Financial news on September 28, 2012
Business and Financial news
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..
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..
September 27, 2012 - Real estate listings languish over fracking fears in Catskills. Read more..
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..
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..
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..
Wall Street closed broadly higher even though weak American data reflected the nation’s sluggish economic growth. Read more..
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..
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..
Values are reported in US Dollars
|Wells Fargo & Co.||WFC||34,61||34,86||34,47||34,53||21.5M|
|Johnson & Johnson||JNJ||68,77||69,04||68,50||68,91||10.3M|
|Procter & Gamble||PG||69,25||69,42||68,64||69,36||8.96M|
|Walt Disney & Co.||DIS||52,41||52,53||52,05||52,28||6.7M|
|International Business Machines||IBM||205,66||208,32||205,31||207,45||4.91M|
Exchange Rates of September 28, 2012
|US Dollar||Japanese Yen||1 USD = 77,960 JPY||1 JPY = 0,013 USD|
|US Dollar||Canadian Dollar||1 USD = 0,983 CAD||1 CAD = 1,017 USD|
|US Dollar||Swiss Franc||1 USD = 0,940 CHF||1 CHF = 1,064 USD|
|US Dollar||Chinese Yuan||1 USD = 6,285 CNY||1 CNY = 0,159 USD|
|Euro||Japanese Yen||1 EUR = 100,290 JPY||1 JPY = 0,010 EUR|
|Euro||Pound Sterling||1 EUR = 0,796 GBP||1 GBP = 1,257 EUR|
|Euro||Australian Dollar||1 EUR = 1,239 AUD||1 AUD = 0,807 EUR|
|Euro||Canadian Dollar||1 EUR = 1,264 CAD||1 CAD = 0,791 EUR|
|Euro||Swiss Franc||1 EUR = 1,208 CHF||1 CHF = 0,828 EUR|
|Euro||Chinese Yuan||1 EUR = 8,082 CNY||1 CNY = 0,124 EUR|
|Japanese Yen||Pound Sterling||1 JPY = 0,794 GBP||1 GBP = 1,260 JPY|
|Japanese Yen||Australian Dollar||1 JPY = 1,236 AUD||1 AUD = 0,809 JPY|
|Japanese Yen||Canadian Dollar||1 JPY = 1,262 CAD||1 CAD = 0,792 JPY|
|Japanese Yen||Swiss Franc||1 JPY = 1,206 CHF||1 CHF = 0,829 JPY|
|Pound Sterling||Australian Dollar||1 GBP = 1,558 AUD||1 AUD = 0,642 GBP|
|Pound Sterling||Canadian Dollar||1 GBP = 1,591 CAD||1 CAD = 0,629 GBP|
|Pound Sterling||Swiss Franc||1 GBP = 1,519 CHF||1 CHF = 0,659 GBP|
|Pound Sterling||Chinese Yuan||1 GBP = 10,156 CNY||1 CNY = 0,098 GBP|
|Australian Dollar||Canadian Dollar||1 AUD = 1,020 CAD||1 CAD = 0,980 AUD|
|Australian Dollar||Swiss Franc||1 AUD = 0,974 CHF||1 CHF = 1,027 AUD|
|Australian Dollar||Chinese Yuan||1 AUD = 6,519 CNY||1 CNY = 0,153 AUD|
|Canadian Dollar||Swiss Franc||1 CAD = 0,954 CHF||1 CHF = 1,048 CAD|
|Canadian Dollar||Chinese Yuan||1 CAD = 6,385 CNY||1 CNY = 0,157 CAD|
|Swiss Franc||Chinese Yuan||1 CHF = 6,688 CNY||1 CNY = 0,150 CHF|