Economy News

Mexican shakes up world rich list

Mexican Carlos Slim overtakes Bill Gates as the world's richest man, according to the Forbes "rich list", with a fortune of $53.5bn. full story.

US reports record budget deficit

The US government records a budget deficit of $221bn (£147.6bn) in February - the largest monthly deficit in its history. full story.

BA strike talks end without deal

Talks between British Airways and Unite aimed at averting strike action by cabin crew break down without agreement. full story.

UK snow insurance claims at £650m

Insurers paid out £650m from 335,000 claims made as a result of damage caused by the wintry weather in the UK. full story.

China denies World Cup sweatshop

A Shanghai company denies it used sweatshop labour to produce World Cup mascots, as Fifa suspends its manufacturing contract. full story.

China's exports see big increase

China's exports surged 46% in February, figures show, raising hopes of a strong recovery in global trade. full story.

Insurers 'face $7bn Chile bill'

The earthquake in Chile may cost the global insurance industry as much as $7bn (£4.7bn), Swiss Re estimates. full story.

Airlines offer to give up slots

British Airways, American Airlines and Iberia offer to give up take off and landing slots in London and New York, say EU watchdogs. full story.

EU rule change 'may cut red tape'

Small firms may be exempted from having to draw up and lodge annual accounts, after MEPs approve changes to European Union rules. full story.

China to build Sri Lanka airport

China is to lend Sri Lanka just under $200m to build a second international airport in the south of the island. full story.

German exports fall unexpectedly

German exports fell unexpectedly in January, with analysts saying that the cold weather that month was to blame. full story.

EMI names ex-ITV boss as chairman

Troubled record company EMI - whose artists include Coldplay - has named former ITV boss Charles Allen as its new chairman. full story.

Oil price fall hits Tullow profit

Oil firm Tullow says profits for 2009 fell by 93% but it is optimistic after major new discoveries in Uganda and Ghana. full story.