Financial news on September 14, 2016

Business and Financial news
America’s Inequality Problem: Real Income Gains Are Brief and Hard to Find

Eduardo Porter Economic Scene column says positive Census Bureau report that typical American household income has risen 5.2 percent in 2015, combined with decline of poverty rate to 13.5 percent, does not justify unbridled celebration; points out economic growth remains sluggish, while income gains are largely for richest earners; says economy has made it difficult for average workers to get ahead. Read more..

By EDUARDO PORTER - The New York Times

Bridgewater Manager Ray Dalio Defends His Firm’s ‘Radical Transparency’

Billionaire hedge fund manager Ray Dalio defends 'unusual' culture at his $150 billion company, Bridgewater Associates, defending its policy of 'radical transparency'; Bridgewater came under scrutiny after New York Times article reported on sexual harassment complaint against firm. Read more..

By ALEXANDRA STEVENSON and MATTHEW GOLDSTEIN - The New York Times

Fast Response to ‘Brexit’ News: A Pop-Up Paper Finds Success in Britain

Archant's The New European, short-term weekly print newspaper targeted at Britons who favored remaining in European Union, is surprisingly profitable hit in Britain; is part of broad experiment known as pop-up publishing, in which paper is only produced as short-term print only project, in effort to keep costs low. Read more..

By NICOLA CLARK - The New York Times

How Long Is an Actress Onscreen? A New Tool Finds the Answer Faster.

Software developed for the Geena Davis Institute on Gender in Media could analyze a 90-minute film in 15 minutes, an engineer said. Read more..

By MELENA RYZIK - The New York Times

Morning Agenda: An Unnoticed Fraud, a Balanced Merger and a Deal for Chips

Wells Fargo has questions to answer over its fraudulent bank accounts, which involved thousands of employees. Read more..

By AMIE TSANG - The New York Times

Once Ailing, Renesas of Japan Buys the U.S. Chip Maker Intersil

As the microchip industry consolidates, the Japanese company has emerged from years of restructuring as a leaner, cash-rich acquirer. Read more..

By JONATHAN SOBLE - The New York Times

Robert E. Allen, 81, Dies; Led an AT&T in Transition

Robert E Allen, former chief executive and chairman of telecom giant AT&T who led company through major reorganizations in late 1980s and early 1990s, dies at age 81. Read more..

By DIANE CARDWELL - The New York Times

Time Inc. Shakes Up Management, Replacing Chief Executive

Time Inc names Rich Battista as chief executive, succeeding Joseph A Ripp. Read more..

By SYDNEY EMBER - The New York Times

Trial Begins for Maurice Greenberg, Ex-A.I.G. Chief Accused of Fraud

Mr. Greenberg and Howard I. Smith go to court in 11-year-old case that charges they orchestrated sham transactions designed to bolster A.I.G.’s financial statements. Read more..

By RANDALL SMITH - The New York Times

Stock Markets

Values are reported in US Dollars

Stock Ticker symbol Open High Low Close Volume
Apple AAPL 108.73 113.03 108.60 111.77 112M
General Electric GE 29.81 30.00 29.67 29.70 51.1M
Wells Fargo & Co. WFC 47.08 47.58 46.50 46.52 44.8M
AT&T Inc. T 39.95 40.26 39.76 39.89 26.5M
Procter & Gamble PG 87.12 87.60 86.87 87.01 25.4M
Cisco Systems CSCO 31.01 31.23 30.81 31.00 24.4M
Microsoft MSFT 56.39 56.63 56.03 56.26 24.3M
Pfizer PFE 34.12 34.35 33.86 33.94 18.9M
Facebook FB 126.89 128.80 126.89 127.77 15.7M
Intel INTC 35.51 35.82 35.40 35.62 14.1M
ExxonMobil XOM 85.04 85.83 84.27 84.60 14M
General Motors GM 30.79 30.87 30.49 30.71 12.9M
JPMorgan Chase JPM 66.27 67.25 66.21 66.40 12.6M
Verizon Communications VZ 51.59 51.86 51.30 51.49 11.9M
Oracle Corp. ORCL 40.02 40.56 40.02 40.25 11.6M
Visa V 81.46 82.22 81.45 81.49 11M
Merck MRK 61.92 62.34 61.30 61.35 10.4M
ConocoPhillips COP 40.86 41.45 39.88 39.99 10M
Coca-Cola KO 42.27 42.41 41.99 42.11 9.82M
Bristol-Myers Squibb BMY 55.85 56.09 55.11 55.23 9M
HP Inc. HPQ 14.18 14.35 14.09 14.27 8.59M
Gilead Sciences GILD 77.94 78.40 77.44 77.62 8.32M
Chevron CVX 99.12 99.95 98.17 98.42 8.2M
Abbott Laboratories ABT 40.69 41.04 40.55 40.81 7.71M
Comcast CMCSA 64.98 65.43 64.75 65.17 7.61M
Wal-Mart Stores WMT 71.62 72.06 71.40 71.52 6.98M
Altria MO 63.58 63.77 62.82 63.12 6.73M
Walt Disney & Co. DIS 92.59 92.89 92.07 92.26 6.39M
Johnson & Johnson JNJ 117.85 118.33 117.46 117.86 6.12M
Schlumberger SLB 76.90 77.90 76.17 76.37 5.19M
UnitedHealth Group UNH 133.87 134.69 132.98 133.69 4.59M
McDonald's MCD 115.00 115.66 114.82 115.18 4.53M
Home Depot HD 125.61 126.95 125.57 126.26 4.31M
United Technologies UTX 102.19 102.86 101.44 101.66 4.09M
Pepsico PEP 104.82 105.64 104.60 105.05 4.01M
Boeing BA 128.91 129.31 127.34 127.67 3.96M
International Business Machines IBM 155.70 155.87 153.39 154.05 3.86M
Berkshire Hathaway BRK.B 146.02 146.91 145.33 145.78 3.1M
Union Pacific UNP 92.38 93.33 92.20 92.72 2.88M
Amgen AMGN 169.65 171.77 169.50 170.14 2.81M
Amazon AMZN 762.20 767.50 758.85 761.09 2.53M
3M MMM 175.96 177.35 175.20 175.62 1.86M
Alphabet GOOGL 787.53 796.33 787.53 790.46 1.31M
Exchange Rates of September 14, 2016
CurrenciesExchange Rates
US Dollar Euro 1 USD = 0.889 EUR 1 EUR = 1.125 USD
US Dollar Japanese Yen 1 USD = 102.461 JPY 1 JPY = 0.010 USD
US Dollar Pound Sterling 1 USD = 0.755 GBP 1 GBP = 1.325 USD
US Dollar Australian Dollar 1 USD = 1.339 AUD 1 AUD = 0.747 USD
US Dollar Canadian Dollar 1 USD = 1.320 CAD 1 CAD = 0.758 USD
US Dollar Swiss Franc 1 USD = 0.973 CHF 1 CHF = 1.027 USD
US Dollar Chinese Yuan 1 USD = 6.673 CNY 1 CNY = 0.150 USD
US Dollar Mexican Peso 1 USD = 19.289 MXN 1 MXN = 0.052 USD
US Dollar Swidish Krona 1 USD = 8.499 SEK 1 SEK = 0.118 USD
Euro Japanese Yen 1 EUR = 115.200 JPY 1 JPY = 0.009 EUR
Euro Pound Sterling 1 EUR = 0.849 GBP 1 GBP = 1.179 EUR
Euro Australian Dollar 1 EUR = 1.505 AUD 1 AUD = 0.664 EUR
Euro Canadian Dollar 1 EUR = 1.484 CAD 1 CAD = 0.674 EUR
Euro Swiss Franc 1 EUR = 1.094 CHF 1 CHF = 0.914 EUR
Euro Chinese Yuan 1 EUR = 7.498 CNY 1 CNY = 0.133 EUR
Euro Mexican Peso 1 EUR = 21.684 MXN 1 MXN = 0.046 EUR
Euro Swidish Krona 1 EUR = 9.557 SEK 1 SEK = 0.105 EUR
Japanese Yen Pound Sterling 1 JPY = 0.007 GBP 1 GBP = 135.135 JPY
Japanese Yen Australian Dollar 1 JPY = 0.013 AUD 1 AUD = 76.336 JPY
Japanese Yen Canadian Dollar 1 JPY = 0.013 CAD 1 CAD = 77.519 JPY
Japanese Yen Swiss Franc 1 JPY = 0.010 CHF 1 CHF = 105.263 JPY
Japanese Yen Chinese Yuan 1 JPY = 0.065 CNY 1 CNY = 15.361 JPY
Japanese Yen Mexican Peso 1 JPY = 0.188 MXN 1 MXN = 5.311 JPY
Japanese Yen Swidish Krona 1 JPY = 0.083 SEK 1 SEK = 12.063 JPY
Pound Sterling Australian Dollar 1 GBP = 1.774 AUD 1 AUD = 0.564 GBP
Pound Sterling Canadian Dollar 1 GBP = 1.748 CAD 1 CAD = 0.572 GBP
Pound Sterling Swiss Franc 1 GBP = 1.290 CHF 1 CHF = 0.775 GBP
Pound Sterling Chinese Yuan 1 GBP = 8.837 CNY 1 CNY = 0.113 GBP
Pound Sterling Mexican Peso 1 GBP = 25.552 MXN 1 MXN = 0.039 GBP
Pound Sterling Swidish Krona 1 GBP = 11.260 SEK 1 SEK = 0.089 GBP
Australian Dollar Canadian Dollar 1 AUD = 0.986 CAD 1 CAD = 1.014 AUD
Australian Dollar Swiss Franc 1 AUD = 0.727 CHF 1 CHF = 1.375 AUD
Australian Dollar Chinese Yuan 1 AUD = 4.986 CNY 1 CNY = 0.201 AUD
Australian Dollar Mexican Peso 1 AUD = 14.403 MXN 1 MXN = 0.069 AUD
Australian Dollar Swidish Krona 1 AUD = 6.346 SEK 1 SEK = 0.158 AUD
Canadian Dollar Swiss Franc 1 CAD = 0.737 CHF 1 CHF = 1.356 CAD
Canadian Dollar Chinese Yuan 1 CAD = 5.057 CNY 1 CNY = 0.198 CAD
Canadian Dollar Mexican Peso 1 CAD = 14.611 MXN 1 MXN = 0.068 CAD
Canadian Dollar Swidish Krona 1 CAD = 6.432 SEK 1 SEK = 0.155 CAD
Swiss Franc Chinese Yuan 1 CHF = 6.856 CNY 1 CNY = 0.146 CHF
Swiss Franc Mexican Peso 1 CHF = 19.808 MXN 1 MXN = 0.050 CHF
Swiss Franc Swidish Krona 1 CHF = 8.724 SEK 1 SEK = 0.115 CHF

See what else happened on September 14, 2016