Financial news on December 14th, 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..


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

StockTicker symbolOpenHighLowCloseVolume
General ElectricGE16.3416.7716.3016.6189.1M
Cisco SystemsCSCO18.4618.5017.8817.9859.7M
JPMorgan ChaseJPM30.8831.9430.8331.5141.3M
Wells Fargo & Co.WFC25.3926.2025.3925.8633.7M
Oracle Corp.ORCL30.6730.7529.7529.8726.6M
AT&T Inc.T29.0129.1928.7828.8122.7M
HP Inc.HPQ26.6326.7625.9526.3822.3M
General MotorsGM19.9520.0119.4219.4715.1M
Abbott LaboratoriesABT54.1454.4653.9954.2313.4M
Home DepotHD39.3739.5738.8439.1412.1M
Verizon CommunicationsVZ38.2638.5138.0438.2611.9M
Bristol-Myers SquibbBMY33.4533.8533.3533.7411.4M
Walt Disney & Co.DIS35.7036.0035.1235.1610.7M
Procter & GamblePG64.4764.9564.3364.4510.3M
Johnson & JohnsonJNJ63.3863.7862.9363.189.8M
Wal-Mart StoresWMT57.7258.1257.5257.658.98M
UnitedHealth GroupUNH47.8648.3047.6347.767.51M
Gilead SciencesGILD38.6338.8838.4938.767.38M
Berkshire HathawayBRK.B75.3876.1074.8675.526.81M
United TechnologiesUTX73.7674.2072.7573.175.18M
International Business MachinesIBM189.84190.28188.00188.725.06M
Union PacificUNP98.9499.8498.2998.623.99M
Exchange Rates of December 14th, 2011
CurrenciesExchange Rates
US DollarJapanese Yen1 USD = 78.010 JPY1 JPY = 0.013 USD
US DollarCanadian Dollar1 USD = 1.039 CAD1 CAD = 0.962 USD
US DollarSwiss Franc1 USD = 0.953 CHF1 CHF = 1.049 USD
US DollarChinese Yuan1 USD = 6.371 CNY1 CNY = 0.157 USD
EuroJapanese Yen1 EUR = 101.280 JPY1 JPY = 0.010 EUR
EuroPound Sterling1 EUR = 0.839 GBP1 GBP = 1.192 EUR
EuroAustralian Dollar1 EUR = 1.309 AUD1 AUD = 0.764 EUR
EuroCanadian Dollar1 EUR = 1.349 CAD1 CAD = 0.742 EUR
EuroSwiss Franc1 EUR = 1.238 CHF1 CHF = 0.808 EUR
EuroChinese Yuan1 EUR = 8.272 CNY1 CNY = 0.121 EUR
Japanese YenPound Sterling1 JPY = 0.828 GBP1 GBP = 1.208 JPY
Japanese YenAustralian Dollar1 JPY = 1.292 AUD1 AUD = 0.774 JPY
Japanese YenCanadian Dollar1 JPY = 1.331 CAD1 CAD = 0.751 JPY
Japanese YenSwiss Franc1 JPY = 1.221 CHF1 CHF = 0.819 JPY
Pound SterlingAustralian Dollar1 GBP = 1.560 AUD1 AUD = 0.641 GBP
Pound SterlingCanadian Dollar1 GBP = 1.608 CAD1 CAD = 0.622 GBP
Pound SterlingSwiss Franc1 GBP = 1.475 CHF1 CHF = 0.678 GBP
Pound SterlingChinese Yuan1 GBP = 9.856 CNY1 CNY = 0.101 GBP
Australian DollarCanadian Dollar1 AUD = 1.030 CAD1 CAD = 0.971 AUD
Australian DollarSwiss Franc1 AUD = 0.945 CHF1 CHF = 1.058 AUD
Australian DollarChinese Yuan1 AUD = 6.317 CNY1 CNY = 0.158 AUD
Canadian DollarSwiss Franc1 CAD = 0.917 CHF1 CHF = 1.090 CAD
Canadian DollarChinese Yuan1 CAD = 6.132 CNY1 CNY = 0.163 CAD
Swiss FrancChinese Yuan1 CHF = 6.682 CNY1 CNY = 0.150 CHF

See what else happened on December 14th, 2011