Financial news on July 23, 2008

Business and Financial news
A Mortgage Rescue Strains Calculations

The Congressional Budget Office said a proposed rescue of Fannie Mae and Freddie Mac could appear on the federal budget as a $25 billion cost to taxpayers, but the figure is, at best, a rough estimate. Read more..

By DAVID M. HERSZENHORN - The New York Times

Direct Mail Tries to Go Green. No, Really.

A group of direct-marketing companies, along with a handful of their corporate clients, are banding together to make an inherently unsustainable practice at least a little bit greener. Read more..

By CLAUDIA H. DEUTSCH - The New York Times

Feeling Powerless, India Blames Oil Speculation

India’s finance minister, Palaniappan Chidambaram, said speculation in the market was a greater factor in rising oil prices than offer and demand alone. Read more..

By HEATHER TIMMONS - The New York Times

G.E. and Abu Dhabi Fund Form Financial Partnership

General Electric said it would partner with Mubadala Development Company, an Abu Dhabi-based sovereign wealth fund, to create an $8 billion commercial finance fund. Read more..

By ABHA BHATTARAI - The New York Times

Nissan Says Electric Cars Will Be Quickly Profitable

The capabilities of Nissan’s electric cars, to be introduced in 2010, will vary by country but none will have range-extending gasoline engines, the company’s chief executive said. Read more..

By NICK BUNKLEY - The New York Times

Prices of Food and Gas Take a Toll in Asia

With large price increases for commonly used commodities, countries like India and Vietnam are already having to deal with double-digit inflation. Read more..

By KEITH BRADSHER - The New York Times

Woes Afflicting Mortgage Giants Raise Loan Rates

The troubles at Fannie Mae and Freddie Mac could deal another blow to the housing market, as higher interest rates make it harder to refinance existing debts. Read more..

By VIKAS BAJAJ - The New York Times

Yahoo’s Revenue Rises a Bit, but Profit Falls 18%

Yahoo said that its revenue in the second quarter grew a sluggish 6 percent from the same period a year earlier as profits fell. Read more..

By MIGUEL HELFT - The New York Times

Stock Markets

Values are reported in US Dollars

Stock Ticker symbol Open High Low Close Volume
Wells Fargo & Co. WFC 30,12 31,97 29,86 30,45 122M
Microsoft MSFT 25,92 26,84 25,85 26,43 79.4M
General Electric GE 28,78 29,39 28,55 29,33 78.4M
Pfizer PFE 18,79 19,12 18,61 19,07 65.7M
JPMorgan Chase JPM 40,91 43,00 39,37 41,96 59.3M
Intel INTC 22,20 22,62 22,02 22,30 56.7M
Cisco Systems CSCO 22,00 22,61 21,80 22,17 47.1M
AT&T Inc. T 32,79 33,56 32,16 33,06 41.2M
Apple AAPL 165,15 168,37 161,56 166,26 37.9M
Oracle Corp. ORCL 21,54 21,59 21,14 21,50 32.2M
Merck MRK 31,69 32,32 31,21 31,77 31.8M
Wal-Mart Stores WMT 57,50 58,99 56,69 58,09 31.2M
ExxonMobil XOM 82,98 83,00 80,60 80,99 31.1M
UnitedHealth Group UNH 27,92 28,13 27,28 27,76 26.6M
Home Depot HD 23,76 25,85 23,76 25,03 26.4M
Comcast CMCSA 19,83 20,28 19,47 20,05 20.8M
ConocoPhillips COP 84,81 84,81 81,46 81,83 20.7M
Chevron CVX 85,75 85,81 82,33 82,65 19.1M
Verizon Communications VZ 34,79 36,16 34,67 35,84 18.3M
Amazon AMZN 67,78 72,07 67,46 70,54 17.9M
Abbott Laboratories ABT 57,84 57,99 56,81 56,99 16.9M
HP Inc. HPQ 43,41 44,68 43,41 44,28 16.3M
Schlumberger SLB 103,92 104,10 99,08 100,54 16.2M
Bristol-Myers Squibb BMY 21,77 22,21 21,61 21,89 16.2M
McDonald's MCD 61,20 61,21 58,52 59,66 15M
Walt Disney & Co. DIS 30,62 31,19 30,40 31,15 13.2M
Gilead Sciences GILD 51,41 53,45 51,26 52,70 12.9M
Coca-Cola KO 51,52 52,55 51,02 52,50 12.9M
Altria MO 20,63 21,22 20,63 21,21 12.8M
Visa V 73,50 75,00 72,60 73,25 12.5M
Procter & Gamble PG 64,25 64,94 63,82 64,70 11.3M
Boeing BA 67,32 68,01 65,62 66,72 11M
Johnson & Johnson JNJ 68,21 68,35 67,62 68,27 10.3M
International Business Machines IBM 129,78 130,33 128,29 129,52 10.2M
Alphabet GOOGL 482,00 497,23 478,10 489,22 9.78M
Amgen AMGN 54,61 54,64 53,45 53,92 9.48M
Pepsico PEP 66,49 67,86 65,51 67,72 9.26M
United Technologies UTX 65,47 65,96 64,74 65,78 6.4M
Union Pacific UNP 75,15 77,50 74,17 77,33 5.74M
3M MMM 70,47 71,06 70,06 70,80 4.19M
Berkshire Hathaway BRK.B 3978,00 3978,00 3908,00 3925,00 54.3K
Exchange Rates of July 23, 2008
CurrenciesExchange Rates
US Dollar Japanese Yen 1 USD = 107,910 JPY 1 JPY = 0,009 USD
US Dollar Canadian Dollar 1 USD = 1,011 CAD 1 CAD = 0,989 USD
US Dollar Swiss Franc 1 USD = 1,038 CHF 1 CHF = 0,963 USD
US Dollar Chinese Yuan 1 USD = 6,830 CNY 1 CNY = 0,146 USD
Euro Japanese Yen 1 EUR = 169,260 JPY 1 JPY = 0,006 EUR
Euro Pound Sterling 1 EUR = 0,785 GBP 1 GBP = 1,274 EUR
Euro Australian Dollar 1 EUR = 1,632 AUD 1 AUD = 0,613 EUR
Euro Canadian Dollar 1 EUR = 1,586 CAD 1 CAD = 0,630 EUR
Euro Swiss Franc 1 EUR = 1,628 CHF 1 CHF = 0,614 EUR
Japanese Yen Pound Sterling 1 JPY = 0,464 GBP 1 GBP = 2,157 JPY
Japanese Yen Australian Dollar 1 JPY = 0,964 AUD 1 AUD = 1,037 JPY
Japanese Yen Canadian Dollar 1 JPY = 0,937 CAD 1 CAD = 1,067 JPY
Japanese Yen Swiss Franc 1 JPY = 0,962 CHF 1 CHF = 1,040 JPY
Pound Sterling Australian Dollar 1 GBP = 2,079 AUD 1 AUD = 0,481 GBP
Pound Sterling Canadian Dollar 1 GBP = 2,020 CAD 1 CAD = 0,495 GBP
Pound Sterling Swiss Franc 1 GBP = 2,073 CHF 1 CHF = 0,482 GBP
Australian Dollar Canadian Dollar 1 AUD = 0,971 CAD 1 CAD = 1,030 AUD
Australian Dollar Swiss Franc 1 AUD = 0,997 CHF 1 CHF = 1,003 AUD
Canadian Dollar Swiss Franc 1 CAD = 1,026 CHF 1 CHF = 0,975 CAD

See what else happened on July 23, 2008