Financial news on December 9th, 2011

Business and Financial news
Bank of England Holds Rate Steady

The decision came after the bank's governor warned of growing risks for Britain's economy from the euro area. Read more..

By JULIA WERDIGIER - International Herald Tribune

Claims for Jobless Benefits Drop to a Nine-Month Low

Labor Department releases report finding initial claims for state unemployment benefits fell 23,000 to 381,000, exceeding analyst expectations. Read more..

By REUTERS - The New York Times

Costco Reports 2.6% Increase in Net Income

Costco Wholesale Corporation reports that its first-quarter profit rose 2.6 percent as revenue grew significantly and it kept prices low on gas, food and other products to gain market share; reports net income of $320 million, or 73 cents a share, up from $312 million in previous year. Read more..


Ford, Feeling Secure, To Resume Dividends

Ford Motor Company announces that it will resume paying quarterly dividends to its shareholders for the first time since 2006, citing third consecutive profitable year and $21 billion on hand in cash and securities. Read more..

By NICK BUNKLEY - The New York Times

Joseph E. Robert Jr., Investor in Real Estate, Dies at 59

Joseph E Robert Jr, an international real estate investor with a talent for turning troubled properties into profits, including billions of dollars worth of assets from the collapse of the savings and loan industry in the 1980s, dies at age 59. Read more..

By DIANA B. HENRIQUES - The New York Times

Many in Japan Are Again Heading for the Hills

Historically, the Japanese have shunned living near the sea, and after the tsunami in March, people are reverting to that behavior. Read more..

By MIKI TANIKAWA - International Herald Tribune

Morning Take-Out

Highlights from the DealBook newsletter. Read more..

By WILLIAM ALDEN - The New York Times

Settlement With Wachovia Points Up a Controversy

Securities and Exchange Commission and the Justice Department, together with other regulators, wrest $148 million in settlements from Wachovia bank on charges that it reaped millions of dollars in profits by rigging bids in the municipal securities market; Wachovia is now part of Wells Fargo; bank admits wrongdoing in settlement with Justice Department but does not do so in settlement with SEC, pointing up ongoing controversy over SEC's 'neither admit nor deny' practice. Read more..

By EDWARD WYATT - The New York Times

Stock Markets

Values are reported in US Dollars

StockTicker symbolOpenHighLowCloseVolume
General ElectricGE16.3816.9816.3616.8485.7M
Cisco SystemsCSCO18.5818.9618.4918.8844M
JPMorgan ChaseJPM32.3633.3132.3633.1839.1M
Wells Fargo & Co.WFC26.3327.0126.2926.9128.6M
AT&T Inc.T29.0829.1028.8029.0324.4M
Oracle Corp.ORCL30.8431.8530.8131.6922.6M
HP Inc.HPQ27.6128.4327.5227.9019.3M
Home DepotHD40.1240.4139.9940.2310.3M
Abbott LaboratoriesABT54.2954.7453.9954.5710.3M
Wal-Mart StoresWMT58.1658.4957.4758.3210.1M
Johnson & JohnsonJNJ64.3264.6863.9864.538.84M
Bristol-Myers SquibbBMY33.4633.6633.2933.547.84M
Procter & GamblePG64.6665.1764.6064.977.65M
Walt Disney & Co.DIS36.1736.7736.1736.567.32M
General MotorsGM21.0921.4021.0621.156.49M
UnitedHealth GroupUNH48.2149.0848.1248.915.71M
Gilead SciencesGILD39.0239.5138.9339.015.69M
Berkshire HathawayBRK.B77.5178.0077.1977.615.56M
International Business MachinesIBM192.91194.87192.40194.564.85M
United TechnologiesUTX74.6976.5874.5976.313.95M
Verizon CommunicationsVZ37.9738.5037.9438.432.81M
Union PacificUNP100.55102.1099.91101.752.58M
Exchange Rates of December 9th, 2011
CurrenciesExchange Rates
US DollarJapanese Yen1 USD = 77.610 JPY1 JPY = 0.013 USD
US DollarCanadian Dollar1 USD = 1.017 CAD1 CAD = 0.983 USD
US DollarSwiss Franc1 USD = 0.923 CHF1 CHF = 1.084 USD
US DollarChinese Yuan1 USD = 6.364 CNY1 CNY = 0.157 USD
EuroJapanese Yen1 EUR = 103.900 JPY1 JPY = 0.010 EUR
EuroPound Sterling1 EUR = 0.854 GBP1 GBP = 1.171 EUR
EuroAustralian Dollar1 EUR = 1.310 AUD1 AUD = 0.763 EUR
EuroCanadian Dollar1 EUR = 1.361 CAD1 CAD = 0.735 EUR
EuroSwiss Franc1 EUR = 1.235 CHF1 CHF = 0.810 EUR
EuroChinese Yuan1 EUR = 8.478 CNY1 CNY = 0.118 EUR
Japanese YenPound Sterling1 JPY = 0.822 GBP1 GBP = 1.217 JPY
Japanese YenAustralian Dollar1 JPY = 1.260 AUD1 AUD = 0.794 JPY
Japanese YenCanadian Dollar1 JPY = 1.310 CAD1 CAD = 0.763 JPY
Japanese YenSwiss Franc1 JPY = 1.189 CHF1 CHF = 0.841 JPY
Pound SterlingAustralian Dollar1 GBP = 1.533 AUD1 AUD = 0.652 GBP
Pound SterlingCanadian Dollar1 GBP = 1.593 CAD1 CAD = 0.628 GBP
Pound SterlingSwiss Franc1 GBP = 1.446 CHF1 CHF = 0.692 GBP
Pound SterlingChinese Yuan1 GBP = 9.925 CNY1 CNY = 0.101 GBP
Australian DollarCanadian Dollar1 AUD = 1.039 CAD1 CAD = 0.962 AUD
Australian DollarSwiss Franc1 AUD = 0.943 CHF1 CHF = 1.061 AUD
Australian DollarChinese Yuan1 AUD = 6.475 CNY1 CNY = 0.154 AUD
Canadian DollarSwiss Franc1 CAD = 0.907 CHF1 CHF = 1.103 CAD
Canadian DollarChinese Yuan1 CAD = 6.230 CNY1 CNY = 0.161 CAD
Swiss FrancChinese Yuan1 CHF = 6.860 CNY1 CNY = 0.146 CHF

See what else happened on December 9th, 2011