Financial news on September 24th, 2012

Business and Financial news
Accounts and People of Note in the Advertising Industry

Black Bag Advertising, San Francisco, was acquired by Essence Digital. The deal is part of expansion plans in the United States for Essence Digital, which is based in London. Read more..

By THE NEW YORK TIMES - The New York Times

A Vanity Fair for France Puts Timing in Question

Conde Nast’s decision to start a French edition of Vanity Fair has some media executives questioning why the publisher insisted on announcing the news now, months ahead of the magazine's 2013 arrival and amid a stubborn economic crisis. Read more..

By ERIC PFANNER - The New York Times

Cable TV Finds an Ally in Mobile Devices

Cable TV's unexpected ally: the mobile device. | At a data center, a peek inside the computing cloud. | How changing technology empowered boutique book publishing. Read more..

Mac William Bishop, Channon Hodge and Pedro Rosado - The New York Times

Fees That Could Spoil the Party in Berlin

A plan by the German copyright collection agency to increase the royalties some clubs, hotels and bars pay to play music is causing an uproar in Berlin, a city known for its relentless nightlife. Read more..

By KEVIN J. O'BRIEN - International Herald Tribune

Ford Workers Approve Pact for Canada

Canadian Auto Workers union at Ford votes to accept a new four-year contract that cuts wages for new employees, but gives lump-sum payments to workers. Read more..


Foxconn Plant Closed After Riot, Company Says

A spokesman said a fight among employees on Sunday night turned into a riot that had to be broken up by thousands of police officers. Read more..

By DAVID BARBOZA and KEITH BRADSHER - International Herald Tribune

Mobile Services and Cable TV Are Unexpected Allies

Little-noticed result of Verizon’s $3.9 billion airwave purchase from several firms is that cable companies can now use the carrier’s retail presence to sell cable packaged with phone and wireless service; partnership signals a major shift for both industries as until recently, wireless and cable companies were archrivals. Read more..

By AMY CHOZICK - The New York Times

News From the Advertising Industry

Account assignments, executive appointments and miscellaneous news from advertising agencies. Read more..

By STUART ELLIOTT - The New York Times

Proposed Bill Could Change Royalty Rates for Internet Radio

Internet radio services like Pandora hope the Internet Radio Fairness Act will lower the royalty rates they pay copyright holders to levels paid by satellite radio; Pandora's position is supported by other digital services and by the National Association of Broadcasters, but throughout the music industry there is wide belief that Pandora could solve its financial problems by selling more advertising. Read more..

By BEN SISARIO - The New York Times

U.S. Warning to Hospitals on Medicare Bill Abuses

The Obama administration cited “troubling signs” of abuse from the use of electronic records and vowed to prosecute fraud cases. Read more..


Stock Markets

Values are reported in US Dollars

StockTicker symbolOpenHighLowCloseVolume
General ElectricGE22.4022.4522.3022.3636.8M
Cisco SystemsCSCO18.8618.9818.6918.8132.2M
JPMorgan ChaseJPM40.6141.4740.5941.2320.5M
AT&T Inc.T38.3038.4938.2238.2520.1M
Wells Fargo & Co.WFC34.7735.2334.7335.1019.6M
Oracle Corp.ORCL32.2532.4432.0832.2318.5M
HP Inc.HPQ17.4617.4617.1317.2115.9M
Bristol-Myers SquibbBMY33.6033.9633.5233.879.16M
Johnson & JohnsonJNJ68.8869.2068.8169.009.08M
Verizon CommunicationsVZ45.8045.8545.5045.688.86M
Abbott LaboratoriesABT69.6069.7869.3469.618.57M
Procter & GamblePG69.3469.8569.2469.768.36M
UnitedHealth GroupUNH56.0856.6455.8555.986.44M
Walt Disney & Co.DIS52.6753.0552.6152.926.15M
General MotorsGM24.5124.6824.1224.365.69M
Home DepotHD59.3559.5258.8859.395.59M
Gilead SciencesGILD66.7067.4966.5867.165.06M
Berkshire HathawayBRK.B88.9489.6788.6588.664.47M
Wal-Mart StoresWMT74.2074.9674.1874.744.41M
United TechnologiesUTX80.4380.4379.4380.033.64M
International Business MachinesIBM205.02206.06204.90205.293.51M
Union PacificUNP118.76121.45118.60121.112.11M
Exchange Rates of September 24th, 2012
CurrenciesExchange Rates
US DollarJapanese Yen1 USD = 77.850 JPY1 JPY = 0.013 USD
US DollarCanadian Dollar1 USD = 0.978 CAD1 CAD = 1.022 USD
US DollarSwiss Franc1 USD = 0.935 CHF1 CHF = 1.069 USD
US DollarChinese Yuan1 USD = 6.309 CNY1 CNY = 0.158 USD
EuroJapanese Yen1 EUR = 100.660 JPY1 JPY = 0.010 EUR
EuroPound Sterling1 EUR = 0.797 GBP1 GBP = 1.255 EUR
EuroAustralian Dollar1 EUR = 1.240 AUD1 AUD = 0.807 EUR
EuroCanadian Dollar1 EUR = 1.265 CAD1 CAD = 0.791 EUR
EuroSwiss Franc1 EUR = 1.209 CHF1 CHF = 0.827 EUR
EuroChinese Yuan1 EUR = 8.159 CNY1 CNY = 0.123 EUR
Japanese YenPound Sterling1 JPY = 0.791 GBP1 GBP = 1.264 JPY
Japanese YenAustralian Dollar1 JPY = 1.231 AUD1 AUD = 0.812 JPY
Japanese YenCanadian Dollar1 JPY = 1.256 CAD1 CAD = 0.796 JPY
Japanese YenSwiss Franc1 JPY = 1.202 CHF1 CHF = 0.832 JPY
Pound SterlingAustralian Dollar1 GBP = 1.555 AUD1 AUD = 0.643 GBP
Pound SterlingCanadian Dollar1 GBP = 1.587 CAD1 CAD = 0.630 GBP
Pound SterlingSwiss Franc1 GBP = 1.518 CHF1 CHF = 0.659 GBP
Pound SterlingChinese Yuan1 GBP = 10.238 CNY1 CNY = 0.098 GBP
Australian DollarCanadian Dollar1 AUD = 1.020 CAD1 CAD = 0.980 AUD
Australian DollarSwiss Franc1 AUD = 0.975 CHF1 CHF = 1.026 AUD
Australian DollarChinese Yuan1 AUD = 6.579 CNY1 CNY = 0.152 AUD
Canadian DollarSwiss Franc1 CAD = 0.956 CHF1 CHF = 1.046 CAD
Canadian DollarChinese Yuan1 CAD = 6.449 CNY1 CNY = 0.155 CAD
Swiss FrancChinese Yuan1 CHF = 6.743 CNY1 CNY = 0.148 CHF

See what else happened on September 24th, 2012