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The Russian Ministry of Defense stated that it shot down 326 Ukrainian drones last night.Global Chip LOF: Trading will be suspended from the opening of the market on the afternoon of June 10, 2026 until the close of the market on the same day. During the suspension period, redemption services for this fund will continue as usual.On June 10th, the wheat market saw relatively stable prices, with some companies raising their purchase prices. With a large influx of new wheat onto the market, supply continues to increase, narrowing the price gap between new and old wheat. Flour processing companies in producing areas are purchasing new and old wheat at the same price. However, end-user demand remains weak, and flour mills are operating at low rates, primarily purchasing to replenish their inventories for immediate needs. On the policy front, grain depots are gradually resuming purchases, and prices, after falling, have stabilized and rebounded slightly. Increased reserve purchases have effectively alleviated downward price pressure from the concentrated arrival of new wheat. In the short term, new wheat prices remain stable due to the support of reserve purchases, but lack upward momentum in the near term.A Reuters poll predicts the Bank of Japan will raise interest rates to 1.25% in the fourth quarter (consistent with the results of the May poll).A Reuters poll shows that 94% of economists expect the Bank of Japan to raise its key interest rate to 1.00% in June (up from 65% in May).

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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