Financial news on April 11, 2012

Business and Financial news
A Tax Code of Politics, Not Reason

There are more efficient, simpler ways to collect money, but history suggests we won’t really consider these alternatives. Read more..

By EDUARDO PORTER - The New York Times

Business Day Live | April 11, 2012

Watching for a rebound in stock markets; a Realtor’s view on proposals to forgive mortgage debt; and the billion-dollar turning point for mobile apps. Read more..

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

Denny’s Uses Web Series to Speak to Young Adults

Andrew Adam Newman Advertising column on Denny's efforts to pitch to consumers aged 18 to 25; company is producing a Web series that is decidedly provocative; online advertising push is a stark contrast from the chain's traditional advertising, which is humorous but far from edgy, befitting a family restaurant. Read more..

By ANDREW ADAM NEWMAN - The New York Times

Fuel to Burn: Now What?

Unexpected abundance of domestic energy supplies in the United States has upended calculations about the country's future, including its foreign policy and economy; cheaper domestic fuel could reduce manufacturing costs, improve the auto market and provide new jobs, while posing unknown environmental challenges and dampening enthusiasm for alternative energy. Read more..

By JAD MOUAWAD - The New York Times

Growth Is Expected in G.D.P. as Wholesale Inventories Rise

Analysts raise their estimates for first-quarter economic growth as the Commerce Department reports a solid rise in wholesale inventories in February; total wholesale inventories increased 0.9 percent to a record $478.9 billion, after an upward revision of 0.6 percent in January. Read more..

By REUTERS - The New York Times

I.B.M. Aims to Sharply Simplify Corporate Data Center Technology

IBM is introducing PureSystems in an effort to simplify corporate data centers, long considered the laggards of information technology; initiative will sell bundles of server hardware and software packaged in simplified systems with setup and maintenance automated by intelligent software; so-called expert integrated systems are the result of a $2 billion investment in research and development and acquisitions over the last four years. Read more..

By STEVE LOHR - The New York Times

Renewable Sources of Power Survive, but in a Patchwork

Plummeting natural gas prices have diminished public support and federal funding for alternative energies like wind and solar power, but a number of projects continue to move forward. Read more..

By DIANE CARDWELL - The New York Times

St. Jude Is Rebuffed Over Report on Device

HeartRhythm medical journal rejects St Jude Medical's request that it retract a published report that found that 20 deaths were linked to failures of a heart device component made by the company; setback for St Jude sends its stock falling further, amid reports involving other failures of the same component, a lead connecting a defibrillator to a patient's heart. Read more..

By BARRY MEIER - The New York Times

Subtly Selling ‘Green’ to the Flat-Screen Crowd

Energy-efficient flat screen televisions, along with other appliances, are being marketed for their cutting-edge technology rather than their merit as green products; advertisers shifted their focus after appeals to environmentalism failed to take hold among consumers. Read more..

By BRYN NELSON - The New York Times

Why Decades Can Pass Between Idea and ‘Eureka!’

Energy innovation requires uniquely long-term thinking, taking decades to impact the marketplace after a significant investment in initial capital; hydraulic fracturing was in development for more than 20 years before it revolutionized the American energy market with cheap natural gas. Read more..

By MATTHEW L. WALD - The New York Times

Stock Markets

Values are reported in US Dollars

StockTicker symbolOpenHighLowCloseVolume
MicrosoftMSFT30.4330.5330.2330.3543M
Cisco SystemsCSCO19.6820.0419.6220.0240.6M
General ElectricGE19.0219.1518.9819.0137.8M
PfizerPFE22.0722.1621.9221.9537.6M
JPMorgan ChaseJPM43.5944.2143.5744.0132.1M
Oracle Corp.ORCL28.4928.5528.0428.1430.4M
Wells Fargo & Co.WFC33.5133.9133.4233.6229.7M
IntelINTC27.6828.0027.6327.8526.7M
AppleAAPL636.20636.87623.34626.2024.9M
AT&T Inc.T30.3930.5130.2730.4521.6M
HP Inc.HPQ23.5123.5823.2423.4116.6M
ExxonMobilXOM83.1183.3582.1582.7015.9M
Abbott LaboratoriesABT59.8560.4159.5959.6614.1M
Verizon CommunicationsVZ37.0437.4637.0037.3812.5M
ConocoPhillipsCOP74.3974.7873.4273.5512.1M
AltriaMO31.1731.5031.1331.2110.9M
MerckMRK38.6138.7038.4038.4810.7M
Johnson & JohnsonJNJ64.6964.6963.9664.1310.4M
Bristol-Myers SquibbBMY32.6432.7832.5232.599.8M
General MotorsGM23.8424.2823.8224.039.26M
ComcastCMCSA28.8729.0828.7328.989.12M
SchlumbergerSLB68.7468.9068.0068.128.97M
ChevronCVX102.31102.45100.78100.958.57M
Wal-Mart StoresWMT60.2960.2959.6659.807.75M
Home DepotHD49.6849.9449.6149.757.63M
Procter & GamblePG66.7466.9266.3266.447.59M
Gilead SciencesGILD46.1446.5045.3345.426.58M
UnitedHealth GroupUNH58.0858.5457.8558.026.5M
McDonald'sMCD98.2998.7397.5098.566.37M
Walt Disney & Co.DIS41.5141.7041.2441.376.36M
Coca-ColaKO72.4372.4771.8472.126.01M
PepsicoPEP65.1865.4264.9665.155.38M
BoeingBA71.6372.5171.4971.775.1M
AlphabetGOOGL633.97636.00631.30635.964.39M
AmazonAMZN189.63191.97186.79187.974.34M
United TechnologiesUTX79.4480.0379.1379.633.71M
VisaV118.02118.95116.97117.383.54M
Berkshire HathawayBRK.B79.6079.6078.8479.053.53M
International Business MachinesIBM203.99204.32202.46202.583.37M
AmgenAMGN66.7567.0366.2966.733.13M
3MMMM85.3685.6985.1285.352.53M
Union PacificUNP106.34107.19105.62105.802.25M
Exchange Rates of April 11, 2012
CurrenciesExchange Rates
US DollarJapanese Yen1 USD = 80.860 JPY1 JPY = 0.012 USD
US DollarCanadian Dollar1 USD = 1.003 CAD1 CAD = 0.997 USD
US DollarSwiss Franc1 USD = 0.917 CHF1 CHF = 1.090 USD
US DollarChinese Yuan1 USD = 6.308 CNY1 CNY = 0.159 USD
EuroJapanese Yen1 EUR = 106.000 JPY1 JPY = 0.009 EUR
EuroPound Sterling1 EUR = 0.824 GBP1 GBP = 1.214 EUR
EuroAustralian Dollar1 EUR = 1.272 AUD1 AUD = 0.786 EUR
EuroCanadian Dollar1 EUR = 1.315 CAD1 CAD = 0.760 EUR
EuroSwiss Franc1 EUR = 1.203 CHF1 CHF = 0.832 EUR
EuroChinese Yuan1 EUR = 8.268 CNY1 CNY = 0.121 EUR
Japanese YenPound Sterling1 JPY = 0.777 GBP1 GBP = 1.287 JPY
Japanese YenAustralian Dollar1 JPY = 1.199 AUD1 AUD = 0.834 JPY
Japanese YenCanadian Dollar1 JPY = 1.241 CAD1 CAD = 0.806 JPY
Japanese YenSwiss Franc1 JPY = 1.134 CHF1 CHF = 0.882 JPY
Pound SterlingAustralian Dollar1 GBP = 1.543 AUD1 AUD = 0.648 GBP
Pound SterlingCanadian Dollar1 GBP = 1.596 CAD1 CAD = 0.627 GBP
Pound SterlingSwiss Franc1 GBP = 1.459 CHF1 CHF = 0.685 GBP
Pound SterlingChinese Yuan1 GBP = 10.033 CNY1 CNY = 0.100 GBP
Australian DollarCanadian Dollar1 AUD = 1.034 CAD1 CAD = 0.967 AUD
Australian DollarSwiss Franc1 AUD = 0.945 CHF1 CHF = 1.058 AUD
Australian DollarChinese Yuan1 AUD = 6.501 CNY1 CNY = 0.154 AUD
Canadian DollarSwiss Franc1 CAD = 0.914 CHF1 CHF = 1.094 CAD
Canadian DollarChinese Yuan1 CAD = 6.284 CNY1 CNY = 0.159 CAD
Swiss FrancChinese Yuan1 CHF = 6.873 CNY1 CNY = 0.146 CHF

See what else happened on April 11, 2012