Financial news on January 31st, 2014

Business and Financial news
Diageo Reports Slower Growth

The world’s biggest distiller joined other consumer brands in saying that slower growth in developing economies last year hurt its business. Read more..

By JULIA WERDIGIER - The New York Times

Economy Is Expanding, but Obama’s Legacy May Be Slipping Away

Commerce Department reports that the economy grew by 3.2 percent in the final quarter of 2013, providing White House with further evidence of 'breakout year' Pres Obama cited in State of the Union address; expansion is nonetheless unlikely to match gains under his two predecessors, threatening his legacy. Read more..

By NELSON D. SCHWARTZ - The New York Times

High Stakes for Agencies, and Products, at Super Bowl

Advertising column; stakes are high, along with price tag, for sponsors running ads in the Super Bowl but some are risking more than others; more than 30 marketers are buying commercial time during game, at rates in the neighborhood of $4 million for each 30 seconds of airtime. Read more..

By STUART ELLIOTT - The New York Times

In Motorola Purchase, Lenovo Gains Big Footprint in Smartphones

The Chinese PC giant’s purchase of Motorola Mobility from Google has vaulted it into the field’s top three, though it has a long way to go to catch Apple or Samsung. Read more..

By ERIC PFANNER - The New York Times

Obama and G.O.P. Facing Opposition to Trade Pacts

Pres Obama and allied Republicans have run into staunch opposition from Democrats and labor as they seek fast-track approval of trade deals with Pacific Rim nations and Europe; Obama has argued that deals would be an economic shot in the arm for nation, but his opponents fear further job losses and inadequate environmental protections. Read more..

By ANNIE LOWREY - The New York Times

Some Toyota Model Sales Halted Over Seat Problem

Toyota tells its dealers to stop selling about 36,000 vehicles of its most popular models because a component on the heated seats does not comply with a federal safety standard for flame retardants; asks National Highway Traffic Safety Administration not to require a recall of vehicles already sold. Read more..


Southwest and JetBlue Buy Washington Airport Rights

Southwest Airlines and JetBlue Airways purchase the takeoff and landing rights at Ronald Reagan National Airport in Washington that the Justice Department required American Airlines and US Airways to sell as a condition of their merger. Read more..

By JAD MOUAWAD - The New York Times

Struggling Zynga to Buy Mobile Game Maker

Zynga says it is buying mobile game developer NaturalMotion for $527 million, while also announcing a 15 percent reduction in its work force; company reports quarterly loss of $25.2 million, or 3 cents per share, up from a loss of $48.6 million, or 6 cents per share, in year-earlier period. Read more..


Super Bowl Will Again Be a Showcase for Automakers

Chevrolet, Audi, Kia and Toyota are among repeat Super Bowl advertisers, but Jaguar will be a first timer. Read more..

By BENJAMIN PRESTON - The New York Times

Viacom Quarterly Profit Rises 16%, Lifted by Cable Fees and Lower Costs

Viacom reports fourth-quarter profit of $547 million, or $1.20 per share, up from 4473 million, or 93 cents per share, in year-earlier period; cites lower costs at Paramount Pictures and higher subscriber fees at cable networks. Read more..

By BROOKS BARNES - The New York Times

Stock Markets

Values are reported in US Dollars

StockTicker symbolOpenHighLowCloseVolume
Cisco SystemsCSCO21.6121.9921.6121.9143.3M
General ElectricGE25.2125.3825.0825.1340.3M
AT&T Inc.T32.9733.6932.7733.3234.2M
Wells Fargo & Co.WFC45.4145.7145.2345.3427.3M
General MotorsGM36.2236.8435.8836.0827.2M
Verizon CommunicationsVZ47.1048.5047.0248.0218.5M
JPMorgan ChaseJPM55.5056.1155.1855.3618.2M
Oracle Corp.ORCL37.0337.2036.6836.9017M
Procter & GamblePG76.0377.1975.2676.6213M
HP Inc.HPQ28.9429.1928.7429.0012.9M
Johnson & JohnsonJNJ89.0189.3488.1588.4712.2M
Abbott LaboratoriesABT36.0336.8935.9736.6610.8M
Gilead SciencesGILD79.9781.7579.3580.6510.8M
Home DepotHD76.2077.4775.8576.8510.6M
Wal-Mart StoresWMT73.9275.1973.6474.6810.5M
Walt Disney & Co.DIS72.2073.3271.8072.617.75M
Bristol-Myers SquibbBMY50.0450.4749.7649.977.73M
Berkshire HathawayBRK.B111.81112.37110.85111.605.87M
International Business MachinesIBM176.11177.84175.34176.685.19M
UnitedHealth GroupUNH71.8772.3571.4572.284.29M
United TechnologiesUTX112.98114.93112.37114.023.48M
Union PacificUNP174.68175.82173.18174.242.52M
Exchange Rates of January 31st, 2014
CurrenciesExchange Rates
US DollarJapanese Yen1 USD = 102.050 JPY1 JPY = 0.010 USD
US DollarCanadian Dollar1 USD = 1.113 CAD1 CAD = 0.899 USD
US DollarSwiss Franc1 USD = 0.906 CHF1 CHF = 1.104 USD
EuroJapanese Yen1 EUR = 137.610 JPY1 JPY = 0.007 EUR
EuroPound Sterling1 EUR = 0.820 GBP1 GBP = 1.219 EUR
EuroAustralian Dollar1 EUR = 1.540 AUD1 AUD = 0.649 EUR
EuroCanadian Dollar1 EUR = 1.501 CAD1 CAD = 0.666 EUR
EuroSwiss Franc1 EUR = 1.222 CHF1 CHF = 0.818 EUR
EuroChinese Yuan1 EUR = 8.174 CNY1 CNY = 0.122 EUR
Japanese YenPound Sterling1 JPY = 0.596 GBP1 GBP = 1.679 JPY
Japanese YenAustralian Dollar1 JPY = 1.118 AUD1 AUD = 0.894 JPY
Japanese YenCanadian Dollar1 JPY = 1.090 CAD1 CAD = 0.917 JPY
Japanese YenSwiss Franc1 JPY = 0.888 CHF1 CHF = 1.127 JPY
Pound SterlingAustralian Dollar1 GBP = 1.877 AUD1 AUD = 0.533 GBP
Pound SterlingCanadian Dollar1 GBP = 1.830 CAD1 CAD = 0.547 GBP
Pound SterlingSwiss Franc1 GBP = 1.489 CHF1 CHF = 0.671 GBP
Pound SterlingChinese Yuan1 GBP = 9.960 CNY1 CNY = 0.100 GBP
Australian DollarCanadian Dollar1 AUD = 0.974 CAD1 CAD = 1.026 AUD
Australian DollarSwiss Franc1 AUD = 0.793 CHF1 CHF = 1.261 AUD
Australian DollarChinese Yuan1 AUD = 5.304 CNY1 CNY = 0.189 AUD
Canadian DollarSwiss Franc1 CAD = 0.813 CHF1 CHF = 1.230 CAD
Canadian DollarChinese Yuan1 CAD = 5.443 CNY1 CNY = 0.184 CAD
Swiss FrancChinese Yuan1 CHF = 6.686 CNY1 CNY = 0.150 CHF

See what else happened on January 31st, 2014