Financial news on March 21, 2008

Business and Financial news
3 Moguls in Talks to Buy Newsday

The three bidders are Rupert Murdoch, chairman of the News Corporation; Mortimer B. Zuckerman, who owns The Daily News; and James L. Dolan, whose family controls Cablevision. Read more..

By TIM ARANGO and RICHARD PÉREZ-PEÑA - The New York Times

California Court Awards Starbucks Baristas $105 Million in Tip Dispute

The court ruled that the company had wrongly allowed supervisors to share in tips. Read more..

By VIKAS BAJAJ - The New York Times

CIT Taps Credit Lines and Talks of Asset Sales

The century-old company that lends money to small businesses and midsize corporations on Thursday was forced to draw on $7.3 billion of emergency bank credit lines. Read more..

By ERIC DASH - The New York Times

European Banks Try to Inject a Bit of Calm

The European Central Bank and the Bank of England surprised markets with new loans that banks can use to firm up balance sheets over the holiday weekend. Read more..

By CARTER DOUGHERTY - The New York Times

High-Profile Trial Lawyer Agrees to Guilty Plea

Melvyn I. Weiss’s plea is an acknowledgment of his role in a scheme to make hidden side payments to plaintiffs in class-action lawsuits. Read more..

By JONATHAN D. GLATER - The New York Times

Paramount’s Grey Denies Knowing of Any Wiretapping

Brad Grey testified on Thursday that he knew nothing of any illicit activity by the Hollywood private eye Anthony Pellicano. Read more..

By DAVID M. HALBFINGER - The New York Times

Russia Arrests 2 Tied to BP Joint Venture

The arrest of the brothers bodes ill for BP’s work here and is likely to send chills through the ranks of Russian employees at Western companies. Read more..

By ANDREW E. KRAMER - The New York Times

Slump Moves From Wall St. to Main St.

The economic downturn is seeping into new parts of the country, to communities that seemed insulated only months ago. Read more..

By PETER S. GOODMAN - The New York Times

Sovereign Funds Agree to Shun ‘Geopolitical’ Investing

The commitment came from the so-called sovereign wealth funds controlled by the governments of Singapore and Abu Dhabi. Read more..

By STEVEN R. WEISMAN - The New York Times

United Airlines Grounds 7 Planes

It grounded the planes when it was told by the F.A.A. that a maintenance contractor had checked the planes’ altimeters using an instrument that was not properly calibrated. Read more..

By MATTHEW L. WALD - The New York Times

Exchange Rates of March 21, 2008
CurrenciesExchange Rates
US Dollar Japanese Yen 1 USD = 99.570 JPY 1 JPY = 0.010 USD
US Dollar Canadian Dollar 1 USD = 1.023 CAD 1 CAD = 0.977 USD
US Dollar Swiss Franc 1 USD = 1.009 CHF 1 CHF = 0.991 USD
US Dollar Chinese Yuan 1 USD = 7.053 CNY 1 CNY = 0.142 USD
Euro Japanese Yen 1 EUR = 153.680 JPY 1 JPY = 0.007 EUR
Euro Pound Sterling 1 EUR = 0.779 GBP 1 GBP = 1.284 EUR
Euro Australian Dollar 1 EUR = 1.710 AUD 1 AUD = 0.585 EUR
Euro Canadian Dollar 1 EUR = 1.579 CAD 1 CAD = 0.633 EUR
Euro Swiss Franc 1 EUR = 1.557 CHF 1 CHF = 0.642 EUR
Japanese Yen Pound Sterling 1 JPY = 0.506 GBP 1 GBP = 1.975 JPY
Japanese Yen Australian Dollar 1 JPY = 1.112 AUD 1 AUD = 0.899 JPY
Japanese Yen Canadian Dollar 1 JPY = 1.027 CAD 1 CAD = 0.974 JPY
Japanese Yen Swiss Franc 1 JPY = 1.013 CHF 1 CHF = 0.987 JPY
Pound Sterling Australian Dollar 1 GBP = 2.197 AUD 1 AUD = 0.455 GBP
Pound Sterling Canadian Dollar 1 GBP = 2.028 CAD 1 CAD = 0.493 GBP
Pound Sterling Swiss Franc 1 GBP = 2.000 CHF 1 CHF = 0.500 GBP
Australian Dollar Canadian Dollar 1 AUD = 0.923 CAD 1 CAD = 1.084 AUD
Australian Dollar Swiss Franc 1 AUD = 0.910 CHF 1 CHF = 1.099 AUD
Canadian Dollar Swiss Franc 1 CAD = 0.986 CHF 1 CHF = 1.014 CAD

See what else happened on March 21, 2008