Financial news on May 14, 2014

Business and Financial news
China’s Sizzling Real Estate Market Cools

China's real estate market seems to be cooling after almost two decades of nearly non-stop increases in prices and construction across nation; in latest sign, housing starts plummeted 25 percent in April from a year ago; trend has broad consequences for country's economy and possibly its politics. Read more..

By KEITH BRADSHER - The New York Times

Doubts Raised About Off-Label Use of Subsys, a Strong Painkiller

The drug was approved in 2012 for cancer patients, but has since become an outsize moneymaker for Insys Therapeutics and has been prescribed more widely. Read more..

By KATIE THOMAS - The New York Times

Lessons From a Breakup

The breakup of the Publicis-Omnicom merger offers some lessons about big deals. | A star banker at Goldman Sachs is leaving. | Citizens Bank is facing a stormy spinoff. | The maker of Botox faces more pressure about an unsolicited takeover bid. Read more..

By SYDNEY EMBER - The New York Times

Lew Urges China to Ease Exchange Rate Controls

Treasury Secretary Jacob Lew, during trip to China, pushes country to allow market forces to decide its exchange rate; also presses senior officials there not to undercut Obama administration’s sanctions on Russia. Read more..

By JANE PERLEZ - The New York Times

Pimco Weighs on Allianz's First Quarter as Profit Falls 3.9%

The Munich-based insurer said its first-quarter net income declined to €1.64 billion as results were hurt by investors removing €21.7 billion in investments from Pimco. Read more..

By CHAD BRAY - The New York Times

Senators Intend to Amend Federal Student Privacy Law

To protect the personal information about students that school technology vendors can acquire, two lawmakers are pushing to modernize a longstanding federal law on education privacy. Read more..

By NATASHA SINGER - The New York Times

What Hedge Funds Talk About When They Talk About Money

Hedge fund managers, political figures and celebrities are gathering in Las Vegas for the hedge fund industry’s annual spectacle, looking to put a little gloss on what have been some disappointing returns. Read more..

By ALEXANDRA STEVENSON - The New York Times

Wheelies: The Wooden Volkswagen Edition

A Bosnian retiree builds a Volkswagen Beetle out of oak; Roger Rodas’ widow sues Porsche over Paul Walker crash. Read more..

By BENJAMIN PRESTON - The New York Times

Why Hedge Funds Don't Worry About Carried Interest Tax Rules

Hedge fund managers don’t benefit from the carried interest tax advantage that are the focus of proposed legislation, Victor Fleischer writes in the Standard Deduction column. Instead, many use Bermuda-based reinsurance companies to avoid taxes. Read more..

By VICTOR FLEISCHER - The New York Times

Stock Markets

Values are reported in US Dollars

Stock Ticker symbol Open High Low Close Volume
Cisco Systems CSCO 22.92 23.05 22.63 22.81 59.3M
Facebook FB 59.53 60.45 58.95 59.23 47.4M
Pfizer PFE 29.14 29.28 28.92 29.10 26.8M
AT&T Inc. T 36.10 36.57 36.01 36.39 24.2M
General Electric GE 26.91 26.96 26.67 26.76 20.7M
Microsoft MSFT 40.30 40.45 40.05 40.24 18.8M
Intel INTC 26.49 26.52 26.33 26.33 17.8M
Comcast CMCSA 50.17 50.25 49.68 49.83 15.8M
Oracle Corp. ORCL 41.98 42.02 41.71 41.88 14M
Verizon Communications VZ 48.00 48.32 47.80 48.01 13.9M
Wells Fargo & Co. WFC 49.86 49.86 49.19 49.29 13.3M
Gilead Sciences GILD 80.40 81.62 79.61 80.97 10.7M
General Motors GM 35.10 35.11 34.80 34.94 10.5M
JPMorgan Chase JPM 54.64 54.70 54.30 54.36 10.3M
Coca-Cola KO 41.02 41.18 40.83 40.89 10M
Merck MRK 55.63 56.56 55.63 56.37 7.8M
Abbott Laboratories ABT 39.86 40.12 39.77 39.93 7.18M
ExxonMobil XOM 102.36 102.68 102.11 102.29 7M
Home Depot HD 77.33 77.37 76.17 76.31 6.87M
Procter & Gamble PG 81.74 81.91 81.12 81.17 6.87M
HP Inc. HPQ 33.13 33.34 32.90 32.97 6.79M
Bristol-Myers Squibb BMY 52.24 52.39 51.75 52.12 6.29M
Walt Disney & Co. DIS 81.77 82.18 80.63 80.92 6.19M
Altria MO 40.55 40.57 40.23 40.33 6.11M
Apple AAPL 592.43 597.40 591.74 593.87 5.94M
Wal-Mart Stores WMT 79.05 79.05 78.07 78.74 5.61M
International Business Machines IBM 191.91 191.99 188.17 188.72 5.25M
Schlumberger SLB 100.26 101.23 100.26 100.74 5.13M
Chevron CVX 126.14 126.78 125.76 126.42 4.96M
ConocoPhillips COP 78.74 78.79 78.35 78.53 4.46M
Johnson & Johnson JNJ 100.95 101.10 100.77 100.87 4.19M
McDonald's MCD 103.69 103.78 102.54 103.03 3.83M
Amazon AMZN 302.50 304.64 296.66 297.62 3.32M
Amgen AMGN 111.14 112.48 110.52 112.07 2.99M
Boeing BA 133.80 133.97 132.69 132.99 2.88M
Pepsico PEP 87.24 87.44 86.78 86.84 2.73M
Berkshire Hathaway BRK.B 127.80 128.00 127.51 127.53 2.69M
UnitedHealth Group UNH 78.05 78.05 76.94 77.17 2.64M
3M MMM 142.48 142.77 141.41 141.60 2.11M
United Technologies UTX 118.56 118.57 117.16 117.32 1.77M
Visa V 211.20 211.88 209.86 209.86 1.71M
Union Pacific UNP 192.90 193.28 191.32 192.21 1.45M
Alphabet GOOGL 541.82 541.82 533.11 534.41 1.28M
Exchange Rates of May 14, 2014
CurrenciesExchange Rates
US Dollar Japanese Yen 1 USD = 101.840 JPY 1 JPY = 0.010 USD
US Dollar Canadian Dollar 1 USD = 1.089 CAD 1 CAD = 0.919 USD
US Dollar Swiss Franc 1 USD = 0.890 CHF 1 CHF = 1.124 USD
US Dollar Chinese Yuan 1 USD = 6.229 CNY 1 CNY = 0.161 USD
Euro Japanese Yen 1 EUR = 139.660 JPY 1 JPY = 0.007 EUR
Euro Pound Sterling 1 EUR = 0.818 GBP 1 GBP = 1.223 EUR
Euro Australian Dollar 1 EUR = 1.462 AUD 1 AUD = 0.684 EUR
Euro Canadian Dollar 1 EUR = 1.493 CAD 1 CAD = 0.670 EUR
Euro Swiss Franc 1 EUR = 1.220 CHF 1 CHF = 0.820 EUR
Euro Chinese Yuan 1 EUR = 8.542 CNY 1 CNY = 0.117 EUR
Japanese Yen Pound Sterling 1 JPY = 0.585 GBP 1 GBP = 1.709 JPY
Japanese Yen Australian Dollar 1 JPY = 1.046 AUD 1 AUD = 0.956 JPY
Japanese Yen Canadian Dollar 1 JPY = 1.069 CAD 1 CAD = 0.936 JPY
Japanese Yen Swiss Franc 1 JPY = 0.873 CHF 1 CHF = 1.145 JPY
Pound Sterling Australian Dollar 1 GBP = 1.788 AUD 1 AUD = 0.559 GBP
Pound Sterling Canadian Dollar 1 GBP = 1.826 CAD 1 CAD = 0.548 GBP
Pound Sterling Swiss Franc 1 GBP = 1.492 CHF 1 CHF = 0.670 GBP
Pound Sterling Chinese Yuan 1 GBP = 10.442 CNY 1 CNY = 0.096 GBP
Australian Dollar Canadian Dollar 1 AUD = 1.021 CAD 1 CAD = 0.979 AUD
Australian Dollar Swiss Franc 1 AUD = 0.834 CHF 1 CHF = 1.199 AUD
Australian Dollar Chinese Yuan 1 AUD = 5.842 CNY 1 CNY = 0.171 AUD
Canadian Dollar Swiss Franc 1 CAD = 0.817 CHF 1 CHF = 1.224 CAD
Canadian Dollar Chinese Yuan 1 CAD = 5.720 CNY 1 CNY = 0.175 CAD
Swiss Franc Chinese Yuan 1 CHF = 6.999 CNY 1 CNY = 0.143 CHF

See what else happened on May 14, 2014