Financial news on December 21st, 2011

Business and Financial news
A Bundle of Potential in a Ball

The Sphero, produced by Orbotix, is a remote-controlled ball stuffed with miniature technology and five free apps. Read more..

By DAVID POGUE - The New York Times

Internet Poker Operator Admits Deceit

Brent Beckley pleads guilty to a criminal charge related to breaking Internet gambling laws in connection with Absolute Poker, company he co-founded; 12 people have been charged in the case involving three of the largest Internet poker companies, Absolute Poker, Full Tilt Poker and PokerStars. Read more..

By REUTERS - The New York Times

Jack Foster

Interview with Franklin Templeton Real Asset Advisors managing director Jack Foster, who discusses asset management business. Read more..

By VIVIAN MARINO - The New York Times

Japan Picks Lockheed to Build Its Next Fighter Jet

Japan selects Lockheed Martin's F-35 jet as its next main fighter aircraft; decision is a boost for the American defense contractor and reflects a desire by nation to tighten its ties with the United States amid heightened fears of instability on the Korean peninsula. Read more..

By HIROKO TABUCHI - The New York Times

Judge Weighs Competency of Ponzi Scheme Defendant

Lawyers for R Allen Stanford, who is accused of running a $7 billion Ponzi scheme, argue that he is incompetent to stand trial due to an addiction to anti-anxiety medication and a brain injury that led to delayed memory loss; prison psychologist who evaluated Stanford says in competency hearing that such memory loss is rare. Read more..

By REUTERS - The New York Times

Nike Posts Strong Orders, Led by 31% Gain in China

Nike's quarterly results beat estimates as company attracts shoppers despite higher prices; orders rose 16 percent; Nike reports earnings of $469 million, or $1 a share, for latest quarter, a rise of 3 percent over year earlier; revenue rose 18 percent to $5.73 billion. Read more..

By REUTERS - The New York Times

Norman Krim, Who Championed the Transistor, Dies at 98

Norman Krim, electronics visionary who played a pivotal role in the industry's transition from the bulky electron vacuum tube, dies at age 98. Read more..

By DENNIS HEVESI - The New York Times

Putting a Positive Spin on Too-Big-to-Fail

Reuters BreakingViews column; international regulators designate 29 banks as global systemically important financial institutions; designated banks will be required to hold more capital, but will also benefit over smaller banks from being classified as too big to fail. Read more..

By ROB COX and PETER THAL LARSEN - The New York Times

Research Groups Cut Forecast for German Economy

One major institute predicted a recession for Europe’s bulwark economy next year, even as another reported a surprise rise in business sentiment. Read more..

By REUTERS - International Herald Tribune

Successful Spanish Debt Auction

Spain's borrowing costs plummet as the European Central Bank begins a new lending program that could encourage banks to buy euro zone government bonds; Spanish Treasury sells 5.6 billion euros ($7.3 billion) of debt, more than the 4.5 billion euros it had planned. Read more..

By DAVID JOLLY - The New York Times

Stock Markets

Values are reported in US Dollars

StockTicker symbolOpenHighLowCloseVolume
Oracle Corp.ORCL25.6725.9924.9125.77184M
General ElectricGE17.3217.7717.1517.6980.3M
Cisco SystemsCSCO18.2318.3517.8217.9257.7M
JPMorgan ChaseJPM32.0032.4131.9032.3230.9M
Wells Fargo & Co.WFC26.5626.8926.2126.8928.6M
AT&T Inc.T29.1529.3029.0329.3027.6M
Abbott LaboratoriesABT54.7455.4654.7255.4421.4M
HP Inc.HPQ25.7625.8825.0425.4419.7M
Verizon CommunicationsVZ39.3239.4938.8939.2315M
General MotorsGM19.7420.4419.5820.3213.1M
Home DepotHD41.9242.0541.5642.0012.1M
Procter & GamblePG65.5066.0065.5066.009.48M
International Business MachinesIBM183.22183.50179.04181.479.28M
Wal-Mart StoresWMT59.1959.6659.1659.398.57M
Johnson & JohnsonJNJ64.8165.0064.5864.968.52M
Walt Disney & Co.DIS36.2336.7035.7536.278.23M
Bristol-Myers SquibbBMY34.9035.2934.8835.298.17M
UnitedHealth GroupUNH49.8350.0049.5549.996.7M
United TechnologiesUTX74.6774.9172.8673.626.17M
Gilead SciencesGILD38.2038.8738.0838.855.72M
Berkshire HathawayBRK.B76.3476.3475.5076.224.89M
Union PacificUNP101.46103.1399.93103.023.6M
Exchange Rates of December 21st, 2011
CurrenciesExchange Rates
US DollarJapanese Yen1 USD = 78.050 JPY1 JPY = 0.013 USD
US DollarCanadian Dollar1 USD = 1.026 CAD1 CAD = 0.975 USD
US DollarSwiss Franc1 USD = 0.936 CHF1 CHF = 1.069 USD
US DollarChinese Yuan1 USD = 6.339 CNY1 CNY = 0.158 USD
EuroJapanese Yen1 EUR = 101.840 JPY1 JPY = 0.010 EUR
EuroPound Sterling1 EUR = 0.832 GBP1 GBP = 1.202 EUR
EuroAustralian Dollar1 EUR = 1.291 AUD1 AUD = 0.775 EUR
EuroCanadian Dollar1 EUR = 1.339 CAD1 CAD = 0.747 EUR
EuroSwiss Franc1 EUR = 1.221 CHF1 CHF = 0.819 EUR
EuroChinese Yuan1 EUR = 8.256 CNY1 CNY = 0.121 EUR
Japanese YenPound Sterling1 JPY = 0.817 GBP1 GBP = 1.224 JPY
Japanese YenAustralian Dollar1 JPY = 1.268 AUD1 AUD = 0.789 JPY
Japanese YenCanadian Dollar1 JPY = 1.314 CAD1 CAD = 0.761 JPY
Japanese YenSwiss Franc1 JPY = 1.199 CHF1 CHF = 0.834 JPY
Pound SterlingAustralian Dollar1 GBP = 1.551 AUD1 AUD = 0.645 GBP
Pound SterlingCanadian Dollar1 GBP = 1.608 CAD1 CAD = 0.622 GBP
Pound SterlingSwiss Franc1 GBP = 1.466 CHF1 CHF = 0.682 GBP
Pound SterlingChinese Yuan1 GBP = 9.921 CNY1 CNY = 0.101 GBP
Australian DollarCanadian Dollar1 AUD = 1.036 CAD1 CAD = 0.965 AUD
Australian DollarSwiss Franc1 AUD = 0.945 CHF1 CHF = 1.058 AUD
Australian DollarChinese Yuan1 AUD = 6.388 CNY1 CNY = 0.157 AUD
Canadian DollarSwiss Franc1 CAD = 0.912 CHF1 CHF = 1.097 CAD
Canadian DollarChinese Yuan1 CAD = 6.168 CNY1 CNY = 0.162 CAD
Swiss FrancChinese Yuan1 CHF = 6.761 CNY1 CNY = 0.148 CHF

See what else happened on December 21st, 2011