Financial news on April 17th, 2012

Business and Financial news
An Unexpected Memento While Walking at O’Hare, And Other Misadventures

Frequent Flier column features Daily Grommet chief executive and co-founder Jules Pieri discussing her flying experiences. Read more..

By JULES PIERI - The New York Times

Gannett Posts 25% Decline in Earnings

Gannett Co reports 25 percent decline in first-quarter profit as advertising in its newspapers continues to decline; earnings were $68.2 million, or 28 cents a share, down from $90.5 million, or 37 cents a share, in year-ago quarter; revenue fell 2.6 percent to $1.22 billion from $1.25 billion. Read more..


Growth or Austerity? The Question Isn’t That Simple

Fierce debate is growing in Europe over whether austerity or economic growth offers the best strategy to overcome the continent's sovereign debt crisis. Read more..

By REUTERS - International Herald Tribune

Justices Weigh Overtime Exemption for Drug Firm Representatives

Supreme Court considers whether representatives of pharmaceutical companies who visit doctors' offices to promote their companies' products are entitled to overtime; answer turns on whether those visits are sales calls or something else; defendant in case is GlaxoSmithKline; overturning the exemption and requiring that drug firms pay their representatives overtime could cost the companies billions of dollars in liabilities. Read more..

By ADAM LIPTAK - The New York Times

Maersk Mc-Kinney Moeller, Longtime Shipping Magnate, Dies at 98

Maersk Mc-Kinney Moeller, an immensely rich and powerful Danish businessmen who transformed his family's shipping company into the world’s largest, dies at age 98. Read more..

By DOUGLAS MARTIN - The New York Times

Schwab Reports 20% Profit Drop

Charles Schwab, hurt by lower asset management fees and higher expenses, reports first-quarter profit of $195 million, or 15 cents a share, down 20 percent from $243 million, or 20 cents a share, in year-ago quarter; revenue fell 1 percent to $1.19 billion. Read more..

By REUTERS - The New York Times

Securities Czar Aims to Make China’s Markets Respectable

For Guo Shuqing, gaining the confidence of gun-shy retail investors will be crucial if China is to build stable markets that can fund world-class companies and generate reliable returns for retirees. Read more..

By JASON SUBLER | REUTERS - International Herald Tribune

Solid Retail Sales Lift Large-Cap Shares

Dow Jones industrial average rises as robust retail sales data helps large-cap consumer stocks, but Apple's slide of 4 percent brings down the Nasdaq. Read more..

By REUTERS - The New York Times

Stocks Climb on Profits and Spain’s Debt Sale

Stock markets on both sides of the Atlantic were encouraged by corporate profits, a well-received sale of government debt in Spain and a recovery in Apple shares. Read more..

By VICTORIA SHANNON - The New York Times

When Mom Travels for Work

Some women freeze meals, while others set up grocery delivery services. Others have texting or Skype rituals. For single parents, the transfer of responsibility is even trickier. Read more..

By JULIE WEED - The New York Times

Stock Markets

Values are reported in US Dollars

StockTicker symbolOpenHighLowCloseVolume
General ElectricGE19.0319.3618.9219.3435.5M
Cisco SystemsCSCO19.8120.1519.7520.0828.8M
JPMorgan ChaseJPM43.6944.0043.1643.9026.9M
Oracle Corp.ORCL28.7229.4428.7029.2825M
Wells Fargo & Co.WFC33.3233.7833.2833.6823.7M
AT&T Inc.T30.7730.9530.6730.8921.7M
Johnson & JohnsonJNJ64.2364.2863.2764.2218.3M
HP Inc.HPQ24.4025.0724.3624.7215.9M
Abbott LaboratoriesABT59.9660.5759.7460.4312.6M
Wal-Mart StoresWMT61.1161.9561.0961.8710.7M
Verizon CommunicationsVZ37.6537.9337.4937.7410.3M
General MotorsGM23.5924.5423.5524.0410.3M
Bristol-Myers SquibbBMY33.0533.4232.9033.399.79M
Home DepotHD51.7952.1551.2652.039.05M
Procter & GamblePG66.9167.2066.8367.028.89M
Walt Disney & Co.DIS41.8842.7441.8842.686.55M
International Business MachinesIBM204.57207.64204.15207.456.07M
UnitedHealth GroupUNH57.6158.4057.3058.105.9M
Berkshire HathawayBRK.B80.2880.9979.8780.764.63M
Gilead SciencesGILD46.2146.9246.1146.684.58M
United TechnologiesUTX80.3781.6080.1181.243.02M
Union PacificUNP108.56109.67108.25109.202.5M
Exchange Rates of April 17th, 2012
CurrenciesExchange Rates
US DollarJapanese Yen1 USD = 80.870 JPY1 JPY = 0.012 USD
US DollarCanadian Dollar1 USD = 0.990 CAD1 CAD = 1.010 USD
US DollarSwiss Franc1 USD = 0.915 CHF1 CHF = 1.093 USD
US DollarChinese Yuan1 USD = 6.302 CNY1 CNY = 0.159 USD
EuroJapanese Yen1 EUR = 106.170 JPY1 JPY = 0.009 EUR
EuroPound Sterling1 EUR = 0.824 GBP1 GBP = 1.214 EUR
EuroAustralian Dollar1 EUR = 1.262 AUD1 AUD = 0.792 EUR
EuroCanadian Dollar1 EUR = 1.300 CAD1 CAD = 0.769 EUR
EuroSwiss Franc1 EUR = 1.201 CHF1 CHF = 0.833 EUR
EuroChinese Yuan1 EUR = 8.273 CNY1 CNY = 0.121 EUR
Japanese YenPound Sterling1 JPY = 0.776 GBP1 GBP = 1.289 JPY
Japanese YenAustralian Dollar1 JPY = 1.189 AUD1 AUD = 0.841 JPY
Japanese YenCanadian Dollar1 JPY = 1.224 CAD1 CAD = 0.817 JPY
Japanese YenSwiss Franc1 JPY = 1.131 CHF1 CHF = 0.884 JPY
Pound SterlingAustralian Dollar1 GBP = 1.532 AUD1 AUD = 0.653 GBP
Pound SterlingCanadian Dollar1 GBP = 1.577 CAD1 CAD = 0.634 GBP
Pound SterlingSwiss Franc1 GBP = 1.457 CHF1 CHF = 0.686 GBP
Pound SterlingChinese Yuan1 GBP = 10.036 CNY1 CNY = 0.100 GBP
Australian DollarCanadian Dollar1 AUD = 1.029 CAD1 CAD = 0.972 AUD
Australian DollarSwiss Franc1 AUD = 0.951 CHF1 CHF = 1.051 AUD
Australian DollarChinese Yuan1 AUD = 6.550 CNY1 CNY = 0.153 AUD
Canadian DollarSwiss Franc1 CAD = 0.924 CHF1 CHF = 1.083 CAD
Canadian DollarChinese Yuan1 CAD = 6.365 CNY1 CNY = 0.157 CAD
Swiss FrancChinese Yuan1 CHF = 6.885 CNY1 CNY = 0.145 CHF

See what else happened on April 17th, 2012