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Business News: iPhone Price Wars

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(CBS) - In Business News, three big-box retailers are in an iPhone price war.

Wal-mart is selling the 5C model for $45 dollars after Best Buy and Radio Shack announced they would sell the smartphones for $50 bucks, about half the suggested retail price.

(CBS) - A white diamond the size of a small egg has sold for more than $30 million at a Hong Kong auction.

the "flawless" oval diamond weighs 118 carats. It was found in southern Africa two years ago.

While the final price set a new record for a white diamond, it came in below the low end of Sotheby's estimated price.  

(CBS) - The fictional TV news anchor Ron Burgundy is now hawking Chrysler cars.

Actor Will Farrell plays the part of the anchorman, talking up the new Dodge Durango SUV.

This is all about cross promotion, Farrell is doing the ads for free in exchange for the promotion of his "Anchorman" sequel out in theaters in December. 

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