Business and Finance
The dollar surged, driven by near panic buying as surprised traders rushed to cover big bets that the currency would decline. The dollar was buoyed by optimism about the U.S.'s budget deficit and trade gap.</br></br>---</br></br>Rupert Murdoch, with the prospect of a $2 billion cash infusion from News Corp.'s partnership with MCI, is on the lookout for acquisitions, and may be studying big rivals such as Time Warner, TCI and Turner Broadcasting.</br></br>---</br></br>Hilton Hotels will spin off its casino holdings. Investors, who had hoped the company would find a buyer for both its hotel and gambling operations, drove its stock sharply lower.