Financial news on June 11th, 2012
Business and Financial news
Europe again avoids financial chaos with an agreement to bail out Spain's struggling banks; while the Spanish banking rescue will be expensive, as much as $125 billion, it is within the means of a European emergency fund established for such purposes; far harder to calculate are the costs if, after Greek elections, the new government reneges on the bailout Greece negotiated with its European lenders months earlier, which could lead to its withdrawal from the euro zone. Read more..
The recent downturn left the median American family in 2010 with no more wealth than in the early 1990s, erasing almost two decades of accumulated prosperity, the Federal Reserve said. Read more..
Apps have become vital in marketing mobile technologies to consumers and the allegiance of app developers to Apple has helped propel the success of its devices, even as smartphones running Google's Android operating system outsell iPhones more than two to one; Apple will seek to strengthen its ties to mobile developers with a series of product announcements at its developer conference in San Francisco. Read more..
News analysis; European bailout of Spain's wobbling banks will do little to address a weakness common to Europe’s financial institutions: an addiction to outside loans that provide day-to-day financing; investors and analysts worry that highly indebted banks in other weak countries like Italy might face constraints similar to those of Spain in the months ahead. Read more..
Breach and data theft of LinkedIn's site surprises customers and security experts, who are amazed by company's bare-bones approach to security; breach highlights disturbing truth that companies with customer data continue to gamble on their own computer security, even as the break-ins increase. Read more..
Account assignments, executive appointments and miscellaneous news from advertising agencies. Read more..
Despite relief at avoiding a banking meltdown, Prime Minister Mariano Rajoy warned of more pain as Madrid pushes ahead with austerity cuts. Read more..
June 11, 2012 - Gretchen Morgenson explains the Spanish housing crisis. Read more..
Values are reported in US Dollars
|Wells Fargo & Co.||WFC||31,65||31,94||30,96||30,99||26.9M|
|Johnson & Johnson||JNJ||62,97||63,03||62,11||62,12||12.2M|
|Walt Disney & Co.||DIS||46,35||46,63||45,73||45,80||7.91M|
|Procter & Gamble||PG||62,99||63,06||62,50||62,54||6.35M|
|International Business Machines||IBM||196,60||196,70||192,37||192,51||3.27M|
Exchange Rates of June 11th, 2012
|US Dollar||Japanese Yen||1 USD = 79,390 JPY||1 JPY = 0,013 USD|
|US Dollar||Canadian Dollar||1 USD = 1,032 CAD||1 CAD = 0,969 USD|
|US Dollar||Swiss Franc||1 USD = 0,963 CHF||1 CHF = 1,038 USD|
|US Dollar||Chinese Yuan||1 USD = 6,369 CNY||1 CNY = 0,157 USD|
|Euro||Japanese Yen||1 EUR = 98,970 JPY||1 JPY = 0,010 EUR|
|Euro||Pound Sterling||1 EUR = 0,806 GBP||1 GBP = 1,241 EUR|
|Euro||Australian Dollar||1 EUR = 1,265 AUD||1 AUD = 0,791 EUR|
|Euro||Canadian Dollar||1 EUR = 1,286 CAD||1 CAD = 0,777 EUR|
|Euro||Swiss Franc||1 EUR = 1,201 CHF||1 CHF = 0,833 EUR|
|Euro||Chinese Yuan||1 EUR = 7,892 CNY||1 CNY = 0,127 EUR|
|Japanese Yen||Pound Sterling||1 JPY = 0,814 GBP||1 GBP = 1,229 JPY|
|Japanese Yen||Australian Dollar||1 JPY = 1,277 AUD||1 AUD = 0,783 JPY|
|Japanese Yen||Canadian Dollar||1 JPY = 1,299 CAD||1 CAD = 0,770 JPY|
|Japanese Yen||Swiss Franc||1 JPY = 1,213 CHF||1 CHF = 0,824 JPY|
|Pound Sterling||Australian Dollar||1 GBP = 1,569 AUD||1 AUD = 0,637 GBP|
|Pound Sterling||Canadian Dollar||1 GBP = 1,597 CAD||1 CAD = 0,626 GBP|
|Pound Sterling||Swiss Franc||1 GBP = 1,490 CHF||1 CHF = 0,671 GBP|
|Pound Sterling||Chinese Yuan||1 GBP = 9,792 CNY||1 CNY = 0,102 GBP|
|Australian Dollar||Canadian Dollar||1 AUD = 1,017 CAD||1 CAD = 0,983 AUD|
|Australian Dollar||Swiss Franc||1 AUD = 0,950 CHF||1 CHF = 1,053 AUD|
|Australian Dollar||Chinese Yuan||1 AUD = 6,240 CNY||1 CNY = 0,160 AUD|
|Canadian Dollar||Swiss Franc||1 CAD = 0,933 CHF||1 CHF = 1,072 CAD|
|Canadian Dollar||Chinese Yuan||1 CAD = 6,130 CNY||1 CNY = 0,163 CAD|
|Swiss Franc||Chinese Yuan||1 CHF = 6,570 CNY||1 CNY = 0,152 CHF|