Financial news on December 13, 2013
Business and Financial news
Advertising column examines new effort from Hennessy that combines a traditional campaign in Vanity Fair with so-called native advertising, ads made to look like the magazine's editorial content. Read more..
Volkswagen, facing stagnating sales in United States even as rest of industry has surged, announces resignation of Jonathan Browning as chief executive of American division; Browning will be replaced by company stalwart Michael Horn. Read more..
Streaming music services like Spotify, Pandora and iTunes Radio have begun delivering billions of hours of music to millions of consumers, indicating systemic change for the beleaguered music industry; yet even as they have grown, companies have yet to turn a profit, finding that most consumers are loathe to pay for their services. Read more..
Adam Bryant Corner Office column features interview with Carla Cooper, chief executive of private-brand development company Daymon Worldwide, who discusses her career and management technique. Read more..
Floyd Norris High & Low finance column holds that flurry of massive fines for big banks, culminating in $13 billion penalty for JPMorgan Chase, indicates lasting suspicion following financial crisis; notes that banks have gone from being viewed as national champions to a potential source of national disaster. Read more..
Yoga apparel maker Lululemon Athletica announces third-quarter earnings, lowering its yearly forecast and saying it expects same-store sales to be flat in fourth quarter; reports profit of $66.1 million, or 45 cents per share, up from $57 million on year earlier; revenue increased 20 percent in third-quarter, up to $379.9 million. Read more..
Stocks fall to their lowest level in a month as investors worry that end may be near for the Federal Reserve's support for the economy. Read more..
Some European bankers making more than 500,000 euros a year may be able to avoid caps on their bonus compensation under new draft rules. Read more..
Saturday Night Live executive producer Lorne Michaels, responding to widespread criticism over glaring absence of black female cast member, holds special audition to find such a performer who will join cast beginning in January 2014. Read more..
Although none of the plug-in diesel-electric hybrid cars will sell in the United States, VW’s innovative car may be a harbinger of things to come. Read more..
Values are reported in US Dollars
|Wells Fargo & Co.||WFC||43.52||43.83||43.49||43.73||14.1M|
|Johnson & Johnson||JNJ||91.46||91.86||91.08||91.35||7.91M|
|Procter & Gamble||PG||82.32||82.46||81.56||82.37||7.44M|
|Walt Disney & Co.||DIS||69.90||70.13||69.28||69.62||5.78M|
|International Business Machines||IBM||173.52||174.38||172.73||172.80||4.18M|
Exchange Rates of December 13, 2013
|US Dollar||Japanese Yen||1 USD = 103.210 JPY||1 JPY = 0.010 USD|
|US Dollar||Canadian Dollar||1 USD = 1.058 CAD||1 CAD = 0.945 USD|
|US Dollar||Swiss Franc||1 USD = 0.889 CHF||1 CHF = 1.125 USD|
|US Dollar||Chinese Yuan||1 USD = 6.071 CNY||1 CNY = 0.165 USD|
|Euro||Japanese Yen||1 EUR = 141.810 JPY||1 JPY = 0.007 EUR|
|Euro||Pound Sterling||1 EUR = 0.843 GBP||1 GBP = 1.186 EUR|
|Euro||Australian Dollar||1 EUR = 1.532 AUD||1 AUD = 0.653 EUR|
|Euro||Canadian Dollar||1 EUR = 1.454 CAD||1 CAD = 0.688 EUR|
|Euro||Swiss Franc||1 EUR = 1.222 CHF||1 CHF = 0.819 EUR|
|Euro||Chinese Yuan||1 EUR = 8.342 CNY||1 CNY = 0.120 EUR|
|Japanese Yen||Pound Sterling||1 JPY = 0.594 GBP||1 GBP = 1.683 JPY|
|Japanese Yen||Australian Dollar||1 JPY = 1.080 AUD||1 AUD = 0.926 JPY|
|Japanese Yen||Canadian Dollar||1 JPY = 1.025 CAD||1 CAD = 0.976 JPY|
|Japanese Yen||Swiss Franc||1 JPY = 0.861 CHF||1 CHF = 1.161 JPY|
|Pound Sterling||Australian Dollar||1 GBP = 1.818 AUD||1 AUD = 0.550 GBP|
|Pound Sterling||Canadian Dollar||1 GBP = 1.725 CAD||1 CAD = 0.580 GBP|
|Pound Sterling||Swiss Franc||1 GBP = 1.449 CHF||1 CHF = 0.690 GBP|
|Pound Sterling||Chinese Yuan||1 GBP = 9.892 CNY||1 CNY = 0.101 GBP|
|Australian Dollar||Canadian Dollar||1 AUD = 0.948 CAD||1 CAD = 1.055 AUD|
|Australian Dollar||Swiss Franc||1 AUD = 0.797 CHF||1 CHF = 1.255 AUD|
|Australian Dollar||Chinese Yuan||1 AUD = 5.445 CNY||1 CNY = 0.184 AUD|
|Canadian Dollar||Swiss Franc||1 CAD = 0.840 CHF||1 CHF = 1.191 CAD|
|Canadian Dollar||Chinese Yuan||1 CAD = 5.737 CNY||1 CNY = 0.174 CAD|
|Swiss Franc||Chinese Yuan||1 CHF = 6.827 CNY||1 CNY = 0.146 CHF|