Hollingsworth Daily Post

• Shares in Blackberry-maker Research in Motion (RIM) rose more than 4% in after-hours trade after the firm posted stronger-than-expected profits.Net profit for the three months to August rose to $796.7m (£507m) from $475.6m a year earlier.The company has recently been involved in a row over data security in India and the Middle East.This was partly to blame for the firm adding fewer subscribers than expected in the quarter, RIM said.
• The UK's interim cap on immigration from outside the EU is damaging to British business, Lib Dem Business Secretary Vince Cable has said.Some companies were considering moving jobs abroad because they could not recruit the staff they needed, he said.He told the Financial Times he backs plans for a permanent cap from next April but wants it to be more flexible.The Home Office said the temporary cap, introduced in July, still allowed the brightest and best to enter the UK.
• European plans to change maternity rights will cost UK firms £2.5bn a year, a business group has warned.Under proposals to be voted on next month, women leaving work to having a child would be entitled to 20 weeks' leave on full pay.The British Chambers of Commerce (BCC) argues this is unaffordable, especially in the current financial crisis.However, others insist that it is wrong to allow policy to be influenced by temporary economic downturns.
• One in seven Americans was living in poverty in 2009 with the level of working-age poor the highest since the 1960s, the US Census Bureau says.The number of people in poverty increased by nearly 4m - to 43.6m - between 2008 and 2009, officials said.The bureau defines poverty as any family of four living on less than $21,954 a year.Meanwhile, new figures showed home foreclosures in August hit the highest level since the mortgage crisis began.
• The US Treasury Secretary, Timothy Geithner, says China's currency is significantly undervalued.Mr Geithner told a key committee of Senators that he was examining what mix of tools would encourage China to let the yuan appreciate more quickly.Unlike most other major currencies, China does not allow its currency to fluctuate freely according to market demand.It intervenes to keep it low, but said in June it should be allowed to rise.Mr Geithner said the yuan had appreciated just 1.9% against the dollar since then.
• Shareholders in the Italian carmaker Fiat have agreed to spin off its non-car assets and split the business.The move was approved by a large margin.John Elkann, Fiat's 34-year-old chairman and the grandson of the founder, Gianni Agnelli, called the vote an "historic" event that "gives birth to two Fiats".The split is designed to help Fiat integrate with Chrysler but also to form other alliances.Many major car makers have forged ventures with firms in the fast-growing markets of India and China.

BBC Business News 17th September 2010