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On August 5th, Texas Governor Greg Abbott ordered a halt to the approval of new data center projects through the states grid interconnection process, citing concerns that surging electricity demand could threaten grid reliability, amid growing opposition to these projects. Texas is poised to become one of the worlds largest data center hubs, with industry forecasts suggesting it could surpass Virginia by 2030 thanks to its abundant land, energy supply, and favorable business environment. However, local opposition to these facilities is growing due to their high energy and water consumption and the pollution caused by the power generation processes. Last month, New York became the first state in the U.S. to suspend large-scale data center construction. In a letter to the Texas Public Utilities Commission and grid operator ERCOT on Monday, Abbott instructed that all planned data centers be audited before any new data center projects can proceed.N-Senhe rose nearly 80%, with a transaction volume exceeding 250 million yuan.As of 09:30 Beijing time, WTI crude oil futures rose 1.14% and U.S. natural gas futures rose 0.60%.On Wednesday, August 5, the Hang Seng Index opened 38.07 points higher, or 0.15%, at 25,890.99; the Hang Seng Tech Index opened 16.13 points higher, or 0.33%, at 4,901.74; the H-share Index opened 10.74 points higher, or 0.13%, at 8,585.0; and the Red Chip Index opened 10.46 points lower, or 0.25%, at 4,134.95.The Peoples Bank of China announced today that it conducted a 5 billion yuan 7-day reverse repurchase operation, with a bid amount of 5 billion yuan and a winning bid amount of 5 billion yuan. The operation rate was 1.40%, unchanged from the previous rate.

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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