China Inflation Slows Slightly In July

China’s consumer price inflation slowed marginally in July, while factory gate inflation accelerated on commodity prices, data published by the National Bureau of Statistics showed on Monday.

Consumer prices grew 1 percent year-on-year in July, slightly slower than the 1.1 percent rise seen in June. The annual rate was expected to ease to 0.8 percent.

On a monthly basis, consumer prices gained 0.3 percent, in contrast to the 0.4 percent drop in the previous month. Prices were forecast to rise 0.2 percent.

Core inflation that excludes food and energy prices, rose to 1.3 percent from 0.9 percent a month ago.

Food prices were down 3.7 percent as pork prices plunged 43.5 percent. Meanwhile, non-food prices grew 2.1 percent.

Another report from the NBS showed that factory gate inflation accelerated in July after moderating in June.

The producer price index climbed 9 percent annually versus the 8.8 percent rise in June. Economists had forecast the index to rise again by 8.8 percent.

Higher prices of crude oil prices, thermal coal and related products raised producer prices, Dong Lijuan, an official with NBS, said.

Asset manager abrdn's H1 profit jumps even as outflows continue

Rebranded asset manager abrdn posted a 77% jump in first-half profits on Tuesday, helped by a rise in fees despite it posting a net drop in assets under management.

The blue-chip company, formerly Standard Life Aberdeen, said on Tuesday that adjusted pretax profit rose to 163 million pounds ($225.66 million) in the six months to June, above the company-supplied market consensus of 154 million pounds.

"We have made a strong start to the year and our three-year growth plan," said abrdn chief executive Stephen Bird, who took on the role last year.

"Each of our three growth vectors have delivered higher revenue and profits, contributing to the highest overall rates of growth since the merger."

The results are a boost for Bird, who has set out a strategy that prioritizes Asia along with responsible investing and the company's British adviser and consumer business.

Abrdn said assets under management and administration stood at 532 billion pounds, compared to 535 billion pounds at the end of 2020. It said the drop was due to "flows and corporate actions" though these were partly offset by positive market movements. Net outflows were 5.6 billion pounds.

The company reiterated its outlook and declared an interim dividend of 7.3 pence, the same as last year.

GOP Lawmaker Wants To Rename ‘Florida’s Urethra’ Highway After Donald Trump

Florida state Rep. Anthony Sabatini (R) drew backlash and mockery on Monday after saying he’d filed a bill to rename U.S. Route 27 — which runs through his state — after Donald Trump.

Sabatini, who is running for Congress in 2022, asked people on Twitter to sign a petition “to name Florida’s longest road” the “President Donald J. Trump Highway” to “honor one of America’s greatest Presidents.”

Some critics suggested Sabatini should currently be focused more on the COVID-19 crisis that is once again engulfing the state, where new infections have soared in recent weeks.

Others reminded the Florida Republican of twice-impeached Trump’s legacy:

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Air France KLM and Accor shares fall after U.S. travel warning on France's COVID rates

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PARIS, Aug 10 (Reuters) – Shares in Air France KLM and French hotels company Accor fell on Tuesday after the United States issued a travel warning on France, due to high levels of the COVID-19 virus in the country.

Air France KLM shares were down 0.7% in early session trading, while Accor declined by 0.8%.

On Monday, the U.S. Centers for Disease Control and Prevention (CDC) warned against travel to Israel, France, Thailand, Iceland and several other countries because of a rising number of COVID-19 cases in those nations.

Black Colleges, From the Start, Were Given Less and Expected to Do More

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Kirin Holdings H1 Profit Down; Cuts FY21 Earnings, Revenue View

Kirin Holdings Co. Ltd. (KNBWF.PK,KNBWY.PK), a Japanese manufacturer of alcohol beverages and soft drinks, reported Tuesday that its first-half profit attributable to owners of the company declined 28.7 percent to 23.75 billion yen or 28.48 yen per share from 33.31 billion yen or 39.31 yen per share last year.

Normalized operating profit, however, grew 2.9 percent to 71.91 billion yen from 69.86 billion yen a year ago.

Revenue was 864.02 billion yen, down 1 percent from 872.47 billion yen in the prior year.

Looking ahead for fiscal 2021, the company now projects attributable net profit of 86.50 billion yen or 103.77 yen per share, normalized operating profit of 170 billion yen and revenue of 1.87 trillion yen.

The company previously expected attributable net profit of 103 billion yen or 123.56 yen per share, normalized operating profit of 180 billion yen and revenue of 1.88 trillion yen.

Witan Investment Trust Turns To Profit In H1; Declares Dividend

Witan Investment Trust (WTAN.L) reported Tuesday that its first-half profit before taxation was 206.85 million pounds, compared to last year’s loss of 291.58 million pounds.

Earnings per ordinary share were 26.21 pence, compared to loss of 33.98 pence a year ago.

Revenue earnings per share for the period were 1.80 pence, a rise of 9% from last year’s 1.65 pence.

Total income was 216.94 million pounds, compared to prior year’s negative 257.96 million pounds.

Investment income was 19.37 million pounds, down from prior year’s 20.07 million pounds.

Further, the company announced a second interim quarterly dividend of 1.36p per ordinary share, which will be paid in September. Total dividends paid in respect of the period are 2.72p per ordinary share, up from 2.68 pence last year.