Financial news on July 29th, 2008

Business and Financial news
A New Way to Generate Mortgages

Regulators, bankers and traders, led by Treasury Secretary Henry M. Paulson Jr., all pledged to do their best to get a “covered bond market” going in the U.S. Read more..

By FLOYD NORRIS - The New York Times

Clearing Up a Blurry Work Life

Gina Trapani, an expert on navigating the demands and complexities of modern technology, discusses how to be more productive at work. Read more..

By MARCI ALBOHER - The New York Times

Ex-Manager at Siemens Is Convicted in Bribe Case

A German court convicted a former manager at Siemens of misuse of funds in the first verdict stemming from a bribery scandal at the company. Read more..

By CARTER DOUGHERTY - The New York Times

Lax Lending Standards Led to IndyMac’s Downfall

The collapse of IndyMac, one of the nation’s largest mortgage lenders, was the most vivid example to date of the dangers confronting banks and their investors. Read more..

By VIKAS BAJAJ - The New York Times

New Brand Logos Reflect Shift at G.M.

Opel and Vauxhall, General Motors’ biggest-selling brands in Europe, are getting new logos that aim to “send a message that something is happening with these brands.” Read more..

By ERIC PFANNER - The New York Times

Write-Down Is Planned at Merrill

Merrill Lynch said it expected to take a $5.7 billion write-down because of losses on its mortgage assets. Read more..

By LOUISE STORY - The New York Times

Stock Markets

Values are reported in US Dollars

StockTicker symbolOpenHighLowCloseVolume
Wells Fargo & Co.WFC28.1730.4627.7330.4662.3M
JPMorgan ChaseJPM37.9440.7537.1840.7550.5M
General ElectricGE27.7828.4027.7528.4045.7M
Cisco SystemsCSCO22.1922.5222.0722.4243.1M
Oracle Corp.ORCL20.8521.5720.8421.4331.8M
AT&T Inc.T30.6831.1030.5630.7028.9M
Bristol-Myers SquibbBMY21.9422.1121.0221.5320.6M
Abbott LaboratoriesABT56.9257.0955.6655.9419M
Wal-Mart StoresWMT56.4057.5056.0957.4517.7M
HP Inc.HPQ43.2244.5043.0244.1316.9M
Verizon CommunicationsVZ33.7934.4233.6934.1316.6M
Procter & GamblePG63.9565.6163.8065.5416.5M
Home DepotHD23.3024.4423.2424.3315.5M
Walt Disney & Co.DIS30.6031.1230.4130.9213.3M
Johnson & JohnsonJNJ68.5569.0068.3068.4813M
UnitedHealth GroupUNH26.8527.6626.6227.537.62M
Gilead SciencesGILD53.6154.0553.1753.987.61M
Union PacificUNP76.8481.2176.0281.016.78M
International Business MachinesIBM126.54128.17126.25127.665.98M
United TechnologiesUTX64.0465.6364.0065.525.7M
Berkshire HathawayBRK.B3750.003750.003707.003715.0023.1K
Exchange Rates of July 29th, 2008
CurrenciesExchange Rates
US DollarJapanese Yen1 USD = 108.150 JPY1 JPY = 0.009 USD
US DollarCanadian Dollar1 USD = 1.024 CAD1 CAD = 0.977 USD
US DollarSwiss Franc1 USD = 1.047 CHF1 CHF = 0.955 USD
US DollarChinese Yuan1 USD = 6.826 CNY1 CNY = 0.147 USD
EuroJapanese Yen1 EUR = 168.550 JPY1 JPY = 0.006 EUR
EuroPound Sterling1 EUR = 0.787 GBP1 GBP = 1.271 EUR
EuroAustralian Dollar1 EUR = 1.636 AUD1 AUD = 0.611 EUR
EuroCanadian Dollar1 EUR = 1.595 CAD1 CAD = 0.627 EUR
EuroSwiss Franc1 EUR = 1.631 CHF1 CHF = 0.613 EUR
Japanese YenPound Sterling1 JPY = 0.467 GBP1 GBP = 2.143 JPY
Japanese YenAustralian Dollar1 JPY = 0.970 AUD1 AUD = 1.031 JPY
Japanese YenCanadian Dollar1 JPY = 0.946 CAD1 CAD = 1.057 JPY
Japanese YenSwiss Franc1 JPY = 0.968 CHF1 CHF = 1.034 JPY
Pound SterlingAustralian Dollar1 GBP = 2.079 AUD1 AUD = 0.481 GBP
Pound SterlingCanadian Dollar1 GBP = 2.027 CAD1 CAD = 0.493 GBP
Pound SterlingSwiss Franc1 GBP = 2.072 CHF1 CHF = 0.483 GBP
Australian DollarCanadian Dollar1 AUD = 0.975 CAD1 CAD = 1.026 AUD
Australian DollarSwiss Franc1 AUD = 0.996 CHF1 CHF = 1.004 AUD
Canadian DollarSwiss Franc1 CAD = 1.022 CHF1 CHF = 0.978 CAD

See what else happened on July 29th, 2008