Financial news on August 31st, 2007

Business and Financial news
20/20 Hindsight Through What Were Once Rose-Colored Glasses

Some investments that banks made in hedge funds during boom times look rather questionable in hindsight. Read more..

By JENNY ANDERSON - The New York Times

Apple Bars New NBC Shows From iTunes

The dispute between Apple and NBC Universal over the pricing of video on iTunes grew more heated as Apple announced it would not add any new NBC shows to the online store’s inventory. Read more..

By BROOKS BARNES - The New York Times

Barclays Helps Rescue Debt Fund

Barclays, forced this week to deny reports of exposure to troubled debt products, said it helped rescue a $1.6 billion debt fund at a London-based asset management firm. Read more..

By JULIA WERDIGIER - The New York Times

Borrowing the Tricks of TV News to Set a Show Apart

Fox Broadcasting is sending fake news vans onto the streets of four cities to promote its new sitcom, “Back to You.” Read more..

By STUART ELLIOTT - The New York Times

Building a Modern Arsenal in India

India has a growing military appetite that is attracting American contractors seeking big arms deals. Read more..


Bush Plans Steps to Help Troubled Borrowers

President Bush will announce steps intended to help low-income families hit by the subprime mortgage crisis. Read more..

By STEVEN R. WEISMAN - The New York Times

China: Antimonopoly Law Approved

After 13 years of reviewing drafts, the National People’s Congress approved a law that bans price-fixing, collusion, excessive market concentration and other monopolistic practices by private and state-owned businesses alike. Read more..

By KEITH BRADSHER - The New York Times

Dell’s Earnings Rise, but Delays Hinder Recovery

Dell reported on Thursday that second-quarter earnings rose 46 percent, but production delays are preventing the company from growing as quickly as hoped. Read more..

By MATT RICHTEL - The New York Times

New Worries for Small Banks

Smaller banks find problems in some commercial real estate loans. Read more..

By FLOYD NORRIS - The New York Times

President of Standard & Poor’s Steps Down

Kathleen Corbet, president of the credit rating company Standard & Poor’s, resigned after lawmakers and investors criticized the company for failing to judge the risks of securities backed by subprime mortgages. Read more..

By BLOOMBERG NEWS - The New York Times

Stock Markets

Values are reported in US Dollars

StockTicker symbolOpenHighLowCloseVolume
Home DepotHD37,3638,5437,2238,3165.9M
Cisco SystemsCSCO31,8731,9831,6731,9239.1M
General ElectricGE38,8039,0938,4938,8737.4M
Oracle Corp.ORCL20,4220,4820,1520,2824.1M
Wal-Mart StoresWMT43,5543,9443,3543,6320.8M
HP Inc.HPQ48,9749,7248,6949,3517.9M
AT&T Inc.T40,1040,2939,4539,8717.2M
JPMorgan ChaseJPM45,0045,1344,2744,5216.9M
Wells Fargo & Co.WFC36,3836,7836,1036,5415.1M
Johnson & JohnsonJNJ61,9862,0761,6561,7913.4M
Verizon CommunicationsVZ42,3142,4541,6141,8810.4M
Abbott LaboratoriesABT51,5052,1151,1251,9110.3M
UnitedHealth GroupUNH49,3050,3049,0150,019.21M
Procter & GamblePG65,1365,6164,8865,318.39M
Bristol-Myers SquibbBMY29,1329,4628,7329,158.14M
Walt Disney & Co.DIS33,7433,8233,4533,607.08M
International Business MachinesIBM115,99117,35115,55116,696.88M
Gilead SciencesGILD36,5236,6835,9136,376.06M
United TechnologiesUTX74,4775,5074,3374,633.93M
Union PacificUNP109,28112,16108,65111,573.01M
Berkshire HathawayBRK.B3959,003965,003890,003890,0026K
Exchange Rates of August 31st, 2007
CurrenciesExchange Rates
US DollarJapanese Yen1 USD = 115,760 JPY1 JPY = 0,009 USD
US DollarCanadian Dollar1 USD = 1,056 CAD1 CAD = 0,947 USD
US DollarSwiss Franc1 USD = 1,209 CHF1 CHF = 0,827 USD
US DollarChinese Yuan1 USD = 7,545 CNY1 CNY = 0,133 USD
EuroJapanese Yen1 EUR = 157,770 JPY1 JPY = 0,006 EUR
EuroPound Sterling1 EUR = 0,676 GBP1 GBP = 1,480 EUR
EuroAustralian Dollar1 EUR = 1,666 AUD1 AUD = 0,600 EUR
EuroCanadian Dollar1 EUR = 1,438 CAD1 CAD = 0,695 EUR
EuroSwiss Franc1 EUR = 1,647 CHF1 CHF = 0,607 EUR
Japanese YenPound Sterling1 JPY = 0,428 GBP1 GBP = 2,337 JPY
Japanese YenAustralian Dollar1 JPY = 1,055 AUD1 AUD = 0,948 JPY
Japanese YenCanadian Dollar1 JPY = 0,911 CAD1 CAD = 1,097 JPY
Japanese YenSwiss Franc1 JPY = 1,044 CHF1 CHF = 0,958 JPY
Pound SterlingAustralian Dollar1 GBP = 2,466 AUD1 AUD = 0,406 GBP
Pound SterlingCanadian Dollar1 GBP = 2,129 CAD1 CAD = 0,470 GBP
Pound SterlingSwiss Franc1 GBP = 2,437 CHF1 CHF = 0,410 GBP
Australian DollarCanadian Dollar1 AUD = 0,863 CAD1 CAD = 1,159 AUD
Australian DollarSwiss Franc1 AUD = 0,988 CHF1 CHF = 1,012 AUD
Canadian DollarSwiss Franc1 CAD = 1,145 CHF1 CHF = 0,874 CAD

See what else happened on August 31st, 2007