Financial news on May 16, 2014

Business and Financial news
A Beginner’s Guide to Repaying Student Loans

A road map to help those with student loans steer clear of common repayment mistakes and protect their credit scores. Read more..

By RON LIEBER - The New York Times

At Last, Recovery Heads Where the Fed Wants It

Government data shows modestly higher inflation and more robust job market, two indicators of economic health that Federal Reserve and its chairwoman Janet L Yellen have identified as keys to stronger recovery; rise in Consumer Price Index in April suggests broader economic firming is underway; nascent signs of rebound stand in stark contrast to economic landscape in Europe. Read more..

By NELSON D. SCHWARTZ - The New York Times

Coke and McDonald’s, Growing Together Since 1955

McDonald's is Coca-Cola's largest restaurant customer, and the two companies maintain a unique, symbiotic relationship that dates back to 1955. Read more..

By DAVID GELLES - The New York Times

Convicted of Felonies, Banks Are Allowed to Stay in Business

Floyd Norris High & Low Finance column questions how much it matters whether banks like Credit Suisse and BNP Paribas face criminal convictions, rather than civil settlements that yield equally large fines; notes that Justice Dept has gone to great lengths to guarantee convicted banks will be able to continue to stay in business; calls for any waivers of restriction on banks' businesses to be clearly detailed in criminal settlements. Read more..

By FLOYD NORRIS - The New York Times

Deal for Zales May Be Done In by Bank of America's Conflicts

Zale’s largest shareholder, TIG, is highlighting Bank of America’s conflict of interest in a sale to Signet Jewelers. That and other factors may lead shareholders to vote down the deal. Read more..

By STEVEN M. DAVIDOFF - The New York Times

Flight’s Disappearance Knocks Malaysia Airlines

Malaysia Airlines says vanishing of Flight 370 pushed unprofitable carrier to its worst quarterly earnings in more than two years; company says its first-quarter net loss had increased to 443.4 million ringgit, or $137.4 million, from loss of 278.8 million ringgit a year earlier. Read more..

By REUTERS - The New York Times

Goldman Shareholders Give Pay Plan a Thumbs Up

A proxy advisory firm, Glass Lewis, has questioned the Wall Street firm’s compensation practices. Read more..

By RACHEL ABRAMS - The New York Times

Impossible? Only Until You Prove Otherwise

Adam Bryant Corner Office column features interview with Rob Gough, president of marketing company Eckim, who discusses his entrepreneurial drive and his management philosophy. Read more..

By ADAM BRYANT - The New York Times

Tempering Excitement for the E.C.B.'s Measures

The European Central Bank looks poised to try new ways to stimulate the economy, but the anticipated measures are unlikely to have a major impact. Read more..


Today in Small Business: 'Let's Take This Offline'

Meet the Drone Dudes. Even your happy employees are job hunting. A McDonald’s worker in Denmark makes $21 an hour. Read more..

By GENE MARKS - The New York Times

Stock Markets

Values are reported in US Dollars

StockTicker symbolOpenHighLowCloseVolume
Cisco SystemsCSCO24.1424.4524.0624.3740.5M
Verizon CommunicationsVZ48.7149.3048.5449.0729.4M
General ElectricGE26.4926.6826.3726.6728.8M
AT&T Inc.T36.5536.7936.5136.7424M
General MotorsGM33.7534.6533.4934.0021.5M
JPMorgan ChaseJPM53.4253.5152.9753.3120M
Oracle Corp.ORCL41.8941.9741.3241.6915.5M
Wells Fargo & Co.WFC49.0149.1348.7349.0813.9M
Procter & GamblePG80.6380.7680.0080.3311.6M
Bristol-Myers SquibbBMY49.0649.1848.5848.7811.2M
Abbott LaboratoriesABT39.6139.7938.8439.0611M
Gilead SciencesGILD80.3080.8479.2280.8010.5M
HP Inc.HPQ32.3732.5232.1932.528.03M
Wal-Mart StoresWMT77.0077.3876.6577.017.24M
Home DepotHD76.7977.3776.6677.367.04M
Johnson & JohnsonJNJ100.57100.89100.14100.586.52M
Walt Disney & Co.DIS80.1780.4279.3480.395.82M
United TechnologiesUTX115.87116.22114.48114.584.49M
International Business MachinesIBM186.27187.41185.93187.063.95M
UnitedHealth GroupUNH76.3576.6776.0176.652.97M
Union PacificUNP191.97195.25191.97195.162.94M
Berkshire HathawayBRK.B126.41126.92125.66126.862.9M
Exchange Rates of May 16, 2014
CurrenciesExchange Rates
US DollarJapanese Yen1 USD = 101.520 JPY1 JPY = 0.010 USD
US DollarCanadian Dollar1 USD = 1.086 CAD1 CAD = 0.921 USD
US DollarSwiss Franc1 USD = 0.892 CHF1 CHF = 1.122 USD
US DollarChinese Yuan1 USD = 6.233 CNY1 CNY = 0.160 USD
EuroJapanese Yen1 EUR = 138.960 JPY1 JPY = 0.007 EUR
EuroPound Sterling1 EUR = 0.814 GBP1 GBP = 1.229 EUR
EuroAustralian Dollar1 EUR = 1.462 AUD1 AUD = 0.684 EUR
EuroCanadian Dollar1 EUR = 1.487 CAD1 CAD = 0.673 EUR
EuroSwiss Franc1 EUR = 1.222 CHF1 CHF = 0.818 EUR
EuroChinese Yuan1 EUR = 8.535 CNY1 CNY = 0.117 EUR
Japanese YenPound Sterling1 JPY = 0.586 GBP1 GBP = 1.708 JPY
Japanese YenAustralian Dollar1 JPY = 1.051 AUD1 AUD = 0.951 JPY
Japanese YenCanadian Dollar1 JPY = 1.069 CAD1 CAD = 0.935 JPY
Japanese YenSwiss Franc1 JPY = 0.879 CHF1 CHF = 1.138 JPY
Pound SterlingAustralian Dollar1 GBP = 1.795 AUD1 AUD = 0.557 GBP
Pound SterlingCanadian Dollar1 GBP = 1.826 CAD1 CAD = 0.548 GBP
Pound SterlingSwiss Franc1 GBP = 1.501 CHF1 CHF = 0.666 GBP
Pound SterlingChinese Yuan1 GBP = 10.482 CNY1 CNY = 0.095 GBP
Australian DollarCanadian Dollar1 AUD = 1.016 CAD1 CAD = 0.984 AUD
Australian DollarSwiss Franc1 AUD = 0.835 CHF1 CHF = 1.197 AUD
Australian DollarChinese Yuan1 AUD = 5.837 CNY1 CNY = 0.171 AUD
Canadian DollarSwiss Franc1 CAD = 0.821 CHF1 CHF = 1.218 CAD
Canadian DollarChinese Yuan1 CAD = 5.740 CNY1 CNY = 0.174 CAD
Swiss FrancChinese Yuan1 CHF = 6.983 CNY1 CNY = 0.143 CHF

See what else happened on May 16, 2014