Hollingsworth Daily Post

• Global hunger has fallen this year but remains "unacceptably high", a report from the UN's Food and Agriculture Organization (FAO) has said.people in 2010, compared with 1.02 billion in 2009.
  But it warned that the fight to reduce hunger would face additional obstacles if food prices continue to rise.A separate report from Action Aid estimates that hunger costs developing countries $450bn (£292m) a year.
• US retail sales rose by 0.4% in August, official figures have shown, the strongest gain in five months.It was the second straight month of gains, and was slightly better than analysts had predicted, which has helped to ease concerns about the health of the US economy.The figures from the US Commerce Department were especially robust for clothing and fuel.But car sales fell 0.7% for the month after increasing by 1% in July.
• Finnish phone giant Nokia has vowed to fight back as it battles for customers in the increasingly competitive smartphone market.The company unveiled three new smartphones - E7, C7 and an updated C6 - at London's Nokia World conference.Nokia is still the largest maker of smartphones but is facing stiff competition from the likes of Apple, Google and Blackberry maker RIM.Nokia's Niklas Savander told delegates the firm had been losing out to rivals.
• Afghanistan's central bank has stepped in to take control of the troubled Kabul Bank.Central bank chief Abdul Qadir Fitrat said investigations had also been started into the dealings of the bank's top two directors and shareholders.Customers have been withdrawing money from the bank amid fears it may collapse following allegations of corruption and mismanagement.Earlier this month, Mr Fitrat said Kabul Bank was "safe and sound".
• The yen has hit a new 15-year high against the US dollar after Japanese Prime Minister Naoto Kan won a vote for control of the ruling party.The dollar slid to 83.09 yen shortly after it was confirmed that Mr Kan had survived the leadership contest. It was later trading at about 83.40 yen.Analysts fear the rising yen is undermining Japan's recovery, making exports less competitive overseas.The record low for the dollar is 79.75 yen, reached in April 1995.
• India's inflation rate fell in August to its lowest level since January, partly due to changes in the way it is calculated.
  India's wholesale-price-index (WPI) inflation slowed to 8.5% last month, down from 9.8% in July, official figures show.The new index includes a wider range of consumer goods, such as computers, scooters and refrigerators.Under the old system August's inflation rate would have been 9.5%.
• UK Consumer Prices Index (CPI) inflation remained unchanged in August at 3.1%, according to the Office for National Statistics (ONS).It means the rate remains well above the Bank of England's 2% target, and it brings to an end a three-month period during which the rate had been falling.The unexpectedly high rate was boosted by strong rises in air fares, clothing and food. Fuel prices fell.Retail Prices Index (RPI) inflation slowed to 4.7%, down from 4.8% in July.

BBC Business News 14 September 2010