Asset manager Abrdn back in the black

Hello and welcome to our daily digest of business, financial and economic news from around Scotland.

1. Abrdn has beaten expectations and returned to profit in the first half of this year, posting first-half results of £187 million compared with losses of £169 million last year.

The asset management group had previously embarked on a significant cost-cutting exercise, slowing outflows from £4.4 billion in the first half of last year to £1.6 billion this year. The company said the return to profitability was partly down to the sale of its £7.4 billion European private equity business to Patria Investments last year.

Abrdn has been looking for a new chief executive, after Stephen Bird stepped down in May. Jason Windsor, Abrdn’s finance boss and interim chief