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Time of India
2 hours ago
- Automotive
- Time of India
Panasonic's battery unit profit grows 47% y/y in Q1 on AI boom
Panasonic on Wednesday said operating profit at its battery-making energy unit grew strongly in the first quarter due to the AI investment boom , offsetting negative impacts from US tariffs and the termination of electric vehicle tax credits . Profit for the key unit, which makes batteries for Tesla and other EV makers, rose 47 per cent year-on-year to 31.9 billion yen ($215.6 million). "Concerns remain over a further slowdown in EV demand due to US tariff policies and termination of IRA 30D tax credit", Panasonic said in a presentation slide, but noted demand for data centre-bound energy storage systems is "growing more than anticipated". For the full-year that ends in March 2026, the company kept its operating profit forecast for the energy unit at 167 billion yen. Panasonic Holdings said in May it would cut 10,000 staff and expected to book restructuring costs of 130 billion yen as part of a push to improve group profitability. The electronics manufacturer said at the time it did not expect to book any restructuring costs in its energy business. Last week, Panasonic Energy's major customer Tesla warned of fallout from the US government's legislation to cut a $7,500 tax credit for EV buyers. Panasonic Energy operates a plant in the US state of Nevada that provides batteries to Tesla and earlier this month started production at its second US plant, in Kansas. It also makes energy storage systems for data centres in its consumer business, which in the April-June quarter saw a rapid rise in demand owing to massive AI-related investments, the company said. But both auto batteries and consumer energy storage systems would see certain impact from US President Donald Trump's tariffs, it added, without providing the impact forecast in numerical terms. Panasonic Energy is investing in new battery technologies as it competes with Chinese and South Korean rivals such as CATL and LG Energy Solution (LGES) in the global EV supply chain. Last week, LGES warned of slowing demand by early next year due to US tariffs and policy uncertainties after it reported a profit jump for the April-June period.
Business Insider
2 hours ago
- Business
- Business Insider
Top 5 African countries that produced the most oil in June 2025
Oil production is still a major source of income and a substantial contributor to the GDP of many African countries, making it a reliable resource. However, this resource's production usually varies from month to month, and June has been no exception. Oil remains a vital contributor to GDP for numerous African nations. June witnessed a notable rise in OPEC Reference Basket and front-month contract prices. Global economic growth forecasts for 2025 and 2026 remain consistent with previous predictions. In June, the average value of the OPEC Reference Basket (ORB) was $69.73/b, up $6.11 month over month (m-o-m). The ICE Brent front-month contract had a monthly gain of $5.79 to an average of $69.80/b, while the NYMEX WTI front-month contract saw a monthly increase of $6.39 to an average of $67.33/b. As per the latest OPEC Monthly report for July, the global economy maintained its steady growth track, aided by the strong growth observed in 1H25. Global economic growth forecasts for 2025 and 2026 remain unchanged at 2.9% and 3.1%, respectively. Forecasts for US economic growth in 2025 and 2026 continue at 1.7% and 2.1%, respectively. Japan's economic forecasts remain unchanged at 1.0% for 2025 and 0.9% for 2026. Global oil demand growth is expected to stay at 1.3 million barrels per day (mb/d) in 2025, unchanged from last month's prediction. 'West African crude differentials also strengthened in June on renewed demand from European and Asian buyers for July-loading cargoes. The high value of similar grades in other regions also helped to lend support to West African grades,' the report states. Additionally, the report showed that China's overall exports to the US decreased by 28% during the last two months, but this was more than made up for by a rise in shipments to other continents, such as Africa, Latin America, the ASEAN area, and the EU. With that said, here are the African countries with the highest oil production last month in thousand barrels per day (tb/d), according to OPEC's latest report. Top 5 African countries that produced the most oil in June 2025 Rank Country DoC crude oil production based on secondary sources, tb/d Change between June and May 1. Nigeria 1,547 19 2. Libya 1,280 -24 3. Algeria 927 7 4. Congo 256 0 5. Gabon 234 2
Hindustan Times
3 hours ago
- Climate
- Hindustan Times
Seasonal anxiety during monsoon: Psychologist shares 5 causes and 7 tips to manage it efficiently
Monsoon's gloomy skies are contagious and not in a good sense either, as they are making people gloomy too. Often we don't talk about uncomfortable truths (universal coping mechanism!) and like to view monsoon as poetic, and choose to write lyrical pieces about the wind, petrichor and the sound of rain. But this is just surface-level romanticisation, because deep down, the monsoon season brings seasonal anxiety as well. During monsoon, many people experience mood and anxiety.(Shutterstock) Narendra Kinger, Consultant Clinical Psychologist & Psychotherapist at Holy Family Hospital, Bandra, Mumbai, shared with HT Lifestyle how people get anxious, to the point of getting anxiety attacks. He said, 'A growing number of individuals, this season marks a rise in unease, mood fluctuations, and even anxiety attacks. We often see a notable uptick in mental health consultations during the monsoon months, and there's a strong physiological and psychological basis behind this trend.' While having tea and fritters by a window on a rainy day may sound like a reasonable option (the way it's romanticised, tea and monsoon are practically married), it still may not fill the void left by the changes brought on by the season. Understanding the reasons behind this emotional shift and actively attempting to reduce its impact (not just by retreating to comfort foods) is the solution to navigating monsoon-induced anxiety with more clarity. ALSO READ: Beyond chai, pakoras this monsoon: Try these 9 recipes and snack pairings for rainy days Narendra Kinger shared a guide covering the reasons why monsoon triggers anxiety and what one can do to reduce it: Reasons why people are more anxious in monsoon AI can help personalise treatment for anxiety.(Shutterstock) 1. Reduced sunlight and disrupted circadian rhythms Less exposure to natural sunlight affects serotonin production, a key neurotransmitter involved in mood regulation. Diminished daylight also disrupts circadian rhythms, leading to poor sleep, which is directly linked to increased anxiety. 2. Barometric pressure and sensory overload Shifts in barometric pressure can affect inner ear balance and trigger a physical sense of unease. Persistent rain sounds, dark skies, and damp environments create sensory stressors that may exacerbate symptoms in those already prone to anxiety. 3. Seasonal Affective Disorder (SAD) with an anxious edge While SAD is more commonly associated with winter, it is also seen in the monsoon. Its monsoon variant in tropical climates often includes symptoms like restlessness, irritability, and agitation, a departure from the typical depressive presentation. These signs are often misread or dismissed as mood swings. 4. Increased isolation and lifestyle changes Frequent rains can restrict social interaction and physical activity, especially for the elderly or those with chronic illnesses. A lack of movement and socialisation contributes to feelings of loneliness and rumination, fertile ground for anxiety disorders. 5. Mould, dampness, and respiratory sensitivity Poor ventilation and damp indoor conditions foster mould growth, which has been linked in recent studies to neuropsychiatric symptoms, including anxiety. Those with allergies or asthma are particularly vulnerable, as respiratory distress can mimic or trigger panic attacks. How can you prevent anxiety in monsoon? Sleep helps to make you less anxious, so avoid scrolling on your phone 1-2 hours before bedtime.(Pexels.) 1. Prioritise Light Therapy Use daylight-spectrum lamps in the early morning to simulate sunlight and stabilise circadian rhythms. Even a 20-minute session can help restore energy and reduce mood disturbances. 2. Establish a sleep discipline Avoid irregular sleeping hours. Maintain a fixed bedtime, limit screen use 1–2 hours before sleeping, and consider melatonin supplements after medical consultation if insomnia persists. 3. Introduce structured movement indoors Even 15 minutes of yoga, resistance band workouts, or dance therapy can stimulate endorphins and decrease cortisol levels. Avoid skipping workouts simply because of weather limitations. 4. Limit caffeine and monitor your diet Caffeine, often consumed more during rainy, cosy days, can worsen palpitations and restlessness. Swap with calming herbal teas like chamomile or lemon balm. Avoid foods high in refined sugars that spike and crash energy levels. 5. Practice sensory grounding techniques For those experiencing anxiety spikes, grounding exercises, such as the 5-4-3-2-1 technique, help reorient the mind. Keep lavender or peppermint essential oils at hand for olfactory calming. 6. Monitor indoor environment Use dehumidifiers or anti-fungal agents to prevent mould growth. Ensure your home is well-ventilated and clean air filters regularly. Healthy air quality directly contributes to better mental clarity. 7. Visit an expert Don't wait for symptoms to escalate. Psychotherapy, especially cognitive-behavioural therapy (CBT.) It is highly effective in addressing seasonal and weather-related anxiety. Note to readers: This article is for informational purposes only and not a substitute for professional medical advice. Always seek the advice of your doctor with any questions about a medical condition.
CNBC
3 hours ago
- Business
- CNBC
At 10 years old, Ethereum's future is brighter than ever despite recent setbacks
It's been a decade since Ethereum's inception, and although its native ether token has largely struggled for the last half of it, its future looks brighter than ever. Ether has become more attractive to institutions in recent weeks largely due to legislation around stablecoins – most of which are issued on Ethereum – being signed into the first-ever U.S. crypto law. There's also the successful June IPO of Circle, the issuer of the second-largest stablecoin, new leadership at the Ethereum foundation, and, most recently, a boom in ether treasury firms and corporate entrants. Until very recently, however, it seemed like ether, better known by its ticker ETH, was left for dead. For one, institutional investors struggled to understand its purpose. While bitcoin's primary digital gold narrative was clear and digestible, Ethereum's was more complex, having been likened to a world computer, a web3 app store, digital silver, digital oil, ultrasound money and more. It's also suffered from weaker revenue following a big technical upgrade last year and has dealt with increasing competition from Solana, which aims to be the solution to Ethereum's notorious high costs and slow speeds. The ether ETFs, now about a year old, were starting to look like zombie funds. They've amassed about $9 billion in net inflows since listing, helped largely by the latest resurgence, versus bitcoin ETFS' $36 billion in their first year of trading. The April sell-off in risk assets made things even worse for the coin. The price of ETH really took off during the 2021 bull market, when it hit an all-time high near $5,000 – a rally characterized by the rise of decentralized finance, better known as DeFi, and NFTs. But it's struggled to fully come back since the 2022 crash and hasn't yet revisited those highs. This week, it's trading near $4,000 — a psychologically and technically challenging resistance level for ETH investors. "ETH today is roughly where bitcoin was in January 2019 – that's when bitcoin turned 10," said Avichal Garg, a co-founder and general partner at Electric Capital, which has long invested heavily in the Ethereum ecosystem. "It's not a surprise that after 10 years of uptime, that's just how long it takes for people to get their heads around this. I suspect the next four to five years is where ETH has its institutional arc, the same way that bitcoin did between 2019 and 2024." The idea for Ethereum was conceived by the computer programmer Vitalik Buterin, an early believer in bitcoin who saw the original cryptocurrency network as valuable, but recognized it was not equipped technologically to handle bigger and more sophisticated applications. The whitepaper, written by Buterin and others to detail the vision and use cases of the cryptocurrency, was released in 2013 and the network launched on July 30, 2015. Over the years, it has powered crypto trends like DeFi, NFTs and decentralized autonomous organizations and tokenization. During the 2021 bull market, it was normal at one point to pay more for transaction fees than the actual NFT or DeFi trade – sometimes more than double. It initially launched as a protocol similar to the Bitcoin network. But in 2022, it underwent a technical transition called the Merge, which was meant to increase its processing capacity and improve its security in an energy efficient way. It also opened investors up to staking opportunities, which allow them to earn "yield," or rewards, on their ether holdings. Despite the apparent froth in the market – stocks at new records, the return of meme stocks, crypto treasury companies multiplying by the day – the current hype around Ethereum seems to have done a 180 from the last bull run. Instead of meme coins and NFTs, the future is the tokenization of dollars and other traditional assets by the world's biggest institutions. With a more favorable regulatory environment, they're embracing crypto technology's lower costs, faster settlement times, greater transparency about ownership and performance and programmable terms, as well as increased accessibility for retail investors and global reach. BlackRock CEO Larry Fink has said he sees the "tokenization of every financial asset" as an important step in "the technological revolution in the financial markets." Despite Ethereum's shortcomings, it still leads its competition in the most important factor. "The North Star that Ethereum has stuck to from the very beginning was a maximally decentralized network," said Austin King, co-founder and CEO of Omni Network, a blockchain platform that operates on top of Ethereum. "As stablecoins and institutional interest is starting to grow, we really are seeing the value proposition of that extreme level of decentralization really showing once again." "So much of the value that this whole technology class is providing is about removing the need to rely on other parties," he added. "Solana is an incredible network … but where Ethereum really shines is the decentralization of the network. And if you are managing hundreds of billions of dollars, trillions of dollars of assets, what you care about most is ensuring that you actually really do have a neutral platform that people can operate on."
Economic Times
4 hours ago
- Economic Times
Travelling abroad? Why you must get travel insurance even when it is not mandatory
ET Online The number of Indians travelling abroad has been steadily increasing, reflecting a rise in disposable incomes, better global connectivity, and a desire to explore new destinations. According to data from the Ministry of Tourism, Government of India, in the last calendar year, 2024, around three crore Indians travelled overseas for different reasons. This includes leisure, education, business, seeking better job opportunities and medical treatment. This year, the figure is expected to climb even higher, underscoring the growing trend of outbound travel among Indian citizens. Foreign travel: Travel insurance not mandatory but essential If you're among those planning to travel abroad in 2025, keep in mind that, depending on where you're headed, you might need to sort out travel insurance along with your passport and a valid visa. There are a handful of countries that do not require travel insurance, but, many nations do require valid travel insurance as a must-have before they grant you an entry visa. These regulations are in place not only to safeguard tourists during emergencies but also to make sure that any surprise expenses, such as hospital stay or medical evacuations, do not put a strain on the healthcare system of the host experts stress that even where it is not compulsory, it is prudent to take travel insurance. Subrata Mondal, Managing Director & CEO, IFFCO TOKIO General Insurance Company Limited, says, "Travel insurance may not be mandatory, but it is highly recommended for financial protection during international travel."Meet Kapadia, Head of Travel Insurance at says, "Even when travel insurance is not mandatory for a visa, it is highly recommended that travellers must have it. Travel insurance safeguards travellers from medical emergencies arising out of unforeseen events such as accident, sudden rise epidemic situation or any such related medical condition or unfortunate events like trip cancellation, baggage and document loss, trip delay, accidental death or disability. It offers peace of mind and financial protection during unforeseen events in foreign land, where medical or logistical costs are often very high." What is covered under travel insurance? Travel insurance policies, as the name suggests, are typically offered by insurers to cover a range of uncertainties that may come up while traveling, including health emergencies, luggage loss, flight cancellations and more. Elaborating on the travel insurance coverage, Mondal explained, "In travel insurance, medical expenses and personal accident are the main coverages. The policy also covers loss/delay of checked-in baggage, loss of passport, hijack distress, financial emergency, and personal liability. Premium is calculated based on the selected sum insured and age band of the traveller." It's worth mentioning that the minimum sum assured you need can change based on where you're traveling. For instance, a lot of European countries that are part of the Schengen agreement ask for proof of insurance for a specific amount before they give you a visa. In other cases, the amount of insurance is up to the traveller but it's strongly recommended to have enough to prevent any financial issues during advises travellers to be mindful of personal and destination-specific considerations when purchasing a policy. "One should consider age, health condition, destination-specific requirements, and the adequacy of coverage offered," he said."The Insured can opt up to SI of $500,000, if travelling to USA and Canada," he matter if you're heading to Europe, Southeast Asia, the United States, or any other part of the world, with travel insurance in hand, you can rest easy as it gives that extra layer of comfort and security against unforeseen emergencies. It may seem to be an additional expense, but the protection it offers can be priceless when you face medical issues, theft, or trip disruptions far from home, especially when you might not have enough financial support if something goes wrong. Kapadia says, "In cases if, some medical issue (say fracture in leg) began during the travel dates, there are some travel insurance plans that cover treatment for those after returning to India. Also, a few travel insurance plans allow inbuilt extension for 7-10 days after the travel dates. For baggage and trip home-to-home covers helps with delay/loss of baggage in both to and fro of the trip. Thus, baggage loss and baggage delay can also be claimed. This safety buffer by insurers ensure protection for travellers in case of any unforeseen circumstance."As more Indian travel internationally, having the right insurance coverage can turn a stressful situation into a more manageable one. N.R. Narayana Murthy Founder, Infosys Watch Now Harsh Mariwala Chairman & Founder, Marico Watch Now Adar Poonawalla CEO, Serum Institute of India Watch Now Ronnie Screwvala Chairperson & Co-founder, upGrad Watch Now Puneet Dalmia Managing Director, Dalmia Bharat group Watch Now Martin Schwenk Former President & CEO, Mercedes-Benz, Thailand Watch Now Nadir Godrej Managing Director, of Godrej Industries Watch Now Manu Jain Former- Global Vice President, Xiaomi Watch Now Nithin Kamath Founder, CEO, Zerodha Watch Now Anil Agarwal Executive Chairman, Vedanta Resources Watch Now Dr. Prathap C. 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