Financial news on March 5th, 2013

Business and Financial news
As Fears Recede, Dow Industrials Hit a Milestone

There are concerns about whether the forces that have driven the market rally — government spending and banner corporate profits — will be sufficient to push it higher. Read more..

By PETER EAVIS - The New York Times

Britain Takes On Brussels in Fight Over Bank Pay

British finance minister George Osborne is expected to urge his European Union counterparts to water down proposed rules restricting size of bankers' bonuses. Read more..

By JAMES KANTER - The New York Times

Don’t Touch That Remote: TV Pilots Turn to Net, Not Networks

More television shows are being produced only for the Internet, circumventing existing distribution channels. Read more..

By BRIAN STELTER - The New York Times

Elite Status on Airlines Loses Some of Its Appeal

Airlines have begun selling services once reserved elite status customers to anyone willing to pay a fee; as result, frequent-flier status is losing some of its appeal, at least for those on lower end of elite spectrum. Read more..

By SUSAN STELLIN - The New York Times

F.D.A. Panel Advises Against Two Medicines to Treat Hot Flashes

Outside advisers to Food and Drug Administration soundly reject two drugs vying to become first nonhormonal hot-flash treatments to win agency's approval; say both gabapentin and paroxetine offered only marginal benefit, reducing number of hot flashes by only about one a day compared to placebo. Read more..

By ANDREW POLLACK - The New York Times

Hungary’s New Central Bank Chief Tightens Grip

Deputy governors will no longer be permitted to represent the bank unless they are a joined by a new chief director. Read more..

By REUTERS - International Herald Tribune

Jolt From Italy's Elections May Not Be Enough

The results of the Italian election have not shaken the faith of Europe's pro-austerity forces, including Germany. Read more..

By PAUL TAYLOR | REUTERS - International Herald Tribune

Net Over Network

The Times's Brian Stelter discusses the new, high-quality programming that shuns traditional broadcast TV for the Web. Read more..

Ben Werschkul, Pedro Rafael Rosado, Channon Hodge, Fritzie Andrade and Erica Berenstein - The New York Times

San Francisco’s Thriving Agency Start-Up Scene

Stuart Elliott Advertising column observes that San Francisco ad market, well-known for its continual ups and downs, is being influenced by entrepreneurial spirit of nearby Silicon Valley, with agency employees going into business for themselves. Read more..

By STUART ELLIOTT - The New York Times

Trading Hits a High

The Times's Peter Lattman on what's behind a record moment for the Dow Jones industrial average. Read more..

Channon Hodge, Ben Werschkul, David Gillen and Pedro Rafael Rosado - The New York Times

Stock Markets

Values are reported in US Dollars

StockTicker symbolOpenHighLowCloseVolume
General ElectricGE23.4623.7123.4423.5935.7M
Cisco SystemsCSCO20.8321.2520.8321.2232.8M
JPMorgan ChaseJPM49.4950.1149.3149.4925.6M
Wells Fargo & Co.WFC35.9936.2935.8135.8823.3M
AT&T Inc.T36.5336.7036.5036.6022.6M
HP Inc.HPQ20.0820.5920.0620.3718.5M
Verizon CommunicationsVZ47.4047.8847.1447.6916.4M
Oracle Corp.ORCL35.2235.6835.2135.4615.4M
Gilead SciencesGILD44.3545.5844.3545.0215.1M
Procter & GamblePG76.7877.4076.7277.059.72M
Johnson & JohnsonJNJ77.5677.7177.4477.669.4M
General MotorsGM27.2227.7927.1927.589.2M
Wal-Mart StoresWMT73.4774.0472.9973.729.14M
Home DepotHD70.5870.9770.1270.478.32M
Bristol-Myers SquibbBMY37.0037.6037.0037.577.66M
Abbott LaboratoriesABT34.3834.7034.3734.677.65M
Walt Disney & Co.DIS55.9556.5855.9056.487.07M
UnitedHealth GroupUNH53.4353.8453.1853.504.91M
Berkshire HathawayBRK.B102.48103.48102.33102.664.45M
International Business MachinesIBM205.86207.70205.69206.533.81M
United TechnologiesUTX89.6991.2989.5191.023.36M
Union PacificUNP139.11139.76138.22139.081.67M
Exchange Rates of March 5th, 2013
CurrenciesExchange Rates
US DollarJapanese Yen1 USD = 93.280 JPY1 JPY = 0.011 USD
US DollarCanadian Dollar1 USD = 1.027 CAD1 CAD = 0.974 USD
US DollarSwiss Franc1 USD = 0.941 CHF1 CHF = 1.063 USD
US DollarChinese Yuan1 USD = 6.221 CNY1 CNY = 0.161 USD
EuroJapanese Yen1 EUR = 121.710 JPY1 JPY = 0.008 EUR
EuroPound Sterling1 EUR = 0.863 GBP1 GBP = 1.159 EUR
EuroAustralian Dollar1 EUR = 1.272 AUD1 AUD = 0.786 EUR
EuroCanadian Dollar1 EUR = 1.340 CAD1 CAD = 0.746 EUR
EuroSwiss Franc1 EUR = 1.228 CHF1 CHF = 0.815 EUR
EuroChinese Yuan1 EUR = 8.111 CNY1 CNY = 0.123 EUR
Japanese YenPound Sterling1 JPY = 0.708 GBP1 GBP = 1.412 JPY
Japanese YenAustralian Dollar1 JPY = 1.044 AUD1 AUD = 0.957 JPY
Japanese YenCanadian Dollar1 JPY = 1.100 CAD1 CAD = 0.909 JPY
Japanese YenSwiss Franc1 JPY = 1.008 CHF1 CHF = 0.992 JPY
Pound SterlingAustralian Dollar1 GBP = 1.475 AUD1 AUD = 0.678 GBP
Pound SterlingCanadian Dollar1 GBP = 1.553 CAD1 CAD = 0.644 GBP
Pound SterlingSwiss Franc1 GBP = 1.423 CHF1 CHF = 0.703 GBP
Pound SterlingChinese Yuan1 GBP = 9.403 CNY1 CNY = 0.106 GBP
Australian DollarCanadian Dollar1 AUD = 1.053 CAD1 CAD = 0.949 AUD
Australian DollarSwiss Franc1 AUD = 0.965 CHF1 CHF = 1.036 AUD
Australian DollarChinese Yuan1 AUD = 6.374 CNY1 CNY = 0.157 AUD
Canadian DollarSwiss Franc1 CAD = 0.915 CHF1 CHF = 1.092 CAD
Canadian DollarChinese Yuan1 CAD = 6.054 CNY1 CNY = 0.165 CAD
Swiss FrancChinese Yuan1 CHF = 6.605 CNY1 CNY = 0.151 CHF

See what else happened on March 5th, 2013