Financial news on January 31, 2014
Business and Financial news
The world’s biggest distiller joined other consumer brands in saying that slower growth in developing economies last year hurt its business. Read more..
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..
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..
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..
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..
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 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..
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..
Chevrolet, Audi, Kia and Toyota are among repeat Super Bowl advertisers, but Jaguar will be a first timer. Read more..
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..
Values are reported in US Dollars
|Wells Fargo & Co.||WFC||45.41||45.71||45.23||45.34||27.3M|
|Procter & Gamble||PG||76.03||77.19||75.26||76.62||13M|
|Johnson & Johnson||JNJ||89.01||89.34||88.15||88.47||12.2M|
|Walt Disney & Co.||DIS||72.20||73.32||71.80||72.61||7.75M|
|International Business Machines||IBM||176.11||177.84||175.34||176.68||5.19M|
Exchange Rates of January 31, 2014
|US Dollar||Japanese Yen||1 USD = 102.050 JPY||1 JPY = 0.010 USD|
|US Dollar||Canadian Dollar||1 USD = 1.113 CAD||1 CAD = 0.899 USD|
|US Dollar||Swiss Franc||1 USD = 0.906 CHF||1 CHF = 1.104 USD|
|Euro||Japanese Yen||1 EUR = 137.610 JPY||1 JPY = 0.007 EUR|
|Euro||Pound Sterling||1 EUR = 0.820 GBP||1 GBP = 1.219 EUR|
|Euro||Australian Dollar||1 EUR = 1.540 AUD||1 AUD = 0.649 EUR|
|Euro||Canadian Dollar||1 EUR = 1.501 CAD||1 CAD = 0.666 EUR|
|Euro||Swiss Franc||1 EUR = 1.222 CHF||1 CHF = 0.818 EUR|
|Euro||Chinese Yuan||1 EUR = 8.174 CNY||1 CNY = 0.122 EUR|
|Japanese Yen||Pound Sterling||1 JPY = 0.596 GBP||1 GBP = 1.679 JPY|
|Japanese Yen||Australian Dollar||1 JPY = 1.118 AUD||1 AUD = 0.894 JPY|
|Japanese Yen||Canadian Dollar||1 JPY = 1.090 CAD||1 CAD = 0.917 JPY|
|Japanese Yen||Swiss Franc||1 JPY = 0.888 CHF||1 CHF = 1.127 JPY|
|Pound Sterling||Australian Dollar||1 GBP = 1.877 AUD||1 AUD = 0.533 GBP|
|Pound Sterling||Canadian Dollar||1 GBP = 1.830 CAD||1 CAD = 0.547 GBP|
|Pound Sterling||Swiss Franc||1 GBP = 1.489 CHF||1 CHF = 0.671 GBP|
|Pound Sterling||Chinese Yuan||1 GBP = 9.960 CNY||1 CNY = 0.100 GBP|
|Australian Dollar||Canadian Dollar||1 AUD = 0.974 CAD||1 CAD = 1.026 AUD|
|Australian Dollar||Swiss Franc||1 AUD = 0.793 CHF||1 CHF = 1.261 AUD|
|Australian Dollar||Chinese Yuan||1 AUD = 5.304 CNY||1 CNY = 0.189 AUD|
|Canadian Dollar||Swiss Franc||1 CAD = 0.813 CHF||1 CHF = 1.230 CAD|
|Canadian Dollar||Chinese Yuan||1 CAD = 5.443 CNY||1 CNY = 0.184 CAD|
|Swiss Franc||Chinese Yuan||1 CHF = 6.686 CNY||1 CNY = 0.150 CHF|