Economy

• Wednesday, March 2nd 2011 - 17:24 UTC

  EU competition regulators raid companies selling digital books

  

  European Union's competition regulators carried out unannounced inspections into various companies that sell digital books on Tuesday on suspicion of operating a cartel and engaging in other banned business practices.

• Wednesday, March 2nd 2011 - 17:21 UTC

  Insurers’ bill for the New Zealand earthquake climbs to 12 billion USD

  

  One of the world's biggest re-insurers Swiss Re described the New Zealand earthquake as a ''significant event'' for the global insurance industry, as it warned insurance losses from the disaster could top 12 billion US dollars.

• Wednesday, March 2nd 2011 - 17:14 UTC

  Car sales soar in the US during February, particularly GM and Toyota

  

  Sales of new vehicles jumped markedly in the United States in February, with sales by the world's two biggest automakers up the most.

• Wednesday, March 2nd 2011 - 15:42 UTC

  Range Rover Evoque awarded the title of best “Car Design of the Tear”

  

  The Range Rover Evoque has been awarded the title of Best Production Car in the 2010 Car Design News, Car Design of the Year awards. This highly regarded accolade is the first major international award for the Range Rover Evoque, which is shaping up to be one of the most exciting cars of 2011.

• Wednesday, March 2nd 2011 - 15:29 UTC

  Airlines profits to drop 50% from 2010 because of rising oil prices, says IATA

  

  Airlines stand to earn almost 50% less this year than in 2010 as rising oil prices limit the benefits of a rebounding economy, anticipated IATA.

• Wednesday, March 2nd 2011 - 07:20 UTC

  Latin America challenges to be discussed at IDB annual meeting in Canada

  

  Inter-American Development Bank (IDB) will hold its Annual meeting in Calgary, Canada, from March 25 to 28, with the participation of top government authorities from the Bank’s 48 member countries, including several finance ministers and central banks chiefs.

• Wednesday, March 2nd 2011 - 06:17 UTC

  US Congress works on bill to postpone government shut-down for two weeks

  

  The US House of Representatives has approved a measure to fund the US government for a further two weeks, avoiding a looming shut-down. The bill from the Republican-led chamber would cut government spending by 4 billion USD in that period.

• Tuesday, March 1st 2011 - 18:43 UTC

  Cell phones sales in Chile soared 21% in 2010 and now total 21 million

  

  In 2010, the number of cell phones in Chile grew to over 21 million, a 21% increase. Cell phone businesses attribute this growth to the number and variety of cheap tariffs available.

• Tuesday, March 1st 2011 - 18:40 UTC

  Brazil’s Embrear becomes the world’s leading executive-jet manufacturer

  

  Brazilian executive-jet maker Embraer boosted by domestic demand, became in 2010 the number one world company in sales totalling 145 units and 19% of the global market.

• Tuesday, March 1st 2011 - 06:55 UTC

  “Brazil has no money to buy jet fighters” in 2011 confirms top official

  

  The Brazilian government has “no money to buy jet fighters” in 2011 confirmed Finance minister Guido Mantega in reference to the tender for the purchase of at least 36 modern aircraft and for which France, United States and Sweden are competing.