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

Stock Ticker symbol Open High Low Close Volume
General Electric GE 22,77 22,96 22,62 22,71 70.9M
Facebook FB 20,57 21,95 20,50 21,66 65.5M
Cisco Systems CSCO 19,00 19,36 19,00 19,10 61.1M
AT&T Inc. T 37,91 37,97 37,60 37,70 59.9M
Microsoft MSFT 30,18 30,26 29,74 29,76 54.2M
Intel INTC 23,06 23,06 22,59 22,66 47.9M
Verizon Communications VZ 45,63 45,70 45,26 45,57 28.2M
Oracle Corp. ORCL 31,13 31,61 31,07 31,46 27M
Pfizer PFE 25,00 25,00 24,76 24,85 25.3M
Abbott Laboratories ABT 69,34 69,34 68,41 68,56 25.2M
Coca-Cola KO 38,17 38,22 37,90 37,93 22.7M
HP Inc. HPQ 17,17 17,32 16,96 17,06 22.7M
Wells Fargo & Co. WFC 34,61 34,86 34,47 34,53 21.5M
JPMorgan Chase JPM 40,42 40,63 40,16 40,48 21.4M
Bristol-Myers Squibb BMY 33,78 33,87 33,64 33,75 21M
Altria MO 33,80 33,87 33,23 33,39 20.1M
Apple AAPL 678,75 681,11 666,75 667,11 19.1M
ExxonMobil XOM 91,48 91,65 90,93 91,45 12.5M
Merck MRK 45,05 45,21 44,78 45,10 12.5M
Comcast CMCSA 35,75 35,94 35,57 35,75 10.3M
Johnson & Johnson JNJ 68,77 69,04 68,50 68,91 10.3M
McDonald's MCD 92,01 92,01 90,40 91,75 9.52M
Procter & Gamble PG 69,25 69,42 68,64 69,36 8.96M
General Motors GM 23,00 23,10 22,71 22,75 8.61M
Home Depot HD 59,68 60,42 59,41 60,37 7.74M
Walt Disney & Co. DIS 52,41 52,53 52,05 52,28 6.7M
Gilead Sciences GILD 66,47 66,61 65,59 66,33 6.27M
United Technologies UTX 77,48 78,41 76,93 78,29 6.07M
Wal-Mart Stores WMT 73,86 74,06 73,42 73,80 6.02M
UnitedHealth Group UNH 55,95 55,98 55,18 55,41 5.84M
Schlumberger SLB 73,32 73,32 71,99 72,33 5.77M
Chevron CVX 116,88 116,89 116,15 116,56 5.63M
Alphabet GOOGL 754,15 759,30 751,15 754,50 5.56M
Berkshire Hathaway BRK.B 88,30 88,50 87,41 88,20 5.25M
Pepsico PEP 70,62 70,80 70,35 70,77 5.02M
ConocoPhillips COP 57,17 57,32 56,83 57,18 5.01M
International Business Machines IBM 205,66 208,32 205,31 207,45 4.91M
Boeing BA 69,75 70,05 69,18 69,60 4.06M
Amgen AMGN 83,99 84,53 83,61 84,29 3.63M
3M MMM 92,47 92,86 91,70 92,42 2.56M
Union Pacific UNP 118,12 119,03 116,86 118,70 2.55M
Amazon AMZN 256,14 257,00 253,20 254,32 2.46M
Visa V 133,98 134,62 133,24 134,28 2.36M
Exchange Rates of September 28, 2012
CurrenciesExchange Rates
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

See what else happened on September 28, 2012