Financial news on July 4th, 2008

Business and Financial news
Britain’s Services Sector Contracted in June

Britain’s services sector contracted last month by the most since October 2001 and banks said they would curb lending further in the third quarter. Read more..

By BLOOMBERG NEWS - The New York Times

Couple Settles With S.E.C. in Trading Case

A former Morgan Stanley vice president and her husband, a former hedge fund analyst at ING Investment Management, agreed to settle federal regulatory claims that they illegally traded stocks using inside information. Read more..

By BLOOMBERG NEWS - The New York Times

Criminal Charges Against Continental in Deadly Concorde Crash

Continental Airlines and two of its employees have been ordered to stand trial on involuntary manslaughter charges related to the 2000 crash. Read more..

By ALAN COWELL - The New York Times

Economic Problems in Britain Mimic Those in U.S.

The British economy, like that of the U.S., may be headed for recession, and the reasons are similar: the collapse of a once red-hot housing market and rising inflation. Read more..

By DAVID JOLLY - The New York Times

Ex-Banker Investigated in Transfers of Money

A former private banker at JPMorgan Chase is under investigation, suspected of making illegal money transfers, according to federal authorities and court documents. Read more..

By LYNNLEY BROWNING - The New York Times

Fund Manager Turned Fugitive Is Sent to Prison

Samuel Israel III, the hedge fund manager who fled after faking a suicide, went to prison on Thursday, 25 days late. Read more..

By ABHA BHATTARAI - The New York Times

Lax Real Estate Decisions Hurt Starbucks

Starbucks’s biggest mistakes and greatest challenges boil down to three words: location, location and location. Read more..

By BRAD STONE - The New York Times

Outlook Darker as Jobs Are Lost

The unemployment rate held steady as 62,000 jobs disappeared in June, the Labor Department reported. Read more..

By LOUIS UCHITELLE - The New York Times

Penn National Gaming Cancels Its Sale to Private Equity Firms

Another big corporate buyout fell apart as Penn National Gaming announced that it had terminated its $6.1 billion sale to two private equity firms. Read more..

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

Exchange Rates of July 4th, 2008
CurrenciesExchange Rates
US DollarJapanese Yen1 USD = 106,790 JPY1 JPY = 0,009 USD
US DollarCanadian Dollar1 USD = 1,019 CAD1 CAD = 0,982 USD
US DollarSwiss Franc1 USD = 1,025 CHF1 CHF = 0,975 USD
US DollarChinese Yuan1 USD = 6,859 CNY1 CNY = 0,146 USD
EuroJapanese Yen1 EUR = 167,730 JPY1 JPY = 0,006 EUR
EuroPound Sterling1 EUR = 0,792 GBP1 GBP = 1,262 EUR
EuroAustralian Dollar1 EUR = 1,631 AUD1 AUD = 0,613 EUR
EuroCanadian Dollar1 EUR = 1,600 CAD1 CAD = 0,625 EUR
EuroSwiss Franc1 EUR = 1,610 CHF1 CHF = 0,621 EUR
Japanese YenPound Sterling1 JPY = 0,472 GBP1 GBP = 2,118 JPY
Japanese YenAustralian Dollar1 JPY = 0,972 AUD1 AUD = 1,029 JPY
Japanese YenCanadian Dollar1 JPY = 0,954 CAD1 CAD = 1,048 JPY
Japanese YenSwiss Franc1 JPY = 0,960 CHF1 CHF = 1,042 JPY
Pound SterlingAustralian Dollar1 GBP = 2,059 AUD1 AUD = 0,486 GBP
Pound SterlingCanadian Dollar1 GBP = 2,020 CAD1 CAD = 0,495 GBP
Pound SterlingSwiss Franc1 GBP = 2,032 CHF1 CHF = 0,492 GBP
Australian DollarCanadian Dollar1 AUD = 0,980 CAD1 CAD = 1,020 AUD
Australian DollarSwiss Franc1 AUD = 0,986 CHF1 CHF = 1,014 AUD
Canadian DollarSwiss Franc1 CAD = 1,006 CHF1 CHF = 0,994 CAD

See what else happened on July 4th, 2008