Financial news on August 27, 2008

Business and Financial news
Agency’s Head Expects Banking’s Crisis to Worsen

The Federal Deposit Insurance Corporation warned that the nation’s ailing banking industry was likely to weaken further and raised the number of “problem” lenders. Read more..

By ERIC DASH and GERALDINE FABRIKANT - The New York Times

At Disney, Blu-ray Sales Team Is a Cast of Characters

Disney has put together a marketing campaign using Pinocchio and Snow White to accelerate consumer adoption of next-generation DVD technology and boost sales. Read more..

By BROOKS BARNES - The New York Times

China’s Promise Excites the Sports Stars

The Olympics’ star athletes are hoping to cash in on Chinas’s boom in sports marketing and sponsorship deals. Read more..

By DAVID BARBOZA - The New York Times

Cities Debate Privatizing Public Infrastructure

Governments are overcoming their wariness of private funds as they struggle to finance public improvements. Read more..

By JENNY ANDERSON - The New York Times

Data Points to Downturn in Germany, With a Ripple Effect Feared

The odds of a mild recession in Germany rose significantly Tuesday, as data showed the outlook for business had plunged to its lowest level since a downturn in 1993. Read more..

By CARTER DOUGHERTY - The New York Times

Europeans Retreat on Venture Investing

European venture capitalists are investing less money in fewer companies, mirroring a trend seen in financing for American start-ups. Read more..

By CLAIRE CAIN MILLER - The New York Times

Fear of Defaults After a Flurry of Apartment House Sales

The recent disclosure that the owners of Riverton Houses, a 1,228-unit apartment complex in Harlem, might default on their loan has shocked the real estate industry. Read more..

By TERRY PRISTIN - The New York Times

Fed Hints It Will Raise Benchmark Interest Rate

The rate would be raised in an effort to slow inflation, but Fed policy makers have not agreed to a timetable for the move, documents show. Read more..

By MICHAEL M. GRYNBAUM - The New York Times

Home Prices Still Falling, but the Pace Is Slowing

Prices fell again in June, but a separate report showed that more Americans bought new homes in July. Read more..

By MICHAEL M. GRYNBAUM - The New York Times

Profits Decline at Two Canadian Banks

Bank of Montreal and Bank of Nova Scotia, the first Canadian banks to report third-quarter earnings, said profits declined on rising loan losses. Read more..

By BLOOMBERG NEWS - The New York Times

Stock Markets

Values are reported in US Dollars

Stock Ticker symbol Open High Low Close Volume
Intel INTC 23.10 23.58 23.02 23.41 39.2M
Pfizer PFE 19.20 19.25 18.95 19.08 36.4M
Microsoft MSFT 27.34 27.79 27.13 27.56 34M
General Electric GE 28.27 28.59 28.06 28.22 33.4M
Cisco Systems CSCO 24.24 24.59 24.15 24.37 28.4M
Wells Fargo & Co. WFC 28.73 29.14 28.38 28.91 25.9M
JPMorgan Chase JPM 36.55 37.22 35.87 37.14 23.8M
Oracle Corp. ORCL 22.20 22.57 22.13 22.34 21.4M
ExxonMobil XOM 80.67 81.28 80.00 80.47 20.4M
Bristol-Myers Squibb BMY 21.54 21.86 21.01 21.52 19.2M
AT&T Inc. T 30.71 31.38 30.50 31.20 18.9M
Apple AAPL 173.31 175.76 172.19 174.67 17.1M
HP Inc. HPQ 46.65 47.22 46.55 46.80 13.6M
Home Depot HD 27.02 27.48 26.60 27.17 13.1M
Comcast CMCSA 21.18 21.61 21.01 21.28 12.4M
Wal-Mart Stores WMT 58.99 59.86 58.48 59.29 11.7M
ConocoPhillips COP 83.24 84.25 82.86 83.47 11M
Verizon Communications VZ 34.30 34.88 34.05 34.71 10.2M
Schlumberger SLB 98.89 99.32 97.13 98.52 8.77M
Alphabet GOOGL 473.73 474.83 464.84 468.58 8.77M
Altria MO 20.76 20.89 20.53 20.62 8.42M
Johnson & Johnson JNJ 70.72 71.39 70.31 71.21 8.4M
Amgen AMGN 63.94 64.00 62.24 63.71 8.35M
Procter & Gamble PG 69.68 70.24 69.38 70.06 8.31M
Chevron CVX 86.73 87.00 85.81 86.62 8.23M
Merck MRK 35.42 35.87 35.01 35.73 8M
Walt Disney & Co. DIS 31.46 32.10 31.41 31.76 7.32M
Coca-Cola KO 53.59 54.01 53.22 53.79 6.8M
Abbott Laboratories ABT 57.56 58.01 57.30 57.72 6.65M
International Business Machines IBM 122.42 124.85 122.18 123.38 5.84M
UnitedHealth Group UNH 29.45 29.86 28.82 29.43 5.64M
Amazon AMZN 81.44 82.74 81.00 81.73 5.63M
McDonald's MCD 62.59 62.59 61.37 62.08 4.89M
Visa V 73.03 74.50 72.85 74.45 4.79M
Gilead Sciences GILD 53.93 54.20 53.30 53.75 4.77M
Boeing BA 63.57 65.20 63.20 64.52 4.03M
United Technologies UTX 64.86 65.30 64.50 65.05 3.68M
3M MMM 70.69 71.22 70.13 70.72 3.48M
Union Pacific UNP 81.40 82.41 79.91 82.17 3.44M
Pepsico PEP 68.58 69.21 68.26 69.20 2.96M
Berkshire Hathaway BRK.B 3800.00 3888.00 3800.00 3855.00 17.9K
Exchange Rates of August 27, 2008
CurrenciesExchange Rates
US Dollar Japanese Yen 1 USD = 109.520 JPY 1 JPY = 0.009 USD
US Dollar Canadian Dollar 1 USD = 1.047 CAD 1 CAD = 0.955 USD
US Dollar Swiss Franc 1 USD = 1.097 CHF 1 CHF = 0.911 USD
US Dollar Chinese Yuan 1 USD = 6.838 CNY 1 CNY = 0.146 USD
Euro Japanese Yen 1 EUR = 161.190 JPY 1 JPY = 0.006 EUR
Euro Pound Sterling 1 EUR = 0.802 GBP 1 GBP = 1.247 EUR
Euro Australian Dollar 1 EUR = 1.715 AUD 1 AUD = 0.583 EUR
Euro Canadian Dollar 1 EUR = 1.541 CAD 1 CAD = 0.649 EUR
Euro Swiss Franc 1 EUR = 1.615 CHF 1 CHF = 0.619 EUR
Japanese Yen Pound Sterling 1 JPY = 0.497 GBP 1 GBP = 2.011 JPY
Japanese Yen Australian Dollar 1 JPY = 1.064 AUD 1 AUD = 0.940 JPY
Japanese Yen Canadian Dollar 1 JPY = 0.956 CAD 1 CAD = 1.046 JPY
Japanese Yen Swiss Franc 1 JPY = 1.002 CHF 1 CHF = 0.998 JPY
Pound Sterling Australian Dollar 1 GBP = 2.138 AUD 1 AUD = 0.468 GBP
Pound Sterling Canadian Dollar 1 GBP = 1.921 CAD 1 CAD = 0.521 GBP
Pound Sterling Swiss Franc 1 GBP = 2.013 CHF 1 CHF = 0.497 GBP
Australian Dollar Canadian Dollar 1 AUD = 0.898 CAD 1 CAD = 1.114 AUD
Australian Dollar Swiss Franc 1 AUD = 0.941 CHF 1 CHF = 1.062 AUD
Canadian Dollar Swiss Franc 1 CAD = 1.048 CHF 1 CHF = 0.954 CAD

See what else happened on August 27, 2008