Financial news on December 8th, 2011

Business and Financial news
A Business Ponders Whether Its Location Is Perfect, or a Disaster

Case Study column examines Pulling Down the Moon, which offers yoga classes and other services to women undergoing fertility treatments; notes its Chicago office is reconsidering relocating after flooding. Read more..

By JOHN GROSSMANN - The New York Times

BlackBerry Maker Changes New Operating System’s Name

Research in Motion changes name of its new operating system to revive the BlackBerry brand from BBX to BlackBerry 10; change follows grant of restraining order to Basis International, which has long used the name BBx. Read more..

By IAN AUSTEN - The New York Times

Charity Campaigns Try Gentle Approach to Get Shoppers to Spend on Good Deeds

Elizabeth Olson Advertising column highlights charity campaigns by the American Red Cross and Oxfam America. Read more..

By ELIZABETH OLSON - The New York Times

Daily Deals, Sent Right to Your Pocket

Bob Tedeschi App Smart column highlights free daily shopping deal smartphone apps, including those from Groupon and LivingSocial. Read more..

By BOB TEDESCHI - The New York Times

Dollar-Loan Demand Swells In Europe After Rate Cut

European Central Bank says demand for three-month dollar loans surged after cutting financing cost almost in half in a coordinated action with five other central banks including the Federal Reserve; it will lend $50.7 billion to 34 banks for 84 days at rate of 0.59 percent, compared with $395 million lent in previous three-month offering at 1.09 percent. Read more..

By BLOOMBERG NEWS - The New York Times

Free Money for the Packers

Reuters BreakingViews column observes the champion Green Bay Packers are selling stock in the team for $250 a share to raise millions to refurbish the team stadium, but the shares give buyers few rights; notes Federal Reserve chief Ben S Bernanke would get less flak if Fed managed its communication better regarding role as crisis lender. Read more..


Morning Take-Out

Highlights from the DealBook newsletter. Read more..

By WILLIAM ALDEN - The New York Times

Reliance on Credit in Spending Rises in U.S.

Federal Reserve reports consumer borrowing in United States rose by $7.65 billion in October to $2.46 trillion, up at annual rate of 3.7 percent, most since October 2009; rate in September was up 3.4 percent. Read more..

By BLOOMBERG NEWS - The New York Times

Shares Gain on Hope Euro Zone Can Find a Solution to Its Debt Crisis

Markets rise on hopes euro zone will find solution to its debt crisis; Dow Jones industrial average rises 46.24 points, or 0.38 percent, to 12,196.37; Standard & Poor's 500-stock index rises 2.54 points, or 0.20 percent, to 1,261.01; Nasdaq composite index falls 0.35 points, or 0.01 percent, to 2,649.21. Read more..

By REUTERS - The New York Times

Tech Talk Podcast: Say Nice Things

Guests on this week’s podcast include Daniel Mohan of ID Watchdog, who explains how people’s identities can be stolen (and what to do about it), and Will Lucas, who discusses, a new social app for positive posts. Read more..

By THE NEW YORK TIMES - The New York Times

Stock Markets

Values are reported in US Dollars

StockTicker symbolOpenHighLowCloseVolume
General ElectricGE16.5816.6516.2516.3179.7M
JPMorgan ChaseJPM33.5533.7032.0832.2247.8M
Cisco SystemsCSCO18.8719.0718.4518.5747.3M
Wells Fargo & Co.WFC26.6926.8526.0626.1929.4M
Oracle Corp.ORCL31.2431.5030.6530.7424.5M
AT&T Inc.T29.2329.2428.8128.8622.6M
HP Inc.HPQ28.1728.6727.5627.6621.7M
Verizon CommunicationsVZ38.1538.2537.8137.8113.9M
Abbott LaboratoriesABT54.5854.7554.0754.1813M
Home DepotHD40.4940.8039.8439.9112M
General MotorsGM21.7621.7620.8520.9811.5M
Bristol-Myers SquibbBMY33.2433.6633.2433.3110.6M
Wal-Mart StoresWMT58.3958.5557.8757.9810.4M
Walt Disney & Co.DIS36.8636.9635.8235.929.88M
Johnson & JohnsonJNJ64.1464.4563.5663.789.57M
UnitedHealth GroupUNH49.2349.5547.9848.168.64M
Procter & GamblePG64.8765.0064.3064.478.35M
Gilead SciencesGILD39.4039.4038.6838.737.25M
Berkshire HathawayBRK.B77.8277.9976.6676.945.84M
International Business MachinesIBM192.48193.80191.07191.584.37M
United TechnologiesUTX75.6776.1374.0974.374.29M
Union PacificUNP102.22102.22100.01100.373.15M
Exchange Rates of December 8th, 2011
CurrenciesExchange Rates
US DollarJapanese Yen1 USD = 77.620 JPY1 JPY = 0.013 USD
US DollarCanadian Dollar1 USD = 1.023 CAD1 CAD = 0.978 USD
US DollarSwiss Franc1 USD = 0.926 CHF1 CHF = 1.080 USD
US DollarChinese Yuan1 USD = 6.363 CNY1 CNY = 0.157 USD
EuroJapanese Yen1 EUR = 103.550 JPY1 JPY = 0.010 EUR
EuroPound Sterling1 EUR = 0.854 GBP1 GBP = 1.172 EUR
EuroAustralian Dollar1 EUR = 1.312 AUD1 AUD = 0.762 EUR
EuroCanadian Dollar1 EUR = 1.365 CAD1 CAD = 0.733 EUR
EuroSwiss Franc1 EUR = 1.236 CHF1 CHF = 0.809 EUR
EuroChinese Yuan1 EUR = 8.483 CNY1 CNY = 0.118 EUR
Japanese YenPound Sterling1 JPY = 0.824 GBP1 GBP = 1.214 JPY
Japanese YenAustralian Dollar1 JPY = 1.266 AUD1 AUD = 0.790 JPY
Japanese YenCanadian Dollar1 JPY = 1.317 CAD1 CAD = 0.759 JPY
Japanese YenSwiss Franc1 JPY = 1.192 CHF1 CHF = 0.839 JPY
Pound SterlingAustralian Dollar1 GBP = 1.536 AUD1 AUD = 0.651 GBP
Pound SterlingCanadian Dollar1 GBP = 1.598 CAD1 CAD = 0.626 GBP
Pound SterlingSwiss Franc1 GBP = 1.446 CHF1 CHF = 0.691 GBP
Pound SterlingChinese Yuan1 GBP = 9.934 CNY1 CNY = 0.101 GBP
Australian DollarCanadian Dollar1 AUD = 1.040 CAD1 CAD = 0.962 AUD
Australian DollarSwiss Franc1 AUD = 0.941 CHF1 CHF = 1.063 AUD
Australian DollarChinese Yuan1 AUD = 6.463 CNY1 CNY = 0.155 AUD
Canadian DollarSwiss Franc1 CAD = 0.905 CHF1 CHF = 1.105 CAD
Canadian DollarChinese Yuan1 CAD = 6.218 CNY1 CNY = 0.161 CAD
Swiss FrancChinese Yuan1 CHF = 6.864 CNY1 CNY = 0.146 CHF

See what else happened on December 8th, 2011