Financial news on November 28th, 2007

Business and Financial news
As Rents Go Up, Some Offices Go South

The area stretching north from Canal Street to about 34th Street is attracting a growing number of media, communications and entertainment companies with low rents and large spaces. Read more..

By ALISON GREGOR - The New York Times

Bracing for Home Loan Losses, Wells Fargo to Take Big Charge

The nation’s second-largest mortgage lender said Tuesday that it would take a $1.4 billion fourth-quarter charge for losses it anticipated in connection with home loans. Read more..


How the Job Churn Numbers Are Counted

The numbers on job churning compiled by the Bureau of Labor Statistics are based on a quarterly canvass of work sites across the country. Read more..

By DAVID LEONHARDT - The New York Times

J. Robert Cade, the Inventor of Gatorade, Dies at 80

Dr. Cade mixed water, sugar, salt and cunning dashes of whatever to invent Gatorade, which is now guzzled daily by electrolyte-depleted athletes, post-operative patients and the simply thirsty. Read more..

By DOUGLAS MARTIN - The New York Times

New Method for Making Diesel Fuel Uses Vegetable Oils

A Portuguese oil company, Galp Energia, plans to announce that it is building a 6,500-barrel-a-day plant to make diesel fuel from vegetable oils using a method akin to refining oil. Read more..

By MATTHEW L. WALD - The New York Times

Oil Producers See the World and Buy It Up

Flush with petrodollars, oil-producing countries have begun a global shopping spree that could increase rapidly. Read more..

By STEVEN R. WEISMAN - The New York Times

Porsche to Wait Until Holidays End to Take Over Volkswagen

Porsche will not move to take over Volkswagen before Dec. 25, but its chief executive refused to say whether Volkswagen would remain an independent carmaker in 2008. Read more..

By MARK LANDLER - The New York Times

Screenwriters and Producers Set 4th Day of Talks

Striking screenwriters and Hollywood producers agreed to extend their renewed contract talks to a fourth day. Read more..

By MICHAEL CIEPLY - The New York Times

South Korean Leader Allows Inquiry Into Samsung Bribes

President Roh Moo-hyun of South Korea agreed to an independent investigation into a scandal that includes accusations that he may have accepted bribes from the Samsung Group. Read more..

By CHOE SANG-HUN - The New York Times

Verizon Plans Wider Options for Cellphone Users

Verizon Wireless plans to give customers more choice in what phones they can use on its network. Read more..

By LAURA M. HOLSON - The New York Times

Stock Markets

Values are reported in US Dollars

StockTicker symbolOpenHighLowCloseVolume
Cisco SystemsCSCO27,9028,4427,8028,0571.6M
Wells Fargo & Co.WFC30,0031,6429,9930,7254.7M
General ElectricGE37,6538,6637,5638,4651.9M
AT&T Inc.T37,4837,6637,0737,5041.4M
JPMorgan ChaseJPM42,7344,1342,5643,9632.2M
Wal-Mart StoresWMT46,0847,5246,0047,2328.6M
Oracle Corp.ORCL20,0820,6220,0120,5128.5M
Home DepotHD27,3028,4927,0728,2724.3M
Bristol-Myers SquibbBMY28,3129,2228,1429,1318.7M
HP Inc.HPQ49,1751,0048,8850,7317M
Johnson & JohnsonJNJ67,8968,4867,0668,3515.2M
Verizon CommunicationsVZ41,7542,6841,2942,4114M
Procter & GamblePG72,9974,0472,5273,9113.6M
Abbott LaboratoriesABT55,7556,5055,2356,4213.6M
Walt Disney & Co.DIS31,8932,9631,6732,6912.8M
International Business MachinesIBM104,82108,27104,36107,379.4M
UnitedHealth GroupUNH54,5954,8053,6654,728.77M
Gilead SciencesGILD45,0845,8944,5445,837.97M
United TechnologiesUTX74,7176,2674,0975,855.75M
Union PacificUNP125,10127,40125,00126,892.85M
Berkshire HathawayBRK.B4574,004622,004574,004575,0032K
Exchange Rates of November 28th, 2007
CurrenciesExchange Rates
US DollarJapanese Yen1 USD = 110,030 JPY1 JPY = 0,009 USD
US DollarCanadian Dollar1 USD = 0,985 CAD1 CAD = 1,015 USD
US DollarSwiss Franc1 USD = 1,111 CHF1 CHF = 0,900 USD
US DollarChinese Yuan1 USD = 7,395 CNY1 CNY = 0,135 USD
EuroJapanese Yen1 EUR = 163,300 JPY1 JPY = 0,006 EUR
EuroPound Sterling1 EUR = 0,713 GBP1 GBP = 1,404 EUR
EuroAustralian Dollar1 EUR = 1,668 AUD1 AUD = 0,600 EUR
EuroCanadian Dollar1 EUR = 1,462 CAD1 CAD = 0,684 EUR
EuroSwiss Franc1 EUR = 1,649 CHF1 CHF = 0,607 EUR
Japanese YenPound Sterling1 JPY = 0,436 GBP1 GBP = 2,293 JPY
Japanese YenAustralian Dollar1 JPY = 1,021 AUD1 AUD = 0,980 JPY
Japanese YenCanadian Dollar1 JPY = 0,895 CAD1 CAD = 1,117 JPY
Japanese YenSwiss Franc1 JPY = 1,009 CHF1 CHF = 0,991 JPY
Pound SterlingAustralian Dollar1 GBP = 2,341 AUD1 AUD = 0,427 GBP
Pound SterlingCanadian Dollar1 GBP = 2,052 CAD1 CAD = 0,487 GBP
Pound SterlingSwiss Franc1 GBP = 2,313 CHF1 CHF = 0,432 GBP
Australian DollarCanadian Dollar1 AUD = 0,876 CAD1 CAD = 1,142 AUD
Australian DollarSwiss Franc1 AUD = 0,988 CHF1 CHF = 1,012 AUD
Canadian DollarSwiss Franc1 CAD = 1,127 CHF1 CHF = 0,887 CAD

See what else happened on November 28th, 2007