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.
September retail sales fall 1.2 percent (Reuters)
2008.10.1514 minutes ago
WASHINGTON (Reuters) - Sales at U.S. retailers posted the biggest monthly decline in more than three years in September, according to a government report on Wednesday that showed consumers struggling to cope with falling home and stock prices.
Sales fell 1.2 percent last month to a seasonally adjusted $375.5 billion, after a revised 0.4 percent drop in August, previously reported as a 0.3 percent decline. The September decline was the sharpest since August 2005, when sales fell 1.4 percent.
Economists polled by Reuters had expected a 0.7 percent decline for September.
Excluding autos, retail sales were off 0.6 percent for the month, double the 0.3 percent decline that economists had forecast.
The house downturn continued to take a toll on furniture and home furnishings, with sales falling 2.3 percent, the sharpest decline since February 2003.
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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.
