Financial news on January 13, 2016

Business and Financial news
A Conversation With Moshe Shuster

Vivian Marino 30-Minute Interview with VRE Development president and founder Moshe Shuster; VRE, which does business as Victor Group, has number of condominium developments in Manhattan. Read more..

By VIVIAN MARINO - The New York Times

‘Bellwether’ G.M. Trial Opens Over Defect Claim

General Motors strongly questions veracity of story of man who was injured in 2014 crash and is suing company; civil trial is first of six 'bellwether' cases regarding defective ignition switches in many of company's vehicles. Read more..

By DANIELLE IVORY - The New York Times

California Beach City Enlists Private Partner to Rejuvenate Pier

Redondo Beach, Calif, is working with developer CenterCal Properties on $250 million, 35-acre redevelopment project geared toward making city destination that will vie with its beach city neighbors. Read more..

By LAUREN HERSTIK - The New York Times

California Rejects VW’s Diesel Recall Plan

California Air Resources Board rejects Volkswagen's proposal to fix its diesel engines, on which company used so-called defeat device to cheat diesel emissions tests, underscoring regulator's frustration with automaker's recall plan. Read more..

By JAD MOUAWAD - The New York Times

Daily Report: The Netflix-Amazon Connection

Which giant tech company does Netflix most take after? For some, the answer is Amazon. Read more..

By PUI-WING TAM - The New York Times

MetLife Weighs Split of Retail Business

MetLife announces it may spin off its retail life and annuity business in United States due to regulations put in place after insurer was deemed systemically important nonbank financial institution by Financial Stability Oversight Council. Read more..

By LIZ MOYER - The New York Times

New Corporate Raider Enters Picture, With Eye on a Sale of Ally

Hedge fund Lion Point Capital is calling for changes at Ally Financial, joining small group of activist investors who are trying to change practices at national, deposit-taking bank; efforts suggests activism will soon spread to other large institutions with lagging share prices, but also emphasizes obstacles activists face. Read more..


Republican Candidates Grapple With a Touchy Topic: Poverty

Eduardo Porter Economic Scene column assesses convention held in South Carolina for Republican presidential candidates to discuss issue of poverty; notes conservatives believe poverty is largely fault of government, despite lack of evidence for their views. Read more..

By EDUARDO PORTER - The New York Times

The Zappos Exodus Continues After a Radical Management Experiment

The departure of employees from the online shoe seller Zappos is continuing after the company adopted the radical self-management system Holacracy. Read more..

By DAVID GELLES - The New York Times

Volvo Makes a Comeback, With a Detour Through China

Volvo unveils new sedan and wins recognition for its first sports utility vehicle at annual North American International Auto Show in Detroit, illustrating how soaring demand is helping even smaller auto companies thrive. Read more..

By MARY M. CHAPMAN and BILL VLASIC - The New York Times

Stock Markets

Values are reported in US Dollars

StockTicker symbolOpenHighLowCloseVolume
General ElectricGE28,9129,0628,2028,2455.7M
AT&T Inc.T34,0134,3033,7333,7440.2M
Cisco SystemsCSCO25,4225,5224,5724,6033.4M
General MotorsGM31,8331,9030,0930,4931.6M
HP Inc.HPQ10,8310,9310,4410,5829.8M
JPMorgan ChaseJPM59,4659,6856,9157,3428.8M
Oracle Corp.ORCL35,1935,4033,8734,0828.3M
Wells Fargo & Co.WFC51,7351,8049,5049,7322M
Verizon CommunicationsVZ45,1145,2744,0844,1519.3M
Wal-Mart StoresWMT63,7363,7361,8361,9213.7M
Gilead SciencesGILD97,2598,0392,1292,5412.1M
Walt Disney & Co.DIS101,88101,8898,1298,4811.6M
Bristol-Myers SquibbBMY63,6064,4861,1961,289.71M
Procter & GamblePG76,9776,9975,7975,859.31M
Home DepotHD127,47127,47120,97121,408.93M
Union PacificUNP76,2076,8473,2173,858.62M
United TechnologiesUTX90,6790,6788,4188,838.59M
Johnson & JohnsonJNJ98,4998,9896,8497,028.29M
Berkshire HathawayBRK.B128,97129,38125,71126,256.04M
Abbott LaboratoriesABT41,4841,6940,1640,285.75M
International Business MachinesIBM133,50134,28131,10131,174.7M
UnitedHealth GroupUNH112,41113,04108,93109,233.43M
Exchange Rates of January 13, 2016
CurrenciesExchange Rates
US DollarEuro1 USD = 0,919 EUR1 EUR = 1,088 USD
US DollarJapanese Yen1 USD = 117,630 JPY1 JPY = 0,009 USD
US DollarPound Sterling1 USD = 0,694 GBP1 GBP = 1,442 USD
US DollarAustralian Dollar1 USD = 1,438 AUD1 AUD = 0,696 USD
US DollarCanadian Dollar1 USD = 1,434 CAD1 CAD = 0,697 USD
US DollarSwiss Franc1 USD = 1,006 CHF1 CHF = 0,994 USD
US DollarChinese Yuan1 USD = 6,574 CNY1 CNY = 0,152 USD
US DollarMexican Peso1 USD = 17,929 MXN1 MXN = 0,056 USD
US DollarSwidish Krona1 USD = 8,524 SEK1 SEK = 0,117 USD
EuroJapanese Yen1 EUR = 128,003 JPY1 JPY = 0,008 EUR
EuroPound Sterling1 EUR = 0,755 GBP1 GBP = 1,325 EUR
EuroAustralian Dollar1 EUR = 1,564 AUD1 AUD = 0,639 EUR
EuroCanadian Dollar1 EUR = 1,561 CAD1 CAD = 0,641 EUR
EuroSwiss Franc1 EUR = 1,095 CHF1 CHF = 0,913 EUR
EuroChinese Yuan1 EUR = 7,153 CNY1 CNY = 0,140 EUR
EuroMexican Peso1 EUR = 19,507 MXN1 MXN = 0,051 EUR
EuroSwidish Krona1 EUR = 9,277 SEK1 SEK = 0,108 EUR
Japanese YenPound Sterling1 JPY = 0,006 GBP1 GBP = 169,492 JPY
Japanese YenAustralian Dollar1 JPY = 0,012 AUD1 AUD = 81,967 JPY
Japanese YenCanadian Dollar1 JPY = 0,012 CAD1 CAD = 81,967 JPY
Japanese YenSwiss Franc1 JPY = 0,009 CHF1 CHF = 116,279 JPY
Japanese YenChinese Yuan1 JPY = 0,056 CNY1 CNY = 17,921 JPY
Japanese YenMexican Peso1 JPY = 0,152 MXN1 MXN = 6,562 JPY
Japanese YenSwidish Krona1 JPY = 0,072 SEK1 SEK = 13,812 JPY
Pound SterlingAustralian Dollar1 GBP = 2,072 AUD1 AUD = 0,483 GBP
Pound SterlingCanadian Dollar1 GBP = 2,068 CAD1 CAD = 0,484 GBP
Pound SterlingSwiss Franc1 GBP = 1,451 CHF1 CHF = 0,689 GBP
Pound SterlingChinese Yuan1 GBP = 9,481 CNY1 CNY = 0,105 GBP
Pound SterlingMexican Peso1 GBP = 25,837 MXN1 MXN = 0,039 GBP
Pound SterlingSwidish Krona1 GBP = 12,285 SEK1 SEK = 0,081 GBP
Australian DollarCanadian Dollar1 AUD = 0,998 CAD1 CAD = 1,002 AUD
Australian DollarSwiss Franc1 AUD = 0,700 CHF1 CHF = 1,429 AUD
Australian DollarChinese Yuan1 AUD = 4,574 CNY1 CNY = 0,219 AUD
Australian DollarMexican Peso1 AUD = 12,480 MXN1 MXN = 0,080 AUD
Australian DollarSwidish Krona1 AUD = 5,927 SEK1 SEK = 0,169 AUD
Canadian DollarSwiss Franc1 CAD = 0,701 CHF1 CHF = 1,426 CAD
Canadian DollarChinese Yuan1 CAD = 4,582 CNY1 CNY = 0,218 CAD
Canadian DollarMexican Peso1 CAD = 12,502 MXN1 MXN = 0,080 CAD
Canadian DollarSwidish Krona1 CAD = 5,940 SEK1 SEK = 0,168 CAD
Swiss FrancChinese Yuan1 CHF = 6,532 CNY1 CNY = 0,153 CHF
Swiss FrancMexican Peso1 CHF = 17,824 MXN1 MXN = 0,056 CHF
Swiss FrancSwidish Krona1 CHF = 8,471 SEK1 SEK = 0,118 CHF
Chinese YuanSwidish Krona1 CNY = 1,294 SEK1 SEK = 0,773 CNY

See what else happened on January 13, 2016