Financial news on December 13th, 2013

Business and Financial news
A Message That Tries to Blend In

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..

By STUART ELLIOTT - The New York Times

As Sales Lag, VW Picks a New Leader for U.S.

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..

By JACLYN TROP - The New York Times

A Stream of Music, Not Revenue

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..

By BEN SISARIO - The New York Times

Carla Cooper, Chief of Daymon Worldwide, on Setting the Right Course

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..

By ADAM BRYANT - The New York Times

It’s Hard to Summon Sympathy for Big Banks

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..

By FLOYD NORRIS - The New York Times

Lululemon Posts a Profit, but Lowers Yearly Forecast

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..

By ELIZABETH A. HARRIS - The New York Times

Markets Fall Again in ‘Taper Mania’ Over Fed

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..


Regulator Leaves Loophole for Some Bankers to Avoid E.U. Bonus Caps

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..

By CHAD BRAY - The New York Times

‘S.N.L.’ to Add Black Female Performer

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..

By BILL CARTER - The New York Times

The Volkswagen XL1: A Possible View of Tomorrow

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..

By BENJAMIN PRESTON - The New York Times

Stock Markets

Values are reported in US Dollars

StockTicker symbolOpenHighLowCloseVolume
Cisco SystemsCSCO20,5820,5820,2220,2451.9M
General ElectricGE26,5926,9426,5126,8439.8M
AT&T Inc.T33,8833,9533,6033,8524.9M
Oracle Corp.ORCL33,6633,7033,2233,2318.2M
General MotorsGM40,1940,3540,0240,0414.9M
Wells Fargo & Co.WFC43,5243,8343,4943,7314.1M
Verizon CommunicationsVZ48,1148,1747,5247,8411.9M
HP Inc.HPQ26,6726,8826,2926,7711.8M
JPMorgan ChaseJPM56,3756,5656,0456,1711.5M
Gilead SciencesGILD71,2171,6270,1471,4011.3M
Johnson & JohnsonJNJ91,4691,8691,0891,357.91M
Procter & GamblePG82,3282,4681,5682,377.44M
Home DepotHD79,0979,5778,5279,016.03M
Walt Disney & Co.DIS69,9070,1369,2869,625.78M
Bristol-Myers SquibbBMY50,7150,8750,1150,735.36M
Wal-Mart StoresWMT78,7378,7777,9378,084.98M
UnitedHealth GroupUNH71,2071,8670,4670,484.74M
Abbott LaboratoriesABT36,3836,6136,3036,404.67M
United TechnologiesUTX106,16107,89105,90107,354.52M
International Business MachinesIBM173,52174,38172,73172,804.18M
Berkshire HathawayBRK.B114,38115,03113,99114,062.98M
Union PacificUNP161,33162,33160,46160,751.29M
Exchange Rates of December 13th, 2013
CurrenciesExchange Rates
US DollarJapanese Yen1 USD = 103,210 JPY1 JPY = 0,010 USD
US DollarCanadian Dollar1 USD = 1,058 CAD1 CAD = 0,945 USD
US DollarSwiss Franc1 USD = 0,889 CHF1 CHF = 1,125 USD
US DollarChinese Yuan1 USD = 6,071 CNY1 CNY = 0,165 USD
EuroJapanese Yen1 EUR = 141,810 JPY1 JPY = 0,007 EUR
EuroPound Sterling1 EUR = 0,843 GBP1 GBP = 1,186 EUR
EuroAustralian Dollar1 EUR = 1,532 AUD1 AUD = 0,653 EUR
EuroCanadian Dollar1 EUR = 1,454 CAD1 CAD = 0,688 EUR
EuroSwiss Franc1 EUR = 1,222 CHF1 CHF = 0,819 EUR
EuroChinese Yuan1 EUR = 8,342 CNY1 CNY = 0,120 EUR
Japanese YenPound Sterling1 JPY = 0,594 GBP1 GBP = 1,683 JPY
Japanese YenAustralian Dollar1 JPY = 1,080 AUD1 AUD = 0,926 JPY
Japanese YenCanadian Dollar1 JPY = 1,025 CAD1 CAD = 0,976 JPY
Japanese YenSwiss Franc1 JPY = 0,861 CHF1 CHF = 1,161 JPY
Pound SterlingAustralian Dollar1 GBP = 1,818 AUD1 AUD = 0,550 GBP
Pound SterlingCanadian Dollar1 GBP = 1,725 CAD1 CAD = 0,580 GBP
Pound SterlingSwiss Franc1 GBP = 1,449 CHF1 CHF = 0,690 GBP
Pound SterlingChinese Yuan1 GBP = 9,892 CNY1 CNY = 0,101 GBP
Australian DollarCanadian Dollar1 AUD = 0,948 CAD1 CAD = 1,055 AUD
Australian DollarSwiss Franc1 AUD = 0,797 CHF1 CHF = 1,255 AUD
Australian DollarChinese Yuan1 AUD = 5,445 CNY1 CNY = 0,184 AUD
Canadian DollarSwiss Franc1 CAD = 0,840 CHF1 CHF = 1,191 CAD
Canadian DollarChinese Yuan1 CAD = 5,737 CNY1 CNY = 0,174 CAD
Swiss FrancChinese Yuan1 CHF = 6,827 CNY1 CNY = 0,146 CHF

See what else happened on December 13th, 2013