Financial news on December 15th, 2011

Business and Financial news
Frenchman to Join Board of Europe’s Bank

European Central Bank confirms French economist Benoit Coeure to the board; he says bank may have to step up bond purchases. Read more..

By JACK EWING - The New York Times

Italy’s Growing Cost of Borrowing Weighs on Investors

Markets fall on euro zone debt fears; Dow Jones industrial average falls 131.46 points, or 1.10 percent, to 11,823.48; Standard & Poor's 500-stock index falls 13.91 points, or 1.13 percent, to 1,211.82; Nasdaq composite index falls 39.96 points, or 1.55 percent, to 2,539.31. Read more..

By REUTERS - The New York Times

Lines Drawn on Antipiracy Bills

House and Senate are looking to cut off oxygen for foreign piracy sites that offer free copies of entertainment by taking aim at search engines like Google and Yahoo that allow the pirates to function; Silicon Valley firms, public-interest groups and others argue two bills are so broad and heavy-handed that they threaten to close sites and broadband service providers and stifle free speech, while setting a bad example of American censorship. Read more..

By EDWARD WYATT - The New York Times

Morning Take-Out

Highlights from the DealBook newsletter. Read more..

By WILLIAM ALDEN - The New York Times

Olympus Restates Earnings, Showing Loss

Olympus avoids delisting by the Tokyo Stock Exchange by posting the more than $1 billion in losses at the center of a decades-long cover-up; company's auditor is unwilling to give Olympus a clean bill of health, saying firm has been unable to verify all the money flows involved in cover-up. Read more..

By HIROKO TABUCHI - The New York Times

OPEC Opts to Increase Its Level of Output

Organization of the Petroleum Exporting Countries agrees to increase its production target to 30 million barrels daily, from previous target of 24.5 million; move should have little lasting effect on oil prices. Read more..

By CLIFFORD KRAUSS - The New York Times

Q.&A.: Nokia and T-Mobile Executives Talk About Windows Phone

Nokia earlier this year teamed up with Microsoft to ship handsets with the new Windows Phone 7 software. Now Nokia has teamed up with T-Mobile. Nokia and T-Mobile executives discussed the new Lumia 710 smartphone. Read more..

By BRIAN X. CHEN - The New York Times

Stephen Schlossberg, Official of U.A.W. and Labor Dept., Dies at 90

Stephen Schlossberg, a onetime garment workers’ organizer who rose to become general counsel of the United Automobile Workers and a top official in the Labor Department under President Ronald Reagan, dies at age 90. Read more..


The Last-Minute Gift That’s Sure to Please

Sleek online services have emerged that let people create wish lists that can be e-mailed to family and friends, essentially ensuring that they get at least one gift they want; sites are ideal for making last-minute holiday list, but can be used year-round as registries for gift-giving occasions; sampling of sites noted. Read more..

By JENNA WORTHAM - The New York Times

Today’s Scuttlebot: Facebook Timeline and a Steve Jobs iPhone Case

The tech reporters and editors of The New York Times are always searching for interesting items on the Web. Here’s what they found. Read more..

By THE NEW YORK TIMES - The New York Times

Stock Markets

Values are reported in US Dollars

StockTicker symbolOpenHighLowCloseVolume
General ElectricGE16.8216.8716.5916.7961.4M
Oracle Corp.ORCL30.1430.2028.8129.0343.2M
Cisco SystemsCSCO18.1718.2517.9318.0439.8M
JPMorgan ChaseJPM32.1032.2831.5731.7633.5M
Wells Fargo & Co.WFC26.1426.3125.5625.6132.6M
AT&T Inc.T28.9929.0228.7128.7925.8M
HP Inc.HPQ26.6426.7126.1226.1617.9M
Abbott LaboratoriesABT54.6554.9454.5754.8917M
Bristol-Myers SquibbBMY33.9834.4033.9434.2711.6M
Home DepotHD39.6239.9639.3839.4210.8M
Verizon CommunicationsVZ38.4938.5638.2638.4210.8M
General MotorsGM19.7620.2219.5120.1010.2M
Walt Disney & Co.DIS35.5235.7234.9935.199.88M
Johnson & JohnsonJNJ63.6564.1063.5764.009.66M
Procter & GamblePG64.8365.2164.6564.999.65M
UnitedHealth GroupUNH47.8848.8047.8848.529.35M
Wal-Mart StoresWMT57.8358.4057.8357.958.56M
Gilead SciencesGILD39.0039.1238.4638.496.9M
Berkshire HathawayBRK.B76.2476.4474.8474.905.35M
International Business MachinesIBM190.48191.20186.89187.484.47M
United TechnologiesUTX73.6074.0372.9273.533.81M
Union PacificUNP100.00100.4197.8298.793.17M
Exchange Rates of December 15th, 2011
CurrenciesExchange Rates
US DollarJapanese Yen1 USD = 77.860 JPY1 JPY = 0.013 USD
US DollarCanadian Dollar1 USD = 1.035 CAD1 CAD = 0.967 USD
US DollarSwiss Franc1 USD = 0.940 CHF1 CHF = 1.064 USD
US DollarChinese Yuan1 USD = 6.374 CNY1 CNY = 0.157 USD
EuroJapanese Yen1 EUR = 101.325 JPY1 JPY = 0.010 EUR
EuroPound Sterling1 EUR = 0.839 GBP1 GBP = 1.192 EUR
EuroAustralian Dollar1 EUR = 1.311 AUD1 AUD = 0.763 EUR
EuroCanadian Dollar1 EUR = 1.346 CAD1 CAD = 0.743 EUR
EuroSwiss Franc1 EUR = 1.224 CHF1 CHF = 0.817 EUR
EuroChinese Yuan1 EUR = 8.251 CNY1 CNY = 0.121 EUR
Japanese YenPound Sterling1 JPY = 0.828 GBP1 GBP = 1.208 JPY
Japanese YenAustralian Dollar1 JPY = 1.294 AUD1 AUD = 0.773 JPY
Japanese YenCanadian Dollar1 JPY = 1.328 CAD1 CAD = 0.753 JPY
Japanese YenSwiss Franc1 JPY = 1.207 CHF1 CHF = 0.828 JPY
Pound SterlingAustralian Dollar1 GBP = 1.564 AUD1 AUD = 0.640 GBP
Pound SterlingCanadian Dollar1 GBP = 1.605 CAD1 CAD = 0.623 GBP
Pound SterlingSwiss Franc1 GBP = 1.458 CHF1 CHF = 0.686 GBP
Pound SterlingChinese Yuan1 GBP = 9.826 CNY1 CNY = 0.102 GBP
Australian DollarCanadian Dollar1 AUD = 1.026 CAD1 CAD = 0.975 AUD
Australian DollarSwiss Franc1 AUD = 0.932 CHF1 CHF = 1.073 AUD
Australian DollarChinese Yuan1 AUD = 6.302 CNY1 CNY = 0.159 AUD
Canadian DollarSwiss Franc1 CAD = 0.908 CHF1 CHF = 1.101 CAD
Canadian DollarChinese Yuan1 CAD = 6.131 CNY1 CNY = 0.163 CAD
Swiss FrancChinese Yuan1 CHF = 6.743 CNY1 CNY = 0.148 CHF

See what else happened on December 15th, 2011