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..

By THE ASSOCIATED PRESS - The New York Times

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..

By THE ASSOCIATED PRESS - The New York Times

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

Stock Ticker symbol Open High Low Close Volume
Cisco Systems CSCO 26.45 26.45 25.97 26.38 77M
Microsoft MSFT 32.14 33.36 31.70 32.35 48.5M
Facebook FB 36.83 37.55 36.62 36.65 48.4M
General Electric GE 24.20 24.29 24.05 24.07 28M
Apple AAPL 497.88 504.25 493.40 498.50 27M
Pfizer PFE 29.22 29.44 29.00 29.03 23.9M
Intel INTC 22.40 22.74 22.35 22.57 23.2M
Oracle Corp. ORCL 33.26 33.65 33.23 33.57 19.7M
AT&T Inc. T 34.76 34.79 34.51 34.77 17.4M
JPMorgan Chase JPM 54.33 54.85 54.00 54.15 15.8M
Coca-Cola KO 39.59 39.68 39.35 39.53 13.8M
Wells Fargo & Co. WFC 43.45 43.53 43.10 43.10 13.8M
Johnson & Johnson JNJ 92.79 92.95 90.51 90.70 12.7M
Comcast CMCSA 44.79 44.80 43.79 43.86 11.6M
General Motors GM 35.84 36.01 35.21 35.57 11.3M
HP Inc. HPQ 27.27 27.32 26.95 27.18 10.4M
ExxonMobil XOM 89.34 89.48 88.90 88.95 9.8M
Home Depot HD 79.15 79.23 77.18 77.44 8.65M
Merck MRK 48.55 48.76 48.41 48.57 8.53M
Verizon Communications VZ 49.10 49.27 48.72 48.89 7.39M
Chevron CVX 122.76 122.96 121.54 122.05 6.88M
Wal-Mart Stores WMT 76.81 77.22 76.24 76.40 6.82M
ConocoPhillips COP 67.15 67.50 66.72 67.16 6.49M
Walt Disney & Co. DIS 63.95 64.17 63.47 63.96 6.41M
Altria MO 35.23 35.25 34.81 35.06 5.87M
McDonald's MCD 96.24 96.37 95.64 96.11 5.45M
Procter & Gamble PG 81.67 81.78 81.19 81.25 5.17M
Gilead Sciences GILD 59.11 59.56 58.14 58.17 5.16M
Bristol-Myers Squibb BMY 43.18 43.69 42.91 42.93 5.1M
Abbott Laboratories ABT 35.91 35.94 35.52 35.61 4.96M
Boeing BA 106.16 106.16 104.07 104.16 4.48M
Schlumberger SLB 82.30 82.74 81.99 82.16 4.4M
Alphabet GOOGL 878.37 880.23 867.16 869.81 4.16M
Visa V 179.51 181.49 178.35 178.35 3.83M
Pepsico PEP 83.34 83.54 82.73 82.75 3.08M
UnitedHealth Group UNH 73.19 73.30 72.31 72.49 3.08M
International Business Machines IBM 188.58 188.93 187.30 187.53 2.89M
Amgen AMGN 107.03 108.22 106.52 106.64 2.17M
United Technologies UTX 106.28 106.65 104.93 105.06 2.15M
3M MMM 118.90 118.91 117.57 117.62 2.02M
Berkshire Hathaway BRK.B 117.04 117.33 116.46 116.57 1.93M
Amazon AMZN 294.29 294.29 290.54 291.34 1.42M
Union Pacific UNP 159.80 160.18 158.45 158.59 1.03M
Exchange Rates of August 14, 2013
CurrenciesExchange Rates
US Dollar Japanese Yen 1 USD = 98.010 JPY 1 JPY = 0.010 USD
US Dollar Canadian Dollar 1 USD = 1.034 CAD 1 CAD = 0.967 USD
US Dollar Swiss Franc 1 USD = 0.935 CHF 1 CHF = 1.070 USD
US Dollar Chinese Yuan 1 USD = 6.120 CNY 1 CNY = 0.163 USD
Euro Japanese Yen 1 EUR = 129.940 JPY 1 JPY = 0.008 EUR
Euro Pound Sterling 1 EUR = 0.855 GBP 1 GBP = 1.170 EUR
Euro Australian Dollar 1 EUR = 1.453 AUD 1 AUD = 0.688 EUR
Euro Canadian Dollar 1 EUR = 1.371 CAD 1 CAD = 0.730 EUR
Euro Swiss Franc 1 EUR = 1.240 CHF 1 CHF = 0.807 EUR
Euro Chinese Yuan 1 EUR = 8.112 CNY 1 CNY = 0.123 EUR
Japanese Yen Pound Sterling 1 JPY = 0.658 GBP 1 GBP = 1.520 JPY
Japanese Yen Australian Dollar 1 JPY = 1.117 AUD 1 AUD = 0.895 JPY
Japanese Yen Canadian Dollar 1 JPY = 1.054 CAD 1 CAD = 0.948 JPY
Japanese Yen Swiss Franc 1 JPY = 0.954 CHF 1 CHF = 1.049 JPY
Pound Sterling Australian Dollar 1 GBP = 1.699 AUD 1 AUD = 0.589 GBP
Pound Sterling Canadian Dollar 1 GBP = 1.603 CAD 1 CAD = 0.624 GBP
Pound Sterling Swiss Franc 1 GBP = 1.449 CHF 1 CHF = 0.690 GBP
Pound Sterling Chinese Yuan 1 GBP = 9.487 CNY 1 CNY = 0.105 GBP
Australian Dollar Canadian Dollar 1 AUD = 0.943 CAD 1 CAD = 1.060 AUD
Australian Dollar Swiss Franc 1 AUD = 0.853 CHF 1 CHF = 1.172 AUD
Australian Dollar Chinese Yuan 1 AUD = 5.584 CNY 1 CNY = 0.179 AUD
Canadian Dollar Swiss Franc 1 CAD = 0.904 CHF 1 CHF = 1.106 CAD
Canadian Dollar Chinese Yuan 1 CAD = 5.917 CNY 1 CNY = 0.169 CAD
Swiss Franc Chinese Yuan 1 CHF = 6.543 CNY 1 CNY = 0.153 CHF

See what else happened on August 14, 2013