Financial news on July 30th, 2008

Business and Financial news
A Deal at Merrill Puts Spotlight on Others

The fire sale of mortgage investments at Merrill Lynch raises a troubling question for the nation’s financial industry: Have other banks with similar investments overestimated their values? Read more..

By LOUISE STORY - The New York Times

At Kennedy, Shopping and Dining, Followed by a Takeoff

The retailing mix at Kennedy International Airport is changing, with more new and unexpected offerings and more restaurants than ever. Read more..

By JANE L. LEVERE - The New York Times

Canadian Mine Operator Bids to Buy Coal Producer

Teck Cominco, a major Canadian mining company, made a $14.4 billion bid for Fording Canadian Coal Trust, a producer of high-value coal used to make steel. Read more..

By IAN AUSTEN - The New York Times

In Providence, Progress in Reviving an Urban Desert

A developer is creating a $300 million mixed-use development on 18.5 acres on the Woonasquatucket River, about a mile from downtown in Providence, R.I. Read more..

By ELIZABETH ABBOTT - The New York Times

Only a Game? A Fight Over Scrabble Has Web Fans Fuming

The Calcutta-based brothers who developed Scrabulous bowed to legal pressure and barred North American users from playing the game on Facebook. Read more..

By HEATHER TIMMONS - The New York Times

Patricof Congratulates Icahn (No, Not Really)

Alan Patricof took aim at Carl C. Icahn in a tongue-in-cheek post relating to Mr. Icahn’s recent deal with Yahoo to join the Internet giant’s board. Read more..

By DEALBOOK - The New York Times

Restaurant Chains Close as Diners Reduce Spending

Soaring food costs and a surfeit of locations have hurt the casual dining sector’s bottom lines just as Americans are choosing to take more meals at home. Read more..

By MICHAEL M. GRYNBAUM - The New York Times

Union of Whole Foods and Wild Oats Is Put in Doubt

The marriage between Whole Foods Market and Wild Oats Markets was thrown into doubt again by a federal appeals court. Read more..

By ANDREW MARTIN - The New York Times

U.S. Won’t Release Land in Conservation Program

Despite pressure, the Department of Agriculture said it would not waive penalties for farmers who decide to plant crops on land set aside for conservation. Read more..

By ANDREW MARTIN - The New York Times

Weak Ad Revenue From Cable Channels Weighs on Viacom

Viacom said that advertising revenue at its cable channels had been lower than expected in the second quarter. Read more..

By TIM ARANGO - The New York Times

Stock Markets

Values are reported in US Dollars

StockTicker symbolOpenHighLowCloseVolume
Wells Fargo & Co.WFC31.0031.5029.8731.2065.7M
General ElectricGE28.7329.3528.5628.9755.4M
Cisco SystemsCSCO22.5922.6921.8022.1752.6M
JPMorgan ChaseJPM41.4142.0739.9741.5748M
Oracle Corp.ORCL21.3721.4520.9721.3131.7M
AT&T Inc.T30.9231.0930.5330.9123.7M
Abbott LaboratoriesABT56.1057.6955.7756.8519.9M
Wal-Mart StoresWMT57.6159.0057.6158.5619.4M
Home DepotHD24.7025.0023.3023.7419.3M
Walt Disney & Co.DIS31.2431.7730.8931.6718.2M
HP Inc.HPQ44.4945.1744.2545.0616M
Verizon CommunicationsVZ34.2534.4933.8634.3414.6M
Procter & GamblePG65.4366.7665.4366.5713.6M
Johnson & JohnsonJNJ68.7068.7067.7168.0813.5M
UnitedHealth GroupUNH27.6527.9326.6927.2810.5M
Bristol-Myers SquibbBMY21.5921.8021.1821.519.95M
Gilead SciencesGILD53.9654.5953.0053.918.1M
Union PacificUNP81.3683.9181.1383.258.09M
International Business MachinesIBM128.12129.00127.09128.865.83M
United TechnologiesUTX65.6466.6265.3866.255.7M
Berkshire HathawayBRK.B3733.003805.003705.003805.0044.8K
Exchange Rates of July 30th, 2008
CurrenciesExchange Rates
US DollarJapanese Yen1 USD = 108.070 JPY1 JPY = 0.009 USD
US DollarCanadian Dollar1 USD = 1.023 CAD1 CAD = 0.978 USD
US DollarSwiss Franc1 USD = 1.048 CHF1 CHF = 0.954 USD
US DollarChinese Yuan1 USD = 6.827 CNY1 CNY = 0.146 USD
EuroJapanese Yen1 EUR = 168.340 JPY1 JPY = 0.006 EUR
EuroPound Sterling1 EUR = 0.786 GBP1 GBP = 1.272 EUR
EuroAustralian Dollar1 EUR = 1.649 AUD1 AUD = 0.606 EUR
EuroCanadian Dollar1 EUR = 1.593 CAD1 CAD = 0.628 EUR
EuroSwiss Franc1 EUR = 1.633 CHF1 CHF = 0.612 EUR
Japanese YenPound Sterling1 JPY = 0.467 GBP1 GBP = 2.143 JPY
Japanese YenAustralian Dollar1 JPY = 0.979 AUD1 AUD = 1.021 JPY
Japanese YenCanadian Dollar1 JPY = 0.946 CAD1 CAD = 1.057 JPY
Japanese YenSwiss Franc1 JPY = 0.970 CHF1 CHF = 1.031 JPY
Pound SterlingAustralian Dollar1 GBP = 2.098 AUD1 AUD = 0.477 GBP
Pound SterlingCanadian Dollar1 GBP = 2.027 CAD1 CAD = 0.493 GBP
Pound SterlingSwiss Franc1 GBP = 2.077 CHF1 CHF = 0.482 GBP
Australian DollarCanadian Dollar1 AUD = 0.966 CAD1 CAD = 1.036 AUD
Australian DollarSwiss Franc1 AUD = 0.990 CHF1 CHF = 1.011 AUD
Canadian DollarSwiss Franc1 CAD = 1.024 CHF1 CHF = 0.976 CAD

See what else happened on July 30th, 2008