Financial news on September 28, 2012

Business and Financial news
Ammunition for a Trade War Between U.S. and Mexico

Commerce Department signals that it might be willing to end a 16-year-old agreement between the United States and some Mexican growers that has kept the price of Mexican tomatoes relatively low for American consumers; Florida growers have long complained that they cannot compete with the low cost of Mexican tomatoes, which account for half those consumed in the US. Read more..

By STEPHANIE STROM and ELISABETH MALKIN - The New York Times

BlackBerry Maker Posts a Narrower Loss, and Stock Jumps in After-Hours Trading

Research in Motion, troubled manufacturer of the BlackBerry smartphone, reports a second-quarter net loss of $235 million, smaller than the first-quarter loss of $518 million, but down sharply from a $329 million profit in the year-ago quarter; company continues to face a difficult future as it struggles to get a new model out the door. Read more..

By IAN AUSTEN - The New York Times

Concern Over Fracking in the Catskills

September 27, 2012 - Real estate listings languish over fracking fears in Catskills. Read more..

Mac William Bishop - The New York Times

European Automakers Face a Stunted Future

Automakers at the Paris Motor Show say even if auto sales recover slightly in 2013, it could be years before sales return to the levels of 2007, when they peaked just before the financial crisis; new passenger car registrations in the European Union have declined steadily, and are down 7 percent so far in 2012. Read more..

By JACK EWING - The New York Times

Europe to Seek Sanctions Against U.S. Over Boeing Subsidies

European Commission will seek to impose up to $12 billion a year in sanctions against the United States in retaliation for US government subsidies to Boeing, move that brings the two economies closer to a trans-Atlantic trade war. Read more..

By NICOLA CLARK - The New York Times

Nike Profit Falls 12% as Higher Costs Outweigh Strong Sales

Nike reports fiscal first-quarter net income fell to $567 million, or $1.23 a share, from $645 million, or $1.36 a share, in the same period a year earlier, citing increased costs and advertising spending; revenue rose 10 percent to $6.67 billion. Read more..

By THE ASSOCIATED PRESS - The New York Times

Stocks Gain Despite Economic Data

Wall Street closed broadly higher even though weak American data reflected the nation’s sluggish economic growth. Read more..

By REUTERS - The New York Times

The Myth of Fixing the Libor

Floyd Norris High & Low Finance column contends it is unlikely that the London interbank offered rate can be repaired, despite plans by top British banking regulator Martin Wheatley to establish a new, more independent group to set it; argues that the essential problem with such benchmark rates is that they are not based on observable transactions. Read more..

By FLOYD NORRIS - The New York Times

Uranium Plant Using Laser Technology Wins U.S. Approval

Nuclear power partnership of General Electric and Hitachi receives Nuclear Regulatory Commission approval to build a plant near Raleigh, NC, the first to enrich uranium for use in commercial reactors using a classified laser technology; approval causes alarm among some advocates of nuclear weapons control, who say there is an increased risk of technology falling into the wrong hands. Read more..

By THE ASSOCIATED PRESS - The New York Times

Stock Markets

Values are reported in US Dollars

StockTicker symbolOpenHighLowCloseVolume
General ElectricGE22,7722,9622,6222,7170.9M
FacebookFB20,5721,9520,5021,6665.5M
Cisco SystemsCSCO19,0019,3619,0019,1061.1M
AT&T Inc.T37,9137,9737,6037,7059.9M
MicrosoftMSFT30,1830,2629,7429,7654.2M
IntelINTC23,0623,0622,5922,6647.9M
Verizon CommunicationsVZ45,6345,7045,2645,5728.2M
Oracle Corp.ORCL31,1331,6131,0731,4627M
PfizerPFE25,0025,0024,7624,8525.3M
Abbott LaboratoriesABT69,3469,3468,4168,5625.2M
Coca-ColaKO38,1738,2237,9037,9322.7M
HP Inc.HPQ17,1717,3216,9617,0622.7M
Wells Fargo & Co.WFC34,6134,8634,4734,5321.5M
JPMorgan ChaseJPM40,4240,6340,1640,4821.4M
Bristol-Myers SquibbBMY33,7833,8733,6433,7521M
AltriaMO33,8033,8733,2333,3920.1M
AppleAAPL678,75681,11666,75667,1119.1M
ExxonMobilXOM91,4891,6590,9391,4512.5M
MerckMRK45,0545,2144,7845,1012.5M
ComcastCMCSA35,7535,9435,5735,7510.3M
Johnson & JohnsonJNJ68,7769,0468,5068,9110.3M
McDonald'sMCD92,0192,0190,4091,759.52M
Procter & GamblePG69,2569,4268,6469,368.96M
General MotorsGM23,0023,1022,7122,758.61M
Home DepotHD59,6860,4259,4160,377.74M
Walt Disney & Co.DIS52,4152,5352,0552,286.7M
Gilead SciencesGILD66,4766,6165,5966,336.27M
United TechnologiesUTX77,4878,4176,9378,296.07M
Wal-Mart StoresWMT73,8674,0673,4273,806.02M
UnitedHealth GroupUNH55,9555,9855,1855,415.84M
SchlumbergerSLB73,3273,3271,9972,335.77M
ChevronCVX116,88116,89116,15116,565.63M
AlphabetGOOGL754,15759,30751,15754,505.56M
Berkshire HathawayBRK.B88,3088,5087,4188,205.25M
PepsicoPEP70,6270,8070,3570,775.02M
ConocoPhillipsCOP57,1757,3256,8357,185.01M
International Business MachinesIBM205,66208,32205,31207,454.91M
BoeingBA69,7570,0569,1869,604.06M
AmgenAMGN83,9984,5383,6184,293.63M
3MMMM92,4792,8691,7092,422.56M
Union PacificUNP118,12119,03116,86118,702.55M
AmazonAMZN256,14257,00253,20254,322.46M
VisaV133,98134,62133,24134,282.36M
Exchange Rates of September 28, 2012
CurrenciesExchange Rates
US DollarJapanese Yen1 USD = 77,960 JPY1 JPY = 0,013 USD
US DollarCanadian Dollar1 USD = 0,983 CAD1 CAD = 1,017 USD
US DollarSwiss Franc1 USD = 0,940 CHF1 CHF = 1,064 USD
US DollarChinese Yuan1 USD = 6,285 CNY1 CNY = 0,159 USD
EuroJapanese Yen1 EUR = 100,290 JPY1 JPY = 0,010 EUR
EuroPound Sterling1 EUR = 0,796 GBP1 GBP = 1,257 EUR
EuroAustralian Dollar1 EUR = 1,239 AUD1 AUD = 0,807 EUR
EuroCanadian Dollar1 EUR = 1,264 CAD1 CAD = 0,791 EUR
EuroSwiss Franc1 EUR = 1,208 CHF1 CHF = 0,828 EUR
EuroChinese Yuan1 EUR = 8,082 CNY1 CNY = 0,124 EUR
Japanese YenPound Sterling1 JPY = 0,794 GBP1 GBP = 1,260 JPY
Japanese YenAustralian Dollar1 JPY = 1,236 AUD1 AUD = 0,809 JPY
Japanese YenCanadian Dollar1 JPY = 1,262 CAD1 CAD = 0,792 JPY
Japanese YenSwiss Franc1 JPY = 1,206 CHF1 CHF = 0,829 JPY
Pound SterlingAustralian Dollar1 GBP = 1,558 AUD1 AUD = 0,642 GBP
Pound SterlingCanadian Dollar1 GBP = 1,591 CAD1 CAD = 0,629 GBP
Pound SterlingSwiss Franc1 GBP = 1,519 CHF1 CHF = 0,659 GBP
Pound SterlingChinese Yuan1 GBP = 10,156 CNY1 CNY = 0,098 GBP
Australian DollarCanadian Dollar1 AUD = 1,020 CAD1 CAD = 0,980 AUD
Australian DollarSwiss Franc1 AUD = 0,974 CHF1 CHF = 1,027 AUD
Australian DollarChinese Yuan1 AUD = 6,519 CNY1 CNY = 0,153 AUD
Canadian DollarSwiss Franc1 CAD = 0,954 CHF1 CHF = 1,048 CAD
Canadian DollarChinese Yuan1 CAD = 6,385 CNY1 CNY = 0,157 CAD
Swiss FrancChinese Yuan1 CHF = 6,688 CNY1 CNY = 0,150 CHF

See what else happened on September 28, 2012