Financial news on October 10, 2015

Business and Financial news
As British Solar Industry Loses Subsidies, Big U.S. Backer Pulls Back

American solar energy company SunEdison says it will end its free rooftop solar panel installations for British homes after country's Conservative government cuts subsidies for electricity bills by up to 87 percent; almost 750,000 British homes are powered by solar panels. Read more..

By STANLEY REED - The New York Times

Beyond VW Scandal: Home Appliance Industry No Stranger to Tricks

Volkswagen's diesel emissions scandal offers reminder of similar tricks in household appliances industry; use of advanced controls and other forms of electronics in many consumer devices and appliances increases possibility of cheating and mischief by manufacturers. Read more..

By JAD MOUAWAD - The New York Times

Defamation Suit Against Bill Cosby Will Go Forward in Massachusetts

United States District Court Judge for the District of Massachusetts Mark G Mastroianni declines to dismiss lawsuit by three women who say Bill Cosby sexually assaulted them in 1970s and then later defamed them; Cosby also faces questions in separate civil case in California. Read more..


Export-Import Bank Will Come to New House Vote

Bipartisan group of House members enacts petition forcing vote on renewing charter of Export-Import Bank, which had expired in June. Read more..

By CARL HULSE - The New York Times

Fiat Chrysler to Move Forward With Ferrari I.P.O.

Fiat Chrysler plans to spin off Ferrari at initial public offering valuation of about $9.4 billion, with shares between $48 to $52 each. Read more..

By LESLIE PICKER - The New York Times

For Variety’s Sake

David J. Kahn returns with a tribute to an icon. Read more..

By DEB AMLEN - The New York Times

Reopening the Bank of Mom and Dad, to Help Adult Children

Retiring column; many older parents are helping their adult children by giving them loans, cash gifts or paying bills; this sometimes hurts their finances, even jeopardizing their retirement; data indicates problem is increasing, as many baby boomers and millennials have little savings for old age. Read more..

By CONSTANCE GUSTKE - The New York Times

Twitter Expected to Begin Layoffs and Stop Headquarters Expansion

Twitter's newly returned chief executive Jack Dorsey plans cost-cutting moves, including layoffs and ending plan to expand company's San Francisco headquarters. Read more..

By MIKE ISAAC - The New York Times

U.A.W. Chief Expects Deal on Contract at Chrysler

United Automobile Workers president Dennis Williams says he thinks workers at Fiat Chrysler will accept more generous contract proposal after rejecting previous version. Read more..

By BILL VLASIC - The New York Times

Variety: Split Decisions

Fred Piscop returns with Split Decisions. What, you’ve never tried one? You need to get right on that. Read more..

By DEB AMLEN - The New York Times

Exchange Rates of October 10, 2015
CurrenciesExchange Rates
US Dollar Australian Dollar 1 USD = 1.363 AUD 1 AUD = 0.734 USD
US Dollar Canadian Dollar 1 USD = 1.294 CAD 1 CAD = 0.773 USD
US Dollar Mexican Peso 1 USD = 16.400 MXN 1 MXN = 0.061 USD
Euro Mexican Peso 1 EUR = 18.649 MXN 1 MXN = 0.054 EUR
Pound Sterling Swiss Franc 1 GBP = 1.473 CHF 1 CHF = 0.679 GBP
Australian Dollar Canadian Dollar 1 AUD = 0.948 CAD 1 CAD = 1.054 AUD
Swiss Franc Swidish Krona 1 CHF = 8.519 SEK 1 SEK = 0.117 CHF

See what else happened on October 10, 2015