Financial news on August 22nd, 2008

Business and Financial news
Burdened by Mortgages, Lehman’s Options Narrow

As the stocks of Fannie Mae and Freddie Mac have plummeted, financial shares have taken a beating. But few have suffered as much as Lehman Brothers. Read more..

By JENNY ANDERSON - The New York Times

Oil Soars, Dollar Falls and Worries Stay

Oil jumped more than $5 a barrel and the dollar fell against the euro and the yen as raw material prices had one of their biggest bounces in weeks and financial stocks lingered in the red. Read more..

By MICHAEL M. GRYNBAUM - The New York Times

Seeking More Viewers, MSNBC Turns Left

With the promotion of Rachel Maddow, the Air America radio host, to a prime-time television spot this week, MSNBC cemented its identity as a channel for a liberal audience. Read more..

By BRIAN STELTER - The New York Times

Slump Could Mirror 1990s, British Regulator Says

Britain’s banks should be prepared to cope with an economic downturn and a housing market slump that could mirror the recession in the early 1990s, a regulator said. Read more..

By JULIA WERDIGIER - The New York Times

Stock Markets

Values are reported in US Dollars

StockTicker symbolOpenHighLowCloseVolume
Wells Fargo & Co.WFC29.2229.6628.7029.3644.9M
JPMorgan ChaseJPM37.2238.2536.8637.6736M
General ElectricGE28.9129.2428.8529.1229.9M
Cisco SystemsCSCO24.3824.8224.2824.7128.2M
Oracle Corp.ORCL22.5222.8222.3922.7018.3M
AT&T Inc.T30.9031.4730.7631.1718.1M
HP Inc.HPQ46.4947.2246.3047.0613.4M
Home DepotHD26.6927.1526.5827.1113.3M
Wal-Mart StoresWMT58.7159.5158.7159.4412.7M
Procter & GamblePG70.0771.8070.0771.6111.9M
Verizon CommunicationsVZ34.8435.4634.7135.2910.9M
Walt Disney & Co.DIS32.1232.3831.8832.207.95M
Johnson & JohnsonJNJ71.0571.6870.8271.427.72M
Bristol-Myers SquibbBMY22.0522.4721.9022.347.2M
Abbott LaboratoriesABT58.1458.9258.0158.487.08M
UnitedHealth GroupUNH30.4630.7230.1130.616.67M
International Business MachinesIBM123.30125.35122.80124.935.99M
Gilead SciencesGILD54.4254.9353.8354.314.93M
Union PacificUNP78.6281.1578.3279.554.75M
United TechnologiesUTX64.8866.0663.0065.984.1M
Berkshire HathawayBRK.B3845.003895.003845.003870.0012.8K
Exchange Rates of August 22nd, 2008
CurrenciesExchange Rates
US DollarJapanese Yen1 USD = 110.090 JPY1 JPY = 0.009 USD
US DollarCanadian Dollar1 USD = 1.047 CAD1 CAD = 0.955 USD
US DollarSwiss Franc1 USD = 1.098 CHF1 CHF = 0.910 USD
US DollarChinese Yuan1 USD = 6.834 CNY1 CNY = 0.146 USD
EuroJapanese Yen1 EUR = 162.850 JPY1 JPY = 0.006 EUR
EuroPound Sterling1 EUR = 0.798 GBP1 GBP = 1.253 EUR
EuroAustralian Dollar1 EUR = 1.708 AUD1 AUD = 0.586 EUR
EuroCanadian Dollar1 EUR = 1.548 CAD1 CAD = 0.646 EUR
EuroSwiss Franc1 EUR = 1.625 CHF1 CHF = 0.615 EUR
Japanese YenPound Sterling1 JPY = 0.490 GBP1 GBP = 2.041 JPY
Japanese YenAustralian Dollar1 JPY = 1.049 AUD1 AUD = 0.954 JPY
Japanese YenCanadian Dollar1 JPY = 0.950 CAD1 CAD = 1.052 JPY
Japanese YenSwiss Franc1 JPY = 0.998 CHF1 CHF = 1.003 JPY
Pound SterlingAustralian Dollar1 GBP = 2.141 AUD1 AUD = 0.467 GBP
Pound SterlingCanadian Dollar1 GBP = 1.940 CAD1 CAD = 0.516 GBP
Pound SterlingSwiss Franc1 GBP = 2.035 CHF1 CHF = 0.491 GBP
Australian DollarCanadian Dollar1 AUD = 0.906 CAD1 CAD = 1.104 AUD
Australian DollarSwiss Franc1 AUD = 0.950 CHF1 CHF = 1.052 AUD
Canadian DollarSwiss Franc1 CAD = 1.049 CHF1 CHF = 0.953 CAD

See what else happened on August 22nd, 2008