Financial news on December 26th, 2008

Business and Financial news
After a Season of Cutting, Stores Sweeten Discounts

Analysts say consumers expecting even better deals after Christmas will not be disappointed, though they should expect more “bundling” from retailers. Read more..


Businesses See Opportunity in Empowering Women

Corporations like Goldman Sachs have begun to take more seriously the economic power of women, especially in emerging markets. Read more..

By ELIZABETH OLSON - The New York Times

China’s Financial Industry Recruits Abroad

Chinese institutions are taking advantage of the downturn and focusing on the newly unemployed to upgrade their own staffs. Read more..

By JIMMY WANG - The New York Times

Europe Examines Competition for Utilities in France

Électricité de France said it had been notified by the European Union’s competition authority of objections to the company’s long-term contracts in France. Read more..

By BLOOMBERG NEWS - The New York Times

French Unions Losing Influence in Downturn

Unions in France have been tamed by Nicolas Sarkozy, the president, and the economic crisis. Read more..

By KATRIN BENNHOLD - The New York Times

Ignominious Seven From 2008

Seven tales of financial wheezes people thought were a good idea during the preceding bull market. Read more..

By JOHN FOLEY - The New York Times

Infant Formula Company Is Declared Bankrupt

The Sanlu Group, the Chinese dairy company closed in September after it sold contaminated infant formula, has been declared bankrupt by a Chinese court. Read more..

By BLOOMBERG NEWS - The New York Times

Qualifying Tests for Chinese Financial Workers

In response to the global financial crisis, China has increased the number of qualification tests for workers in the financial sector. Read more..

By KEITH BRADSHER - The New York Times

Royal Philips Sheds Old Businesses for New Directions

The Dutch industrial giant is moving away from home electronics and toward the next generation of light bulbs and hospital scanning and monitoring equipment. Read more..

By ERIC A. TAUB - The New York Times

Solar Meets Polar as Winter Curbs Clean Energy

Many alternative energy sources like wind turbines and solar panels experience problems in cold weather. Read more..

By KATE GALBRAITH - The New York Times

Stock Markets

Values are reported in US Dollars

StockTicker symbolOpenHighLowCloseVolume
General ElectricGE16.0516.1315.7815.9729.7M
Cisco SystemsCSCO16.3616.4216.0916.2715.2M
JPMorgan ChaseJPM30.0530.2629.2529.8012.6M
Wells Fargo & Co.WFC27.5727.8627.1527.5112.4M
Oracle Corp.ORCL17.4017.4617.2617.439.5M
AT&T Inc.T27.9828.1327.7827.948.2M
Wal-Mart StoresWMT55.7055.7455.2055.356.37M
Bristol-Myers SquibbBMY23.3723.4023.0023.105.4M
Verizon CommunicationsVZ32.9633.3032.8833.195.19M
HP Inc.HPQ34.7135.1234.7134.974.48M
Home DepotHD23.6124.0023.4123.564.46M
Procter & GamblePG60.6061.0060.0960.534.46M
Johnson & JohnsonJNJ58.8459.3458.2058.564.25M
Abbott LaboratoriesABT52.8152.9352.1952.514.03M
International Business MachinesIBM80.9381.8080.5581.333.1M
Walt Disney & Co.DIS22.2922.4221.9622.183.07M
Gilead SciencesGILD50.3650.5149.7350.012.63M
UnitedHealth GroupUNH26.0826.4825.9926.302.11M
United TechnologiesUTX51.2251.5250.6151.131.98M
Union PacificUNP46.3346.9846.1746.971.4M
Berkshire HathawayBRK.B3112.003142.003080.003113.0010.4K
Exchange Rates of December 26th, 2008
CurrenciesExchange Rates
US DollarJapanese Yen1 USD = 90.750 JPY1 JPY = 0.011 USD
US DollarCanadian Dollar1 USD = 1.221 CAD1 CAD = 0.819 USD
US DollarSwiss Franc1 USD = 1.070 CHF1 CHF = 0.934 USD
US DollarChinese Yuan1 USD = 6.842 CNY1 CNY = 0.146 USD
EuroJapanese Yen1 EUR = 127.300 JPY1 JPY = 0.008 EUR
EuroPound Sterling1 EUR = 0.960 GBP1 GBP = 1.041 EUR
EuroAustralian Dollar1 EUR = 2.051 AUD1 AUD = 0.488 EUR
EuroCanadian Dollar1 EUR = 1.713 CAD1 CAD = 0.584 EUR
EuroSwiss Franc1 EUR = 1.501 CHF1 CHF = 0.666 EUR
EuroChinese Yuan1 EUR = 9.594 CNY1 CNY = 0.104 EUR
Japanese YenPound Sterling1 JPY = 0.754 GBP1 GBP = 1.326 JPY
Japanese YenAustralian Dollar1 JPY = 1.609 AUD1 AUD = 0.622 JPY
Japanese YenCanadian Dollar1 JPY = 1.345 CAD1 CAD = 0.743 JPY
Japanese YenSwiss Franc1 JPY = 1.179 CHF1 CHF = 0.848 JPY
Pound SterlingAustralian Dollar1 GBP = 2.134 AUD1 AUD = 0.469 GBP
Pound SterlingCanadian Dollar1 GBP = 1.783 CAD1 CAD = 0.561 GBP
Pound SterlingSwiss Franc1 GBP = 1.563 CHF1 CHF = 0.640 GBP
Pound SterlingChinese Yuan1 GBP = 9.974 CNY1 CNY = 0.100 GBP
Australian DollarCanadian Dollar1 AUD = 0.835 CAD1 CAD = 1.197 AUD
Australian DollarSwiss Franc1 AUD = 0.732 CHF1 CHF = 1.366 AUD
Australian DollarChinese Yuan1 AUD = 4.686 CNY1 CNY = 0.213 AUD
Canadian DollarSwiss Franc1 CAD = 0.876 CHF1 CHF = 1.142 CAD
Canadian DollarChinese Yuan1 CAD = 5.598 CNY1 CNY = 0.179 CAD
Swiss FrancChinese Yuan1 CHF = 6.389 CNY1 CNY = 0.157 CHF

See what else happened on December 26th, 2008