Financial news on February 5th, 2014
Business and Financial news
Arthur Ortenberg, who teamed up with his wife, designer Liz Claiborne, and a third partner to build a billion-dollar enterprise clothing career women in stylish but casual outfits at moderate prices, dies at age 87. Read more..
Peruvian developer Fernando Palazuelo’s acquisition of Packard Motor Car plant is part of the land rush occurring in Detroit, where investors are scrambling to buy vacant properties at the bottom of a historically distressed market. Read more..
If approved, the deal would put an end to half a decade of wrangles with antitrust authorities across the globe. Read more..
Greece has surplus of about 1 billion euros, or $1.35 billion; windfall masks deep problems in a fragile economy despite major spending cuts and the imposition of higher taxes. Read more..
Eduardo Porter Economic Scene column notes that Idaho district judge has ruled against merger between St Luke's Health System and Saltzer Medical Group, saying that patient costs would have risen; observes that decision underlines potentially important conflict between nation's anti-monopoly laws and Affordable Care Act, which has encouraged creation of big, broad accountable care organizations. Read more..
Stock market rebounds a bit, buoyed by encouraging earnings, as it tries to steady itself after its largest sell-off since June 2013. Read more..
Microsoft names Satya Nadella as its new chief executive, who in turn announces that founder Bill Gates will shed his role as chairman and return to company as an active adviser on products and technology; shift presents opportunity to lift morale, but could also complicate matters for Nadella as he assumes the helm alongside a man who is still revered at the company. Read more..
British oil giant BP reports that adjusted earnings for its fourth quarter were $2.8 billion, compared with $3.8 billion in the period a year earlier; main reason for lower earnings is that BP has become a much smaller company after the Gulf of Mexico oil spill in 2010, with plans to sell more assets. Read more..
John Mulligan, Target’s chief executive, testifies at Senate hearing that company is accelerating plans to adopt EMV, European-based technology that embeds a small chip instead of a magnetic stripe on credit cards, and is hoping to have chip-reading devices in its stores by end of 2014. Read more..
Chrysler executives consider opening a third factory for Ram pickup trucks; Maserati sold 15,400 vehicles in 2013. Read more..
Values are reported in US Dollars
|Wells Fargo & Co.||WFC||44.60||44.63||44.17||44.23||22M|
|Walt Disney & Co.||DIS||72.05||72.05||70.37||71.76||11.6M|
|Johnson & Johnson||JNJ||86.49||87.67||86.48||87.28||10.7M|
|Procter & Gamble||PG||75.94||76.80||75.67||76.45||9.73M|
|International Business Machines||IBM||172.19||174.97||172.19||174.24||4.71M|
Exchange Rates of February 5th, 2014
|US Dollar||Japanese Yen||1 USD = 101.450 JPY||1 JPY = 0.010 USD|
|US Dollar||Canadian Dollar||1 USD = 1.108 CAD||1 CAD = 0.902 USD|
|US Dollar||Swiss Franc||1 USD = 0.904 CHF||1 CHF = 1.107 USD|
|Euro||Japanese Yen||1 EUR = 137.270 JPY||1 JPY = 0.007 EUR|
|Euro||Pound Sterling||1 EUR = 0.829 GBP||1 GBP = 1.206 EUR|
|Euro||Australian Dollar||1 EUR = 1.519 AUD||1 AUD = 0.659 EUR|
|Euro||Canadian Dollar||1 EUR = 1.499 CAD||1 CAD = 0.667 EUR|
|Euro||Swiss Franc||1 EUR = 1.223 CHF||1 CHF = 0.818 EUR|
|Euro||Chinese Yuan||1 EUR = 8.201 CNY||1 CNY = 0.122 EUR|
|Japanese Yen||Pound Sterling||1 JPY = 0.604 GBP||1 GBP = 1.655 JPY|
|Japanese Yen||Australian Dollar||1 JPY = 1.106 AUD||1 AUD = 0.904 JPY|
|Japanese Yen||Canadian Dollar||1 JPY = 1.092 CAD||1 CAD = 0.916 JPY|
|Japanese Yen||Swiss Franc||1 JPY = 0.890 CHF||1 CHF = 1.123 JPY|
|Pound Sterling||Australian Dollar||1 GBP = 1.830 AUD||1 AUD = 0.546 GBP|
|Pound Sterling||Canadian Dollar||1 GBP = 1.807 CAD||1 CAD = 0.553 GBP|
|Pound Sterling||Swiss Franc||1 GBP = 1.474 CHF||1 CHF = 0.679 GBP|
|Pound Sterling||Chinese Yuan||1 GBP = 9.884 CNY||1 CNY = 0.101 GBP|
|Australian Dollar||Canadian Dollar||1 AUD = 0.987 CAD||1 CAD = 1.013 AUD|
|Australian Dollar||Swiss Franc||1 AUD = 0.805 CHF||1 CHF = 1.243 AUD|
|Australian Dollar||Chinese Yuan||1 AUD = 5.404 CNY||1 CNY = 0.185 AUD|
|Canadian Dollar||Swiss Franc||1 CAD = 0.815 CHF||1 CHF = 1.227 CAD|
|Canadian Dollar||Chinese Yuan||1 CAD = 5.467 CNY||1 CNY = 0.183 CAD|
|Swiss Franc||Chinese Yuan||1 CHF = 6.706 CNY||1 CNY = 0.149 CHF|