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On August 12th, analyst Giuseppe Dellamotta stated that silver has been steadily rising since last Tuesday, boosted by hopes of a US-Iran deal, with a weaker-than-expected non-farm payroll report providing further support. However, the upward momentum appears to be weakening and may require support from todays US CPI data to continue its gains. The CPI data is crucial for the September FOMC decision and Fed Chairman Warshs speech at the Jackson Hole symposium. Market focus will be on the core CPI month-on-month data, which is expected to be 0.2%. If the data is higher than expected, it could trigger a short-term sell-off, with traders increasing their bets on interest rate hikes. Conversely, if the data is weak or even in line with expectations, it should further reduce the risk of the Fed tightening policy and provide new upward momentum for silver.Citigroup raised its price target for AMD (SMCI.O) from $33 to $39.According to the Washington Post, the Trump administration plans to spend at least $900 million on White House construction.August 12th - Market sources indicate that Pakistan has stated the deadline for the US-Iran memorandum of understanding could be extended.On August 12th, according to Qichacha APP, Beijing Moons Dark Side Technology Co., Ltd. recently underwent an industrial and commercial registration change, with its registered capital increasing from 1.5236 million yuan to 2.2385 million yuan. Qichacha information shows that the company was established in 2023, and its business scope includes: development of basic artificial intelligence software; development of artificial intelligence application software, etc.

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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