Financial news on July 25, 2008

Business and Financial news
After Facing Scrutiny, Commodities Trading Accepts Regulations

Congress has hurled vitriol at the IntercontinentalExchange, but its founder views the business as one of the country’s “most regulated commodity exchanges.” Read more..

By DIANA B. HENRIQUES - The New York Times

At Troubled UBS, a Homecoming of Sorts

Luqman Arnold, who accumulated a 2.5 percent stake in UBS, wants to repair UBS corporate governance by removing what he called “insiders” from the board of directors. Read more..

By JULIA WERDIGIER - The New York Times

Change in Arbitration Panels Will Allow Investors Only

Investors who think they have been wronged by brokers will be able to have their cases heard by panels consisting only of their peers, with no industry participants. Read more..

By GRETCHEN MORGENSON - The New York Times

Denied Visa, Chief of BP Joint Venture Is Forced to Leave Russia

The development is the latest twist in a rising nationalism that is shutting Western oil companies out of energy-rich regions and has wide implications for BP. Read more..

By ANDREW E. KRAMER - The New York Times

Home Sales and Bank Worries Send Stocks Down

Disappointing June home sales and new worries about banks dragged the Dow Jones industrial average down 283.10 points, or 2.43 percent, its worst loss in a month. Read more..

By MICHAEL M. GRYNBAUM - The New York Times

Merger of XM and Sirius a Step Closer to Approval

The F.C.C was set to approve a merger between XM and Sirius and end a nearly 18-month review of a deal that would essentially create a monopoly in satellite radio. Read more..

By TIM ARANGO - The New York Times

New York Sues UBS for Securities Fraud

New York attorney general Andrew Cuomo announced a case against Swiss banking giant UBS over its conduct in the auction-rate securities market. Read more..

By LOUISE STORY - The New York Times

Regulators Say Company Manipulated Oil Market

A Dutch company is accused of making about $1 million in illegal profits by manipulating oil prices last year. Read more..

By DIANA B. HENRIQUES - The New York Times

Senate Asks 9 Insurers to Furnish Information

The Senate is investigating whether insurance companies are forcing able-bodied people to apply for Social Security disability benefits. Read more..

By MARY WILLIAMS WALSH - The New York Times

Warnings From Daimler and Renault

In another sign of stress for automakers, Daimler and Renault reduced their outlooks in the face of higher steel and oil prices and an economic slowdown. Read more..

By DAVID JOLLY - The New York Times

Stock Markets

Values are reported in US Dollars

StockTicker symbolOpenHighLowCloseVolume
Cisco SystemsCSCO22.2122.5821.9322.4363.7M
MicrosoftMSFT25.6626.2225.5026.1658.7M
Wells Fargo & Co.WFC29.3330.0128.5129.0955.5M
General ElectricGE28.9529.2328.3528.7148M
PfizerPFE18.8918.9518.7218.8942.8M
IntelINTC21.8022.0821.5622.0140.2M
JPMorgan ChaseJPM39.1740.4438.4839.5235.2M
ExxonMobilXOM81.0182.4180.7681.7027.6M
Oracle Corp.ORCL20.9720.9820.6420.9522.9M
AppleAAPL160.37163.00158.65162.1222.6M
ComcastCMCSA19.9819.9819.4919.6221.9M
AT&T Inc.T31.9032.0831.2931.4021.1M
Wal-Mart StoresWMT57.1057.6056.5856.8316.5M
ConocoPhillipsCOP81.9883.3980.3381.9814.8M
Home DepotHD24.1124.8823.5623.8014.5M
ChevronCVX82.0583.9781.9082.5614.4M
MerckMRK32.3733.0032.3632.6813.8M
Verizon CommunicationsVZ35.0635.4134.1034.4513.7M
Walt Disney & Co.DIS31.2231.5231.0031.1012.8M
HP Inc.HPQ43.4244.0043.0543.7111.8M
UnitedHealth GroupUNH27.0227.6026.9027.4511.2M
Procter & GamblePG64.6264.9764.2664.4611M
Abbott LaboratoriesABT57.2857.5156.8357.4210.7M
Johnson & JohnsonJNJ68.8869.2168.5669.0310.5M
AltriaMO20.8521.3420.7621.0710.1M
SchlumbergerSLB99.96100.9697.7298.969.9M
AmgenAMGN53.7654.2453.3853.929.82M
VisaV70.5472.3569.0771.969.67M
Bristol-Myers SquibbBMY22.2322.4422.0122.149.64M
Gilead SciencesGILD53.0854.7452.6354.519.38M
PepsicoPEP67.7567.9466.7367.229.28M
BoeingBA63.0064.1462.3463.839.17M
AmazonAMZN79.7080.9478.1278.319.15M
Coca-ColaKO52.2552.2551.5352.068.43M
McDonald'sMCD58.5959.9958.3558.657.95M
International Business MachinesIBM129.00129.90128.00128.537.57M
AlphabetGOOGL486.96493.13481.50491.986.36M
United TechnologiesUTX64.3965.2964.3765.235.08M
3MMMM71.5371.9070.2370.954.95M
Union PacificUNP77.7478.9875.8177.493.33M
Berkshire HathawayBRK.B3860.003871.003750.003770.0025.3K
Exchange Rates of July 25, 2008
CurrenciesExchange Rates
US DollarJapanese Yen1 USD = 107.820 JPY1 JPY = 0.009 USD
US DollarCanadian Dollar1 USD = 1.020 CAD1 CAD = 0.981 USD
US DollarSwiss Franc1 USD = 1.036 CHF1 CHF = 0.965 USD
US DollarChinese Yuan1 USD = 6.819 CNY1 CNY = 0.147 USD
EuroJapanese Yen1 EUR = 169.400 JPY1 JPY = 0.006 EUR
EuroPound Sterling1 EUR = 0.789 GBP1 GBP = 1.268 EUR
EuroAustralian Dollar1 EUR = 1.642 AUD1 AUD = 0.609 EUR
EuroCanadian Dollar1 EUR = 1.601 CAD1 CAD = 0.624 EUR
EuroSwiss Franc1 EUR = 1.628 CHF1 CHF = 0.614 EUR
Japanese YenPound Sterling1 JPY = 0.465 GBP1 GBP = 2.149 JPY
Japanese YenAustralian Dollar1 JPY = 0.969 AUD1 AUD = 1.032 JPY
Japanese YenCanadian Dollar1 JPY = 0.945 CAD1 CAD = 1.058 JPY
Japanese YenSwiss Franc1 JPY = 0.961 CHF1 CHF = 1.041 JPY
Pound SterlingAustralian Dollar1 GBP = 2.083 AUD1 AUD = 0.480 GBP
Pound SterlingCanadian Dollar1 GBP = 2.030 CAD1 CAD = 0.493 GBP
Pound SterlingSwiss Franc1 GBP = 2.063 CHF1 CHF = 0.485 GBP
Australian DollarCanadian Dollar1 AUD = 0.974 CAD1 CAD = 1.026 AUD
Australian DollarSwiss Franc1 AUD = 0.991 CHF1 CHF = 1.010 AUD
Canadian DollarSwiss Franc1 CAD = 1.016 CHF1 CHF = 0.984 CAD

See what else happened on July 25, 2008