Financial news on August 8th, 2012

Business and Financial news
Business Day Live | August 8, 2012

What the Starbucks partnership with Square will mean for cash. | Ultrarich in France consider exodus over tax proposal. | Charging companies with fraud, but sparing individuals. Read more..

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

Church of England Sells News Corp. Stake Over Hacking

The church, which owned nearly $3 million in shares, said it had wanted the company to separate the jobs of chairman and chief executive, which are both held by Rupert Murdoch. Read more..

By ERIC PFANNER - International Herald Tribune

DreamWorks Animation Plans Shanghai Entertainment District

DreamWorks Animation SKG announces plans to develop a $3.1 billion cultural and entertainment district in Shanghai with a group of Chinese partners; the $3.1 billion Dream Center, a riverfront complex that is expected to cover six large city blocks, has ambitions to rival the Broadway theater district and the West End in London. Read more..


Economy Slumps in Italy and Germany

Italy’s economy shrank again in the second quarter, official data showed, and orders for German machinery declined sharply. Read more..

By DAVID JOLLY - International Herald Tribune

In Columbus, Ohio, an Arts Belt Is Thriving

Short North neighborhood in Columbus, Ohio, is thriving with an eclectic cultural scene, and new development that barely slowed during the recession; transformation of the area began in the 1980s. Read more..

By JAMIE DUFFY - The New York Times

In London, Censure of an Elite Bank Draws Harrumphs

British authorities are circling the wagons around Standard Chartered bank, accused in New York of money laundering. Read more..

By LANDON THOMAS Jr - The New York Times

J. Crew Wants to Reconnect With Its Base

Elizabeth Olson Advertising column highlights J Crew ad campaign. Read more..

By ELIZABETH OLSON - The New York Times

Pfizer Settles U.S. Charges of Bribing Doctors Abroad

Securities and Exchange Commission announces that it has reached a $45 million settlement with Pfizer to resolve charges that subsidiaries of Pfizer and Wyeth bribed overseas doctors and other health care workers to increase sales of their drugs; announcement comes as the Justice Department announces that another Pfizer subsidiary has agreed to pay $15 million to settle similar charges. Read more..

By KATIE THOMAS - The New York Times

Starbucks and Square to Team Up

Mobile payment start-up Square forms a partnership with the Starbucks Coffee Company in which it will begin processing all credit and debit card transaction at all United States stores; Starbucks's adoption of the technology will likely catapult mobile payments into the mainstream. Read more..

By CLAIRE CAIN MILLER - The New York Times

William Procida

Vivian Marino 30-Minute Interview with Procida Funding and Advisors president William Procida; business provides real estate services, including financing and investment funds, and is best know for development work in the South Bronx. Read more..

By VIVIAN MARINO - The New York Times

Stock Markets

Values are reported in US Dollars

StockTicker symbolOpenHighLowCloseVolume
HP Inc.HPQ19.4819.7519.2419.4145M
General ElectricGE21.0521.0920.9021.0132.3M
Cisco SystemsCSCO17.0417.1616.8617.1624.8M
AT&T Inc.T37.3337.5137.0337.4322.4M
Oracle Corp.ORCL31.3431.8131.0731.1622.4M
JPMorgan ChaseJPM36.8537.4836.7537.1618.7M
Walt Disney & Co.DIS49.3650.6549.0550.4914.7M
Bristol-Myers SquibbBMY32.5432.5432.0032.1013.5M
Wells Fargo & Co.WFC33.6333.9533.4833.8212.4M
Verizon CommunicationsVZ44.3344.4744.0744.1810.5M
Procter & GamblePG66.0166.8065.9666.729.67M
Abbott LaboratoriesABT65.9366.1965.7365.908.28M
Wal-Mart StoresWMT73.6574.5173.4374.316.58M
Johnson & JohnsonJNJ68.2968.5668.2268.356.57M
UnitedHealth GroupUNH52.3052.9151.9152.735.72M
Home DepotHD52.1352.8551.9552.795.4M
General MotorsGM20.1420.4520.0520.384.7M
Gilead SciencesGILD56.9857.2756.5056.824.32M
United TechnologiesUTX78.0678.4677.2477.483.2M
Berkshire HathawayBRK.B84.3084.8584.2984.652.85M
International Business MachinesIBM198.27199.69198.16199.032.07M
Union PacificUNP123.22123.39121.55122.001.8M
Exchange Rates of August 8th, 2012
CurrenciesExchange Rates
US DollarJapanese Yen1 USD = 78.420 JPY1 JPY = 0.013 USD
US DollarCanadian Dollar1 USD = 0.995 CAD1 CAD = 1.005 USD
US DollarSwiss Franc1 USD = 0.972 CHF1 CHF = 1.029 USD
US DollarChinese Yuan1 USD = 6.362 CNY1 CNY = 0.157 USD
EuroJapanese Yen1 EUR = 96.980 JPY1 JPY = 0.010 EUR
EuroPound Sterling1 EUR = 0.790 GBP1 GBP = 1.266 EUR
EuroAustralian Dollar1 EUR = 1.169 AUD1 AUD = 0.855 EUR
EuroCanadian Dollar1 EUR = 1.230 CAD1 CAD = 0.813 EUR
EuroSwiss Franc1 EUR = 1.201 CHF1 CHF = 0.833 EUR
EuroChinese Yuan1 EUR = 7.865 CNY1 CNY = 0.127 EUR
Japanese YenPound Sterling1 JPY = 0.814 GBP1 GBP = 1.229 JPY
Japanese YenAustralian Dollar1 JPY = 1.205 AUD1 AUD = 0.830 JPY
Japanese YenCanadian Dollar1 JPY = 1.268 CAD1 CAD = 0.789 JPY
Japanese YenSwiss Franc1 JPY = 1.238 CHF1 CHF = 0.808 JPY
Pound SterlingAustralian Dollar1 GBP = 1.481 AUD1 AUD = 0.675 GBP
Pound SterlingCanadian Dollar1 GBP = 1.557 CAD1 CAD = 0.642 GBP
Pound SterlingSwiss Franc1 GBP = 1.521 CHF1 CHF = 0.658 GBP
Pound SterlingChinese Yuan1 GBP = 9.962 CNY1 CNY = 0.100 GBP
Australian DollarCanadian Dollar1 AUD = 1.051 CAD1 CAD = 0.951 AUD
Australian DollarSwiss Franc1 AUD = 1.027 CHF1 CHF = 0.974 AUD
Australian DollarChinese Yuan1 AUD = 6.727 CNY1 CNY = 0.149 AUD
Canadian DollarSwiss Franc1 CAD = 0.976 CHF1 CHF = 1.024 CAD
Canadian DollarChinese Yuan1 CAD = 6.397 CNY1 CNY = 0.156 CAD
Swiss FrancChinese Yuan1 CHF = 6.547 CNY1 CNY = 0.153 CHF

See what else happened on August 8th, 2012