Financial news on July 31st, 2007

Business and Financial news
Can Murdoch Charge for and Give It Away Too?

News Corporation may not give away free. It could instead bolster its free MarketWatch site and link it to the Fox business news channel. Read more..

By SAUL HANSELL - The New York Times

China: Reserve Requirement for Banks Raised Again

China ordered banks to set aside larger reserves for the sixth time this year to curb lending and investment after the economy grew at the fastest pace since 1994. Lenders must put aside 12 percent of deposits as reserves starting Aug. 15, up from... Read more..

By BLOOMBERG NEWS - The New York Times

G.M. Is Lifted to a Profit by Global Business

The automaker earned $891 million in the second quarter, compared with a loss of $3.4 billion a year earlier, but its problems in North America persisted. Read more..

By JEREMY W. PETERS - The New York Times

Indian Airline Makes Its Case as a Premier-Class Contender

Most Americans have never heard of Jet Airways, the airline Naresh Goyal founded in India 14 years ago. That will change. Read more..

By JOE SHARKEY - The New York Times

In Planned Layovers, Delight in Discovering America

I started my firm in New York back in 1990. My work involves a lot of travel, mostly short-hop domestic trips at least once a week. But about five years ago, after nearly three decades of living in this town, I decided to move to Palm Springs, Cal... Read more..

By RICHARD LAERMER - The New York Times

Johnson & Johnson to Cut Jobs

The health care conglomerate announced plans today to eliminate up to 4,800 jobs in a restructuring that it said would save $1.3 billion to $1.6 billion a year. Read more..

By STEPHANIE SAUL - The New York Times

Kazakhstan: Uncertainty Over Oil Contract

The government of Kazakhstan has raised the possibility of renegotiating one of the country’s largest oil contracts with the Italian company ENI for development of the Kashagan field in the Caspian Sea. Over the weekend, ENI announced cost overrun... Read more..

By JOSHUA YAFFA - The New York Times

Medicare Eases Proposed Restrictions on Anemia Drugs Used by Cancer Patients

The decision could provide some relief for Amgen and Johnson & Johnson, which have already experienced steep drops in sales of the drugs because of concerns that the products might be making cancer worse. Read more..

By ANDREW POLLACK - The New York Times

Murdoch Seen Winning in Bid for Dow Jones

Rupert Murdoch appears to have enough support from the divided Bancroft family for his News Corporation to buy The Wall Street Journal and the rest of Dow Jones for $5 billion. Read more..


Spain: Telefónica Doubles Its Profit

Telefónica, the European telephone company, raised sales and earnings forecasts for 2007 after second-quarter profit more than doubled on broadband customer growth in Spain and Latin America. Net income rose to 2.57 billion euros ($3.5 billion), o... Read more..

By BLOOMBERG NEWS - The New York Times

Stock Markets

Values are reported in US Dollars

StockTicker symbolOpenHighLowCloseVolume
Cisco SystemsCSCO29,8229,8628,9128,9153.8M
General ElectricGE39,5439,7538,7338,7642.8M
Oracle Corp.ORCL19,7919,8219,1119,1236M
JPMorgan ChaseJPM45,0745,9743,9444,0134.1M
Home DepotHD38,1638,4237,0837,1729.8M
AT&T Inc.T39,7940,1039,1239,1627.5M
Wal-Mart StoresWMT46,3446,8145,9045,9527.2M
Verizon CommunicationsVZ42,0143,2941,7542,6224.3M
Johnson & JohnsonJNJ61,3561,7860,5060,5021.9M
Wells Fargo & Co.WFC34,7235,0433,6833,7721.4M
International Business MachinesIBM114,72114,72110,02110,6517.8M
Abbott LaboratoriesABT51,3051,4950,4350,6915.9M
Walt Disney & Co.DIS34,0134,0732,9933,0015.7M
Procter & GamblePG63,0663,1961,7461,8615.5M
HP Inc.HPQ46,4947,0945,9746,0314.7M
Bristol-Myers SquibbBMY29,0029,1228,3528,4112.5M
UnitedHealth GroupUNH49,1649,2348,1348,4310.4M
Gilead SciencesGILD37,8238,5037,2137,239.93M
United TechnologiesUTX75,0075,0072,9772,975.92M
Union PacificUNP121,70122,13119,14119,142.44M
Berkshire HathawayBRK.B3602,003607,003590,003604,0011.8K
Exchange Rates of July 31st, 2007
CurrenciesExchange Rates
US DollarJapanese Yen1 USD = 118,590 JPY1 JPY = 0,008 USD
US DollarCanadian Dollar1 USD = 1,066 CAD1 CAD = 0,938 USD
US DollarSwiss Franc1 USD = 1,201 CHF1 CHF = 0,833 USD
US DollarChinese Yuan1 USD = 7,573 CNY1 CNY = 0,132 USD
EuroJapanese Yen1 EUR = 162,270 JPY1 JPY = 0,006 EUR
EuroPound Sterling1 EUR = 0,674 GBP1 GBP = 1,485 EUR
EuroAustralian Dollar1 EUR = 1,606 AUD1 AUD = 0,623 EUR
EuroCanadian Dollar1 EUR = 1,459 CAD1 CAD = 0,685 EUR
EuroSwiss Franc1 EUR = 1,643 CHF1 CHF = 0,608 EUR
Japanese YenPound Sterling1 JPY = 0,415 GBP1 GBP = 2,411 JPY
Japanese YenAustralian Dollar1 JPY = 0,990 AUD1 AUD = 1,011 JPY
Japanese YenCanadian Dollar1 JPY = 0,899 CAD1 CAD = 1,112 JPY
Japanese YenSwiss Franc1 JPY = 1,013 CHF1 CHF = 0,988 JPY
Pound SterlingAustralian Dollar1 GBP = 2,385 AUD1 AUD = 0,419 GBP
Pound SterlingCanadian Dollar1 GBP = 2,166 CAD1 CAD = 0,462 GBP
Pound SterlingSwiss Franc1 GBP = 2,439 CHF1 CHF = 0,410 GBP
Australian DollarCanadian Dollar1 AUD = 0,908 CAD1 CAD = 1,102 AUD
Australian DollarSwiss Franc1 AUD = 1,022 CHF1 CHF = 0,978 AUD
Canadian DollarSwiss Franc1 CAD = 1,126 CHF1 CHF = 0,888 CAD

See what else happened on July 31st, 2007