster Earnings at Best Buy

The consumer electronics retailer said 2nd-quarter profit rose to $250 million on strong international results and tighter spending controls. Read more..

By BLOOMBERG NEWS - The New York Times

Google Program Enlists Mini-Sites as Selling Tool for Advertisers

The company is seizing on the popularity of widgets — small online tools that function like mini-Web sites — for its latest push into advertising. Read more..

By LOUISE STORY - The New York Times

Impac to All but Cease Loans and Omit 2007 Dividends

Impac Mortgage Holdings, a California home lender that suspended some operations last month, now plans to cease almost all lending and omit dividends for the rest of 2007 after “disruptions” caused by rising defaults. Read more..

By BLOOMBERG NEWS - The New York Times

Lehman Profits Fall, but Give Wall Street a Lift

The investment bank said third-quarter profit fell less than expected, as strength in stock trading and investment banking offset losses from the mortgage market. Read more..

By JENNY ANDERSON - The New York Times

More Retailers Found to Have Lead-Tainted Items

Congressional investigators determined that major American retailers have found more lead-contaminated children’s products in their inventories but have not yet notified the public. Read more..

By ERIC LIPTON - The New York Times

New Push Into China by N.B.A.

In a move certain to highlight the growing importance of China to both the National Basketball Association and the sport, the N.B.A. plans to announce Wednesday the formation of a Chinese subsidiary. Read more..

By KEITH BRADSHER - The New York Times

Suddenly, a Hesitation About Splurging

Lavishness is being replaced by caution at hedge funds due to the recent turmoil in the markets and calls from Capitol Hill to increase taxes on the industry. Read more..

By LANDON THOMAS Jr - The New York Times

Will the Fed Reverse the Housing Slump?

There are good reasons to believe that the real estate slump has a long way to go, and that’s the main reason the Fed went further than most analysts expected in cutting interest rates. Read more..

By DAVID LEONHARDT - The New York Times

With Economy Volatile, Financial Firms Start to Stress Stability

Weeks after problems with subprime mortgages began roiling the industry, advertisers are offering reassurances about their stability and ability to ride out the storm. Read more..

By STUART ELLIOTT - The New York Times

Stock Markets

Values are reported in US Dollars

StockTicker symbolOpenHighLowCloseVolume
Cisco SystemsCSCO32.1332.4832.0532.0949.6M
Oracle Corp.ORCL20.9321.1320.6120.8446.2M
General ElectricGE41.7742.0741.6441.7744.5M
AT&T Inc.T40.7941.9340.7841.5836.8M
JPMorgan ChaseJPM47.9748.0647.1747.5731.8M
Wal-Mart StoresWMT44.5745.0544.4144.7522.2M
Wells Fargo & Co.WFC37.3837.9937.1937.3021.4M
HP Inc.HPQ50.2550.5349.4049.7820.4M
Home DepotHD36.5537.1536.0236.1820.2M
Johnson & JohnsonJNJ63.7664.7863.6564.4918M
Bristol-Myers SquibbBMY28.8829.2728.3228.9116.5M
Procter & GamblePG68.9569.0068.1068.7915M
Verizon CommunicationsVZ43.4643.9043.3343.7812.9M
Abbott LaboratoriesABT53.8054.2053.3753.9512.7M
Walt Disney & Co.DIS34.8134.9534.5434.5610.5M
International Business MachinesIBM116.90117.19115.78116.6710.3M
UnitedHealth GroupUNH50.2550.4449.6049.847.49M
Gilead SciencesGILD38.4538.6838.0338.646.99M
United TechnologiesUTX78.2778.9978.0578.905.13M
Union PacificUNP117.31117.31113.90114.832.19M
Berkshire HathawayBRK.B3973.003988.003900.003900.0022.9K
Exchange Rates of September 19th, 2007
CurrenciesExchange Rates
US DollarJapanese Yen1 USD = 115.890 JPY1 JPY = 0.009 USD
US DollarCanadian Dollar1 USD = 1.014 CAD1 CAD = 0.986 USD
US DollarSwiss Franc1 USD = 1.184 CHF1 CHF = 0.845 USD
US DollarChinese Yuan1 USD = 7.513 CNY1 CNY = 0.133 USD
EuroJapanese Yen1 EUR = 161.870 JPY1 JPY = 0.006 EUR
EuroPound Sterling1 EUR = 0.698 GBP1 GBP = 1.432 EUR
EuroAustralian Dollar1 EUR = 1.631 AUD1 AUD = 0.613 EUR
EuroCanadian Dollar1 EUR = 1.417 CAD1 CAD = 0.706 EUR
EuroSwiss Franc1 EUR = 1.653 CHF1 CHF = 0.605 EUR
Japanese YenPound Sterling1 JPY = 0.431 GBP1 GBP = 2.319 JPY
Japanese YenAustralian Dollar1 JPY = 1.007 AUD1 AUD = 0.993 JPY
Japanese YenCanadian Dollar1 JPY = 0.875 CAD1 CAD = 1.143 JPY
Japanese YenSwiss Franc1 JPY = 1.021 CHF1 CHF = 0.979 JPY
Pound SterlingAustralian Dollar1 GBP = 2.335 AUD1 AUD = 0.428 GBP
Pound SterlingCanadian Dollar1 GBP = 2.028 CAD1 CAD = 0.493 GBP
Pound SterlingSwiss Franc1 GBP = 2.367 CHF1 CHF = 0.423 GBP
Australian DollarCanadian Dollar1 AUD = 0.868 CAD1 CAD = 1.152 AUD
Australian DollarSwiss Franc1 AUD = 1.013 CHF1 CHF = 0.987 AUD
Canadian DollarSwiss Franc1 CAD = 1.167 CHF1 CHF = 0.857 CAD

See what else happened on September 19th, 2007