Hollingsworth Daily Post

• Finland's Nokia has appointed Microsoft business manager Stephen Elop as its new chief executive.Mr Elop - the first non-Finn to head Nokia - will replace Olli-Pekka Kallasvuo, a lifelong employee who had been chief executive since 2006.The appointment may mark a sea-change in strategy at the top of the company.In July, Nokia reported a 40% slump in second quarter profits, as it has struggled to maintain its lead in the booming smartphone market.
• Shares in Deutsche Bank have fallen sharply on reports it will raise 9bn euros (£7.4bn, $11.4bn) in new equity.The move is being seen as the first shot in a string of fund-raisings by banks around the world.Germany's biggest bank saw its shares open down 5.5%, with shares in other banks across Europe also falling, including Barclays and Commerzbank.On Sunday, global banking regulators meet in Switzerland to approve new capital and liquidity rules.
• China reported a surprise surge in imports during August, leading to a fall in its trade surplus to $20bn (£13bn).Imports rose 35.2% from a year ago, faster than the 26.1% markets expected.This means that imports grew slightly faster than exports, which rose by only 34.4%, as expected.The news, which follows a surprising contraction in the US trade deficit in July, may weaken critics of China's trade practices in the US.
• 7-Eleven, the largest convenience store chain in the US, has made a $2bn offer to buy smaller rival Casey's.The offer, of $40 a share, could spark a bidding war as Canadian retailer, Alimentation Couche-Tard, has previously made two bids for Casey's.7-Eleven operates more than 7,100 stores in the US and Canada, while Iowa-based Casey's has 1,531 stores.7-Eleven is owned by Japanese firm Seven & I which sees its future growth coming from the US.
• The global economic recovery is slowing faster than forecast, but a return to recession is unlikely, a leading global economic group has said.The Organisation for Economic Co-operation and Development (OECD) said the slowdown had been more "pronounced than anticipated".As a result, it lowered its growth forecast for 2010 for the G7 leading economies to 1.5%, down from 1.75%.It added the economic outlook was characterised by "great uncertainty".
• A German banker at the centre of a row over comments he made about immigration and race has agreed to stand down, the country's Central Bank has announced.Thilo Sarrazin, a board member of the Bundesbank, will leave his post at the end of this month.He has said that Jews "share a particular gene" and has accused Muslims of failing to integrate.Chancellor Angela Merkel was among several leaders who called for his removal from the board.
• The US trade deficit was smaller than expected in July, figures have shown, as exports reached their highest level in almost two years.US Commerce Department figures showed the gap between imported and exported goods fell 14% to $42.8bn (£27.8bn).Exports rose by 1.8% as US-made goods such as aircraft, industrial machinery and computers proved popular.Imports dipped 2% as consumer demand for items such as clothing, televisions and toys fell.
• The United States has been overtaken by Sweden and Singapore in the World Economic Forum's (WEF) competitiveness survey for 2010-11.The change meant that the US slipped two places to fourth in the WEF's latest ranking.Switzerland, which overtook the US last year, remains the top ranked economy.Germany rose to fifth, and was the best placed eurozone country. The UK, after falling back in recent years, moved up one place to 12th position.

BBC Business News 10th September 2010