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In a speech in South Carolina, former US President Joe Biden declared that he had handed over "the strongest southern border" and "the worlds strongest economy" to incumbent President Donald Trump. "This is not an exaggeration."February 28 – On February 27 local time, Ambassador Fu Cong, Chinas Permanent Representative to the United Nations, stated at the interactive dialogue on the implementation of the UN Future Compact that, against the backdrop of increasing international instability, implementing the Future Compact is of even greater significance for promoting multilateralism, upholding the authority of the United Nations, and improving global governance. China supports the Secretariat in working with member states to translate the vision of the Future Compact into concrete practice, injecting stronger momentum into the cause of world peace and development.The U.S. Deputy Secretary of State expressed support for Pakistans position in the Afghan conflict.A federal judge in Oregon has barred Immigration and Customs Enforcement (ICE) from making unlawful arrests in the state without justifiable cause, arguing that the agency’s “trawling operations” violate “clear and uncontested” laws.On February 28, the Cuban Embassy in the United States released new details regarding an alleged armed infiltration by a US-flagged speedboat for "terrorist purposes." The statement indicated that two boats, not one, departed from Florida. One experienced a technical malfunction en route, and its crew was transferred to the other, ultimately arriving at their destination on the same vessel. Cuban authorities seized 134 magazines and a total of 12,846 rounds of ammunition of various calibers.

Panasonic Anticipates A Rise in Global Automobile Production This Fiscal Year

Aria Thomas

Jun 01, 2022 14:49

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Panasonic (OTC:PCRFY) Holdings Corp, which manufactures batteries for Tesla (NASDAQ:TSLA) and other automakers, stated on Wednesday that it anticipates a recovery in global vehicle production this fiscal year, but that the two-year semiconductor shortage will persist.


Masashi Nagayasu, CEO of the Japanese conglomerate's automotive business, which manufactures in-car infotainment systems and other auto components, stated, "We will operate our business in consideration of the risks of fluctuations in vehicle manufacturing."


Nagayasu stated on the first day of Panasonic's annual investor event that the company has no plans to produce automobiles.


Panasonic, whose automotive division accounts for approximately 14 percent of its entire revenue, anticipates a 19 percent increase in sales for the fiscal year ending in March 2023. It anticipates an operational profit increase of roughly 17 percent.


Due to component shortages caused by COVID-19 lockdowns in China and higher commodity prices as a result of Russia's invasion of Ukraine, the company stated last month that it did not anticipate a profit increase for this fiscal year.


(This item corrects the firm name in paragraph 1 to Panasonic Holdings Corp from Panasonic Corp, and the sales growth forecast in paragraph 4 to 19 percent from 10 percent, and the operating profit forecast to nearly 17 percent from 15 percent decline.)


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