Financial news on January 31, 2008

Business and Financial news
A Warning on Insurers Frays Nerves

A fund manager rattled investors by warning that two pillars of the financial markets might crumble. Read more..

By VIKAS BAJAJ and JULIE CRESWELL - The New York Times

Bank Defies French Elite and Keeps Chief, for Now

The decision to keep Daniel Bouton at the helm of Société Générale baffled some people in the United States and Britain. Read more..

By NICOLA CLARK and KATRIN BENNHOLD - The New York Times

Canada: Suncor Expands in Oil Sands

In a move that will make it the country’s largest oil sands producer, Suncor Energy said it would spend 20.6 billion Canadian dollars (about the same in American dollars) to expand operations near Fort McMurray, Alberta. The operation will be able... Read more..

By IAN AUSTEN - The New York Times

Home Depot Plans Layoffs at Headquarters

Battered by a downturn in the housing market, the company is laying off 500 workers at its headquarters in Atlanta, or about 10 percent of its work force there. Read more..

By MICHAEL BARBARO - The New York Times

Quarter’s Weak Growth Adds to Signs of Slowdown

Over all, the economy expanded by 2.2 percent in inflation-adjusted terms for all of 2007, the slowest rate of growth in five years. Read more..

By PETER S. GOODMAN - The New York Times

Recent Moves by Guild Leaders Rattle Writers’ Talks

A Writers Guild leader expressed wariness over modeling a deal on a new contract recently reached between production companies and the Directors Guild of America. Read more..

By MICHAEL CIEPLY - The New York Times

Simpler Labels for Food Content Proposed

The European Commission proposed simpler food labels highlighting fat, sugar and salt content in an effort to contain the spread of obesity and junk food. Under the proposals, six content elements will have to appear on packages: energy, total fat... Read more..

By AP - The New York Times

Starbucks to Close Stores and End Sandwich Sales

The decision came as Starbucks reported anemic sales growth of 1 percent at stores open at least a year, the worst three-month performance in the company’s history. Read more..

By ANDREW MARTIN - The New York Times

Strong Holiday Season Lifts Amazon’s Revenue

The online retailer’s revenue was up 42 percent in its fourth quarter and its profits more than doubled, but its profit margins were lower. Read more..

By LAURIE J. FLYNN - The New York Times

U.S. Growth Slowed Drastically in 4th Quarter

The economy expanded by at a weak 0.6 percent rate in the latest indication of a substantial slowdown and perhaps a recession. Read more..

By PETER S. GOODMAN - The New York Times

Stock Markets

Values are reported in US Dollars

StockTicker symbolOpenHighLowCloseVolume
MicrosoftMSFT31,9132,7431,7232,60104M
IntelINTC20,4421,3420,3621,10101M
Cisco SystemsCSCO23,9824,7023,8924,5076.3M
Wells Fargo & Co.WFC32,1234,2531,7734,0860.3M
General ElectricGE34,8635,6734,5035,3655.6M
JPMorgan ChaseJPM46,5548,1945,8547,4055.5M
PfizerPFE23,0023,5222,7623,3652.7M
Oracle Corp.ORCL19,9520,7319,8820,5552.5M
AppleAAPL129,45136,65129,40135,3648.1M
Wal-Mart StoresWMT49,2351,3048,7350,7446.2M
AmazonAMZN68,9178,8768,8477,7042.9M
AT&T Inc.T36,8138,4936,5738,4938.2M
Home DepotHD28,8831,0828,8230,6433.2M
ExxonMobilXOM84,0386,4083,1086,4033M
AlphabetGOOGL539,01573,00534,29564,3029.7M
Bristol-Myers SquibbBMY22,9923,5021,7523,0228.1M
SchlumbergerSLB74,4375,9673,2075,4025.3M
MerckMRK46,3246,6145,0746,1025.1M
ComcastCMCSA17,4018,2017,3818,1624.3M
HP Inc.HPQ42,9444,2342,3043,7222.1M
Abbott LaboratoriesABT55,2256,7052,8956,1821.7M
Johnson & JohnsonJNJ61,9563,3961,7263,1421.3M
ConocoPhillipsCOP78,0580,8777,2580,1120.7M
Procter & GamblePG64,0365,9563,7865,4219.9M
McDonald'sMCD50,3053,5850,1153,5818.3M
Verizon CommunicationsVZ37,7539,1737,5138,8317.9M
Walt Disney & Co.DIS29,2930,1728,8429,8415.1M
AltriaMO76,0676,8775,4575,7914.9M
AmgenAMGN47,0447,0946,2946,5914.7M
Gilead SciencesGILD44,8845,9044,4545,6913.8M
PepsicoPEP67,3068,4966,3068,0513.2M
ChevronCVX81,9284,5081,2483,2512.6M
Coca-ColaKO57,3059,3657,2459,0012M
International Business MachinesIBM104,36107,97103,70107,119.05M
UnitedHealth GroupUNH50,0751,1249,3250,848.36M
BoeingBA81,7683,8480,8083,187.89M
United TechnologiesUTX71,6574,0071,6573,277.02M
3MMMM77,2380,0077,0479,655.43M
Union PacificUNP121,58126,49115,00124,764.65M
Berkshire HathawayBRK.B4710,004710,004550,004550,0029.2K
Exchange Rates of January 31, 2008
CurrenciesExchange Rates
US DollarJapanese Yen1 USD = 106,410 JPY1 JPY = 0,009 USD
US DollarCanadian Dollar1 USD = 1,003 CAD1 CAD = 0,997 USD
US DollarSwiss Franc1 USD = 1,082 CHF1 CHF = 0,925 USD
US DollarChinese Yuan1 USD = 7,182 CNY1 CNY = 0,139 USD
EuroJapanese Yen1 EUR = 158,170 JPY1 JPY = 0,006 EUR
EuroPound Sterling1 EUR = 0,748 GBP1 GBP = 1,338 EUR
EuroAustralian Dollar1 EUR = 1,658 AUD1 AUD = 0,603 EUR
EuroCanadian Dollar1 EUR = 1,490 CAD1 CAD = 0,671 EUR
EuroSwiss Franc1 EUR = 1,607 CHF1 CHF = 0,622 EUR
Japanese YenPound Sterling1 JPY = 0,472 GBP1 GBP = 2,117 JPY
Japanese YenAustralian Dollar1 JPY = 1,048 AUD1 AUD = 0,954 JPY
Japanese YenCanadian Dollar1 JPY = 0,941 CAD1 CAD = 1,062 JPY
Japanese YenSwiss Franc1 JPY = 1,016 CHF1 CHF = 0,985 JPY
Pound SterlingAustralian Dollar1 GBP = 2,218 AUD1 AUD = 0,451 GBP
Pound SterlingCanadian Dollar1 GBP = 1,993 CAD1 CAD = 0,502 GBP
Pound SterlingSwiss Franc1 GBP = 2,149 CHF1 CHF = 0,465 GBP
Australian DollarCanadian Dollar1 AUD = 0,898 CAD1 CAD = 1,114 AUD
Australian DollarSwiss Franc1 AUD = 0,968 CHF1 CHF = 1,033 AUD
Canadian DollarSwiss Franc1 CAD = 1,078 CHF1 CHF = 0,927 CAD

See what else happened on January 31, 2008