Financial news on June 15th, 2012

Business and Financial news
Airports Focus on the Ground

Nation's biggest airports, at a time when federal and state public works programs are stalled, are in the midst of major renovations or expansions that, taken together, amount to some of the largest infrastructure projects in the country; the need to accommodate bigger airplanes and a growing number of foreign carriers has helped spur many of the new investments. Read more..

By JAD MOUAWAD - The New York Times

Despite Price Drop, Oil Cartel Keeps Production Limit

Organization of the Petroleum Exporting Countries leaves unchanged a ceiling for oil production at 30 million barrels daily, despite signs of a slowdown in the global economy and slumping oil prices; decision leaves Saudi Arabia to decide on its own whether to influence prices by adjusting output before the next OPEC meeting in December. Read more..

By ANDREW E. KRAMER - The New York Times

Dialysis Company’s Failure to Warn of Product Risk Draws Inquiry

Food and Drug Administration is investigating whether Fresenius Medical Care, the nation's largest operator of dialysis centers, violated federal regulations by failing to inform customers of a potentially lethal risk connected to one of its products. Read more..

By ANDREW POLLACK - The New York Times

Europe Braces for Greek Vote — and Maybe More

Greek elections could soon bring real-world urgency to a debate that had been largely academic: whether the euro zone can withstand the departure of one of its members; some economists say Greece's departure from the euro will not be that great of a shock because there has been time to prepare. Read more..

By JACK EWING and PAUL GEITNER - The New York Times

Irish Mansion With Traditional Ambience

Courtown Demesne, outside Dublin, is a Georgian-era property built in 1815. Read more..

By ALAN O'RIORDAN - International Herald Tribune

Smithfield Foods’ Profit Drops on Lower Margins for Pork

Smithfield Foods reports fiscal fourth-quarter profit of $79.5 million, or 49 cents a share, down 19 percent from $98.4 million, or 59 cents a share, in year-ago quarter; revenue rose 3 percent to $3.21 billion from $3.12 billion. Read more..


Stanford Sentenced to 110-Year Term in $7 Billion Ponzi Case

Financier R Allen Stanford is sentenced to 110 years in prison without parole for masterminding a $7 billion Ponzi scheme; federal jury convicted him in March on 13 out of 14 counts of fraud. Read more..

By CLIFFORD KRAUSS - The New York Times

Switzerland Vows to Keep Franc From Rising

Thomas Jordan, president of the Swiss National Bank, said it was ready to take action to stem the franc's rise, which is being fueled by a search for investment havens. Read more..

By DAVID JOLLY - International Herald Tribune

Weak Hiring and Low Prices Raise Odds of Fed Action

Commerce Department reports the American current account trade deficit rose 15.7 percent in the first quarter to $137.3 billion, up from $118.7 billion in the last-quarter 2011; Labor Dept reports weekly applications for unemployment benefits increased to a seasonally adjusted 386,000 in the previous week; Labor Dept reports the Consumer Price Index fell 0.3 percent in May. Read more..


Stock Markets

Values are reported in US Dollars

StockTicker symbolOpenHighLowCloseVolume
General ElectricGE19.8720.0019.7520.0059.8M
Cisco SystemsCSCO16.9717.1716.9317.1042.6M
AT&T Inc.T35.9336.0035.6135.7141.6M
JPMorgan ChaseJPM34.8935.0734.4135.0340.9M
Oracle Corp.ORCL27.1127.7626.9927.7040.1M
Wells Fargo & Co.WFC32.1532.5531.7932.4539.1M
Johnson & JohnsonJNJ65.9066.1065.5166.0126M
Verizon CommunicationsVZ43.9044.1443.4643.5520.4M
Home DepotHD52.0952.5051.6151.8717.5M
HP Inc.HPQ21.7321.9921.5721.6417.4M
Abbott LaboratoriesABT62.4162.7962.3262.5016.1M
Bristol-Myers SquibbBMY34.6534.7134.2034.2315.9M
Procter & GamblePG63.5363.6762.5262.8814.1M
Wal-Mart StoresWMT68.0568.0667.5967.7512.7M
Walt Disney & Co.DIS47.4147.4346.9247.0911.2M
UnitedHealth GroupUNH59.6959.8558.5158.909.02M
Gilead SciencesGILD50.0750.3849.9350.297.44M
Berkshire HathawayBRK.B82.2782.5782.0582.576.77M
United TechnologiesUTX74.2374.5073.6274.496.68M
International Business MachinesIBM196.08199.27195.40199.106.39M
General MotorsGM21.7621.8121.4221.745.71M
Union PacificUNP114.70115.42114.00114.873.31M
Exchange Rates of June 15th, 2012
CurrenciesExchange Rates
US DollarJapanese Yen1 USD = 78.690 JPY1 JPY = 0.013 USD
US DollarCanadian Dollar1 USD = 1.021 CAD1 CAD = 0.979 USD
US DollarSwiss Franc1 USD = 0.950 CHF1 CHF = 1.053 USD
US DollarChinese Yuan1 USD = 6.365 CNY1 CNY = 0.157 USD
EuroJapanese Yen1 EUR = 99.470 JPY1 JPY = 0.010 EUR
EuroPound Sterling1 EUR = 0.806 GBP1 GBP = 1.241 EUR
EuroAustralian Dollar1 EUR = 1.254 AUD1 AUD = 0.797 EUR
EuroCanadian Dollar1 EUR = 1.291 CAD1 CAD = 0.775 EUR
EuroSwiss Franc1 EUR = 1.201 CHF1 CHF = 0.833 EUR
EuroChinese Yuan1 EUR = 8.044 CNY1 CNY = 0.124 EUR
Japanese YenPound Sterling1 JPY = 0.808 GBP1 GBP = 1.237 JPY
Japanese YenAustralian Dollar1 JPY = 1.259 AUD1 AUD = 0.794 JPY
Japanese YenCanadian Dollar1 JPY = 1.297 CAD1 CAD = 0.771 JPY
Japanese YenSwiss Franc1 JPY = 1.207 CHF1 CHF = 0.829 JPY
Pound SterlingAustralian Dollar1 GBP = 1.558 AUD1 AUD = 0.642 GBP
Pound SterlingCanadian Dollar1 GBP = 1.605 CAD1 CAD = 0.623 GBP
Pound SterlingSwiss Franc1 GBP = 1.493 CHF1 CHF = 0.670 GBP
Pound SterlingChinese Yuan1 GBP = 10.000 CNY1 CNY = 0.100 GBP
Australian DollarCanadian Dollar1 AUD = 1.029 CAD1 CAD = 0.972 AUD
Australian DollarSwiss Franc1 AUD = 0.957 CHF1 CHF = 1.045 AUD
Australian DollarChinese Yuan1 AUD = 6.420 CNY1 CNY = 0.156 AUD
Canadian DollarSwiss Franc1 CAD = 0.930 CHF1 CHF = 1.075 CAD
Canadian DollarChinese Yuan1 CAD = 6.232 CNY1 CNY = 0.160 CAD
Swiss FrancChinese Yuan1 CHF = 6.697 CNY1 CNY = 0.149 CHF

See what else happened on June 15th, 2012