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 Dollar Japanese Yen 1 USD = 114.150 JPY 1 JPY = 0.009 USD
US Dollar Canadian Dollar 1 USD = 0.985 CAD 1 CAD = 1.015 USD
US Dollar Swiss Franc 1 USD = 1.157 CHF 1 CHF = 0.864 USD
US Dollar Chinese Yuan 1 USD = 7.330 CNY 1 CNY = 0.136 USD
Euro Japanese Yen 1 EUR = 164.390 JPY 1 JPY = 0.006 EUR
Euro Pound Sterling 1 EUR = 0.727 GBP 1 GBP = 1.376 EUR
Euro Australian Dollar 1 EUR = 1.653 AUD 1 AUD = 0.605 EUR
Euro Canadian Dollar 1 EUR = 1.418 CAD 1 CAD = 0.705 EUR
Euro Swiss Franc 1 EUR = 1.619 CHF 1 CHF = 0.618 EUR
Japanese Yen Pound Sterling 1 JPY = 0.442 GBP 1 GBP = 2.262 JPY
Japanese Yen Australian Dollar 1 JPY = 1.005 AUD 1 AUD = 0.995 JPY
Japanese Yen Canadian Dollar 1 JPY = 0.862 CAD 1 CAD = 1.160 JPY
Japanese Yen Swiss Franc 1 JPY = 0.985 CHF 1 CHF = 1.015 JPY
Pound Sterling Australian Dollar 1 GBP = 2.273 AUD 1 AUD = 0.440 GBP
Pound Sterling Canadian Dollar 1 GBP = 1.951 CAD 1 CAD = 0.513 GBP
Pound Sterling Swiss Franc 1 GBP = 2.224 CHF 1 CHF = 0.450 GBP
Australian Dollar Canadian Dollar 1 AUD = 0.858 CAD 1 CAD = 1.166 AUD
Australian Dollar Swiss Franc 1 AUD = 0.979 CHF 1 CHF = 1.022 AUD
Canadian Dollar Swiss Franc 1 CAD = 1.142 CHF 1 CHF = 0.876 CAD

See what else happened on December 25, 2007