Financial news on December 14, 2011

Business and Financial news
Avon Announces Plans to Seek a New Chief Executive

Avon Products announces plans to look for new chief executive to replace its longtime leader Andrea Jung; Jung will remain in her dual role as chairwoman and chief executive until chief is found, when she will then continue on as executive chairwoman. Read more..

By ANDREW MARTIN - The New York Times

Ex-Bank Executives Settle F.D.I.C. Lawsuit

Former Washington Mutual executives, including Stephen Rotella, Kerry Killinger and David C Schneider, reach a $64 million agreement with the government to settle a civil lawsuit related to the subprime mortgage crisis. Read more..

By LOUISE STORY - The New York Times

Former Siemens Executives Are Charged With Bribery

Eight former Siemens executives and contractors, including managing board member Uriel Sharef, are charged with criminal bribery by the Justice Department in connection with a $1 billion contract with Argentina to produce national identity cards; indictment states that the men conspired to pay more than $100 million in bribes to officials in violation of the Foreign Corrupt Practices Act. Read more..

By EDWARD WYATT - The New York Times

Morgan Stanley Has More to Do

Morgan Stanley's settlement with MBIA puts company on right track to increase regulatory capital and begin 2012 on more solid footing; divided OPEC is unlikely to tighten its ever-loosening grip on the oil market. Read more..

By AGNES T. CRANE and UNA GALANI - The New York Times

Nokia Courts Smartphone Newbies in U.S. Return

On Wednesday, Nokia announced the first step in its comeback in the United States with its first smartphone based on Microsoft’s Windows Phone operating system. Anyone hoping for Nokia to market its return with guns cocked and aimed at Apple and Google is likely to be disappointed, though. Read more..

By NICK WINGFIELD - The New York Times

Offices With More Breathing Room

Airy openness in Manhattan office spaces is replacing traditional model as companies seek loftlike feel for their businesses; once seen as difficult to rent, open spaces now command some of the highest rents in commercial real estate. Read more..

By TOM ACITELLI - The New York Times

Providence Puts Focus on Making a Home for Knowledge

So-called Knowledge District, home to Brown University’s $45 million medical school, is drawing businesses and institutions to Providence, RI. Read more..

By ELIZABETH ABBOTT - The New York Times

Retail Sales Rose Slightly in November

Commerce Department report shows that retail sales grew at their slowest pace in five months in November, increasing 0.2 percent after gaining 0.6 percent in October. Read more..

By REUTERS - The New York Times

Stocks Edge Lower in New York

Dow Jones industrial average falls 66.45 points, or 0.6 percent, to close at 11,954.94; Standard & Poor's 500-stock index falls 10.74 points, or 0.9 percent, to 1,225.73; Nasdaq composite index loses 32.99 points, or 1.3 percent, to 2,579.27. Read more..

By THE ASSOCIATED PRESS - The New York Times

Today’s Scuttlebot: Amazon, Algorithms and Angry Birds

The tech reporters and editors of The New York Times are always searching for interesting items on the Web. Here’s what they found on Wednesday: algorithms for determining college classes, slow Amazon publishing, Angry Bird merchandise and, for fun, exploding CDs. Read more..

By THE NEW YORK TIMES - The New York Times

Stock Markets

Values are reported in US Dollars

Stock Ticker symbol Open High Low Close Volume
General Electric GE 16.34 16.77 16.30 16.61 89.1M
Cisco Systems CSCO 18.46 18.50 17.88 17.98 59.7M
Pfizer PFE 20.65 21.03 20.60 20.86 56.8M
Intel INTC 23.48 23.56 23.14 23.31 56.4M
Microsoft MSFT 25.72 25.86 25.57 25.59 47.9M
JPMorgan Chase JPM 30.88 31.94 30.83 31.51 41.3M
Wells Fargo & Co. WFC 25.39 26.20 25.39 25.86 33.7M
Oracle Corp. ORCL 30.67 30.75 29.75 29.87 26.6M
ExxonMobil XOM 79.59 80.17 78.66 79.44 23.9M
AT&T Inc. T 29.01 29.19 28.78 28.81 22.7M
Merck MRK 34.93 35.76 34.90 35.56 22.5M
HP Inc. HPQ 26.63 26.76 25.95 26.38 22.3M
Chevron CVX 102.75 104.02 99.51 100.53 15.5M
Comcast CMCSA 23.16 23.29 22.97 23.18 15.4M
General Motors GM 19.95 20.01 19.42 19.47 15.1M
Apple AAPL 386.70 387.38 377.68 380.19 14.5M
Schlumberger SLB 69.18 69.51 66.82 67.00 13.8M
Abbott Laboratories ABT 54.14 54.46 53.99 54.23 13.4M
ConocoPhillips COP 69.42 69.95 68.16 68.52 12.1M
Home Depot HD 39.37 39.57 38.84 39.14 12.1M
Verizon Communications VZ 38.26 38.51 38.04 38.26 11.9M
Amazon AMZN 179.00 180.75 170.25 180.21 11.6M
Bristol-Myers Squibb BMY 33.45 33.85 33.35 33.74 11.4M
Altria MO 28.87 28.98 28.67 28.73 10.9M
Walt Disney & Co. DIS 35.70 36.00 35.12 35.16 10.7M
Procter & Gamble PG 64.47 64.95 64.33 64.45 10.3M
Johnson & Johnson JNJ 63.38 63.78 62.93 63.18 9.8M
Wal-Mart Stores WMT 57.72 58.12 57.52 57.65 8.98M
Coca-Cola KO 66.25 66.91 66.07 66.26 7.88M
Alphabet GOOGL 621.85 624.32 612.49 618.07 7.8M
UnitedHealth Group UNH 47.86 48.30 47.63 47.76 7.51M
Gilead Sciences GILD 38.63 38.88 38.49 38.76 7.38M
Berkshire Hathaway BRK.B 75.38 76.10 74.86 75.52 6.81M
Amgen AMGN 57.14 58.17 57.14 57.62 6.73M
McDonald's MCD 97.76 98.46 97.16 97.61 6.35M
Boeing BA 70.35 71.54 69.72 69.94 6M
Pepsico PEP 64.41 64.67 63.93 63.98 5.67M
United Technologies UTX 73.76 74.20 72.75 73.17 5.18M
International Business Machines IBM 189.84 190.28 188.00 188.72 5.06M
Visa V 95.71 96.74 95.05 96.36 4.79M
3M MMM 79.18 79.45 78.26 78.51 4.2M
Union Pacific UNP 98.94 99.84 98.29 98.62 3.99M
Exchange Rates of December 14, 2011
CurrenciesExchange Rates
US Dollar Japanese Yen 1 USD = 78.010 JPY 1 JPY = 0.013 USD
US Dollar Canadian Dollar 1 USD = 1.039 CAD 1 CAD = 0.962 USD
US Dollar Swiss Franc 1 USD = 0.953 CHF 1 CHF = 1.049 USD
US Dollar Chinese Yuan 1 USD = 6.371 CNY 1 CNY = 0.157 USD
Euro Japanese Yen 1 EUR = 101.280 JPY 1 JPY = 0.010 EUR
Euro Pound Sterling 1 EUR = 0.839 GBP 1 GBP = 1.192 EUR
Euro Australian Dollar 1 EUR = 1.309 AUD 1 AUD = 0.764 EUR
Euro Canadian Dollar 1 EUR = 1.349 CAD 1 CAD = 0.742 EUR
Euro Swiss Franc 1 EUR = 1.238 CHF 1 CHF = 0.808 EUR
Euro Chinese Yuan 1 EUR = 8.272 CNY 1 CNY = 0.121 EUR
Japanese Yen Pound Sterling 1 JPY = 0.828 GBP 1 GBP = 1.208 JPY
Japanese Yen Australian Dollar 1 JPY = 1.292 AUD 1 AUD = 0.774 JPY
Japanese Yen Canadian Dollar 1 JPY = 1.331 CAD 1 CAD = 0.751 JPY
Japanese Yen Swiss Franc 1 JPY = 1.221 CHF 1 CHF = 0.819 JPY
Pound Sterling Australian Dollar 1 GBP = 1.560 AUD 1 AUD = 0.641 GBP
Pound Sterling Canadian Dollar 1 GBP = 1.608 CAD 1 CAD = 0.622 GBP
Pound Sterling Swiss Franc 1 GBP = 1.475 CHF 1 CHF = 0.678 GBP
Pound Sterling Chinese Yuan 1 GBP = 9.856 CNY 1 CNY = 0.101 GBP
Australian Dollar Canadian Dollar 1 AUD = 1.030 CAD 1 CAD = 0.971 AUD
Australian Dollar Swiss Franc 1 AUD = 0.945 CHF 1 CHF = 1.058 AUD
Australian Dollar Chinese Yuan 1 AUD = 6.317 CNY 1 CNY = 0.158 AUD
Canadian Dollar Swiss Franc 1 CAD = 0.917 CHF 1 CHF = 1.090 CAD
Canadian Dollar Chinese Yuan 1 CAD = 6.132 CNY 1 CNY = 0.163 CAD
Swiss Franc Chinese Yuan 1 CHF = 6.682 CNY 1 CNY = 0.150 CHF

See what else happened on December 14, 2011