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..


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..


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

StockTicker symbolOpenHighLowCloseVolume
General ElectricGE31.2831.4331.1131.1450.1M
AT&T Inc.T42.6243.3942.4643.2925.2M
Cisco SystemsCSCO30.6030.6930.4730.5323.8M
Gilead SciencesGILD80.6080.8479.3779.4719.5M
General MotorsGM30.7931.5530.7831.5416.2M
HP Inc.HPQ13.9114.1313.7914.0115.8M
Verizon CommunicationsVZ54.9955.7254.9755.4115.5M
Abbott LaboratoriesABT44.3845.1244.2644.7513.4M
Oracle Corp.ORCL41.3241.3840.9241.0413.2M
JPMorgan ChaseJPM63.8064.2963.7563.9713.2M
Wells Fargo & Co.WFC47.9548.1747.9547.9713.1M
Walt Disney & Co.DIS95.8596.3895.8595.958.26M
Procter & GamblePG84.8985.7984.8085.597.52M
Johnson & JohnsonJNJ124.34125.32124.34125.237.02M
Wal-Mart StoresWMT73.1773.2572.7672.976.3M
Bristol-Myers SquibbBMY74.5775.1674.2274.814.86M
Home DepotHD137.46138.72137.44138.243.66M
International Business MachinesIBM161.36161.67160.03160.623.55M
UnitedHealth GroupUNH141.85143.90141.60143.203.27M
United TechnologiesUTX107.50108.08107.19107.653.23M
Union PacificUNP92.5593.3192.2693.052.8M
Berkshire HathawayBRK.B144.09144.60143.78144.272.59M
Exchange Rates of July 29, 2016
CurrenciesExchange Rates
US DollarEuro1 USD = 0.895 EUR1 EUR = 1.118 USD
US DollarJapanese Yen1 USD = 102.047 JPY1 JPY = 0.010 USD
US DollarPound Sterling1 USD = 0.756 GBP1 GBP = 1.323 USD
US DollarAustralian Dollar1 USD = 1.314 AUD1 AUD = 0.761 USD
US DollarCanadian Dollar1 USD = 1.303 CAD1 CAD = 0.768 USD
US DollarSwiss Franc1 USD = 0.969 CHF1 CHF = 1.032 USD
US DollarChinese Yuan1 USD = 6.637 CNY1 CNY = 0.151 USD
US DollarMexican Peso1 USD = 18.758 MXN1 MXN = 0.053 USD
US DollarSwidish Krona1 USD = 8.546 SEK1 SEK = 0.117 USD
EuroJapanese Yen1 EUR = 114.050 JPY1 JPY = 0.009 EUR
EuroPound Sterling1 EUR = 0.845 GBP1 GBP = 1.184 EUR
EuroAustralian Dollar1 EUR = 1.465 AUD1 AUD = 0.683 EUR
EuroCanadian Dollar1 EUR = 1.455 CAD1 CAD = 0.687 EUR
EuroSwiss Franc1 EUR = 1.083 CHF1 CHF = 0.923 EUR
EuroChinese Yuan1 EUR = 7.416 CNY1 CNY = 0.135 EUR
EuroMexican Peso1 EUR = 20.973 MXN1 MXN = 0.048 EUR
EuroSwidish Krona1 EUR = 9.547 SEK1 SEK = 0.105 EUR
Japanese YenPound Sterling1 JPY = 0.007 GBP1 GBP = 135.135 JPY
Japanese YenAustralian Dollar1 JPY = 0.013 AUD1 AUD = 77.519 JPY
Japanese YenCanadian Dollar1 JPY = 0.013 CAD1 CAD = 78.740 JPY
Japanese YenSwiss Franc1 JPY = 0.010 CHF1 CHF = 105.263 JPY
Japanese YenChinese Yuan1 JPY = 0.065 CNY1 CNY = 15.385 JPY
Japanese YenMexican Peso1 JPY = 0.184 MXN1 MXN = 5.438 JPY
Japanese YenSwidish Krona1 JPY = 0.083 SEK1 SEK = 12.019 JPY
Pound SterlingAustralian Dollar1 GBP = 1.739 AUD1 AUD = 0.575 GBP
Pound SterlingCanadian Dollar1 GBP = 1.722 CAD1 CAD = 0.581 GBP
Pound SterlingSwiss Franc1 GBP = 1.282 CHF1 CHF = 0.780 GBP
Pound SterlingChinese Yuan1 GBP = 8.781 CNY1 CNY = 0.114 GBP
Pound SterlingMexican Peso1 GBP = 24.834 MXN1 MXN = 0.040 GBP
Pound SterlingSwidish Krona1 GBP = 11.309 SEK1 SEK = 0.088 GBP
Australian DollarCanadian Dollar1 AUD = 0.990 CAD1 CAD = 1.010 AUD
Australian DollarSwiss Franc1 AUD = 0.737 CHF1 CHF = 1.357 AUD
Australian DollarChinese Yuan1 AUD = 5.047 CNY1 CNY = 0.198 AUD
Australian DollarMexican Peso1 AUD = 14.270 MXN1 MXN = 0.070 AUD
Australian DollarSwidish Krona1 AUD = 6.498 SEK1 SEK = 0.154 AUD
Canadian DollarSwiss Franc1 CAD = 0.744 CHF1 CHF = 1.344 CAD
Canadian DollarChinese Yuan1 CAD = 5.097 CNY1 CNY = 0.196 CAD
Canadian DollarMexican Peso1 CAD = 14.409 MXN1 MXN = 0.069 CAD
Canadian DollarSwidish Krona1 CAD = 6.557 SEK1 SEK = 0.153 CAD
Swiss FrancChinese Yuan1 CHF = 6.845 CNY1 CNY = 0.146 CHF
Swiss FrancMexican Peso1 CHF = 19.358 MXN1 MXN = 0.052 CHF
Swiss FrancSwidish Krona1 CHF = 8.814 SEK1 SEK = 0.113 CHF

See what else happened on July 29, 2016