Financial news on May 16, 2008
Business and Financial news
J. C. Penney, Kohl’s and Nordstrom reported first-quarter profit on Thursday that fell less than analysts estimated by reducing costs as the economy teetered near a recession. Read more..
At $1.8 billion, Thursday’s deal for CNet by CBS is the biggest by far in its recent Internet expansion, making the network a bigger player in online media. Read more..
The Canadian Auto Workers union reached tentative agreements with General Motors of Canada and Chrysler Canada, four months before current contracts expire. Read more..
Some people who have lost jobs, and many more struggling to hold them, say banks are keeping employees in the dark about the size and timing of layoffs. Read more..
The president of Fox Entertainment announced a plan that would allow two of its new dramas, “Fringe” and “Dollhouse,” to run as many as 50 minutes of story each episode. Read more..
Thanks to its aggressive push into renewable energies, cloud-wreathed Germany has become an unlikely leader in the race to harness the sun’s energy. Read more..
Johnson & Johnson lost the second round in its trademark dispute against the disaster relief agency when a federal judge in Manhattan threw out most of the case. Read more..
The German economy grew 1.5 percent in the first quarter of this year, delivering its best performance in over a decade. The euro zone grew 0.7 percent during the period. Read more..
The company said it would resubmit its application for Multaq based on results from a study showing that the drug reduced both hospitalization and death in patients with atrial fibrillation. Read more..
The deal between Yahoo and WPP Group, the advertising holding company, will give WPP’s clients a broader swath of Web sites where they can aim their messages. Read more..
Values are reported in US Dollars
|Wells Fargo & Co.||WFC||29.27||29.65||28.61||28.95||25.9M|
|Walt Disney & Co.||DIS||34.97||35.02||34.47||34.91||12.7M|
|Procter & Gamble||PG||66.46||66.97||66.42||66.75||12.3M|
|Johnson & Johnson||JNJ||66.91||66.91||66.30||66.68||9.76M|
|International Business Machines||IBM||128.46||128.48||126.80||127.82||6.37M|
Exchange Rates of May 16, 2008
|US Dollar||Japanese Yen||1 USD = 104.030 JPY||1 JPY = 0.010 USD|
|US Dollar||Canadian Dollar||1 USD = 0.999 CAD||1 CAD = 1.001 USD|
|US Dollar||Swiss Franc||1 USD = 1.048 CHF||1 CHF = 0.955 USD|
|US Dollar||Chinese Yuan||1 USD = 6.993 CNY||1 CNY = 0.143 USD|
|Euro||Japanese Yen||1 EUR = 162.110 JPY||1 JPY = 0.006 EUR|
|Euro||Pound Sterling||1 EUR = 0.796 GBP||1 GBP = 1.257 EUR|
|Euro||Australian Dollar||1 EUR = 1.630 AUD||1 AUD = 0.614 EUR|
|Euro||Canadian Dollar||1 EUR = 1.556 CAD||1 CAD = 0.643 EUR|
|Euro||Swiss Franc||1 EUR = 1.632 CHF||1 CHF = 0.613 EUR|
|Japanese Yen||Pound Sterling||1 JPY = 0.491 GBP||1 GBP = 2.038 JPY|
|Japanese Yen||Australian Dollar||1 JPY = 1.005 AUD||1 AUD = 0.995 JPY|
|Japanese Yen||Canadian Dollar||1 JPY = 0.959 CAD||1 CAD = 1.042 JPY|
|Japanese Yen||Swiss Franc||1 JPY = 1.007 CHF||1 CHF = 0.993 JPY|
|Pound Sterling||Australian Dollar||1 GBP = 2.048 AUD||1 AUD = 0.488 GBP|
|Pound Sterling||Canadian Dollar||1 GBP = 1.955 CAD||1 CAD = 0.511 GBP|
|Pound Sterling||Swiss Franc||1 GBP = 2.050 CHF||1 CHF = 0.488 GBP|
|Australian Dollar||Canadian Dollar||1 AUD = 0.954 CAD||1 CAD = 1.048 AUD|
|Australian Dollar||Swiss Franc||1 AUD = 1.001 CHF||1 CHF = 0.999 AUD|
|Canadian Dollar||Swiss Franc||1 CAD = 1.048 CHF||1 CHF = 0.954 CAD|