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Industrial production grows 11.5% in July

Albemarle Reaffirms 2021 Guidance; Introduces 2022 Outlook, Long-term Targets

Albemarle Corporation (ALB) reaffirmed the company’s full-year 2021 guidance. The company continues to expect a modest improvement in full-year 2021 operating performance compared to 2020, assuming continued global economic recovery.

For full-year 2022, the company expects adjusted EBITDA to be up 25% to 35% from 2021 primarily due to higher pricing and volumes for Lithium and anticipated stronger performance for Catalysts following previous pandemic-related weakness.

For 2026 long-term financial targets, the company estimates net sales (5-Year CAGR) in a range of 13% – 17%.

“We see exciting growth opportunities ahead for Albemarle, primarily driven by the importance of electrification in the transition to more sustainable sources of energy,” said CEO Kent Masters.

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By Christopher Orr

China fines auto chip sales companies for driving up prices

FILE PHOTO: Cars drive on the road during the morning rush hour in Beijing, China, July 2, 2019. REUTERS/Jason Lee/File Photo

BEIJING (Reuters) – China market regulator said on Friday that it fined three auto chip sales companies for driving up prices, in a move to help auto production in the world’s biggest vehicle market.

The State Administration for Market Regulations said on its website that it fined three companies 2.5 million yuan ($388,300) each.

($1 = 6.4382 Chinese yuan renminbi)

Shooting ‘Scenes From a Marriage’: ‘I Cried Every Day’

Jessica Chastain and Oscar Isaac struggled to divorce themselves from their characters in this HBO remake of the Ingmar Bergman series.

By Alexis Soloski

Rockies Insider: Drew Romo off to strong start in minors as Colorado’s catcher of the future

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Producer prices surge 8.3% annually, fifth straight record gain

Inflation isn’t transitory, despite what Fed says: Ryan Payne

Payne Capital Management President Ryan Payne on the latest market and economic trends. 

Producer prices climbed at the fastest annual pace on record for the fifth consecutive month in August as supply-chain disruptions and materials shortages continued to put upward pressure on costs. 

The producer price index for final demand jumped 8.3% year over year, according to the Labor Department. The reading was hotter than the 8.2% increase that analysts surveyed by Refinitiv were expecting and above the 7.8% print recorded in July. The reading was the strongest since recordkeeping began in November 2010.

Producer prices rose 0.7% in August, slowing from the 1% increase the month prior. Economists were anticipating a 0.6% gain.  

Prices for final demand services rose 0.7% last month, making for the the eighth straight monthly increase. More than 30% of the increase in prices for final demand services was due to a a 7.8% rise in margins for health, beauty, and optical goods retailing.

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Final demand goods prices rose 1% in August, accelerating from a 0.6% increase in July. Half of the gain was the result of a 2.9% rise in prices for final demand foods. 

Core producer prices, which exclude food and energy, climbed 6.7% annually and 0.6% in August. Analysts were expecting increases of 8.2% and 0.6%, respectively. The annual increase was the largest since the data set began in August 2014. 

Broadway’s ‘Tina’ Sets November Replacement For Adrienne Warren: Nkeki Obi-Melekwe To Take Title Role

Nkeki Obi-Melekwe, who has played the title role in the West End and Broadway productions of Tina – The Tina Turner Musical, will take over full time on Broadway Nov. 2 after Tony-nominated star Adrienne Warren ends her limited engagement return.

As previously announced, Warren will portray the iconic singer when Tina returns to Broadway’s Lunt-Fontanne Theatre on Friday, October 8. She’ll leave the show on Oct. 31 due to other commitments.

The replacement casting of Obi-Melekwe was announced today by producers. Obi-Melekwe was among the original Broadway cast when the show opened in 2019, playing Turner during matinee performances.

Joining Warren when Tina resumes performances next month will be principal players Daniel J. Watts as Ike, Dawnn Lewis as Zelma, Myra Lucretia Taylor as Gran Georgeanna and Jessica Rush as Rhonda.

The musical is written by Katori Hall with Frank Ketelaar and Kees Prins, directed by Phyllida Lloyd with choreography by Anthony van Laast.

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Among Warren’s upcoming projects is ABC’s Women of the Movement, in which she’ll play Mamie Till-Mobley, mother of Emmett Till.

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Industrial production grows 11.5% in July

The manufacturing sector’s output surged 10.5 % in July 2021.

India’s industrial production rose to 11.5 % in July, according to official data released on Friday.

As per the Index of Industrial Production (IIP) data released by the National Statistical Office (NSO), the manufacturing sector’s output surged 10.5 % in July 2021.

In July, the mining output climbed 19.5 % and power generation increased 11.1 %.

The IIP had contracted 10.5 % in July 2020.

During April-July this year, the IIP grew 34.1 %. It was a contraction of 29.3 % in the same period last year.

Industrial production has been hit due to the coronavirus pandemic since March last year when it had contracted 18.7 %. It shrank 57.3 % in April 2020 due to a decline in economic activities in the wake of the lockdown to curb the spread of coronavirus infections.