MELBOURNE, Aug 27 (Reuters) - Oil prices rose on Friday, on track to post big gains for the week, on worries about near term supply disruptions as energy companies began shutting in production in the Gulf of Mexico ahead of a potential hurricane forecast to hit on the weekend.

WASHINGTON, Aug 26 (Reuters) - U.S. corporate profits surged to a fresh record high in the second quarter, boosted by robust demand and higher prices, suggesting that an anticipated slowdown in economic growth this quarter because of soaring COVID-19 cases could be temporary.

TOKYO, Aug 27 (Reuters) - The dollar held firm on Friday after the U.S. Federal Reserve's hawkish wing called for tapering bond purchases as investors looked to a highly-anticipated speech by Fed Chair Jerome Powell later in the day.

BEIJING, Aug 27 (Reuters) - Profit growth at China's industrial firms in July grew at its slowest clip this year, as elevated raw material prices and supply chain constraints from extreme weather as well as sporadic coronavirus cases weighed on the manufacturing sector.

HONG KONG, Aug 26 (Reuters) - Asian shares stepped back on Thursday after a sharp rebound this week, though a solid Wall Street performance overnight contained losses in the region as rising vaccinations offset some of the worries over persistently high COVID-19 cases worldwide.

LONDON, Aug 26 (Reuters) - British car output fell to its lowest July level since 1956 as a global shortage of semi-conductor chips and staff having to self-isolate due to COVID-19 hit the sector, a trade industry body said on Thursday.