Financial news on May 21, 2014
Business and Financial news
General Motors issues four new recalls, bringing its total for 2014 to 13.5 million vehicles; recalls represent extraordinary about-face for nation's largest automaker, but newly aggressive approach to safety has not mollified some of GM's toughest critics. Read more..
The German lender Commerzbank said the traders were suspended for breaking internal rules, calling the incident “isolated” and stating that “the bank and the individuals concerned in no way profited.” Read more..
During the first three months of this year, 18.8 percent of homeowners with a mortgage — 9.7 million — owed more on their loans than their properties would sell for. Read more..
Lower Manhattan is poised to undergo revival as post 9/11 construction ends, turning area into shopping destination with two massive retail centers; 150 stores are planned for World Trade Center retail complex, with luxury boutiques and food specialty shops along Hudson River. Read more..
NPR says it will cancel its midday program Tell Me More, which was meant to attract African-Americans and other listeners of color; decision is part of efforts to close $6 million deficit, and will eliminate 28 jobs across newsroom; NPR’s board has adopted strategic plan, including mandate to expand diversity, and hired new chief executive, Jarl Mohn, who promises similar focus on appealing to more diverse audiences. Read more..
Petco says it will stop selling dog and cat treats made in China due to persistent fears that they are making pets sick; Food and Drug Administration investigators began receiving reports of illnesses in 2007, with latest update saying it has received more than 4,800 complaints and more than 1,000 reports of dog deaths resulting from Chinese-made jerky treats. Read more..
Four ways to cut your expenses. One hundred websites for entrepreneurs. Would small-business owners do it all over again? Read more..
GMC emerges as G.M.’s strongest post-bankruptcy marque; the company that bought Fisker promises to build E.V.s in the United States. Read more..
Yum Brands says Brian Niccol will take helm at Taco Bell, its thriving Mexican fast-food chain; will replace current chief executive Greg Creed when he takes over as chief executive of Yum in 2015. Read more..
Andrew Adam Newman Advertising column; Zico is introducing its largest advertising campaign, featuring actress Jessica Alba, that portrays its coconut water as an anytime beverage instead of just a sports drink. Read more..
Values are reported in US Dollars
|Wells Fargo & Co.||WFC||49.18||49.81||49.16||49.67||12.9M|
|Procter & Gamble||PG||80.34||80.67||80.02||80.49||6.34M|
|Johnson & Johnson||JNJ||100.60||101.20||100.53||101.14||5.3M|
|Walt Disney & Co.||DIS||81.42||82.34||81.42||82.19||4.74M|
|International Business Machines||IBM||185.85||187.16||184.95||186.39||2.99M|
Exchange Rates of May 21, 2014
|US Dollar||Japanese Yen||1 USD = 101.430 JPY||1 JPY = 0.010 USD|
|US Dollar||Canadian Dollar||1 USD = 1.091 CAD||1 CAD = 0.916 USD|
|US Dollar||Swiss Franc||1 USD = 0.893 CHF||1 CHF = 1.120 USD|
|US Dollar||Chinese Yuan||1 USD = 6.234 CNY||1 CNY = 0.160 USD|
|Euro||Japanese Yen||1 EUR = 138.810 JPY||1 JPY = 0.007 EUR|
|Euro||Pound Sterling||1 EUR = 0.810 GBP||1 GBP = 1.235 EUR|
|Euro||Australian Dollar||1 EUR = 1.480 AUD||1 AUD = 0.676 EUR|
|Euro||Canadian Dollar||1 EUR = 1.494 CAD||1 CAD = 0.669 EUR|
|Euro||Swiss Franc||1 EUR = 1.223 CHF||1 CHF = 0.818 EUR|
|Euro||Chinese Yuan||1 EUR = 8.531 CNY||1 CNY = 0.117 EUR|
|Japanese Yen||Pound Sterling||1 JPY = 0.583 GBP||1 GBP = 1.715 JPY|
|Japanese Yen||Australian Dollar||1 JPY = 1.065 AUD||1 AUD = 0.939 JPY|
|Japanese Yen||Canadian Dollar||1 JPY = 1.076 CAD||1 CAD = 0.930 JPY|
|Japanese Yen||Swiss Franc||1 JPY = 0.881 CHF||1 CHF = 1.136 JPY|
|Pound Sterling||Australian Dollar||1 GBP = 1.827 AUD||1 AUD = 0.547 GBP|
|Pound Sterling||Canadian Dollar||1 GBP = 1.844 CAD||1 CAD = 0.542 GBP|
|Pound Sterling||Swiss Franc||1 GBP = 1.510 CHF||1 CHF = 0.662 GBP|
|Pound Sterling||Chinese Yuan||1 GBP = 10.533 CNY||1 CNY = 0.095 GBP|
|Australian Dollar||Canadian Dollar||1 AUD = 1.009 CAD||1 CAD = 0.991 AUD|
|Australian Dollar||Swiss Franc||1 AUD = 0.826 CHF||1 CHF = 1.211 AUD|
|Australian Dollar||Chinese Yuan||1 AUD = 5.764 CNY||1 CNY = 0.173 AUD|
|Canadian Dollar||Swiss Franc||1 CAD = 0.818 CHF||1 CHF = 1.222 CAD|
|Canadian Dollar||Chinese Yuan||1 CAD = 5.711 CNY||1 CNY = 0.175 CAD|
|Swiss Franc||Chinese Yuan||1 CHF = 6.977 CNY||1 CNY = 0.143 CHF|