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Production of new Honda Civic, others cut

DETROIT | Honda Motor Co. warned U.S. dealers Monday that it will run short of popular models such as the Civic compact later this summer because of parts shortages caused by Japan’s earthquake.

It said normal production may not return until the end of the year.

Honda will significantly cut production of the new 2012 Civic, the sixth-most-popular car in the U.S., through the summer, if not longer.

In addition, the 2012 version of the CR-V small SUV will be delayed by at least a month this fall. To make up for shortages, Honda will keep making the 2011 version.


More than $400 million possibly Gadhafi’s funds

GENEVA | The Swiss government said it has identified assets worth more than $416 million that may belong to Libyan leader Moammar Gadhafi or his entourage.

Swiss Foreign Minister Micheline Calmy-Rey revealed the figure Monday at a diplomatic meeting in Tunis, the Tunisian capital.

She also said Switzerland has linked some $474 million to former Egyptian President Hosni Mubarak and $69 million to Tunisia’s deposed autocrat Zine El Abidine Ben Ali.

Switzerland ordered banks and other financial institutions to freeze assets possibly belonging to the three men and key supporters to prevent the funds from being secretly withdrawn.

The Swiss government said Tunisia and Egypt have already started legal proceedings to claim the assets.


Southwest completes purchase of AirTran

DALLAS | Southwest Airlines Co. closed its $1 billion purchase of AirTran on Monday, securing its spot as one of the biggest domestic airlines.

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