Financial news on May 21, 2014

Business and Financial news
A Flurry of Recalls at G.M. as Pressure Mounts

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..

By BILL VLASIC and CHRISTOPHER JENSEN - The New York Times

Commerzbank Suspends 2 Currency Traders

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..

By CHAD BRAY - The New York Times

Fewer Mortgages Are ‘Underwater’

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..

By THE ASSOCIATED PRESS - The New York Times

Lower Manhattan Will Undergo a Retail Revival

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..

By JULIE SATOW - The New York Times

NPR Ending a Program With Focus on Diversity

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..

By ELIZABETH JENSEN - The New York Times

Petco to Stop Selling Treats Made in China

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..

By THE ASSOCIATED PRESS - The New York Times

Today in Small Business: Why Most Successful Start-Ups Are Self-Funded

Four ways to cut your expenses. One hundred websites for entrepreneurs. Would small-business owners do it all over again? Read more..

By GENE MARKS - The New York Times

Wheelies: The Luxury G.M. Trucks Edition

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..

By BENJAMIN PRESTON - The New York Times

Yum Brands Sets Plan for Transition at Taco Bell

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..

By STEPHANIE STROM - The New York Times

Zico’s New Coconut Water Pitch: Spandex Not Necessary

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..

By ANDREW ADAM NEWMAN - The New York Times

Stock Markets

Values are reported in US Dollars

StockTicker symbolOpenHighLowCloseVolume
Cisco SystemsCSCO24.2224.6524.1724.4865.3M
FacebookFB58.5660.5058.2560.4959M
AT&T Inc.T35.6735.7135.0935.2732.7M
MicrosoftMSFT39.8040.3539.7440.3522.4M
PfizerPFE29.2529.9229.2029.5721.4M
IntelINTC26.1026.2526.0026.2018.7M
General ElectricGE26.3726.5226.3526.4917.4M
Verizon CommunicationsVZ48.9049.3648.8249.1713.9M
JPMorgan ChaseJPM54.0554.6053.9854.1213.2M
Wells Fargo & Co.WFC49.1849.8149.1649.6712.9M
ComcastCMCSA50.6051.3850.5351.3512.6M
General MotorsGM33.1533.6233.1033.4612.4M
Oracle Corp.ORCL41.6741.7941.4841.6811.2M
HP Inc.HPQ32.9833.0932.3832.5210.3M
Gilead SciencesGILD81.2681.9880.6881.819.04M
Coca-ColaKO40.5540.8840.5040.878.61M
AltriaMO40.1040.7740.0140.647.95M
ExxonMobilXOM100.85102.22100.72102.037.75M
AppleAAPL603.83606.70602.06606.317.03M
Home DepotHD78.2578.5177.7578.086.69M
MerckMRK56.2056.6256.1356.586.65M
Procter & GamblePG80.3480.6780.0280.496.34M
Wal-Mart StoresWMT75.9475.9675.2775.665.7M
Johnson & JohnsonJNJ100.60101.20100.53101.145.3M
Bristol-Myers SquibbBMY48.9249.1548.6848.715.16M
ChevronCVX123.00124.36122.94124.164.76M
Walt Disney & Co.DIS81.4282.3481.4282.194.74M
ConocoPhillipsCOP78.2478.6678.0478.534.48M
Abbott LaboratoriesABT39.5539.6739.3639.564.35M
SchlumbergerSLB100.84101.74100.81101.584.11M
AmazonAMZN302.21305.96301.52305.013.41M
United TechnologiesUTX113.60114.96113.60114.843.33M
International Business MachinesIBM185.85187.16184.95186.392.99M
AmgenAMGN112.08113.84111.96113.492.81M
McDonald'sMCD101.71102.58101.55102.562.74M
PepsicoPEP85.7886.1585.5386.102.65M
BoeingBA130.43131.43130.04130.962.48M
UnitedHealth GroupUNH76.7177.8876.6377.722.4M
VisaV208.85210.67208.59210.102.27M
Berkshire HathawayBRK.B126.50126.94126.22126.661.92M
3MMMM139.77140.79139.77140.661.64M
AlphabetGOOGL542.90549.75542.11549.701.56M
Union PacificUNP194.58196.03194.44195.251.54M
Exchange Rates of May 21, 2014
CurrenciesExchange Rates
US DollarJapanese Yen1 USD = 101.430 JPY1 JPY = 0.010 USD
US DollarCanadian Dollar1 USD = 1.091 CAD1 CAD = 0.916 USD
US DollarSwiss Franc1 USD = 0.893 CHF1 CHF = 1.120 USD
US DollarChinese Yuan1 USD = 6.234 CNY1 CNY = 0.160 USD
EuroJapanese Yen1 EUR = 138.810 JPY1 JPY = 0.007 EUR
EuroPound Sterling1 EUR = 0.810 GBP1 GBP = 1.235 EUR
EuroAustralian Dollar1 EUR = 1.480 AUD1 AUD = 0.676 EUR
EuroCanadian Dollar1 EUR = 1.494 CAD1 CAD = 0.669 EUR
EuroSwiss Franc1 EUR = 1.223 CHF1 CHF = 0.818 EUR
EuroChinese Yuan1 EUR = 8.531 CNY1 CNY = 0.117 EUR
Japanese YenPound Sterling1 JPY = 0.583 GBP1 GBP = 1.715 JPY
Japanese YenAustralian Dollar1 JPY = 1.065 AUD1 AUD = 0.939 JPY
Japanese YenCanadian Dollar1 JPY = 1.076 CAD1 CAD = 0.930 JPY
Japanese YenSwiss Franc1 JPY = 0.881 CHF1 CHF = 1.136 JPY
Pound SterlingAustralian Dollar1 GBP = 1.827 AUD1 AUD = 0.547 GBP
Pound SterlingCanadian Dollar1 GBP = 1.844 CAD1 CAD = 0.542 GBP
Pound SterlingSwiss Franc1 GBP = 1.510 CHF1 CHF = 0.662 GBP
Pound SterlingChinese Yuan1 GBP = 10.533 CNY1 CNY = 0.095 GBP
Australian DollarCanadian Dollar1 AUD = 1.009 CAD1 CAD = 0.991 AUD
Australian DollarSwiss Franc1 AUD = 0.826 CHF1 CHF = 1.211 AUD
Australian DollarChinese Yuan1 AUD = 5.764 CNY1 CNY = 0.173 AUD
Canadian DollarSwiss Franc1 CAD = 0.818 CHF1 CHF = 1.222 CAD
Canadian DollarChinese Yuan1 CAD = 5.711 CNY1 CNY = 0.175 CAD
Swiss FrancChinese Yuan1 CHF = 6.977 CNY1 CNY = 0.143 CHF

See what else happened on May 21, 2014