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

Stock Ticker symbol Open High Low Close Volume
Cisco Systems CSCO 22.21 22.58 21.93 22.43 63.7M
Microsoft MSFT 25.66 26.22 25.50 26.16 58.7M
Wells Fargo & Co. WFC 29.33 30.01 28.51 29.09 55.5M
General Electric GE 28.95 29.23 28.35 28.71 48M
Pfizer PFE 18.89 18.95 18.72 18.89 42.8M
Intel INTC 21.80 22.08 21.56 22.01 40.2M
JPMorgan Chase JPM 39.17 40.44 38.48 39.52 35.2M
ExxonMobil XOM 81.01 82.41 80.76 81.70 27.6M
Oracle Corp. ORCL 20.97 20.98 20.64 20.95 22.9M
Apple AAPL 160.37 163.00 158.65 162.12 22.6M
Comcast CMCSA 19.98 19.98 19.49 19.62 21.9M
AT&T Inc. T 31.90 32.08 31.29 31.40 21.1M
Wal-Mart Stores WMT 57.10 57.60 56.58 56.83 16.5M
ConocoPhillips COP 81.98 83.39 80.33 81.98 14.8M
Home Depot HD 24.11 24.88 23.56 23.80 14.5M
Chevron CVX 82.05 83.97 81.90 82.56 14.4M
Merck MRK 32.37 33.00 32.36 32.68 13.8M
Verizon Communications VZ 35.06 35.41 34.10 34.45 13.7M
Walt Disney & Co. DIS 31.22 31.52 31.00 31.10 12.8M
HP Inc. HPQ 43.42 44.00 43.05 43.71 11.8M
UnitedHealth Group UNH 27.02 27.60 26.90 27.45 11.2M
Procter & Gamble PG 64.62 64.97 64.26 64.46 11M
Abbott Laboratories ABT 57.28 57.51 56.83 57.42 10.7M
Johnson & Johnson JNJ 68.88 69.21 68.56 69.03 10.5M
Altria MO 20.85 21.34 20.76 21.07 10.1M
Schlumberger SLB 99.96 100.96 97.72 98.96 9.9M
Amgen AMGN 53.76 54.24 53.38 53.92 9.82M
Visa V 70.54 72.35 69.07 71.96 9.67M
Bristol-Myers Squibb BMY 22.23 22.44 22.01 22.14 9.64M
Gilead Sciences GILD 53.08 54.74 52.63 54.51 9.38M
Pepsico PEP 67.75 67.94 66.73 67.22 9.28M
Boeing BA 63.00 64.14 62.34 63.83 9.17M
Amazon AMZN 79.70 80.94 78.12 78.31 9.15M
Coca-Cola KO 52.25 52.25 51.53 52.06 8.43M
McDonald's MCD 58.59 59.99 58.35 58.65 7.95M
International Business Machines IBM 129.00 129.90 128.00 128.53 7.57M
Alphabet GOOGL 486.96 493.13 481.50 491.98 6.36M
United Technologies UTX 64.39 65.29 64.37 65.23 5.08M
3M MMM 71.53 71.90 70.23 70.95 4.95M
Union Pacific UNP 77.74 78.98 75.81 77.49 3.33M
Berkshire Hathaway BRK.B 3860.00 3871.00 3750.00 3770.00 25.3K
Exchange Rates of July 25, 2008
CurrenciesExchange Rates
US Dollar Japanese Yen 1 USD = 107.820 JPY 1 JPY = 0.009 USD
US Dollar Canadian Dollar 1 USD = 1.020 CAD 1 CAD = 0.981 USD
US Dollar Swiss Franc 1 USD = 1.036 CHF 1 CHF = 0.965 USD
US Dollar Chinese Yuan 1 USD = 6.819 CNY 1 CNY = 0.147 USD
Euro Japanese Yen 1 EUR = 169.400 JPY 1 JPY = 0.006 EUR
Euro Pound Sterling 1 EUR = 0.789 GBP 1 GBP = 1.268 EUR
Euro Australian Dollar 1 EUR = 1.642 AUD 1 AUD = 0.609 EUR
Euro Canadian Dollar 1 EUR = 1.601 CAD 1 CAD = 0.624 EUR
Euro Swiss Franc 1 EUR = 1.628 CHF 1 CHF = 0.614 EUR
Japanese Yen Pound Sterling 1 JPY = 0.465 GBP 1 GBP = 2.149 JPY
Japanese Yen Australian Dollar 1 JPY = 0.969 AUD 1 AUD = 1.032 JPY
Japanese Yen Canadian Dollar 1 JPY = 0.945 CAD 1 CAD = 1.058 JPY
Japanese Yen Swiss Franc 1 JPY = 0.961 CHF 1 CHF = 1.041 JPY
Pound Sterling Australian Dollar 1 GBP = 2.083 AUD 1 AUD = 0.480 GBP
Pound Sterling Canadian Dollar 1 GBP = 2.030 CAD 1 CAD = 0.493 GBP
Pound Sterling Swiss Franc 1 GBP = 2.063 CHF 1 CHF = 0.485 GBP
Australian Dollar Canadian Dollar 1 AUD = 0.974 CAD 1 CAD = 1.026 AUD
Australian Dollar Swiss Franc 1 AUD = 0.991 CHF 1 CHF = 1.010 AUD
Canadian Dollar Swiss Franc 1 CAD = 1.016 CHF 1 CHF = 0.984 CAD

See what else happened on July 25, 2008