Panasonic cuts full-year outlook as costly raw materials …

Panasonic Holdings 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 energy business’s operating profit fell nearly half to ¥28.9 billion 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.