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Panasonic cuts full-year outlook as costly raw materials weigh

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Panasonic cuts full-year outlook as costly raw materials weigh

Japan’s Panasonic Holdings Corp (6752.T) cut its annual operating profit forecast by 12.5% on Thursday after lower-than-expected third-quarter earnings, hit by headwinds from a slowing global economy and persistently high raw materials prices.

The company faces challenges amid a tricky outlook for global growth, as it looks to further build out its energy business, which includes making auto batteries for electric vehicle (EV) maker Tesla Inc (TSLA.O).

The conglomerate slashed its operating profit forecast to 280 billion yen ($2.18 billion) for the financial year to Mar. 31, from 320 billion yen, in part due to a less rosy outlook for its industry segment this quarter.

It expects to invest up to about 600 billion yen in the three years through March 2025 in a new battery plant it started building in Kansas last year, Group Chief Financial Officer Hirokazu Umeda told an online earnings presentation.

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Panasonic said in presentation materials it will aim to grow profits in automotive batteries by expanding sales of its 2170 model lithium-ion battery cells and commercialising the more advanced 4680 format battery.

The company’s energy unit last month signed an agreement with Lucid Group Inc (LCID.O) to supply lithium-ion batteries for the EV maker’s full lineup, including its “Air” luxury model.

The company also said it aimed to begin supplying the 4680 format battery to the North American market in the financial year through March 2024 to commercialise this model of battery cells.

Panasonic’s third-quarter result, with its operating profit rising 16% to 84.4 billion yen in the three months ended Dec. 31, fell short of a mean estimate of 95.31 billion yen profit from nine analysts.

Jefferies analysts said in a note before the earnings release that the company’s overly diverse business portfolio lacked focus and was centred on low-margin, cyclical businesses.

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Most investors were focused on more clarity and details about U.S. Inflation Reduction Act benefits for Panasonic’s EV battery cell production, such as the size and sustainability of subsidies, the analysts added.

The energy business’ operating profit fell nearly half to 28.9 billion yen for the nine months through the end of December, hit mainly by high prices for raw materials and transport, despite a 25% rise in sales over the period.

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WhatsApp to launch file sharing feature without internet

WhatsApp to launch file sharing feature without internet

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WhatsApp to launch file sharing feature without internet

The messaging app WhatsApp, owned by Meta, is working on a cool new feature to make it easier to share files even when you’re not connected to the internet.

Recent leaks say that pretty soon, you’ll be able to share photos, videos, music, and documents offline.

This new feature is all about letting you share different kinds of files without needing Wi-Fi or data. And don’t worry about security – the files you share will be encrypted, which means they’ll be safe from anyone trying to mess with them.

Screenshots that got leaked from the latest test version of WhatsApp for Android show us what kind of permissions this feature will need. One important thing is that it’ll be able to find other phones nearby that also have this offline file-sharing thing.

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For this to work on Android phones, WhatsApp needs a permission that lets it look for other devices using Bluetooth. But if you’re not comfortable with that, you can always turn it off.

Before this, WhatsApp added a feature that lets you pin notes to keep them handy. So, looks like WhatsApp is always coming up with cool stuff to make chatting even better!

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Flame-throwing robotic dog unleashed for sale in US

Flame-throwing robotic dog unleashed for sale in US

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Flame-throwing robotic dog unleashed for sale in US

A flame-throwing robotic dog is now available for sale in the US, thanks to an Ohio-based company.

Throwflame first released the contraption last year but recently announced it was back in stock, asking for $9,420 a piece.

The company released a promotional video showing the ARC Flamethrower and saying it can “send streams of fire up to 30 feet with the push of a button.”

The flamethrower is attached to a Go2 Robot Dog manufactured by the China-based Unitree.

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Throwflame said on its website the flamethrowers are legal to own and are “federally unregulated,” but are “not even considered a firearm (ironic) by the federal authorities.”

The company released its first flamethrowers in 2015, called the X15, which could send “a stream of flaming fuel or napalm up to 50 feet.”

That prompted a huge media response, questioning its legality. But Throwflame said the device remains “completely unrestricted in 48 states.”

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US military stage world’s first ever AI controlled warplane

US military stage world’s first ever AI controlled warplane

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US military stage world's first ever AI controlled warplane

The United States has finally started to seek answers to one of the most asked questions on the planet – who wins between man and machine?

Incredible details have emerged of the world’s first ever AI controlled warplane taking on a human piloted jet in a historic dogfight that saw both aircraft blasting through the sky at speeds of 1,200mph.

The insane test saw an AI powered modified F-16 – dubbed the X-62A – take on the same jet but with a human in the cockpit.

Both powerful jets went “nose-to-nose” as they battled 2,000ft up in the air, say officials.

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The tests were conducted by the Defense Advanced Research Projects Agency (DARPA) alongside the US Air Force to learn about just how advanced artificial intelligence really is.

Results of the intense air battles have been kept tightly under wraps but they were done to show how safe and effective autonomous fighter jets could be.

Officials were also intrigued to see how close AI powered military jets are to operating safely in a complex war environment.

In the end, 21 test flights were done for the project taking place between December 2022 and September 2023.

Lt. Col. Maryann Karlen, deputy commandant of the test pilot school, explained how it all worked in a fascinating video on the historic dogfight.

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They said: “In September we actually took the X-62 and flew it against a live manned F-16.

“We built up in safety using the manoeuvres – first defensive, then offensive, then high aspect nose-to-nose engagements where we got as close as 2,000 feet at 1,200 miles per hour.”

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