Financial news on August 22, 2007

Business and Financial news
China Raises Interest Rates to Cool Its Heated Economy

The People’s Bank of China said it was raising the one-year yuan lending rate 18 basis points to 7.02 percent from 6.84 percent, effective Wednesday, to curb inflation. Read more..

By DAVID LAGUE - The New York Times

Developer’s Big Manhattan Move Faces a Time and Credit Squeeze

There is much speculation in the commercial real estate market that Harry Macklowe, the New York developer, is in trouble. Read more..

By TERRY PRISTIN - The New York Times

European Banks Still Wary on Lending

Clouds persisted Wednesday over European credit markets, with some commercial banks still reluctant to lend to each other. Read more..

By JULIA WERDIGIER and CARTER DOUGHERTY - The New York Times

Google Aims to Make YouTube Profitable With Ads

Google believes it finally has found the formula to cash in on YouTube’s potential as a magnet for online video advertising and keep its audience loyal at the same time. Read more..

By MIGUEL HELFT - The New York Times

In Google Earth, a Service for Scanning the Heavens

After turning millions of Internet users into virtual explorers of the world, the Internet search giant is now hoping to turn many of them into virtual stargazers. Read more..

By MIGUEL HELFT - The New York Times

Misgivings Spoil Plans of Start-Up

An underwriter has pulled out of the initial public offering for Accoona, a new Internet search engine that former President Bill Clinton helped introduce. Read more..

By SAUL HANSELL - The New York Times

MTV, RealNetworks to Mount Challenge Against iTunes

MTV Networks said it would fold its floundering digital music service into a venture with RealNetworks, owner of the Rhapsody music subscription service. Read more..

By JEFF LEEDS - The New York Times

Report Cites Brutal Conditions in Chinese Factories

A workers’ rights group in the United States released a report today detailing what it called brutal conditions and illegal practices in Chinese toy factories. Read more..

By DAVID BARBOZA - The New York Times

The Accoona Files 1: A Search Company?

Notes on Accoona’s search business: There’s not much R&D spending. SuperTargeted search doesn’t work. Read more..

By SAUL HANSELL - The New York Times

Tribune Shareholders Back Zell’s Takeover

Real estate billionaire Samuel Zell’s $8.2 billion deal to take the Tribune Company private is now one step closer to being completed. Read more..

By DESIREE J. HANFORD - The New York Times

Stock Markets

Values are reported in US Dollars

Stock Ticker symbol Open High Low Close Volume
Intel INTC 24.10 24.20 23.94 24.15 51.2M
Microsoft MSFT 28.27 28.32 28.01 28.22 44.8M
Pfizer PFE 24.35 24.67 24.35 24.65 40.9M
Cisco Systems CSCO 30.45 30.47 29.91 30.26 39.8M
General Electric GE 38.65 39.28 38.50 39.14 38.5M
Apple AAPL 131.22 132.75 130.33 132.51 37.9M
Comcast CMCSA 24.89 25.00 24.52 25.00 31.4M
JPMorgan Chase JPM 46.67 46.83 45.03 46.00 30.8M
Home Depot HD 34.48 34.80 34.10 34.77 28.2M
Wells Fargo & Co. WFC 37.41 37.74 36.38 36.70 25.7M
Oracle Corp. ORCL 19.39 19.42 19.07 19.32 23.7M
ExxonMobil XOM 83.73 84.24 83.03 83.58 22.5M
AT&T Inc. T 39.28 39.88 38.50 39.78 19.6M
Wal-Mart Stores WMT 43.79 43.89 43.43 43.75 18.9M
ConocoPhillips COP 78.68 79.11 78.11 78.90 16.1M
HP Inc. HPQ 46.54 46.64 45.82 46.42 15.5M
Johnson & Johnson JNJ 61.70 62.10 61.62 62.01 12.1M
Verizon Communications VZ 41.99 41.99 41.38 41.82 11.4M
Abbott Laboratories ABT 52.49 52.94 51.72 52.14 11.2M
Amgen AMGN 49.56 49.59 48.80 49.30 10.8M
Merck MRK 50.27 50.76 49.62 50.36 10.7M
Walt Disney & Co. DIS 33.58 33.68 33.11 33.57 10.7M
UnitedHealth Group UNH 49.00 49.22 48.10 48.65 10.3M
Chevron CVX 84.81 85.56 84.35 85.39 10.3M
Procter & Gamble PG 64.88 65.11 64.39 64.74 9.6M
Altria MO 67.65 68.50 67.30 68.24 8.63M
Coca-Cola KO 54.37 54.50 53.78 53.95 7.64M
Pepsico PEP 68.63 68.90 67.80 68.80 7.34M
Bristol-Myers Squibb BMY 28.48 28.99 28.14 28.75 7.15M
Amazon AMZN 78.24 79.49 77.84 78.50 6.85M
Schlumberger SLB 90.33 91.35 89.58 91.04 6.72M
Alphabet GOOGL 509.96 516.25 509.25 512.75 6.5M
McDonald's MCD 48.62 49.45 48.56 49.36 6.38M
International Business Machines IBM 110.09 110.50 109.15 110.00 6.33M
Gilead Sciences GILD 38.09 38.13 37.14 37.49 6.22M
United Technologies UTX 73.14 74.22 73.01 73.87 4.47M
Boeing BA 97.50 98.85 97.00 97.99 4.19M
3M MMM 88.52 89.58 88.05 89.07 3.06M
Union Pacific UNP 111.45 113.17 111.06 112.87 2.75M
Berkshire Hathaway BRK.B 4000.00 4000.00 3913.00 3939.00 19.8K
Exchange Rates of August 22, 2007
CurrenciesExchange Rates
US Dollar Japanese Yen 1 USD = 115.310 JPY 1 JPY = 0.009 USD
US Dollar Canadian Dollar 1 USD = 1.062 CAD 1 CAD = 0.942 USD
US Dollar Swiss Franc 1 USD = 1.206 CHF 1 CHF = 0.829 USD
US Dollar Chinese Yuan 1 USD = 7.602 CNY 1 CNY = 0.132 USD
Euro Japanese Yen 1 EUR = 156.190 JPY 1 JPY = 0.006 EUR
Euro Pound Sterling 1 EUR = 0.680 GBP 1 GBP = 1.472 EUR
Euro Australian Dollar 1 EUR = 1.679 AUD 1 AUD = 0.596 EUR
Euro Canadian Dollar 1 EUR = 1.438 CAD 1 CAD = 0.695 EUR
Euro Swiss Franc 1 EUR = 1.634 CHF 1 CHF = 0.612 EUR
Japanese Yen Pound Sterling 1 JPY = 0.435 GBP 1 GBP = 2.299 JPY
Japanese Yen Australian Dollar 1 JPY = 1.074 AUD 1 AUD = 0.931 JPY
Japanese Yen Canadian Dollar 1 JPY = 0.920 CAD 1 CAD = 1.086 JPY
Japanese Yen Swiss Franc 1 JPY = 1.046 CHF 1 CHF = 0.956 JPY
Pound Sterling Australian Dollar 1 GBP = 2.471 AUD 1 AUD = 0.405 GBP
Pound Sterling Canadian Dollar 1 GBP = 2.116 CAD 1 CAD = 0.473 GBP
Pound Sterling Swiss Franc 1 GBP = 2.403 CHF 1 CHF = 0.416 GBP
Australian Dollar Canadian Dollar 1 AUD = 0.856 CAD 1 CAD = 1.168 AUD
Australian Dollar Swiss Franc 1 AUD = 0.972 CHF 1 CHF = 1.028 AUD
Canadian Dollar Swiss Franc 1 CAD = 1.136 CHF 1 CHF = 0.881 CAD

See what else happened on August 22, 2007