Financial news on August 2nd, 2012

Business and Financial news
Bad Trades Cost Knight $440 Million

Knight Capital, the New Jersey broker whose automated stock trading program roiled the stock market on Wednesday with erroneous trades, said Thursday that the disruption had cost it $440 million and that it needed to raise money. Read more..

By THE NEW YORK TIMES - The New York Times

Business Day Live | August 2, 2012

Examining the fallout of an electronic trading debacle. | What the Fed's inaction means for the economy. | A look at Chick-fil-A, as a business. | Keeping fit while traveling. Read more..

Mac William Bishop, Nadia Sussman, Pedro Rosado and Channon Hodge - The New York Times

Draghi Edges Closer to Bond Purchases, but Hopes Are Blunted

The European Central Bank chief, Mario Draghi, set off a backlash by investors who were apparently hoping for a bold euro rescue plan. Read more..

By JACK EWING - The New York Times

European Leaders Huddle Over Euro

Intensive political discussions are under way in advance of a meeting of the European Central Bank on Thursday that many fear may not produce instant action. Read more..

By STEPHEN CASTLE - International Herald Tribune

F.T.C. Seeks Tighter Rules on Web Sites for Children

Federal Trade Commission, seeking to further tighten rules on online collection or disclosure of children's personal information, proposes restrictive requirements on companies and Web sites that target youths or that have young audiences. Read more..

By EDWARD WYATT - The New York Times

Guides to Make Park Days Smoother

Kit Eaton App Smart column observes confusing maps and long lines can make theme parks stressful, but several apps can keep habitual parkgoers informed and entertained. Read more..

By KIT EATON - The New York Times

Monsanto Wins Big Award in a Biotech Patent Case

Federal jury awards $1 billion in damages to crop biotechnology firm Monsanto, saying that its rival DuPont had willfully infringed a patent covering Roundup Ready soybeans. Read more..

By ANDREW POLLACK - The New York Times

Olympus Says It Might Have Violated an Anti-Bribery Law

Olympus Corp reports 'irregularities' with a doctor-training program in Brazil to the Department of Justice; says it might have violated the Foreign Corrupt Practices Act. Read more..

By BLOOMBERG NEWS - The New York Times

Restoring Neglected Town Houses to Their Old Glory in Bath

In an unusual project, an entire crescent will be returned to luxury use. Read more..

By RICHARD HOLLEDGE - International Herald Tribune

Trustee Fights Madoff Case Settlement

Irving H Picard, trustee liquidating Bernard L Madoff's assets, argues that New York State’s $410 million settlement with the hedge fund manager J Ezra Merkin interferes with his exclusive right to seek money for the Ponzi scheme victims. Read more..

By REUTERS - The New York Times

Stock Markets

Values are reported in US Dollars

StockTicker symbolOpenHighLowCloseVolume
Cisco SystemsCSCO15.8016.1115.6515.7447.4M
General ElectricGE20.5220.7020.2020.5244M
Bristol-Myers SquibbBMY33.0833.4732.4132.5543.5M
JPMorgan ChaseJPM35.6235.8434.7635.1736.7M
Wells Fargo & Co.WFC33.6333.6832.8433.3431.5M
HP Inc.HPQ17.6118.1817.4117.5531.2M
Gilead SciencesGILD57.9058.8456.0357.2929.4M
AT&T Inc.T37.5237.7637.3337.5424.7M
Oracle Corp.ORCL29.8730.4029.7429.9222.1M
Verizon CommunicationsVZ45.0745.0744.1544.6215M
Abbott LaboratoriesABT66.6067.1365.6566.3415M
Johnson & JohnsonJNJ68.8168.9868.0268.4513.5M
General MotorsGM19.5920.0618.9319.1410.9M
Walt Disney & Co.DIS48.6048.9948.1348.989.56M
Home DepotHD51.5452.0851.2151.399.54M
Procter & GamblePG63.6663.9863.2563.519.46M
Wal-Mart StoresWMT73.0574.1672.9474.058.09M
UnitedHealth GroupUNH50.7551.7650.3251.107.32M
United TechnologiesUTX74.2674.7973.1074.444.49M
Berkshire HathawayBRK.B84.0284.4783.2384.084.2M
International Business MachinesIBM194.16196.60193.02194.452.81M
Union PacificUNP120.90122.36120.31121.801.78M
Exchange Rates of August 2nd, 2012
CurrenciesExchange Rates
US DollarJapanese Yen1 USD = 78.240 JPY1 JPY = 0.013 USD
US DollarCanadian Dollar1 USD = 1.007 CAD1 CAD = 0.993 USD
US DollarSwiss Franc1 USD = 0.986 CHF1 CHF = 1.014 USD
US DollarChinese Yuan1 USD = 6.367 CNY1 CNY = 0.157 USD
EuroJapanese Yen1 EUR = 95.320 JPY1 JPY = 0.010 EUR
EuroPound Sterling1 EUR = 0.785 GBP1 GBP = 1.274 EUR
EuroAustralian Dollar1 EUR = 1.164 AUD1 AUD = 0.859 EUR
EuroCanadian Dollar1 EUR = 1.227 CAD1 CAD = 0.815 EUR
EuroSwiss Franc1 EUR = 1.201 CHF1 CHF = 0.833 EUR
EuroChinese Yuan1 EUR = 7.758 CNY1 CNY = 0.129 EUR
Japanese YenPound Sterling1 JPY = 0.823 GBP1 GBP = 1.214 JPY
Japanese YenAustralian Dollar1 JPY = 1.221 AUD1 AUD = 0.819 JPY
Japanese YenCanadian Dollar1 JPY = 1.287 CAD1 CAD = 0.777 JPY
Japanese YenSwiss Franc1 JPY = 1.260 CHF1 CHF = 0.794 JPY
Pound SterlingAustralian Dollar1 GBP = 1.482 AUD1 AUD = 0.675 GBP
Pound SterlingCanadian Dollar1 GBP = 1.562 CAD1 CAD = 0.640 GBP
Pound SterlingSwiss Franc1 GBP = 1.529 CHF1 CHF = 0.654 GBP
Pound SterlingChinese Yuan1 GBP = 9.880 CNY1 CNY = 0.101 GBP
Australian DollarCanadian Dollar1 AUD = 1.054 CAD1 CAD = 0.949 AUD
Australian DollarSwiss Franc1 AUD = 1.031 CHF1 CHF = 0.970 AUD
Australian DollarChinese Yuan1 AUD = 6.663 CNY1 CNY = 0.150 AUD
Canadian DollarSwiss Franc1 CAD = 0.979 CHF1 CHF = 1.022 CAD
Canadian DollarChinese Yuan1 CAD = 6.322 CNY1 CNY = 0.158 CAD
Swiss FrancChinese Yuan1 CHF = 6.457 CNY1 CNY = 0.155 CHF

See what else happened on August 2nd, 2012