Report says euro has contributed to development and low inflation
Thursday 01 May 2008
General Motors, the American car maker, enjoyed booming profits from new markets in Asia and Latin America that compensated for a deterioration in its home market. Investors cheered the latest quarterly results from the car maker, which showed a $1bn profit from its international business. Overseas sales now account for 64 per cent of the company's revenue, and Rick Wagoner, the chief executive, called growth in some Asian markets "tremendous". GM was the first Western car maker to sell a million vehicles in China and growth has been spurred by rising living standards in emerging economies.
The overseas performance was a bright spot in the first three months of the year, when losses in the North American division quadrupled to $812m. Debt-burdened US consumers are holding off on big purchases such as cars, and those that do buy are increasingly choosing smaller, less expensive vehicles to save money on petrol. Strikes at GM's suppliers and a $1.45bn writedown of its ailing consumer finance division GMAC also contributed to an overall group loss of $3.25bn, but the figures was smaller than Wall Street had feared.
- 2 Caitlyn Jenner car crash: Driver who died in collision sued by surviving passengers for $18.5m
- 3 Watch the Supermoon live: How to see the brightest Moon of the year tonight
- 4 Hulk Hogan wants to be Donald Trump's running mate in the US Presidential election
Caitlyn Jenner car crash: Driver who died in collision sued by surviving passengers for $18.5m
Celebrity Big Brother 2015: Tila Tequila kicked off show after 'describing Hitler as a good man'
Watch the Supermoon live: How to see the brightest Moon of the year tonight
Hulk Hogan wants to be Donald Trump's running mate in the US Presidential election
Blood Moon and Supermoon: September to bring brightest – and dimmest – full Moon of the year on same night
Climate change: 2015 will be the hottest year on record 'by a mile', experts say
'Women only' train carriages: Jeremy Corbyn unveils radical move to tackle public harassment
Black holes are a passage to another universe, says Stephen Hawking
Iain Duncan Smith 'should resign over disability benefit death figures', says Jeremy Corbyn
Tony Blair attacks Jeremy Corbyn's 'Alice In Wonderland' politics
Stock up on canned food for stock market crash, warns former Gordon Brown adviser
iJobs Money & Business
£25000 - £30000 per annum: Recruitment Genius: From modest beginnings the comp...
£35000 - £40000 per annum: Recruitment Genius: From modest beginnings the comp...
£15000 - £65000 per annum: Recruitment Genius: This is an exciting opportunity...
£18000 - £20000 per annum: Recruitment Genius: This is a fantastic opportunity...