Financial news on August 12th, 2010

Business and Financial news
At FreshDirect, Reinvention After a Crisis

To improve operations, the online grocer has created a real-time database to follow every step — and misstep — of each business day. Read more..

By JESSICA BRUDER - The New York Times

G.M. Posts $1.3 Billion Profit as I.P.O. Nears

General Motors on Thursday reported a $1.3 billion second-quarter profit as it prepared to file for an initial public offering. Read more..

By DEALBOOK - The New York Times

G.M. Said to Be Close to Stock Offering

G.M. is expected to report a second-quarter profit of $1 billion or more on Thursday, setting the stage for the long-awaited filing, which could come as soon as Friday. Read more..

By NICK BUNKLEY and MICHAEL J. de la MERCED - The New York Times

Market Drop Worldwide Signals Fears on Recovery

As economic recovery wavers in the United States, evidence is mounting that growth abroad is also slowing and may be unable to sustain the fragile rebound here. Read more..

By DEALBOOK - The New York Times

MetLife and Prudential Under Scrutiny in Georgia

MetLife and Prudential Financial, the two biggest life insurers in the United States, are being investigated by the Georgia state regulator for earning investment income by retaining death benefits, Bloomberg News reported. Read more..

By DEALBOOK - The New York Times

Missing Buttons in Outlook

A missing Send button on the e-mail toolbar, a laptop that shuts itself down and ways to weed out duplicate tunes in an iTunes library. Read more..

By J. D. BIERSDORFER - The New York Times

Profit Strong, G.M. Names a New Chief

A transition at the top, for a successor chosen by General Motors’ board, was taken as a sign of the government’s shrinking role in the automaker. Read more..

By BILL VLASIC - The New York Times

The 30-Year Prison

As policy makers search for a resolution to the mortgage crisis, they need to recognize a critical aspect of the problem: today’s mortgages are designed for yesterday’s borrowers, writes Katherine V. W. Stone in an Op-Ed for the New York Times. Read more..

By DEALBOOK - The New York Times

Wall St. Bonuses Are Expected to Rise This Year

Wall Street bonuses are likely rise this year, despite regulatory pressure over compensation, as the financial sector recovers from recession faster than the broader American economy, according to a compensation consulting firm. Read more..

By DEALBOOK - The New York Times

When the Fed Speaks

The Federal Reserve policy committee said on Tuesday that the economy had slowed recently and was not expected to improve anytime soon. In an editorial, The New York Times looks at the markets’ response. Read more..

By DEALBOOK - The New York Times

Stock Markets

Values are reported in US Dollars

StockTicker symbolOpenHighLowCloseVolume
Cisco SystemsCSCO21.4221.6121.0021.36227M
General ElectricGE15.4215.6815.3415.5058.2M
HP Inc.HPQ40.2340.4739.9540.1452.7M
JPMorgan ChaseJPM37.3637.9937.2237.8135.4M
Oracle Corp.ORCL23.2423.3922.7322.9433.7M
Wells Fargo & Co.WFC26.0026.3925.8726.0031.9M
Verizon CommunicationsVZ29.3830.3829.2330.3230.9M
AT&T Inc.T26.4626.9526.4026.6630.5M
Wal-Mart StoresWMT50.5650.7850.0150.4312.8M
Walt Disney & Co.DIS33.8534.3033.7133.9911.8M
Procter & GamblePG59.9960.4859.3859.9911.6M
Home DepotHD27.5327.7527.3127.619.89M
Gilead SciencesGILD34.0834.8134.0034.669.68M
Abbott LaboratoriesABT49.9150.5449.7350.399.21M
UnitedHealth GroupUNH31.7132.2431.5732.139M
Johnson & JohnsonJNJ58.1558.7158.1058.528.24M
Bristol-Myers SquibbBMY26.0126.3926.0026.337.35M
International Business MachinesIBM127.69128.78127.52128.305.13M
Berkshire HathawayBRK.B77.0077.4976.6477.024.14M
United TechnologiesUTX70.3570.9470.2970.582.86M
Union PacificUNP73.3874.0572.5173.822.55M
Exchange Rates of August 12th, 2010
CurrenciesExchange Rates
US DollarJapanese Yen1 USD = 85.860 JPY1 JPY = 0.012 USD
US DollarCanadian Dollar1 USD = 1.042 CAD1 CAD = 0.960 USD
US DollarSwiss Franc1 USD = 1.050 CHF1 CHF = 0.952 USD
US DollarChinese Yuan1 USD = 6.785 CNY1 CNY = 0.147 USD
EuroJapanese Yen1 EUR = 110.140 JPY1 JPY = 0.009 EUR
EuroPound Sterling1 EUR = 0.823 GBP1 GBP = 1.214 EUR
EuroAustralian Dollar1 EUR = 1.431 AUD1 AUD = 0.699 EUR
EuroCanadian Dollar1 EUR = 1.337 CAD1 CAD = 0.748 EUR
EuroSwiss Franc1 EUR = 1.347 CHF1 CHF = 0.743 EUR
EuroChinese Yuan1 EUR = 8.704 CNY1 CNY = 0.115 EUR
Japanese YenPound Sterling1 JPY = 0.747 GBP1 GBP = 1.338 JPY
Japanese YenAustralian Dollar1 JPY = 1.299 AUD1 AUD = 0.770 JPY
Japanese YenCanadian Dollar1 JPY = 1.213 CAD1 CAD = 0.824 JPY
Japanese YenSwiss Franc1 JPY = 1.222 CHF1 CHF = 0.818 JPY
Pound SterlingAustralian Dollar1 GBP = 1.737 AUD1 AUD = 0.576 GBP
Pound SterlingCanadian Dollar1 GBP = 1.623 CAD1 CAD = 0.616 GBP
Pound SterlingSwiss Franc1 GBP = 1.635 CHF1 CHF = 0.612 GBP
Pound SterlingChinese Yuan1 GBP = 10.556 CNY1 CNY = 0.095 GBP
Australian DollarCanadian Dollar1 AUD = 0.934 CAD1 CAD = 1.071 AUD
Australian DollarSwiss Franc1 AUD = 0.940 CHF1 CHF = 1.064 AUD
Australian DollarChinese Yuan1 AUD = 6.077 CNY1 CNY = 0.165 AUD
Canadian DollarSwiss Franc1 CAD = 1.007 CHF1 CHF = 0.993 CAD
Canadian DollarChinese Yuan1 CAD = 6.509 CNY1 CNY = 0.154 CAD
Swiss FrancChinese Yuan1 CHF = 6.462 CNY1 CNY = 0.155 CHF

See what else happened on August 12th, 2010