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.
GM readies promotion as centennial nears: sources (Reuters)
2008.08.1828 minutes ago
DETROIT (Reuters) - General Motors Corp (GM.N) will roll out a major new sales promotion to U.S. dealers on Monday as it prepares events to mark the 100th anniversary of its founding, people briefed on the automaker's plans said.
The terms of the new sales incentives were not yet disclosed. GM had scheduled briefings for U.S. dealers, representing all of its brands from the mass-market Chevrolet to the upscale Cadillac, over the course of the day on Monday, the sources said.
GM had no comment.
GM's U.S. sales were down almost 18 percent through July. Executives and analysts have said industrywide sales have remained slack in August despite the recent easing in gas prices.
GM has a series of events scheduled for September 16 to mark its centennial and discuss future product plans, including the all-electric Chevrolet Volt.
(Reporting by Soyoung Kim and Kevin Krolicki; editing by John Wallace)
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