Financial news on February 20, 2012

Business and Financial news
Copyright Cheats Face the Music in France

Appeal of piracy in France has waned since tough crackdown on copyright cheats went into effect in 2010; digital sales, which were slow to get started in country, are growing, and music industry revenues are starting to stabilize; opposition to the law, however, is heating up. Read more..

By ERIC PFANNER - The New York Times

Deals to Split EMI Spur Scrutiny and Criticism

Pair of pending deals to split EMI between Sony and Universal will give those music companies substantial advantages over Warner, the only other major player still in the market; deals are subject to approval by regulatory agencies in the United States, in Europe and elsewhere, and are spurring scrutiny and criticism. Read more..

By BEN SISARIO - The New York Times

Greek Prime Minister Travels to Brussels for Crucial Meeting

Euro zone finance ministers were set to pass the second rescue package for Greece at a meeting Monday. Read more..

By REUTERS - International Herald Tribune

In China Movie Pact, More 3-D, Less Reality

Trade agreement between the United States and China expands the number of movie exports, focusing on 3-D or large-screen Imax format extravaganzas; rapid growth in the number of screens has been accompanied by a major expansion in both formats with an audience response to match. Read more..

By MICHAEL CIEPLY - The New York Times

Pressure, Chinese and Foreign, Drives Changes at Foxconn

Foxconn Technology’s decision to raise pay at its Chinese factories reflects shifts in China’s economic system. Read more..

By DAVID BARBOZA and CHARLES DUHIGG - The New York Times

Trade Deficit in Japan Hits Record

Japan posts a record trade deficit in January as the yen’s strength and weaker global demand erodes profits at manufacturers and slows nation’s recovery from the 2011 earthquake and tsunami; gap widens to 1.48 trillion yen, or $19 billion, and shipments fall 9.3 percent compared with year-ago January. Read more..

By BLOOMBERG NEWS - The New York Times

Using Rap to Teach Pithy Lessons in Business

Ben Horowitz, co-founder of venture capital firm Andreessen Horowitz, says rap music holds lessons for tech entrepreneurs, including how to fire an executive or stand up to difficult board members; he applies his theories on his blog, which has attracted a following of tech readers and other executives by offering business lessons. Read more..

By CLAIRE CAIN MILLER - The New York Times

Vying to Capture Oprah’s Mantle

Along with current syndicated TV favorites, a multitude of new daytime talk shows will arrive this fall in the first real test for the genre since Oprah Winfrey left the scene in May. Read more..

By BRIAN STELTER - The New York Times

Exchange Rates of February 20, 2012
CurrenciesExchange Rates
US Dollar Japanese Yen 1 USD = 79.620 JPY 1 JPY = 0.013 USD
US Dollar Canadian Dollar 1 USD = 0.993 CAD 1 CAD = 1.007 USD
US Dollar Swiss Franc 1 USD = 0.911 CHF 1 CHF = 1.097 USD
US Dollar Chinese Yuan 1 USD = 6.302 CNY 1 CNY = 0.159 USD
Euro Japanese Yen 1 EUR = 105.410 JPY 1 JPY = 0.009 EUR
Euro Pound Sterling 1 EUR = 0.835 GBP 1 GBP = 1.197 EUR
Euro Australian Dollar 1 EUR = 1.231 AUD 1 AUD = 0.812 EUR
Euro Canadian Dollar 1 EUR = 1.315 CAD 1 CAD = 0.760 EUR
Euro Swiss Franc 1 EUR = 1.207 CHF 1 CHF = 0.829 EUR
Euro Chinese Yuan 1 EUR = 8.344 CNY 1 CNY = 0.120 EUR
Japanese Yen Pound Sterling 1 JPY = 0.792 GBP 1 GBP = 1.263 JPY
Japanese Yen Australian Dollar 1 JPY = 1.167 AUD 1 AUD = 0.857 JPY
Japanese Yen Canadian Dollar 1 JPY = 1.247 CAD 1 CAD = 0.802 JPY
Japanese Yen Swiss Franc 1 JPY = 1.144 CHF 1 CHF = 0.874 JPY
Pound Sterling Australian Dollar 1 GBP = 1.473 AUD 1 AUD = 0.679 GBP
Pound Sterling Canadian Dollar 1 GBP = 1.574 CAD 1 CAD = 0.635 GBP
Pound Sterling Swiss Franc 1 GBP = 1.444 CHF 1 CHF = 0.692 GBP
Pound Sterling Chinese Yuan 1 GBP = 9.987 CNY 1 CNY = 0.100 GBP
Australian Dollar Canadian Dollar 1 AUD = 1.068 CAD 1 CAD = 0.936 AUD
Australian Dollar Swiss Franc 1 AUD = 0.980 CHF 1 CHF = 1.020 AUD
Australian Dollar Chinese Yuan 1 AUD = 6.779 CNY 1 CNY = 0.148 AUD
Canadian Dollar Swiss Franc 1 CAD = 0.917 CHF 1 CHF = 1.090 CAD
Canadian Dollar Chinese Yuan 1 CAD = 6.343 CNY 1 CNY = 0.158 CAD
Swiss Franc Chinese Yuan 1 CHF = 6.910 CNY 1 CNY = 0.145 CHF

See what else happened on February 20, 2012