Financial news on March 28th, 2008

Business and Financial news
A British Fund Says It Will Close

Pentagon Capital Management, a £1 billion ($2 billion) hedge fund, said it would return investors’ money because of an investigation by the S.E.C. Read more..

By BLOOMBERG NEWS - The New York Times

Canada: Agency Puts Conditions on Phone Buyout

Canadian communications regulators approved the 51.7 billion Canadian dollar ($50.9 billion) buyout of BCE, the country’s biggest phone provider, and set conditions that require the carrier to remain Canadian controlled. One of the six criteria re... Read more..

By BLOOMBERG NEWS - The New York Times

Fed Hearings on Countrywide Deal

The Federal Reserve announced Thursday that it would hold public meetings next month on the offer by Bank of America to acquire Countrywide Financial. Read more..

By DOW JONES - The New York Times

For Americans, a Bit of the Swagger Is Gone

Losses of confidence in America’s economy have occurred before, but renewal can take time when fear is self-fulfilling as businesses and consumers cut back. Read more..

By FLOYD NORRIS - The New York Times

Harvard’s $34.9 Billion Endowment Makes Its Choice for New Chief

The Harvard Management Company appointed Jane Mendillo, the chief investment officer at Wellesley College, as its president and chief executive on Thursday. Read more..


Helping the Help Desk, the Intel Way

A campaign that is scheduled to begin on Monday presents the Intel Corporation as the problem-solver for the people who solve the computer network problems for others. Read more..

By STUART ELLIOTT - The New York Times

J.C. Penney Warns of a Spending Downturn

The retailer slashed its earnings forecast for the first three months of the year by 33 percent, blaming an outright drop in consumer spending that bodes poorly for competitors. Read more..

By MICHAEL BARBARO - The New York Times

Newspaper Says Article on Rapper Was False

The Los Angeles Times acknowledged on Thursday that it had relied on apparently forged documents for its investigation into an assault on the rapper Tupac Shakur. Read more..

By RICHARD PÉREZ-PEÑA - The New York Times

Odd Crop Prices Defy Economics

Economists note there should not be two prices for one thing at the same place and time. But, in effect, that has been happening in trading that sets prices for corn, soybeans and wheat. Read more..

By DIANA B. HENRIQUES - The New York Times

Stock Markets

Values are reported in US Dollars

StockTicker symbolOpenHighLowCloseVolume
Cisco SystemsCSCO24,2824,5824,0024,0846.5M
Oracle Corp.ORCL19,5519,8619,3219,3738.1M
General ElectricGE36,8937,0636,5136,6134.3M
JPMorgan ChaseJPM43,2443,8442,6542,7129M
Wells Fargo & Co.WFC30,2030,5229,2129,3528.9M
AT&T Inc.T37,9438,3937,5637,6617.3M
Home DepotHD27,7127,8727,2827,3815.8M
Wal-Mart StoresWMT52,1052,6751,7752,1215M
Verizon CommunicationsVZ36,0536,3735,8235,8511.1M
Walt Disney & Co.DIS31,5431,7831,0031,0011M
HP Inc.HPQ46,9547,2045,9346,0910.2M
Abbott LaboratoriesABT53,7154,2152,9553,0710.1M
Bristol-Myers SquibbBMY21,4421,7421,4021,4810.1M
Johnson & JohnsonJNJ64,8465,0064,0664,188.76M
UnitedHealth GroupUNH34,2434,6033,9034,408.05M
Procter & GamblePG69,5570,0469,3769,447.43M
International Business MachinesIBM116,01116,75114,21114,576.6M
Gilead SciencesGILD50,7050,8149,4449,616.5M
United TechnologiesUTX69,7470,2468,3468,554.84M
Union PacificUNP125,18126,93124,65125,021.5M
Berkshire HathawayBRK.B4370,004463,004365,004452,0018.1K
Exchange Rates of March 28th, 2008
CurrenciesExchange Rates
US DollarJapanese Yen1 USD = 99,190 JPY1 JPY = 0,010 USD
US DollarCanadian Dollar1 USD = 1,022 CAD1 CAD = 0,978 USD
US DollarSwiss Franc1 USD = 0,995 CHF1 CHF = 1,005 USD
US DollarChinese Yuan1 USD = 7,012 CNY1 CNY = 0,143 USD
EuroJapanese Yen1 EUR = 156,710 JPY1 JPY = 0,006 EUR
EuroPound Sterling1 EUR = 0,792 GBP1 GBP = 1,263 EUR
EuroAustralian Dollar1 EUR = 1,722 AUD1 AUD = 0,581 EUR
EuroCanadian Dollar1 EUR = 1,615 CAD1 CAD = 0,619 EUR
EuroSwiss Franc1 EUR = 1,572 CHF1 CHF = 0,636 EUR
Japanese YenPound Sterling1 JPY = 0,505 GBP1 GBP = 1,979 JPY
Japanese YenAustralian Dollar1 JPY = 1,098 AUD1 AUD = 0,911 JPY
Japanese YenCanadian Dollar1 JPY = 1,030 CAD1 CAD = 0,971 JPY
Japanese YenSwiss Franc1 JPY = 1,003 CHF1 CHF = 0,997 JPY
Pound SterlingAustralian Dollar1 GBP = 2,174 AUD1 AUD = 0,460 GBP
Pound SterlingCanadian Dollar1 GBP = 2,039 CAD1 CAD = 0,490 GBP
Pound SterlingSwiss Franc1 GBP = 1,985 CHF1 CHF = 0,504 GBP
Australian DollarCanadian Dollar1 AUD = 0,937 CAD1 CAD = 1,067 AUD
Australian DollarSwiss Franc1 AUD = 0,913 CHF1 CHF = 1,096 AUD
Canadian DollarSwiss Franc1 CAD = 0,973 CHF1 CHF = 1,027 CAD

See what else happened on March 28th, 2008