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 to lay off 1,500 hourly workers as demand slows (Reuters)
2008.10.1715 minutes ago
DETROIT (Reuters) - General Motors Corp will lay off 1,500 hourly workers at plants in Michigan and Delaware where it builds pickup trucks, large cars and a two-seat roadster due to slowing demand, a spokesman said on Thursday.
GM, the largest U.S. automaker, told factory workers in late September that the cuts would be necessary, spokesman Tony Sapienza said.
The layoffs include 700 workers at a Pontiac, Michigan, assembly plant, as well as 400 each at plants in Hamtramck, Michigan, and Wilmington, Delaware, he said.
(Reporting by David Bailey; Editing by Phil Berlowitz)
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China says to continue stable monetary policy (Reuters)
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