Financial news on February 10, 2012
Business and Financial news
Floyd Norris High & Low Finance column on European bailout of Greece as a new austerity package is agreed to; says that if Greece does not meet its deficit reduction targets, Europe could be in a position to force the nation to fend for itself, reinforcing the fact that Greece is a small country of little importance to the rest of Europe; holds Greece may not be rescued in the end, but the rest of the euro zone will have been preserved. Read more..
European Central Bank leaves its main interest rate unchanged, signaling the worst may be over for the euro zone; policy makers wait to see whether signs of improving growth will lead to a recovery; the Bank of England also leaves its benchmark rate unchanged, but decides to expand its asset-buying program to help the British economy avoid falling back into a recession. Read more..
Nuclear Regulatory Commission votes 4 to 1 to grant a license to Southern Company to build and operate two reactors at a nuclear plant in Georgia; it is a crucial threshold for the industry, which has not had a new plant start since 1978; $14 billion project will be closely watched by utilities around the country, many of which are leery of nuclear construction due to huge cost overruns in the 1960s, '70s and '80s. Read more..
The recent arrest of a pilot for Lion Air on suspicion of possessing crystal methamphetamine raised fresh concerns about the airline industry's safety and security standards. Read more..
Eastman Kodak Company says it will stop making digital cameras, pocket video cameras and digital picture frames, signifying the end of an era for the company that brought photography to the masses more than a century ago; company will phase out those production lines and look for other companies to license its brand for those products. Read more..
Lorillard says its net income grew nearly 20 percent in the fourth quarter as it sold more cigarettes at higher prices; earnings were $310 million, or $2.32 a share, for the period, up from $259 million, or $1.74 a share, a year earlier. Read more..
Stocks rise modestly for a third consecutive day after Greece reaches a deal to secure a financial bailout; investors remain cautious after a week of gains. Read more..
Nello Ferrara, the candy company executive who brought the world Lemonheads and Atomic FireBalls, dies at age 93. Read more..
Values are reported in US Dollars
|Wells Fargo & Co.||WFC||30.18||30.40||30.08||30.26||20M|
|Johnson & Johnson||JNJ||64.71||64.77||64.25||64.60||14M|
|Walt Disney & Co.||DIS||40.94||41.45||40.83||41.45||10.1M|
|Procter & Gamble||PG||63.60||63.98||63.55||63.88||8.3M|
|International Business Machines||IBM||191.76||192.43||191.28||192.42||3.39M|
Exchange Rates of February 10, 2012
|US Dollar||Japanese Yen||1 USD = 77.590 JPY||1 JPY = 0.013 USD|
|US Dollar||Canadian Dollar||1 USD = 1.001 CAD||1 CAD = 0.999 USD|
|US Dollar||Swiss Franc||1 USD = 0.916 CHF||1 CHF = 1.091 USD|
|US Dollar||Chinese Yuan||1 USD = 6.300 CNY||1 CNY = 0.159 USD|
|Euro||Japanese Yen||1 EUR = 102.430 JPY||1 JPY = 0.010 EUR|
|Euro||Pound Sterling||1 EUR = 0.837 GBP||1 GBP = 1.194 EUR|
|Euro||Australian Dollar||1 EUR = 1.236 AUD||1 AUD = 0.809 EUR|
|Euro||Canadian Dollar||1 EUR = 1.321 CAD||1 CAD = 0.757 EUR|
|Euro||Swiss Franc||1 EUR = 1.209 CHF||1 CHF = 0.827 EUR|
|Euro||Chinese Yuan||1 EUR = 8.293 CNY||1 CNY = 0.121 EUR|
|Japanese Yen||Pound Sterling||1 JPY = 0.817 GBP||1 GBP = 1.223 JPY|
|Japanese Yen||Australian Dollar||1 JPY = 1.206 AUD||1 AUD = 0.829 JPY|
|Japanese Yen||Canadian Dollar||1 JPY = 1.290 CAD||1 CAD = 0.775 JPY|
|Japanese Yen||Swiss Franc||1 JPY = 1.180 CHF||1 CHF = 0.847 JPY|
|Pound Sterling||Australian Dollar||1 GBP = 1.476 AUD||1 AUD = 0.678 GBP|
|Pound Sterling||Canadian Dollar||1 GBP = 1.577 CAD||1 CAD = 0.634 GBP|
|Pound Sterling||Swiss Franc||1 GBP = 1.443 CHF||1 CHF = 0.693 GBP|
|Pound Sterling||Chinese Yuan||1 GBP = 9.908 CNY||1 CNY = 0.101 GBP|
|Australian Dollar||Canadian Dollar||1 AUD = 1.069 CAD||1 CAD = 0.936 AUD|
|Australian Dollar||Swiss Franc||1 AUD = 0.978 CHF||1 CHF = 1.023 AUD|
|Australian Dollar||Chinese Yuan||1 AUD = 6.710 CNY||1 CNY = 0.149 AUD|
|Canadian Dollar||Swiss Franc||1 CAD = 0.915 CHF||1 CHF = 1.093 CAD|
|Canadian Dollar||Chinese Yuan||1 CAD = 6.278 CNY||1 CNY = 0.159 CAD|
|Swiss Franc||Chinese Yuan||1 CHF = 6.860 CNY||1 CNY = 0.146 CHF|