China considers same tax rate for domestic, overseas firms (AFP)
AFP - Chinese lawmakers have mulled a draft law that would impose a 25 percent income tax on both domestic and foreign firms, eliminating the preferential rate for overseas companies, according to state media.
Cerberus in wide-ranging talks with Renault and GM (Reuters)
2008.10.17By Kevin Krolicki and Jui Chakravorty 8 minutes ago
DETROIT/NEW YORK (Reuters) - Chrysler LLC has had talks with Renault SA (RENA.PA) about a tie-up or a sale, one of a series of potential deals under urgent review that include consideration of breaking up the No. 3 U.S. automaker just over a year after it was taken private, people familiar with the talks said on Thursday.
Cerberus Capital Management (CBS.UL) has also been talking to General Motors Corp (GM.N) about a transaction in which GM could acquire some of Chrysler's other assets, including its top-selling minivan line, a market segment Chrysler pioneered almost 25 years ago and has long dominated, one source said.
The contacts between Cerberus and automakers, including GM and Renault, remain wide-ranging and preliminary but have been given urgency by the sharp downturn in auto sales that has forced Chrysler, GM and Ford Motor Co (F.N) to take steps to cut costs and shore up their cash holdings.
Chrysler and GM had no comment. A representative for Renault could not be immediately reached for comment.
(Additional reporting by David Bailey in Detroit)
Top News
More articles on this topic:
China says to continue stable monetary policy (Reuters)
Reuters - China's central bank said on Monday that it would continue to take steps to keep investment and credit growth in check, while pressing ahead with efforts to make the value of its currency more market-driven.
Reuters - China's central bank said on Monday that it would continue to take steps to keep investment and credit growth in check, while pressing ahead with efforts to make the value of its currency more market-driven.
Economic growth concerns drag down indexes (Reuters)
Reuters - U.S. stocks dropped on Friday as concerns about slowing economic growth persisted, causing investors to sell shares of bellwether companies such as plane maker Boeing Co. and leaving all three major indexes in the red for the week.
Reuters - U.S. stocks dropped on Friday as concerns about slowing economic growth persisted, causing investors to sell shares of bellwether companies such as plane maker Boeing Co. and leaving all three major indexes in the red for the week.
Russia tax office files suit vs PWC on YUKOS audit (Reuters)
Reuters - Russian tax authorities have filed a suit against the local branch of PricewaterhouseCoopers (PwC) accusing it of producing a false audit for fallen oil company YUKOS, the auditor said on Monday.
Reuters - Russian tax authorities have filed a suit against the local branch of PricewaterhouseCoopers (PwC) accusing it of producing a false audit for fallen oil company YUKOS, the auditor said on Monday.
Japan keeps view that economy is recovering (Reuters)
Reuters - The Japanese government kept its assessment of the economy unchanged in a monthly report on Monday, after downgrading it for the first time in almost two years last month.
Reuters - The Japanese government kept its assessment of the economy unchanged in a monthly report on Monday, after downgrading it for the first time in almost two years last month.
