Financial news on March 21st, 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..


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 21st, 2008
CurrenciesExchange Rates
US DollarJapanese Yen1 USD = 99.570 JPY1 JPY = 0.010 USD
US DollarCanadian Dollar1 USD = 1.023 CAD1 CAD = 0.977 USD
US DollarSwiss Franc1 USD = 1.009 CHF1 CHF = 0.991 USD
US DollarChinese Yuan1 USD = 7.053 CNY1 CNY = 0.142 USD
EuroJapanese Yen1 EUR = 153.680 JPY1 JPY = 0.007 EUR
EuroPound Sterling1 EUR = 0.779 GBP1 GBP = 1.284 EUR
EuroAustralian Dollar1 EUR = 1.710 AUD1 AUD = 0.585 EUR
EuroCanadian Dollar1 EUR = 1.579 CAD1 CAD = 0.633 EUR
EuroSwiss Franc1 EUR = 1.557 CHF1 CHF = 0.642 EUR
Japanese YenPound Sterling1 JPY = 0.506 GBP1 GBP = 1.975 JPY
Japanese YenAustralian Dollar1 JPY = 1.112 AUD1 AUD = 0.899 JPY
Japanese YenCanadian Dollar1 JPY = 1.027 CAD1 CAD = 0.974 JPY
Japanese YenSwiss Franc1 JPY = 1.013 CHF1 CHF = 0.987 JPY
Pound SterlingAustralian Dollar1 GBP = 2.197 AUD1 AUD = 0.455 GBP
Pound SterlingCanadian Dollar1 GBP = 2.028 CAD1 CAD = 0.493 GBP
Pound SterlingSwiss Franc1 GBP = 2.000 CHF1 CHF = 0.500 GBP
Australian DollarCanadian Dollar1 AUD = 0.923 CAD1 CAD = 1.084 AUD
Australian DollarSwiss Franc1 AUD = 0.910 CHF1 CHF = 1.099 AUD
Canadian DollarSwiss Franc1 CAD = 0.986 CHF1 CHF = 1.014 CAD

See what else happened on March 21st, 2008