Clarkson H1 Profit Rises; Says Confident Of Longer-term Outlook – Quick Facts

Clarkson PLC (CKN.L), a provider of integrated shipping services, reported Monday that its first-half profit before taxation increased to 19.2 million pounds from 18 million pounds last year.

Earnings per share were 46.2 pence, up from 42.5 pence last year.

Underlying profit before taxation was 20.1 million pounds, compared to 19.2 million pounds a year ago. Underlying earnings per share were 48.5 pence, compared to 45.8 pence in the previous year.

Revenue for the period grew to 167.8 million pounds from 152.6 million pounds last year. This was despite challenges remaining in the shipping, offshore and capital markets.

Further, the Board has declared an increased interim dividend of 25 pence per share, higher than last year’s 24 pence, to be paid on September 20 to shareholders on the register at the close of business on September 6.

Looking ahead, the company said it continues to expect full-year results to be second half weighted. The company is encouraged by current trading conditions in the broking sector despite the ongoing challenges from market sentiment and global macro-economic uncertainty.

Andi Case, Chief Executive Officer, said, “We remain confident in the longer-term outlook for Clarksons, as we look to further strengthen our market-leading position across the shipping markets.”

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Hong Kong cancels all flights in and out of the city as protesters fill the airport for 4th day

• Hong Kong airporthas cancelled all flights going in and out of the city for the rest of the day as protesters occupy airport buildings, according to numerous outlets.
• Thousands of protesters continue to occupy Hong Kong International Airport for the fourth consecutive day.
• They are rallying against the mainland Chinese government and the Hong Kong police’s handling of recent rallies in the city.
• Visit Business Insider’s homepage for more stories.

Hong Kong airport authorities have cancelled all flights going in and out of the city for the rest of the day as protesters continue to gather at the busy hub, numerous outlets reported.

Thousands of people protesting the mainland Chinese government and Hong Kong police’s handling of the city’s recent rallies have occupied Hong Kong International Airport’s departures and arrivals hall for the past four consecutive days.

Flights that are currently airborne will be able to land,the South China Morning Post reported.

Earlier on Monday, Hong Kong International Airportrestricted the departures area to passengers with a ticket to leave the city in the next 24 hours.

Hong Kong International Airport did not immediately respond to a request for comment from Business Insider.

More to follow.

In Pictures: Pro-democracy protest takes place in Hong Kong airport terminal

London Bridge Recalls Infant Sock And Wrist Rattle Sets

London Bridge recalled around 7,500 units of matching infant sock and wrist rattle sets over possible choking hazard. According to the company, rattles sewn inside the socks and wristbands can detach, posing a risk to young children.

The sets meant for ages 0-6 months, were manufactured in China. They were in various colors and styles, including strawberry, ladybug, animals and sports themes, and sold at various boutique stores around the nation from January 2019 through May 2019 for about $7.

The hang tag on the product has the London Bridge name and logo and “Baby Wrist Rattle and Rattle Sock Set 0-6 months.”

The recall followed the company receiving one report of the stuffed rattle portions detaching. There were no injuries reported.

The company has urged consumers to immediately stop using the sock and rattle sets, and return them to the store where it was purchased or contact London Bridge for a full refund.

There have been more reports about infant product recalls recently. Dorel Juvenile Group USA’s inclined sleepers were recalled due to safety concerns about inclined sleep products. Further, H&M recalled children’s pajamas due to violation of federal flammability standard.

Scholz: Germany can fulfill its tasks without taking new debt

BERLIN, Aug 12 (Reuters) – German Finance Minister Olaf Scholz said on Monday that Berlin could implement ambitious policy steps such as abolishing an income tax surcharge for most employees and take climate protection measures without incurring new debt.

“We can fulfill the tasks that we’re tackling without new debt,” Scholz said when asked if he would stick to the balanced budget goal unreservedly.

His comments come after a senior government official told Reuters last week that the finance ministry, led by the centre-left Social Democrats (SPD), is considering the issuance of new debt.

Reliance's Internet of Things, Jio Fiber launched

Mukesh Ambani on Monday said that Jio which has amassed over 340 million subscribers in less than three years, is now ready to fire four new growth engines including Internet of Things (IoT) for the entire country, home and enterprise broadband services as well as broadband for SMEs.

“Revenue from each of these engines will kick in this fiscal itself,” Reliance Industries’ Chairman and Managing Director Mukesh Ambani said addressing the 42nd Annual General Meeting (AGM) here.

The investment cycle of Reliance Jio is complete, and about Rs 3.5 lakh crore has been invested in high-speed 4G network, he said.

Terming Jio’s journey since 2016 as “incredible”, Mr. Ambani said that India was “data dark” before the entry of Jio into the telecom market.

“Jio has made India data-shining bright. Today Jio customer base stands at over 340 million… The potential for growth is immense and half a billion customers, is now I believe well within our reach,” he said.