Financial news on February 20th, 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..


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 20th, 2012
CurrenciesExchange Rates
US DollarJapanese Yen1 USD = 79.620 JPY1 JPY = 0.013 USD
US DollarCanadian Dollar1 USD = 0.993 CAD1 CAD = 1.007 USD
US DollarSwiss Franc1 USD = 0.911 CHF1 CHF = 1.097 USD
US DollarChinese Yuan1 USD = 6.302 CNY1 CNY = 0.159 USD
EuroJapanese Yen1 EUR = 105.410 JPY1 JPY = 0.009 EUR
EuroPound Sterling1 EUR = 0.835 GBP1 GBP = 1.197 EUR
EuroAustralian Dollar1 EUR = 1.231 AUD1 AUD = 0.812 EUR
EuroCanadian Dollar1 EUR = 1.315 CAD1 CAD = 0.760 EUR
EuroSwiss Franc1 EUR = 1.207 CHF1 CHF = 0.829 EUR
EuroChinese Yuan1 EUR = 8.344 CNY1 CNY = 0.120 EUR
Japanese YenPound Sterling1 JPY = 0.792 GBP1 GBP = 1.263 JPY
Japanese YenAustralian Dollar1 JPY = 1.167 AUD1 AUD = 0.857 JPY
Japanese YenCanadian Dollar1 JPY = 1.247 CAD1 CAD = 0.802 JPY
Japanese YenSwiss Franc1 JPY = 1.144 CHF1 CHF = 0.874 JPY
Pound SterlingAustralian Dollar1 GBP = 1.473 AUD1 AUD = 0.679 GBP
Pound SterlingCanadian Dollar1 GBP = 1.574 CAD1 CAD = 0.635 GBP
Pound SterlingSwiss Franc1 GBP = 1.444 CHF1 CHF = 0.692 GBP
Pound SterlingChinese Yuan1 GBP = 9.987 CNY1 CNY = 0.100 GBP
Australian DollarCanadian Dollar1 AUD = 1.068 CAD1 CAD = 0.936 AUD
Australian DollarSwiss Franc1 AUD = 0.980 CHF1 CHF = 1.020 AUD
Australian DollarChinese Yuan1 AUD = 6.779 CNY1 CNY = 0.148 AUD
Canadian DollarSwiss Franc1 CAD = 0.917 CHF1 CHF = 1.090 CAD
Canadian DollarChinese Yuan1 CAD = 6.343 CNY1 CNY = 0.158 CAD
Swiss FrancChinese Yuan1 CHF = 6.910 CNY1 CNY = 0.145 CHF

See what else happened on February 20th, 2012