Financial news on December 25, 2007

Business and Financial news
A Partridge, a Pear Tree, a Price Tag That Grows

This year, the song’s true love would spend $19,507 to give every whimsy on the 12th day, according to a yearly holiday index tabulated by PNC Wealth Management. Read more..

By ELIZABETH OLSON - The New York Times

Britain: A Drop in Home Prices

Home prices in Britain fell the most in three years in December, and the threat of more declines may cause the property market to seize up in 2008, said Hometrack Ltd., a London-based research group. The average cost of a home in England and Wales... Read more..

By BLOOMBERG NEWS - The New York Times

In San Francisco, It’s Work to Find Toys

San Franciscans searching for the perfect toy this holiday season have had the added hurdle of finding a place to buy it. Read more..

By MATT RICHTEL - The New York Times

It’s Downhill for Sleds, Lamentably

Toy retailers across the country have largely pushed sleds and toboggans off their shelves and out of their catalog pages, victims of warmer weather and the changing taste of children. Read more..

By MARIA ASPAN - The New York Times

Jay-Z to Quit His Day Job as President of Def Jam

The rap superstar said Monday that he would end his unusual three-year turn in the corporate suite. Read more..

By JEFF LEEDS - The New York Times

Markets Up After a Deal by Merrill

Shares rose on Monday after an investment deal raised hopes that wealthy foreign investors would come to the rescue of America’s ailing investment firms. Read more..

By MICHAEL M. GRYNBAUM - The New York Times

Merrill Lynch Sells Stake to Singapore Firm

Merrill Lynch agreed on Monday to sell $5 billion of new stock to an investor from Singapore and a smaller stake to a domestic firm. Read more..

By ERIC DASH - The New York Times

Regional Carrier Sold

Air France-KLM Group, the world’s largest airline, agreed to buy the regional carrier VLM Airlines to expand its business travel to London. Air France is buying the airline from Panta Holdings. Read more..

By BLOOMBERG NEWS - The New York Times

When Faith and Work Are at Odds

Many professionals of the Jewish, Muslim and Hindu faiths regularly have to balance their religion and their jobs. Read more..

By MARTHA C. WHITE - The New York Times

Wyeth Hit by Generic Competition and Regulatory Setback

Shares in Wyeth fell sharply on Monday after its heartburn medicine attracted generic competition and American regulators delayed its experimental drug for preventing bone loss. Read more..

By BLOOMBERG NEWS - The New York Times

Exchange Rates of December 25, 2007
CurrenciesExchange Rates
US DollarJapanese Yen1 USD = 114.150 JPY1 JPY = 0.009 USD
US DollarCanadian Dollar1 USD = 0.985 CAD1 CAD = 1.015 USD
US DollarSwiss Franc1 USD = 1.157 CHF1 CHF = 0.864 USD
US DollarChinese Yuan1 USD = 7.330 CNY1 CNY = 0.136 USD
EuroJapanese Yen1 EUR = 164.390 JPY1 JPY = 0.006 EUR
EuroPound Sterling1 EUR = 0.727 GBP1 GBP = 1.376 EUR
EuroAustralian Dollar1 EUR = 1.653 AUD1 AUD = 0.605 EUR
EuroCanadian Dollar1 EUR = 1.418 CAD1 CAD = 0.705 EUR
EuroSwiss Franc1 EUR = 1.619 CHF1 CHF = 0.618 EUR
Japanese YenPound Sterling1 JPY = 0.442 GBP1 GBP = 2.262 JPY
Japanese YenAustralian Dollar1 JPY = 1.005 AUD1 AUD = 0.995 JPY
Japanese YenCanadian Dollar1 JPY = 0.862 CAD1 CAD = 1.160 JPY
Japanese YenSwiss Franc1 JPY = 0.985 CHF1 CHF = 1.015 JPY
Pound SterlingAustralian Dollar1 GBP = 2.273 AUD1 AUD = 0.440 GBP
Pound SterlingCanadian Dollar1 GBP = 1.951 CAD1 CAD = 0.513 GBP
Pound SterlingSwiss Franc1 GBP = 2.224 CHF1 CHF = 0.450 GBP
Australian DollarCanadian Dollar1 AUD = 0.858 CAD1 CAD = 1.166 AUD
Australian DollarSwiss Franc1 AUD = 0.979 CHF1 CHF = 1.022 AUD
Canadian DollarSwiss Franc1 CAD = 1.142 CHF1 CHF = 0.876 CAD

See what else happened on December 25, 2007