Financial news on March 21st, 2014

Business and Financial news
Another Price Cut for the Xbox One

On Friday, Walmart and Best Buy began offering a bundle of Microsoft’s Xbox One and Titanfall, a high-profile science fiction shooter game, for $450, a $50 price cut on the bundle. Read more..

By NICK WINGFIELD - The New York Times

Arkansas Court Reverses $1.2 Billion Judgment Against Johnson & Johnson

Arkansas Supreme Court reverses a $1.2 billion judgment against Johnson & Johnson, finding that the state attorney general erred by suing under a law that applied to health care facilities, not drug companies; judgement was one of the largest in history for a state fraud case. Read more..

By KATIE THOMAS - The New York Times

Asian Tycoon Sells Stake in Sprawling Retail Unit

Li Ka-shing agrees to sell a stake of A.S. Watson, which has a global network of more than 10,000 stores, to Temasek in Singapore for $5.7 billion. Read more..

By NEIL GOUGH - The New York Times

Douglas Merrill of ZestFinance: Steer Clear of What You Can’t Measure

Adam Bryant Corner Office column features interview with Douglas Merrill, chief executive of big-data underwriting company ZestFinance, who discusses his career and management technique. Read more..

By ADAM BRYANT - The New York Times

Microsoft Software Leak Inquiry Raises Privacy Issues

The company conducted an inquiry by reading through email and instant messages, which may violate its promise of privacy, highlighting the power technology companies have to snoop on their customers. Read more..


Pandora Wins a Battle, but the War Over Royalties Continues

A judge’s decision on royalty rates the streaming-music service must pay to the licensing group, Ascap, appears to have split the issue down the middle. Read more..

By BEN SISARIO - The New York Times

Sales Surging Ahead of World Cup, Nike Posts a Higher Profit

Nike reports better-than-expected quarterly earnings of $685 million, or 76 cents a share, in its fiscal third quarter, down from $866 million, or 73 cents a share on year earlier; cites soaring global orders in lead up to the World Cup soccer championship. Read more..

By REUTERS - The New York Times

U.S. and California Officials Enter Battle Over Facebook Privacy Settlement

Critics say a judge erred when he accepted Facebook’s argument that a federal privacy law for children under 13 preempted state protections for older children. Read more..

By VINDU GOEL - The New York Times

Why Android Wear Is the Beginning of the Wearable Devices Era

Every hardware platform needs software to be successful. By giving manufacturers a known operating system to work with, Google’s could jump-start the wearables industry. Read more..

By MOLLY WOOD - The New York Times

Wind Industry’s New Technologies Are Helping It Compete on Price

Emerging technologies are allowing wind industry to lower its prices to compete with conventional energy sources like coal, and to transform areas of the Midwest, once thought too expensive, into wind powerhouses; taller machines spinning longer blades are allowing companies to capture the faster winds that blow at higher elevations, and one start-up is preparing to introduce the first airborne wind turbine, known as a BAT. Read more..

By DIANE CARDWELL - The New York Times

Stock Markets

Values are reported in US Dollars

StockTicker symbolOpenHighLowCloseVolume
Cisco SystemsCSCO21.9422.1021.5821.6497.4M
General ElectricGE25.6925.8325.3425.4055.2M
AT&T Inc.T34.3434.8034.1334.3051M
Verizon CommunicationsVZ47.3047.4146.7046.9138.7M
Gilead SciencesGILD75.6776.2070.8572.0737M
JPMorgan ChaseJPM60.9661.2060.0060.1735.1M
Oracle Corp.ORCL38.7038.8537.5037.5033.9M
Wells Fargo & Co.WFC49.7949.9749.0449.1231M
General MotorsGM35.3935.5034.7835.0124M
Johnson & JohnsonJNJ94.7795.9393.8895.9324M
HP Inc.HPQ31.8332.2131.6531.9523.7M
Abbott LaboratoriesABT39.2139.6038.3638.3921.7M
Procter & GamblePG79.0479.7577.8877.8821.2M
Wal-Mart StoresWMT75.8977.0275.4576.1017.2M
Bristol-Myers SquibbBMY54.3154.9752.0652.0617M
International Business MachinesIBM188.50188.70186.40186.6712.5M
UnitedHealth GroupUNH82.1983.3281.3081.3411.8M
United TechnologiesUTX116.52117.60114.41114.5710.3M
Home DepotHD80.7881.9080.2580.4210.1M
Berkshire HathawayBRK.B125.05125.89124.42125.208.9M
Walt Disney & Co.DIS81.9682.0580.0580.357.84M
Union PacificUNP189.98190.48187.06187.332.87M
Exchange Rates of March 21st, 2014
CurrenciesExchange Rates
US DollarJapanese Yen1 USD = 102.270 JPY1 JPY = 0.010 USD
US DollarCanadian Dollar1 USD = 1.122 CAD1 CAD = 0.891 USD
US DollarSwiss Franc1 USD = 0.883 CHF1 CHF = 1.133 USD
US DollarChinese Yuan1 USD = 6.225 CNY1 CNY = 0.161 USD
EuroJapanese Yen1 EUR = 141.090 JPY1 JPY = 0.007 EUR
EuroPound Sterling1 EUR = 0.837 GBP1 GBP = 1.195 EUR
EuroAustralian Dollar1 EUR = 1.519 AUD1 AUD = 0.659 EUR
EuroCanadian Dollar1 EUR = 1.547 CAD1 CAD = 0.646 EUR
EuroSwiss Franc1 EUR = 1.217 CHF1 CHF = 0.822 EUR
EuroChinese Yuan1 EUR = 8.587 CNY1 CNY = 0.116 EUR
Japanese YenPound Sterling1 JPY = 0.593 GBP1 GBP = 1.687 JPY
Japanese YenAustralian Dollar1 JPY = 1.076 AUD1 AUD = 0.930 JPY
Japanese YenCanadian Dollar1 JPY = 1.097 CAD1 CAD = 0.912 JPY
Japanese YenSwiss Franc1 JPY = 0.863 CHF1 CHF = 1.159 JPY
Pound SterlingAustralian Dollar1 GBP = 1.815 AUD1 AUD = 0.551 GBP
Pound SterlingCanadian Dollar1 GBP = 1.850 CAD1 CAD = 0.541 GBP
Pound SterlingSwiss Franc1 GBP = 1.455 CHF1 CHF = 0.687 GBP
Pound SterlingChinese Yuan1 GBP = 10.262 CNY1 CNY = 0.097 GBP
Australian DollarCanadian Dollar1 AUD = 1.018 CAD1 CAD = 0.982 AUD
Australian DollarSwiss Franc1 AUD = 0.801 CHF1 CHF = 1.248 AUD
Australian DollarChinese Yuan1 AUD = 5.653 CNY1 CNY = 0.177 AUD
Canadian DollarSwiss Franc1 CAD = 0.787 CHF1 CHF = 1.271 CAD
Canadian DollarChinese Yuan1 CAD = 5.548 CNY1 CNY = 0.180 CAD
Swiss FrancChinese Yuan1 CHF = 7.051 CNY1 CNY = 0.142 CHF

See what else happened on March 21st, 2014