Financial news on December 14th, 2011
Business and Financial news
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..
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..
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..
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..
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..
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..
So-called Knowledge District, home to Brown University’s $45 million medical school, is drawing businesses and institutions to Providence, RI. Read more..
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..
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..
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..
Values are reported in US Dollars
|Wells Fargo & Co.||WFC||25.39||26.20||25.39||25.86||33.7M|
|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|
|International Business Machines||IBM||189.84||190.28||188.00||188.72||5.06M|
Exchange Rates of December 14th, 2011
|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|