General Motors profits up 3.5%

General Motors third-quarter profits rose 3.5%, led by car and home loans.

The world's largest car maker trimmed its 2004 earnings forecast because of losses in Europe, where it announced plans to cut jobs by almost a fifth, and slower growth in Asia.

Net income increased to $440m, or 78 cents a share, from $425m, or 79 cents, a year earlier when there were fewer shares outstanding. Revenue rose 3% to $44.9bn, the Detroit- based company said.