Financial news on July 29, 2016

Business and Financial news
Disappointing 2nd-Quarter Growth, Despite Strong Consumer Spending

Latest data shows United States economy grew by 1.2 percent annual rate in second quarter, weakest quarter in four years; negatives include weak housing sector and slow business investment, along with high inventories; household spending, however, rose 4.2 percent. Read more..

By NELSON D. SCHWARTZ - The New York Times

Gloomy Days in the Oil Patch, but Some See a Glimmer of Light

Energy companies are struggling to cope with lackluster oil market caused by worldwide glut and falling demand, partly by cutting production and exploration budgets; analysts, however, predict rebound in oil prices. Read more..

By CLIFFORD KRAUSS and STANLEY REED - The New York Times

Hedge Fund Calls New York Times Article a ‘Distortion’

Bridgewater Associates, world's biggest hedge fund, disputes 'significant mischaracterizations' and 'distortion' of some of its business practices and culture that were reported in New York Times; founder and chairman Ray Dalio says article, which detailed firm's policy of recording meetings and surveillance, was 'sensationalistic'. Read more..

By ALEXANDRA STEVENSON and MATTHEW GOLDSTEIN - The New York Times

New York Times Co. Reports a Loss, and a Fall in Digital Ad Revenue

New York Times reports second-quarter loss of about $500,000, compared with profit of $16 million in year-ago quarter; revenue was $373 million, down 3 percent from $383 million; says digital subscriptions rose 25 percent to 1.4 million, but digital advertising fell. Read more..

By SYDNEY EMBER - The New York Times

Parents Deserve a College Graduation Present, Too

In Korean-American families, children give their parents gifts when they start their first job or graduate from college. This is why you might also want to be buying gifts for your parents. Read more..

By RON LIEBER - The New York Times

Peek, a Tourism Start-Up, Raises $10 Million From Investors

Online tourism start-up Peek says it has raised $10 million in new financing round. Read more..

By MICHAEL J. de la MERCED - The New York Times

Reporting an ‘I.R.S.’ Telephone Scam

Crooks will try to contact you in many ways to steal your money or identity, so be on guard for impersonators on the phone. Read more..

By J. D. BIERSDORFER - The New York Times

Sitting on a Celestial Throne

Lily Silverstein makes her New York Times Crossword debut. Read more..

By DEB AMLEN - The New York Times

Sumner Redstone’s Busy October: 3 Cases in 3 Courts in 3 States

Delaware judge sets Oct 17 as tentative trial date for lawsuit over move to replace five Viacom directors; Massachusetts judge also schedules October trial for battle over media mogul Sumner Redstone's mental competence; third trial in Los Angeles is also set for October in fight over his $40 billion business empire. Read more..

By EMILY STEEL - The New York Times

Trial on Sumner Redstone’s Mental Competence Set for October

Judge George F Phelan of Massachusetts probate court rejects motion to dismiss lawsuit over mental competency of media mogul Sumner M Redstone; trial will start in October; Philippe P Dauman and George S Abrams are challenging Redstone's competency. Read more..

By EMILY STEEL - The New York Times

Stock Markets

Values are reported in US Dollars

Stock Ticker symbol Open High Low Close Volume
General Electric GE 31.28 31.43 31.11 31.14 50.1M
Facebook FB 124.65 125.84 123.71 123.94 35.1M
Microsoft MSFT 56.26 56.76 56.05 56.68 30.6M
Apple AAPL 104.19 104.55 103.68 104.21 27.7M
AT&T Inc. T 42.62 43.39 42.46 43.29 25.2M
ExxonMobil XOM 87.61 89.01 86.12 88.95 23.9M
Cisco Systems CSCO 30.60 30.69 30.47 30.53 23.8M
Pfizer PFE 36.68 36.95 36.65 36.89 21.5M
Gilead Sciences GILD 80.60 80.84 79.37 79.47 19.5M
Intel INTC 34.77 34.92 34.61 34.86 18.2M
Coca-Cola KO 43.72 43.75 43.48 43.63 16.5M
General Motors GM 30.79 31.55 30.78 31.54 16.2M
HP Inc. HPQ 13.91 14.13 13.79 14.01 15.8M
Verizon Communications VZ 54.99 55.72 54.97 55.41 15.5M
Abbott Laboratories ABT 44.38 45.12 44.26 44.75 13.4M
Oracle Corp. ORCL 41.32 41.38 40.92 41.04 13.2M
JPMorgan Chase JPM 63.80 64.29 63.75 63.97 13.2M
Wells Fargo & Co. WFC 47.95 48.17 47.95 47.97 13.1M
Chevron CVX 100.53 102.66 99.85 102.48 10.2M
Comcast CMCSA 67.87 67.94 67.07 67.25 9.93M
Merck MRK 59.01 59.20 58.27 58.66 8.49M
Walt Disney & Co. DIS 95.85 96.38 95.85 95.95 8.26M
ConocoPhillips COP 39.77 40.91 39.67 40.82 8.14M
Visa V 79.24 79.35 78.00 78.05 7.78M
Procter & Gamble PG 84.89 85.79 84.80 85.59 7.52M
McDonald's MCD 119.14 119.66 117.43 117.65 7.46M
Johnson & Johnson JNJ 124.34 125.32 124.34 125.23 7.02M
Amazon AMZN 765.00 766.00 755.00 758.81 6.78M
Wal-Mart Stores WMT 73.17 73.25 72.76 72.97 6.3M
Schlumberger SLB 78.23 80.62 78.11 80.52 6.2M
Altria MO 67.20 68.05 66.81 67.70 6.15M
Alphabet GOOGL 797.71 803.94 790.00 791.34 5.09M
Bristol-Myers Squibb BMY 74.57 75.16 74.22 74.81 4.86M
Pepsico PEP 108.26 109.11 108.12 108.92 4M
Home Depot HD 137.46 138.72 137.44 138.24 3.66M
Boeing BA 133.05 133.80 132.30 133.66 3.56M
International Business Machines IBM 161.36 161.67 160.03 160.62 3.55M
UnitedHealth Group UNH 141.85 143.90 141.60 143.20 3.27M
United Technologies UTX 107.50 108.08 107.19 107.65 3.23M
Amgen AMGN 171.57 172.26 170.53 172.03 3.12M
Union Pacific UNP 92.55 93.31 92.26 93.05 2.8M
Berkshire Hathaway BRK.B 144.09 144.60 143.78 144.27 2.59M
3M MMM 178.11 178.82 177.62 178.36 1.62M
Exchange Rates of July 29, 2016
CurrenciesExchange Rates
US Dollar Euro 1 USD = 0.895 EUR 1 EUR = 1.118 USD
US Dollar Japanese Yen 1 USD = 102.047 JPY 1 JPY = 0.010 USD
US Dollar Pound Sterling 1 USD = 0.756 GBP 1 GBP = 1.323 USD
US Dollar Australian Dollar 1 USD = 1.314 AUD 1 AUD = 0.761 USD
US Dollar Canadian Dollar 1 USD = 1.303 CAD 1 CAD = 0.768 USD
US Dollar Swiss Franc 1 USD = 0.969 CHF 1 CHF = 1.032 USD
US Dollar Chinese Yuan 1 USD = 6.637 CNY 1 CNY = 0.151 USD
US Dollar Mexican Peso 1 USD = 18.758 MXN 1 MXN = 0.053 USD
US Dollar Swidish Krona 1 USD = 8.546 SEK 1 SEK = 0.117 USD
Euro Japanese Yen 1 EUR = 114.050 JPY 1 JPY = 0.009 EUR
Euro Pound Sterling 1 EUR = 0.845 GBP 1 GBP = 1.184 EUR
Euro Australian Dollar 1 EUR = 1.465 AUD 1 AUD = 0.683 EUR
Euro Canadian Dollar 1 EUR = 1.455 CAD 1 CAD = 0.687 EUR
Euro Swiss Franc 1 EUR = 1.083 CHF 1 CHF = 0.923 EUR
Euro Chinese Yuan 1 EUR = 7.416 CNY 1 CNY = 0.135 EUR
Euro Mexican Peso 1 EUR = 20.973 MXN 1 MXN = 0.048 EUR
Euro Swidish Krona 1 EUR = 9.547 SEK 1 SEK = 0.105 EUR
Japanese Yen Pound Sterling 1 JPY = 0.007 GBP 1 GBP = 135.135 JPY
Japanese Yen Australian Dollar 1 JPY = 0.013 AUD 1 AUD = 77.519 JPY
Japanese Yen Canadian Dollar 1 JPY = 0.013 CAD 1 CAD = 78.740 JPY
Japanese Yen Swiss Franc 1 JPY = 0.010 CHF 1 CHF = 105.263 JPY
Japanese Yen Chinese Yuan 1 JPY = 0.065 CNY 1 CNY = 15.385 JPY
Japanese Yen Mexican Peso 1 JPY = 0.184 MXN 1 MXN = 5.438 JPY
Japanese Yen Swidish Krona 1 JPY = 0.083 SEK 1 SEK = 12.019 JPY
Pound Sterling Australian Dollar 1 GBP = 1.739 AUD 1 AUD = 0.575 GBP
Pound Sterling Canadian Dollar 1 GBP = 1.722 CAD 1 CAD = 0.581 GBP
Pound Sterling Swiss Franc 1 GBP = 1.282 CHF 1 CHF = 0.780 GBP
Pound Sterling Chinese Yuan 1 GBP = 8.781 CNY 1 CNY = 0.114 GBP
Pound Sterling Mexican Peso 1 GBP = 24.834 MXN 1 MXN = 0.040 GBP
Pound Sterling Swidish Krona 1 GBP = 11.309 SEK 1 SEK = 0.088 GBP
Australian Dollar Canadian Dollar 1 AUD = 0.990 CAD 1 CAD = 1.010 AUD
Australian Dollar Swiss Franc 1 AUD = 0.737 CHF 1 CHF = 1.357 AUD
Australian Dollar Chinese Yuan 1 AUD = 5.047 CNY 1 CNY = 0.198 AUD
Australian Dollar Mexican Peso 1 AUD = 14.270 MXN 1 MXN = 0.070 AUD
Australian Dollar Swidish Krona 1 AUD = 6.498 SEK 1 SEK = 0.154 AUD
Canadian Dollar Swiss Franc 1 CAD = 0.744 CHF 1 CHF = 1.344 CAD
Canadian Dollar Chinese Yuan 1 CAD = 5.097 CNY 1 CNY = 0.196 CAD
Canadian Dollar Mexican Peso 1 CAD = 14.409 MXN 1 MXN = 0.069 CAD
Canadian Dollar Swidish Krona 1 CAD = 6.557 SEK 1 SEK = 0.153 CAD
Swiss Franc Chinese Yuan 1 CHF = 6.845 CNY 1 CNY = 0.146 CHF
Swiss Franc Mexican Peso 1 CHF = 19.358 MXN 1 MXN = 0.052 CHF
Swiss Franc Swidish Krona 1 CHF = 8.814 SEK 1 SEK = 0.113 CHF

See what else happened on July 29, 2016