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.
Market extends losses after Fed's Beige Book (Reuters)
2008.10.1618 minutes ago
NEW YORK (Reuters) - Stocks extended losses in afternoon trading on Wednesday, after the Federal Reserve said economic activity weakened across the United States in September as businesses rethought capital investments, and consumers curtailed spending.
Stocks had already been sharply lower as investors worried that global efforts to unlock credit markets would not prevent recession and Fed Chairman Ben Bernanke acknowledged the U.S. economy faced a significant threat.
The Dow Jones industrial average was down 522.73 points, or 5.61 percent, at 8,788.26. The Standard & Poor's 500 Index was down 68.74 points, or 6.89 percent, at 929.27. The Nasdaq Composite Index was down 108.41 points, or 6.09 percent, at 1,670.60.
(Reporting by Kristina Cooke; Editing by James Dalgleish)
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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.
