Financial news on February 24, 2009

Business and Financial news
Across Atlantic, Echoes in R.B.S.’s Lifeline

The British government’s minority stake in the Royal Bank of Scotland has ballooned to 68 percent. Read more..

By LANDON THOMAS Jr - The New York Times

Europe Considers a Tariff on Biofuels

The European Union is preparing to impose trade duties on U.S. biofuels to prevent American producers from putting European producers out of business, diplomats said. Read more..

By JAMES KANTER - The New York Times

Fed Chairman Says Recession Will Extend Through the Year

Ben S. Bernanke walked a line between realism and hope, as home prices and consumer confidence plunged. Read more..

By CATHERINE RAMPELL and JACK HEALY - The New York Times

France Tries to Speed Up Merger of 2 Banks

Up to $6.4 billion will be injected into the bank that will result from the merger of the mutual banks Caisse d’Épargne and Banque Populaire, the government said. Read more..

By JOE SCHMID - The New York Times

Genentech Urges a Rebuff to Roche

A Genentech committee called the offer inadequate and not in the best interest of stockholders. Read more..

By ANDREW POLLACK - The New York Times

Green Inc: Home Green Home

The first of a series following Tom Zeller Jr., editor of the Green Inc. blog, as he makes his nearly 60-year-old home more energy efficient. Read more..

Sean Patrick Farrell - The New York Times

Michigan Is the Latest University to End a Licensing Deal With an Apparel Maker

The university said Russell had violated the university’s code of conduct by closing a unionized factory in Honduras. Read more..

By STEVEN GREENHOUSE - The New York Times

New York Financier Picked as Top Adviser on Auto Industry Bailout

Steven Rattner will be the Treasury Department’s point person in mediating talks involving G.M. and Chrysler and suppliers, bondholders and unions. Read more..

By MICHAEL J. de la MERCED and ANDREW ROSS SORKIN - The New York Times

The Kindle: Good Before, Better Now

While the changes in the new Kindle are fairly minor, they’re exactly what was needed to turn a very good electronic book reader into an even better one. Read more..

By DAVID POGUE - The New York Times

U.A.W. Agrees to Concessions at Ford

Ford can substitute its stock for some of its payments into a retiree health care trust under a deal announced with the union. Read more..

By NICK BUNKLEY - The New York Times

Stock Markets

Values are reported in US Dollars

Stock Ticker symbol Open High Low Close Volume
General Electric GE 8.96 9.26 8.43 9.08 261M
Wells Fargo & Co. WFC 11.42 13.11 11.15 13.05 187M
JPMorgan Chase JPM 20.13 21.10 18.96 21.02 186M
Microsoft MSFT 17.03 17.35 16.36 17.17 123M
Intel INTC 12.15 12.81 12.09 12.73 74.6M
Pfizer PFE 13.37 13.66 13.13 13.59 65.6M
Cisco Systems CSCO 14.39 15.05 14.38 14.99 55.5M
ExxonMobil XOM 69.71 72.29 69.65 72.09 48.9M
HP Inc. HPQ 29.15 29.93 28.75 29.62 40.9M
AT&T Inc. T 22.64 23.41 22.30 23.25 39.5M
Home Depot HD 19.65 20.78 19.44 20.67 37.7M
Oracle Corp. ORCL 15.77 16.50 15.75 16.44 37.7M
Comcast CMCSA 12.62 13.93 12.62 13.88 28.9M
Apple AAPL 87.45 90.89 87.00 90.25 28.8M
Wal-Mart Stores WMT 48.97 50.36 48.69 50.01 26.2M
ConocoPhillips COP 37.92 39.36 37.63 39.25 23M
Altria MO 15.13 15.44 15.00 15.37 19.5M
Chevron CVX 63.50 65.83 62.58 65.28 19.2M
Verizon Communications VZ 28.00 28.72 27.68 28.57 19.2M
Johnson & Johnson JNJ 54.60 54.77 53.84 54.54 18.8M
Abbott Laboratories ABT 53.81 54.93 53.62 54.74 18.5M
Merck MRK 27.91 28.56 27.54 28.53 17.7M
Walt Disney & Co. DIS 17.11 18.15 16.97 17.92 16.5M
Schlumberger SLB 35.26 38.24 35.26 38.05 15.2M
Procter & Gamble PG 49.28 50.18 48.97 49.77 15M
UnitedHealth Group UNH 23.77 24.69 23.60 24.21 14M
Bristol-Myers Squibb BMY 20.00 20.44 19.91 20.36 13.9M
Coca-Cola KO 42.72 43.20 42.19 43.06 13.1M
International Business Machines IBM 84.42 87.08 84.10 86.40 12.9M
Alphabet GOOGL 331.02 349.62 330.89 345.45 12.2M
McDonald's MCD 54.22 54.94 53.92 54.76 10.9M
Visa V 54.34 56.98 53.61 56.35 10.9M
Boeing BA 34.28 35.83 33.89 35.44 10.8M
Amazon AMZN 61.99 66.10 61.89 65.60 10.3M
Amgen AMGN 56.82 56.99 56.22 56.80 9.77M
United Technologies UTX 42.35 43.35 41.76 43.00 9.43M
Gilead Sciences GILD 48.95 50.57 48.75 50.34 9.43M
3M MMM 45.73 47.62 45.35 47.40 8.26M
Pepsico PEP 50.88 51.83 50.11 51.68 8.22M
Union Pacific UNP 37.80 40.31 37.75 39.89 7.15M
Berkshire Hathaway BRK.B 2303.00 2568.00 2303.00 2552.50 62K
Exchange Rates of February 24, 2009
CurrenciesExchange Rates
US Dollar Japanese Yen 1 USD = 96.640 JPY 1 JPY = 0.010 USD
US Dollar Canadian Dollar 1 USD = 1.243 CAD 1 CAD = 0.805 USD
US Dollar Swiss Franc 1 USD = 1.160 CHF 1 CHF = 0.862 USD
US Dollar Chinese Yuan 1 USD = 6.838 CNY 1 CNY = 0.146 USD
Euro Japanese Yen 1 EUR = 124.090 JPY 1 JPY = 0.008 EUR
Euro Pound Sterling 1 EUR = 0.887 GBP 1 GBP = 1.128 EUR
Euro Australian Dollar 1 EUR = 1.972 AUD 1 AUD = 0.507 EUR
Euro Canadian Dollar 1 EUR = 1.596 CAD 1 CAD = 0.627 EUR
Euro Swiss Franc 1 EUR = 1.490 CHF 1 CHF = 0.671 EUR
Euro Chinese Yuan 1 EUR = 8.780 CNY 1 CNY = 0.114 EUR
Japanese Yen Pound Sterling 1 JPY = 0.714 GBP 1 GBP = 1.400 JPY
Japanese Yen Australian Dollar 1 JPY = 1.588 AUD 1 AUD = 0.630 JPY
Japanese Yen Canadian Dollar 1 JPY = 1.285 CAD 1 CAD = 0.778 JPY
Japanese Yen Swiss Franc 1 JPY = 1.200 CHF 1 CHF = 0.833 JPY
Pound Sterling Australian Dollar 1 GBP = 2.224 AUD 1 AUD = 0.450 GBP
Pound Sterling Canadian Dollar 1 GBP = 1.799 CAD 1 CAD = 0.556 GBP
Pound Sterling Swiss Franc 1 GBP = 1.680 CHF 1 CHF = 0.595 GBP
Pound Sterling Chinese Yuan 1 GBP = 9.888 CNY 1 CNY = 0.101 GBP
Australian Dollar Canadian Dollar 1 AUD = 0.809 CAD 1 CAD = 1.237 AUD
Australian Dollar Swiss Franc 1 AUD = 0.755 CHF 1 CHF = 1.324 AUD
Australian Dollar Chinese Yuan 1 AUD = 4.447 CNY 1 CNY = 0.225 AUD
Canadian Dollar Swiss Franc 1 CAD = 0.933 CHF 1 CHF = 1.072 CAD
Canadian Dollar Chinese Yuan 1 CAD = 5.503 CNY 1 CNY = 0.182 CAD
Swiss Franc Chinese Yuan 1 CHF = 5.892 CNY 1 CNY = 0.170 CHF

See what else happened on February 24, 2009