Financial news on September 19, 2008

Business and Financial news
A Bid to Curb Profit Gambit as Banks Fall

A backlash against short sellers has begun, with regulators in the U.S. and Britain tightening rules and authorities in New York intensifying investigations. Read more..

By VIKAS BAJAJ and JONATHAN D. GLATER - The New York Times

A.I.G.’s New Chief Seeks to Reassure Workers

Edward Liddy, who was named A.I.G.’s chief executive on Tuesday night, told employees that turnaround time was limited, but that the company’s core units were strong and it should survive. Read more..

By MICHAEL J. DE LA MERCED - The New York Times

Crude Oil Prices Rise Amid Dwindling Inventories

Crude oil prices briefly returned to triple-digit territory on Thursday, but gave up most of their gains to fall below $100 a barrel by the end of the day. Read more..

By JAD MOUAWAD and CLIFFORD KRAUSS - The New York Times

Morgan Stanley Is Said to Press for Merger With Wachovia

Morgan Stanley is considering its options to shore up its finances and calm investors, including a complex merger with Wachovia. Read more..

By ANDREW ROSS SORKIN and ERIC DASH - The New York Times

Pain Spreads as Credit Vise Grows Tighter

Lenders have become even less willing to part with their money, further crimping budgets and family spending. Read more..

By LOUIS UCHITELLE - The New York Times

Reckless? You’re in Luck

If you get your company into enough trouble to threaten the financial system, Ben Bernanke, the Federal Reserve chairman, and Henry Paulson, the Treasury secretary, won’t let you collapse. Read more..

By FLOYD NORRIS - The New York Times

Russia Will Buy Stocks to Combat Market Slide

President Dmitri A. Medvedev pledged to inject almost $20 billion into financial markets in an effort to halt the free fall of the Russian stock markets. Read more..

By ANDREW E. KRAMER - The New York Times

Uproar Over German Bank’s Payout to Lehman

As the rest of the financial community was scrambling to get its money out, a government-owned German lender gave Lehman Brothers 300 million euros on the same day it filed for bankruptcy. Read more..

By NICHOLAS KULISH - The New York Times

Vast Bailout by U.S. Proposed in Bid to Stem Financial Crisis

Treasury and Fed officials were discussing with leaders in Congress a plan for the government to buy up distressed mortgages. Read more..

By EDMUND L. ANDREWS - The New York Times

Stock Markets

Values are reported in US Dollars

StockTicker symbolOpenHighLowCloseVolume
General ElectricGE29.1229.2025.5226.62211M
MicrosoftMSFT26.3726.4023.5025.16135M
IntelINTC20.1620.2218.3619.23108M
Wells Fargo & Co.WFC44.3044.7537.0139.8096.6M
JPMorgan ChaseJPM47.0048.0042.5547.0588.5M
PfizerPFE18.9018.9917.7018.5580.3M
Oracle Corp.ORCL20.9921.0015.0020.0776.2M
ExxonMobilXOM80.4982.0078.2279.6158.8M
AppleAAPL142.60144.20136.31140.9151.1M
Cisco SystemsCSCO24.0024.3023.3124.2949.6M
Wal-Mart StoresWMT63.2263.8559.4559.7044.5M
AT&T Inc.T30.6631.1829.2530.4344.2M
Home DepotHD29.1129.7026.1527.3732.6M
HP Inc.HPQ48.8749.2047.7148.2630.3M
Verizon CommunicationsVZ33.5934.0032.7733.3028.7M
Procter & GamblePG72.5672.7568.1570.3628.6M
Walt Disney & Co.DIS34.0134.8533.2534.3928.4M
ConocoPhillipsCOP75.2079.8873.6078.3127.6M
Johnson & JohnsonJNJ71.8572.6969.2169.9927.4M
MerckMRK32.6432.8730.5231.8425.5M
ChevronCVX85.5688.1183.7187.8024M
Coca-ColaKO54.7554.7550.1252.7223.9M
ComcastCMCSA21.0521.2920.0720.7123.1M
Abbott LaboratoriesABT58.9959.5957.7558.7122.8M
AltriaMO20.8120.8820.0120.5420.3M
AlphabetGOOGL461.00462.07443.28449.1520M
Bristol-Myers SquibbBMY21.2721.5019.7021.0019.6M
Gilead SciencesGILD48.6249.0039.8046.4618.2M
VisaV71.0171.1667.0469.5717.2M
SchlumbergerSLB85.5090.7182.9590.7115.7M
AmazonAMZN80.1286.7776.5081.0014.8M
PepsicoPEP73.6375.2572.3273.1914.7M
International Business MachinesIBM119.59124.00117.50118.8514.4M
McDonald'sMCD64.6665.4763.6063.9813.9M
UnitedHealth GroupUNH29.9430.0026.3426.7913.1M
United TechnologiesUTX64.5168.0061.0164.3011.1M
AmgenAMGN61.8262.3958.1959.9711M
BoeingBA60.7461.0057.6059.7610.9M
3MMMM74.2474.7171.0172.6810.1M
Union PacificUNP77.0080.0573.9976.739.31M
Berkshire HathawayBRK.B4490.004595.004280.004595.0070.1K
Exchange Rates of September 19, 2008
CurrenciesExchange Rates
US DollarJapanese Yen1 USD = 107.430 JPY1 JPY = 0.009 USD
US DollarCanadian Dollar1 USD = 1.047 CAD1 CAD = 0.956 USD
US DollarSwiss Franc1 USD = 1.105 CHF1 CHF = 0.905 USD
US DollarChinese Yuan1 USD = 6.836 CNY1 CNY = 0.146 USD
EuroJapanese Yen1 EUR = 155.430 JPY1 JPY = 0.006 EUR
EuroPound Sterling1 EUR = 0.790 GBP1 GBP = 1.266 EUR
EuroAustralian Dollar1 EUR = 1.733 AUD1 AUD = 0.577 EUR
EuroCanadian Dollar1 EUR = 1.514 CAD1 CAD = 0.661 EUR
EuroSwiss Franc1 EUR = 1.599 CHF1 CHF = 0.626 EUR
EuroChinese Yuan1 EUR = 9.889 CNY1 CNY = 0.101 EUR
Japanese YenPound Sterling1 JPY = 0.511 GBP1 GBP = 1.957 JPY
Japanese YenAustralian Dollar1 JPY = 1.132 AUD1 AUD = 0.884 JPY
Japanese YenCanadian Dollar1 JPY = 0.981 CAD1 CAD = 1.019 JPY
Japanese YenSwiss Franc1 JPY = 1.036 CHF1 CHF = 0.965 JPY
Pound SterlingAustralian Dollar1 GBP = 2.195 AUD1 AUD = 0.456 GBP
Pound SterlingCanadian Dollar1 GBP = 1.917 CAD1 CAD = 0.522 GBP
Pound SterlingSwiss Franc1 GBP = 2.024 CHF1 CHF = 0.494 GBP
Pound SterlingChinese Yuan1 GBP = 12.508 CNY1 CNY = 0.080 GBP
Australian DollarCanadian Dollar1 AUD = 0.866 CAD1 CAD = 1.154 AUD
Australian DollarSwiss Franc1 AUD = 0.922 CHF1 CHF = 1.085 AUD
Australian DollarChinese Yuan1 AUD = 5.700 CNY1 CNY = 0.175 AUD
Canadian DollarSwiss Franc1 CAD = 1.055 CHF1 CHF = 0.948 CAD
Canadian DollarChinese Yuan1 CAD = 6.532 CNY1 CNY = 0.153 CAD
Swiss FrancChinese Yuan1 CHF = 6.184 CNY1 CNY = 0.162 CHF

See what else happened on September 19, 2008