Financial news on August 14, 2013

Business and Financial news
AOL Chief Apologizes Over Firing of Worker

AOL chief executive Tim Armstrong issues apology to entire staff for public manner in which he fired employee during internal conference call; recording of firing of Abel Lenz leaked to news outlets, causing firestorm around Armstrong, who has been trying to turn around AOL from struggling Internet portal to successful media company. Read more..

By LESLIE KAUFMAN - The New York Times

A Rise in Technology Keeps the Market Ahead

Stock market manages small gains after upturn in technology companies offsets weaknesses in other parts of market, including drop in airline shares. Read more..


Competition, Not Mergers, May Bolster the Airlines

Eduardo Porter Economic scene column says that legacy carrier airlines that remain in operation must learn to survive in competitive market, and to make money without turning routes and networks into monopolies. Read more..

By EDUARDO PORTER - The New York Times

From Outsiders to Innkeepers in China’s Sleepy Countryside

Handful of foreign entrepreneurs are entering rural China to operate boutique hotels in restored properties with historic or vintage appeal; more hotel rooms are being built in China than anywhere else worldwide; boutique hotels offer tourists more distinctive lodging. Read more..

By MIKE IVES - The New York Times

Global Powerhouses Sputter and Stall

Brazil, Russia, India and China, better known as the BRIC nations, once enjoyed soaring economic growth. Today, they are each contending with a slowdown in investments and major inflation. Read more..

Channon Hodge and David Gillen - The New York Times

Joseph A. Tahl

Interview with Joseph A Tahl of Tahl Propp Equities, privately held real estate investment, development and management company based in Manhattan. Read more..

By VIVIAN MARINO - The New York Times

July Retail Sales Rose 0.2%, Despite a Drop in Auto Sales

Commerce Department reports that retail sales increased 0.2 percent in July from June, indicating that consumer spending could increase economic growth in coming months. Read more..


Rise of Inflation Eases in Britain

Consumer prices rose by 2.8 percent in July after hitting a 14-month high in June of 2.9 percent, a government office reported. Read more..

By JULIA WERDIGIER - The New York Times

Rising Output in Factories Hints at Growth in Europe

Eurostat reports that European factories ramped up their output of consumer durable goods in June; economists say news signals end to recession; industrial production in euro zone rose 0.7 percent. Read more..

By DAVID JOLLY - The New York Times

Sony Wants Pizzeria Out of Building in Midtown

Pizza da Solo pizzeria is battling eviction following sale of New York City's Sony Building, whose new owners have plans for hotel-condominium tower; dispute is latest example of classic New York real estate story, in which sale of Manhattan skyscraper can suddenly shift relationships between tenants and landlords. Read more..

By C. J. HUGHES - The New York Times

Stock Markets

Values are reported in US Dollars

StockTicker symbolOpenHighLowCloseVolume
Cisco SystemsCSCO26.4526.4525.9726.3877M
General ElectricGE24.2024.2924.0524.0728M
Oracle Corp.ORCL33.2633.6533.2333.5719.7M
AT&T Inc.T34.7634.7934.5134.7717.4M
JPMorgan ChaseJPM54.3354.8554.0054.1515.8M
Wells Fargo & Co.WFC43.4543.5343.1043.1013.8M
Johnson & JohnsonJNJ92.7992.9590.5190.7012.7M
General MotorsGM35.8436.0135.2135.5711.3M
HP Inc.HPQ27.2727.3226.9527.1810.4M
Home DepotHD79.1579.2377.1877.448.65M
Verizon CommunicationsVZ49.1049.2748.7248.897.39M
Wal-Mart StoresWMT76.8177.2276.2476.406.82M
Walt Disney & Co.DIS63.9564.1763.4763.966.41M
Procter & GamblePG81.6781.7881.1981.255.17M
Gilead SciencesGILD59.1159.5658.1458.175.16M
Bristol-Myers SquibbBMY43.1843.6942.9142.935.1M
Abbott LaboratoriesABT35.9135.9435.5235.614.96M
UnitedHealth GroupUNH73.1973.3072.3172.493.08M
International Business MachinesIBM188.58188.93187.30187.532.89M
United TechnologiesUTX106.28106.65104.93105.062.15M
Berkshire HathawayBRK.B117.04117.33116.46116.571.93M
Union PacificUNP159.80160.18158.45158.591.03M
Exchange Rates of August 14, 2013
CurrenciesExchange Rates
US DollarJapanese Yen1 USD = 98.010 JPY1 JPY = 0.010 USD
US DollarCanadian Dollar1 USD = 1.034 CAD1 CAD = 0.967 USD
US DollarSwiss Franc1 USD = 0.935 CHF1 CHF = 1.070 USD
US DollarChinese Yuan1 USD = 6.120 CNY1 CNY = 0.163 USD
EuroJapanese Yen1 EUR = 129.940 JPY1 JPY = 0.008 EUR
EuroPound Sterling1 EUR = 0.855 GBP1 GBP = 1.170 EUR
EuroAustralian Dollar1 EUR = 1.453 AUD1 AUD = 0.688 EUR
EuroCanadian Dollar1 EUR = 1.371 CAD1 CAD = 0.730 EUR
EuroSwiss Franc1 EUR = 1.240 CHF1 CHF = 0.807 EUR
EuroChinese Yuan1 EUR = 8.112 CNY1 CNY = 0.123 EUR
Japanese YenPound Sterling1 JPY = 0.658 GBP1 GBP = 1.520 JPY
Japanese YenAustralian Dollar1 JPY = 1.117 AUD1 AUD = 0.895 JPY
Japanese YenCanadian Dollar1 JPY = 1.054 CAD1 CAD = 0.948 JPY
Japanese YenSwiss Franc1 JPY = 0.954 CHF1 CHF = 1.049 JPY
Pound SterlingAustralian Dollar1 GBP = 1.699 AUD1 AUD = 0.589 GBP
Pound SterlingCanadian Dollar1 GBP = 1.603 CAD1 CAD = 0.624 GBP
Pound SterlingSwiss Franc1 GBP = 1.449 CHF1 CHF = 0.690 GBP
Pound SterlingChinese Yuan1 GBP = 9.487 CNY1 CNY = 0.105 GBP
Australian DollarCanadian Dollar1 AUD = 0.943 CAD1 CAD = 1.060 AUD
Australian DollarSwiss Franc1 AUD = 0.853 CHF1 CHF = 1.172 AUD
Australian DollarChinese Yuan1 AUD = 5.584 CNY1 CNY = 0.179 AUD
Canadian DollarSwiss Franc1 CAD = 0.904 CHF1 CHF = 1.106 CAD
Canadian DollarChinese Yuan1 CAD = 5.917 CNY1 CNY = 0.169 CAD
Swiss FrancChinese Yuan1 CHF = 6.543 CNY1 CNY = 0.153 CHF

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