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| GM to start loan repayments early | GM to start loan repayments early |
| (10 minutes later) | |
| US car company GM has said it will start paying back its US government loan earlier than expected. | US car company GM has said it will start paying back its US government loan earlier than expected. |
| The first payment of $1.2bn will be made in December. It could fully repay the money by 2011, four years ahead of schedule. | The first payment of $1.2bn will be made in December. It could fully repay the money by 2011, four years ahead of schedule. |
| The news came as GM reported a third quarter net loss of $1.2bn. | The news came as GM reported a third quarter net loss of $1.2bn. |
| GM chief executive Fritz Henderson said the firm had work to do but that the results provided "evidence of the solid foundation we're building". | GM chief executive Fritz Henderson said the firm had work to do but that the results provided "evidence of the solid foundation we're building". |
| He said the firm had a healthier balance sheet with lower debt levels. | He said the firm had a healthier balance sheet with lower debt levels. |
| GM owes the US government $6.7bn and the Canadian government $1.4bn. Canada will also receive its first payment in December. | |
| In addition Germany will be repaid the outstanding 400m euros that it lent in support of GM's European business Opel. |