Financial news on August 14, 2013
Business and Financial news
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..
Stock market manages small gains after upturn in technology companies offsets weaknesses in other parts of market, including drop in airline shares. Read more..
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..
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..
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..
Interview with Joseph A Tahl of Tahl Propp Equities, privately held real estate investment, development and management company based in Manhattan. Read more..
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..
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..
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..
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..
Values are reported in US Dollars
|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|
|Walt Disney & Co.||DIS||63.95||64.17||63.47||63.96||6.41M|
|Procter & Gamble||PG||81.67||81.78||81.19||81.25||5.17M|
|International Business Machines||IBM||188.58||188.93||187.30||187.53||2.89M|
Exchange Rates of August 14, 2013
|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|