Financial news on July 11, 2014

Business and Financial news
Amazon Asks Permission From F.A.A. to Test Drone Delivery System

Amazon is getting serious about delivery by drones, and asked the F.A.A. for special permission to test them outdoors. Read more..

By DAVID STREITFELD - The New York Times

Big Tobacco Getting Bigger: A Brief History of Deal Making

Since facing a wave of litigation in the 1980s and ’90s over the health consequences of smoking, tobacco companies have sought to reposition themselves through mergers and acquisitions. Read more..

By WILLIAM ALDEN - The New York Times

Blackstone to Buy a Wealth Management Business

The insurer Friends Life Group, based on the Channel Island of Guernsey, agreed to sell its Luxembourg-based wealth management arm for about $610 million. Read more..

By CHAD BRAY - The New York Times

Drug Makers AbbVie and Shire Officials Meet to Discuss Merger

The talks follow AbbVie’s revised offer to pay about $51 billion for Shire, which has its headquarters in Ireland and is listed in London. Shire confirmed the talks on Friday but did not provide details of the discussions. Read more..

By CHAD BRAY - The New York Times

In U.S. Data, a Baffling Contradiction

Floyd Norris High & Low Finance column scrutinizes contradictory government report saying first quarter of 2014 was worst for United States economy since 2009, but that hiring was at its highest rate in over six years, signaling a strengthening economy. Read more..

By FLOYD NORRIS - The New York Times

Parliament Committee Criticizes Handling of Royal Mail I.P.O. in Britain

A committee said that government officials underestimated the potential market value of the Royal Mail when it was privatized in October and relied too heavily on the judgment of outside advisers. Read more..

By CHAD BRAY - The New York Times

Pew Study Finds a Sharp Drop in Reporters at Statehouses

Study by Pew Research Center finds that country's state capitals have lost more than one-third of newspaper journalists devoted to covering legislative matters full time; also shows that nontraditional news organizations have added journalists at statehouses. Read more..

By CHRISTINE HAUGHNEY - The New York Times

Silver Lake to Pay $29.5 Million to Settle Suit on Collusion

The private equity firm is the third defendant to settle accusations in the nearly seven-year-old lawsuit, which contends that a group of private equity’s top firms were unofficial partners in an illegal conspiracy to reduce competition. Read more..

By WILLIAM ALDEN - The New York Times

Today in Small Business: Myths About Managing Millennials

Have you heard about the latest management craze to sweep Silicon Valley? It’s called “holacracy.” Read more..

By GENE MARKS - The New York Times

U.S. Jobless Claims Fall to Lowest Level Since Before Recession

Labor Dept reports that applications for weekly unemployment benefits fell to one of its lowest levels since before the 2007-9 recession, sign of increasing health in labor market; says initial claims dropped by 11,000, to seasonally adjusted 304,000 for week ending July 5, 2014. Read more..

By REUTERS - The New York Times

Stock Markets

Values are reported in US Dollars

Stock Ticker symbol Open High Low Close Volume
Facebook FB 65.28 66.59 64.79 66.34 39.2M
General Electric GE 26.19 26.55 26.12 26.55 35.4M
Apple AAPL 95.36 95.89 94.86 95.22 34M
Wells Fargo & Co. WFC 51.13 51.67 50.82 51.49 30M
Microsoft MSFT 41.70 42.09 41.48 42.09 24.1M
Cisco Systems CSCO 25.52 25.65 25.44 25.52 20.9M
Intel INTC 31.26 31.45 31.04 31.25 20M
Pfizer PFE 30.04 30.12 29.80 30.07 18.4M
Verizon Communications VZ 49.85 50.43 49.67 50.32 17.7M
Oracle Corp. ORCL 40.49 40.49 39.98 40.13 11.9M
AT&T Inc. T 35.72 35.83 35.57 35.76 11.6M
Gilead Sciences GILD 88.90 89.98 88.25 88.73 11.3M
JPMorgan Chase JPM 55.29 55.91 55.19 55.80 10.2M
Altria MO 43.53 43.60 43.02 43.43 9.92M
Coca-Cola KO 42.12 42.25 41.88 41.97 9.77M
Amazon AMZN 334.71 347.00 334.71 346.20 8.3M
ExxonMobil XOM 102.40 102.50 101.32 101.74 7.68M
Procter & Gamble PG 81.06 81.57 81.00 81.16 7.52M
Comcast CMCSA 54.31 54.64 54.17 54.55 7.05M
HP Inc. HPQ 33.93 34.18 33.89 33.97 6.46M
General Motors GM 37.72 38.01 37.59 37.95 6.2M
Merck MRK 58.65 58.74 58.16 58.44 6.11M
Johnson & Johnson JNJ 105.84 106.01 104.86 105.10 5.46M
Chevron CVX 129.13 129.89 128.03 128.47 5.24M
Abbott Laboratories ABT 41.09 41.36 40.98 41.30 5.08M
Walt Disney & Co. DIS 87.00 87.36 86.37 86.89 5.02M
ConocoPhillips COP 85.52 85.61 84.44 84.73 4.88M
Schlumberger SLB 115.31 115.46 114.13 114.70 4.83M
Home Depot HD 79.59 79.90 79.21 79.61 4.75M
Wal-Mart Stores WMT 76.87 76.97 76.56 76.82 4.55M
Bristol-Myers Squibb BMY 48.40 48.70 48.27 48.62 3.76M
United Technologies UTX 113.80 114.55 113.54 114.13 3.7M
Pepsico PEP 89.93 90.21 89.45 89.85 3.66M
Boeing BA 127.18 128.24 126.36 128.09 3.19M
McDonald's MCD 100.66 100.81 100.03 100.37 2.81M
UnitedHealth Group UNH 81.92 83.13 81.73 82.87 2.76M
Amgen AMGN 120.43 120.80 119.11 119.77 2.73M
International Business Machines IBM 187.73 188.35 186.71 188.00 2.4M
Union Pacific UNP 99.66 100.43 99.55 100.27 2.09M
3M MMM 144.14 144.49 143.54 144.31 1.91M
Berkshire Hathaway BRK.B 128.30 128.72 127.93 128.63 1.82M
Alphabet GOOGL 581.00 588.23 580.58 586.65 1.51M
Visa V 215.95 217.04 214.37 217.00 1.42M
Exchange Rates of July 11, 2014
CurrenciesExchange Rates
US Dollar Japanese Yen 1 USD = 101.240 JPY 1 JPY = 0.010 USD
US Dollar Canadian Dollar 1 USD = 1.073 CAD 1 CAD = 0.932 USD
US Dollar Swiss Franc 1 USD = 0.892 CHF 1 CHF = 1.121 USD
US Dollar Chinese Yuan 1 USD = 6.203 CNY 1 CNY = 0.161 USD
Euro Japanese Yen 1 EUR = 137.790 JPY 1 JPY = 0.007 EUR
Euro Pound Sterling 1 EUR = 0.795 GBP 1 GBP = 1.258 EUR
Euro Australian Dollar 1 EUR = 1.448 AUD 1 AUD = 0.690 EUR
Euro Canadian Dollar 1 EUR = 1.460 CAD 1 CAD = 0.685 EUR
Euro Swiss Franc 1 EUR = 1.214 CHF 1 CHF = 0.824 EUR
Euro Chinese Yuan 1 EUR = 8.440 CNY 1 CNY = 0.118 EUR
Japanese Yen Pound Sterling 1 JPY = 0.577 GBP 1 GBP = 1.734 JPY
Japanese Yen Australian Dollar 1 JPY = 1.050 AUD 1 AUD = 0.952 JPY
Japanese Yen Canadian Dollar 1 JPY = 1.059 CAD 1 CAD = 0.944 JPY
Japanese Yen Swiss Franc 1 JPY = 0.880 CHF 1 CHF = 1.136 JPY
Pound Sterling Australian Dollar 1 GBP = 1.821 AUD 1 AUD = 0.549 GBP
Pound Sterling Canadian Dollar 1 GBP = 1.837 CAD 1 CAD = 0.544 GBP
Pound Sterling Swiss Franc 1 GBP = 1.527 CHF 1 CHF = 0.655 GBP
Pound Sterling Chinese Yuan 1 GBP = 10.611 CNY 1 CNY = 0.094 GBP
Australian Dollar Canadian Dollar 1 AUD = 1.008 CAD 1 CAD = 0.992 AUD
Australian Dollar Swiss Franc 1 AUD = 0.838 CHF 1 CHF = 1.194 AUD
Australian Dollar Chinese Yuan 1 AUD = 5.827 CNY 1 CNY = 0.172 AUD
Canadian Dollar Swiss Franc 1 CAD = 0.830 CHF 1 CHF = 1.204 CAD
Canadian Dollar Chinese Yuan 1 CAD = 5.781 CNY 1 CNY = 0.173 CAD
Swiss Franc Chinese Yuan 1 CHF = 6.953 CNY 1 CNY = 0.144 CHF

See what else happened on July 11, 2014