Financial news on February 27, 2016

Business and Financial news
Apple Shareholders Show Their Support for Tim Cook

Apple chief executive Timothy D Cook receives standing ovation before speech at firm's annual shareholder meeting for opposing federal court order demanding company help law enforcement officials break into iPhone used by San Bernardino gunman; scene illustrates shareholders' high level of support for Cook. Read more..

By KATIE BENNER - The New York Times

Canadian-Led Consortium to Buy London City Airport

The group was said to have agreed to pay $2.8 billion for the company that operates the airport, which is close to the center of London. Read more..

By CHAD BRAY - The New York Times

Court Jesters

Timothy Polin drags us onto the court. Read more..

By DEB AMLEN - The New York Times

Cut Compensation at Investment Banks, Then Take Cover

What Wall Street leaders need to do to get their stocks moving is to cut compensation. They should reverse-engineer their income statements to increase their profits. Read more..

By WILLIAM D. COHAN - The New York Times

Eni, Hit by Falling Oil Prices, Reports $9.4 Billion Loss

The Italian oil giant is the latest energy company to be hit by sharply lower crude prices, which have slashed revenue and led to asset write-downs. Read more..

By STANLEY REED - The New York Times

In Rare Appearance, China’s Central Bank Chief Says All Is Well

People's Bank of China governor Zhou Xiaochuan, in attempt to soothe worry over country's economic health, holds rare news conference to announce China plans no further devaluation of its renminbi currency; Chinese stocks rise following his remarks. Read more..

By KEITH BRADSHER - The New York Times

Justice Scalia’s Death Prompts Dow Chemical to Settle Lawsuit

Dow to pay $835 million after deciding that the absence of the conservative judge changed the balance of a suit that was heading to the Supreme Court. Read more..

By ROBERT CYRAN - The New York Times

The Everything-in-One Promise of a Continuing Care Community

Retiring column; so-called continuing care retirement communities offer independent living apartments, along with assisted-living support, home care, nursing home and often specialized memory care, all in one complex. Read more..

By JOHN F. WASIK - The New York Times

The New Republic Is Sold

New Republic owner Chris Hughes, who helmed magazine for four troubled years, says he has sold publication to publisher and editor Win McCormack. Read more..

By RAVI SOMAIYA - The New York Times

TV Networks Recast the Role of Commercials

Television networks, long reliant on conventional commercials, are implementing ad-reduction strategy as worries over cord-cutting and big ratings drops increase; shift in number of TV ads televised will probably occur gradually. Read more..

By SYDNEY EMBER - The New York Times

Exchange Rates of February 27, 2016
CurrenciesExchange Rates
US DollarAustralian Dollar1 USD = 1,401 AUD1 AUD = 0,714 USD
US DollarSwiss Franc1 USD = 0,996 CHF1 CHF = 1,004 USD
US DollarMexican Peso1 USD = 18,247 MXN1 MXN = 0,055 USD
EuroAustralian Dollar1 EUR = 1,527 AUD1 AUD = 0,655 EUR
EuroCanadian Dollar1 EUR = 1,473 CAD1 CAD = 0,679 EUR
Australian DollarCanadian Dollar1 AUD = 0,962 CAD1 CAD = 1,039 AUD

See what else happened on February 27, 2016