Financial news on February 10, 2012

Business and Financial news
Banks Come First in a Greek Rescue Plan

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..

By FLOYD NORRIS - The New York Times

Central Banks in Europe Hold Line on Rates

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..

By JACK EWING and JULIA WERDIGIER - The New York Times

Federal Regulators Approve Two Nuclear Reactors in Georgia

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..

By MATTHEW L. WALD - The New York Times

Indonesia Confronts Drug Use Among Pilots

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..

By SARA SCHONHARDT - International Herald Tribune

Kodak Says It Will Stop Making Digital Cameras

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..

By THE ASSOCIATED PRESS - The New York Times

Lorillard’s Profit Increased 20%

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..

By THE ASSOCIATED PRESS - The New York Times

Markets Remain Cautious on Greek Developments

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..

By REUTERS - The New York Times

Nello Ferrara, Creator of Lemonheads Candy, Dies at 93

Nello Ferrara, the candy company executive who brought the world Lemonheads and Atomic FireBalls, dies at age 93. Read more..

By THE ASSOCIATED PRESS - The New York Times

Stock Markets

Values are reported in US Dollars

StockTicker symbolOpenHighLowCloseVolume
General ElectricGE18.9919.0118.7718.88110M
Cisco SystemsCSCO19.7920.0619.7319.9063.1M
ConocoPhillipsCOP71.6872.4771.4572.2546.1M
MicrosoftMSFT30.6430.8030.3630.5044.6M
IntelINTC26.7426.7926.4526.7033.6M
Oracle Corp.ORCL28.5528.6428.2828.5030.2M
PfizerPFE21.0021.0620.9021.0526.9M
AT&T Inc.T29.8229.9729.7029.8425M
JPMorgan ChaseJPM37.2237.7737.1137.6122.6M
AppleAAPL490.96497.62488.55493.4222.5M
Wells Fargo & Co.WFC30.1830.4030.0830.2620M
ExxonMobilXOM84.0284.1083.3583.8015.3M
Johnson & JohnsonJNJ64.7164.7764.2564.6014M
Verizon CommunicationsVZ37.7037.7537.5237.6912.5M
Abbott LaboratoriesABT55.0655.1554.8055.1111.5M
AltriaMO29.0529.2429.0129.2111.2M
ComcastCMCSA27.2627.3527.0027.1810.7M
PepsicoPEP64.1264.1963.6363.9510.7M
MerckMRK37.9438.0137.7837.9110.5M
Walt Disney & Co.DIS40.9441.4540.8341.4510.1M
HP Inc.HPQ28.9028.9928.4928.7010M
General MotorsGM25.4825.5225.2525.509.82M
Procter & GamblePG63.6063.9863.5563.888.3M
Bristol-Myers SquibbBMY31.7531.9431.6531.908.09M
Gilead SciencesGILD53.5953.9653.4253.757.25M
SchlumbergerSLB77.6978.0476.6277.177.21M
UnitedHealth GroupUNH52.5753.5052.3153.326.57M
ChevronCVX105.19105.52104.58105.286.14M
AmazonAMZN183.42187.63182.52185.545.8M
Wal-Mart StoresWMT61.6861.9161.3961.905.5M
Coca-ColaKO67.5367.9467.4267.945.5M
VisaV111.79114.00111.40113.905.47M
AmgenAMGN66.9067.3766.8067.365.26M
Home DepotHD44.9745.3344.9345.335.03M
Berkshire HathawayBRK.B78.8579.2878.5078.794.79M
AlphabetGOOGL607.88608.13604.00605.914.65M
United TechnologiesUTX82.9283.5082.6583.504.51M
McDonald'sMCD99.5299.6698.9499.473.87M
International Business MachinesIBM191.76192.43191.28192.423.39M
BoeingBA75.4575.5674.5774.953.36M
3MMMM87.2087.5686.7587.143.09M
Union PacificUNP112.00112.00110.53111.632.88M
Exchange Rates of February 10, 2012
CurrenciesExchange Rates
US DollarJapanese Yen1 USD = 77.590 JPY1 JPY = 0.013 USD
US DollarCanadian Dollar1 USD = 1.001 CAD1 CAD = 0.999 USD
US DollarSwiss Franc1 USD = 0.916 CHF1 CHF = 1.091 USD
US DollarChinese Yuan1 USD = 6.300 CNY1 CNY = 0.159 USD
EuroJapanese Yen1 EUR = 102.430 JPY1 JPY = 0.010 EUR
EuroPound Sterling1 EUR = 0.837 GBP1 GBP = 1.194 EUR
EuroAustralian Dollar1 EUR = 1.236 AUD1 AUD = 0.809 EUR
EuroCanadian Dollar1 EUR = 1.321 CAD1 CAD = 0.757 EUR
EuroSwiss Franc1 EUR = 1.209 CHF1 CHF = 0.827 EUR
EuroChinese Yuan1 EUR = 8.293 CNY1 CNY = 0.121 EUR
Japanese YenPound Sterling1 JPY = 0.817 GBP1 GBP = 1.223 JPY
Japanese YenAustralian Dollar1 JPY = 1.206 AUD1 AUD = 0.829 JPY
Japanese YenCanadian Dollar1 JPY = 1.290 CAD1 CAD = 0.775 JPY
Japanese YenSwiss Franc1 JPY = 1.180 CHF1 CHF = 0.847 JPY
Pound SterlingAustralian Dollar1 GBP = 1.476 AUD1 AUD = 0.678 GBP
Pound SterlingCanadian Dollar1 GBP = 1.577 CAD1 CAD = 0.634 GBP
Pound SterlingSwiss Franc1 GBP = 1.443 CHF1 CHF = 0.693 GBP
Pound SterlingChinese Yuan1 GBP = 9.908 CNY1 CNY = 0.101 GBP
Australian DollarCanadian Dollar1 AUD = 1.069 CAD1 CAD = 0.936 AUD
Australian DollarSwiss Franc1 AUD = 0.978 CHF1 CHF = 1.023 AUD
Australian DollarChinese Yuan1 AUD = 6.710 CNY1 CNY = 0.149 AUD
Canadian DollarSwiss Franc1 CAD = 0.915 CHF1 CHF = 1.093 CAD
Canadian DollarChinese Yuan1 CAD = 6.278 CNY1 CNY = 0.159 CAD
Swiss FrancChinese Yuan1 CHF = 6.860 CNY1 CNY = 0.146 CHF

See what else happened on February 10, 2012