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

Stock Ticker symbol Open High Low Close Volume
General Electric GE 29.12 29.20 25.52 26.62 211M
Microsoft MSFT 26.37 26.40 23.50 25.16 135M
Intel INTC 20.16 20.22 18.36 19.23 108M
Wells Fargo & Co. WFC 44.30 44.75 37.01 39.80 96.6M
JPMorgan Chase JPM 47.00 48.00 42.55 47.05 88.5M
Pfizer PFE 18.90 18.99 17.70 18.55 80.3M
Oracle Corp. ORCL 20.99 21.00 15.00 20.07 76.2M
ExxonMobil XOM 80.49 82.00 78.22 79.61 58.8M
Apple AAPL 142.60 144.20 136.31 140.91 51.1M
Cisco Systems CSCO 24.00 24.30 23.31 24.29 49.6M
Wal-Mart Stores WMT 63.22 63.85 59.45 59.70 44.5M
AT&T Inc. T 30.66 31.18 29.25 30.43 44.2M
Home Depot HD 29.11 29.70 26.15 27.37 32.6M
HP Inc. HPQ 48.87 49.20 47.71 48.26 30.3M
Verizon Communications VZ 33.59 34.00 32.77 33.30 28.7M
Procter & Gamble PG 72.56 72.75 68.15 70.36 28.6M
Walt Disney & Co. DIS 34.01 34.85 33.25 34.39 28.4M
ConocoPhillips COP 75.20 79.88 73.60 78.31 27.6M
Johnson & Johnson JNJ 71.85 72.69 69.21 69.99 27.4M
Merck MRK 32.64 32.87 30.52 31.84 25.5M
Chevron CVX 85.56 88.11 83.71 87.80 24M
Coca-Cola KO 54.75 54.75 50.12 52.72 23.9M
Comcast CMCSA 21.05 21.29 20.07 20.71 23.1M
Abbott Laboratories ABT 58.99 59.59 57.75 58.71 22.8M
Altria MO 20.81 20.88 20.01 20.54 20.3M
Alphabet GOOGL 461.00 462.07 443.28 449.15 20M
Bristol-Myers Squibb BMY 21.27 21.50 19.70 21.00 19.6M
Gilead Sciences GILD 48.62 49.00 39.80 46.46 18.2M
Visa V 71.01 71.16 67.04 69.57 17.2M
Schlumberger SLB 85.50 90.71 82.95 90.71 15.7M
Amazon AMZN 80.12 86.77 76.50 81.00 14.8M
Pepsico PEP 73.63 75.25 72.32 73.19 14.7M
International Business Machines IBM 119.59 124.00 117.50 118.85 14.4M
McDonald's MCD 64.66 65.47 63.60 63.98 13.9M
UnitedHealth Group UNH 29.94 30.00 26.34 26.79 13.1M
United Technologies UTX 64.51 68.00 61.01 64.30 11.1M
Amgen AMGN 61.82 62.39 58.19 59.97 11M
Boeing BA 60.74 61.00 57.60 59.76 10.9M
3M MMM 74.24 74.71 71.01 72.68 10.1M
Union Pacific UNP 77.00 80.05 73.99 76.73 9.31M
Berkshire Hathaway BRK.B 4490.00 4595.00 4280.00 4595.00 70.1K
Exchange Rates of September 19, 2008
CurrenciesExchange Rates
US Dollar Japanese Yen 1 USD = 107.430 JPY 1 JPY = 0.009 USD
US Dollar Canadian Dollar 1 USD = 1.047 CAD 1 CAD = 0.956 USD
US Dollar Swiss Franc 1 USD = 1.105 CHF 1 CHF = 0.905 USD
US Dollar Chinese Yuan 1 USD = 6.836 CNY 1 CNY = 0.146 USD
Euro Japanese Yen 1 EUR = 155.430 JPY 1 JPY = 0.006 EUR
Euro Pound Sterling 1 EUR = 0.790 GBP 1 GBP = 1.266 EUR
Euro Australian Dollar 1 EUR = 1.733 AUD 1 AUD = 0.577 EUR
Euro Canadian Dollar 1 EUR = 1.514 CAD 1 CAD = 0.661 EUR
Euro Swiss Franc 1 EUR = 1.599 CHF 1 CHF = 0.626 EUR
Euro Chinese Yuan 1 EUR = 9.889 CNY 1 CNY = 0.101 EUR
Japanese Yen Pound Sterling 1 JPY = 0.511 GBP 1 GBP = 1.957 JPY
Japanese Yen Australian Dollar 1 JPY = 1.132 AUD 1 AUD = 0.884 JPY
Japanese Yen Canadian Dollar 1 JPY = 0.981 CAD 1 CAD = 1.019 JPY
Japanese Yen Swiss Franc 1 JPY = 1.036 CHF 1 CHF = 0.965 JPY
Pound Sterling Australian Dollar 1 GBP = 2.195 AUD 1 AUD = 0.456 GBP
Pound Sterling Canadian Dollar 1 GBP = 1.917 CAD 1 CAD = 0.522 GBP
Pound Sterling Swiss Franc 1 GBP = 2.024 CHF 1 CHF = 0.494 GBP
Pound Sterling Chinese Yuan 1 GBP = 12.508 CNY 1 CNY = 0.080 GBP
Australian Dollar Canadian Dollar 1 AUD = 0.866 CAD 1 CAD = 1.154 AUD
Australian Dollar Swiss Franc 1 AUD = 0.922 CHF 1 CHF = 1.085 AUD
Australian Dollar Chinese Yuan 1 AUD = 5.700 CNY 1 CNY = 0.175 AUD
Canadian Dollar Swiss Franc 1 CAD = 1.055 CHF 1 CHF = 0.948 CAD
Canadian Dollar Chinese Yuan 1 CAD = 6.532 CNY 1 CNY = 0.153 CAD
Swiss Franc Chinese Yuan 1 CHF = 6.184 CNY 1 CNY = 0.162 CHF

See what else happened on September 19, 2008