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February 13th - The U.S. Bureau of Labor Statistics reported on Friday that the January Consumer Price Index (CPI) rose 0.2% month-over-month, slightly lower than Decembers 0.3% increase and also below economists expectations of 0.3%. Excluding volatile food and energy prices, the core CPI rose 0.3% month-over-month, slightly higher than Decembers 0.2% increase. Year-over-year, the CPI rose 2.4%, a slowdown from Decembers 2.7%, mainly due to the high base effect from last year; the core CPI rose 2.5% year-over-year, lower than Decembers 2.6%. The January report included, for the first time, an update to the seasonal adjustment factor reflecting price changes in 2025. Economists pointed out that the core CPI data in January often exceeds expectations because the Bureau of Labor Statistics model fails to fully account for one-off price increases at the beginning of the year. This months increase may reflect both this year-over-year effect and the transmission effect of Trumps broad tariffs. Despite the slowing inflation, a stabilizing labor market may allow the Federal Reserve to maintain interest rates for some time. Economists expect that inflation may rebound temporarily this year due to the transmission of import tariffs and the depreciation of the dollar last year.Following the release of the CPI data, expectations for a Federal Reserve rate cut in 2026 have risen to 61 basis points, up from just 58 basis points previously.US interest rate futures indicate that the probability of a Fed rate cut in June has been slightly raised to 69%, up from 63% before the data release.The market currently believes there is a 30% probability that the Federal Reserve will cut interest rates before April, and an over 80% probability before June.February 13 - On February 13 local time, Wang Yi, member of the Political Bureau of the CPC Central Committee and Foreign Minister, met with US Secretary of State Marco Rubio in Munich.

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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