News Snapshot:
Profits at China’s industrial firms grew at a weaker pace in August from a year earlier, slowing for a sixth consecutive month, as manufacturers struggled with high commodity prices, the coronavirus and shortages in some key components. Profits rose 10.1 per cent year on year to 680.3 billion yuan (US$105 billion) last month compared with a 16.4 per cent gain in July, data from China’s statistics bureau showed on Tuesday. Momentum in the world’s second-biggest economy has weakened in recent months with its vast manufacturing sector buffeted by gathering headwinds. Industrial production rose in August at its slackest pace since...
