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Category: Economy

The US Economy

Mortgage Demand Slumps, Rates Rise to Highest Level Since February
Posted inEconomy

Mortgage Demand Slumps, Rates Rise to Highest Level Since February

USNN World Newsby USNN World NewsMay 21, 2025May 21, 2025
Senate Passes ‘No Tax on Tips Act’ in Unanimous Vote
Posted inEconomy

Senate Passes ‘No Tax on Tips Act’ in Unanimous Vote

USNN World Newsby USNN World NewsMay 21, 2025May 21, 2025
New Vehicle Inventory in April Declines, Affordability Worsens: Cox Automotive Analysis
Posted inEconomy

New Vehicle Inventory in April Declines, Affordability Worsens: Cox Automotive Analysis

USNN World Newsby USNN World NewsMay 19, 2025May 19, 2025
Market Review: Stocks Roar Back in 5-Day Winning Streak
Posted inEconomy

Market Review: Stocks Roar Back in 5-Day Winning Streak

USNN World Newsby USNN World NewsMay 18, 2025May 18, 2025
Moody’s Strips US of Final AAA Rating Over Rising Debt, Interest Costs
Posted inEconomy

Moody’s Strips US of Final AAA Rating Over Rising Debt, Interest Costs

USNN World Newsby USNN World NewsMay 17, 2025June 4, 2025
US Pending Home Sales Dip By 3.4 Percent to ‘Lowest Level on Record’: Report
Posted inEconomy

US Pending Home Sales Dip By 3.4 Percent to ‘Lowest Level on Record’: Report

USNN World Newsby USNN World NewsMay 15, 2025May 15, 2025
The Fed Fears Inflation While Ignoring Deflation
Posted inEconomy

The Fed Fears Inflation While Ignoring Deflation

USNN World Newsby USNN World NewsMay 14, 2025May 14, 2025
Student Loan Delinquencies Soar as Pandemic-Era Protections Expire
Posted inEconomy

Student Loan Delinquencies Soar as Pandemic-Era Protections Expire

USNN World Newsby USNN World NewsMay 13, 2025May 13, 2025
US Inflation Slows to Lowest Level Since February 2021
Posted inEconomy

US Inflation Slows to Lowest Level Since February 2021

USNN World Newsby USNN World NewsMay 13, 2025May 13, 2025
Markets Rally After US, China Announce 90-day Tariff Reductions
Posted inEconomy

Markets Rally After US, China Announce 90-day Tariff Reductions

USNN World Newsby USNN World NewsMay 12, 2025May 12, 2025
Market Review: Stocks Retreat on Fed Caution and Trade Uncertainty
Posted inEconomy

Market Review: Stocks Retreat on Fed Caution and Trade Uncertainty

USNN World Newsby USNN World NewsMay 10, 2025May 10, 2025
Japanese electronics manufacturer Panasonic plans to terminate 10,000 workers globally as part of a reform to resolve “structural issues,” the company said in a May 9 statement. The layoffs target 5,000 Japanese employees and 5,000 overseas workers at Panasonic’s consolidated companies. Job cuts are set to be implemented mainly in fiscal year 2026, “in accordance with the labor laws, rules, and regulations of each country and region.” “The company will thoroughly review operational efficiency at each Group company, mainly in sales and indirect departments, and reevaluate the number of organizations and personnel actually needed,” said the statement. Story continues below advertisement Panasonic will also terminate loss-making businesses that have “no prospect of improving profit.” “Through these measures, the company will optimize our personnel on a global scale,” it said. The layoffs are part of Panasonic’s broader management reform. The company is banking on these measures in fiscal 2026 to “resolve its various structural issues.” Related Stories Homes for Sale in Washington Surge 25 Percent Amid Federal Layoffs 5/8/2025 Homes for Sale in Washington Surge 25 Percent Amid Federal Layoffs Layoffs Drop, Jobless Claims Climb Ahead of April Jobs Report 5/1/2025 Layoffs Drop, Jobless Claims Climb Ahead of April Jobs Report The management reform seeks to improve profit by a minimum of 150 billion yen—roughly $1 billion—in fiscal year 2027 compared to fiscal 2025. For the current fiscal year 2026, Panasonic expects structural reforms to cost the company 130 billion yen, approximately $900 million. In an April 10 statement, Yuki Kusumi, the CEO of Panasonic Group, highlighted the need to change the organizational culture in the company. “There is a deep-rooted tendency toward following the established framework once a decision has been made. If we are going to improve the efficiency and quality of our work, then we must become an organization that is constantly changing, with each individual taking the initiative to make changes,” he said. “I believe we need to advance to the stage where change is considered a virtue. To achieve this, it is extremely important that we avoid being constrained by deeply ingrained behaviors.” The layoff announcement came on May 9 as Panasonic reported its consolidated financial results for fiscal year 2025, which ended on March 31. Story continues below advertisement Sales were at 8,458.2 billion yen, approximately $58 billion, down 0.5 percent from a year ago, which was partly due to the impact of deconsolidation in the company’s automotive segment, said the earnings report. Operating profit jumped 18 percent year-over-year, partly due to higher sales. According to Panasonic, the global economy experienced a gradual slowdown during the fiscal year ending March 31. For fiscal year 2026, net sales are expected to decrease, with operating profit also forecast to fall. Potential impacts of tariffs from the United States were not included in the forecast. “The company continues to monitor the tariff situation and aims to minimize the resulting impact by taking measures from both short-term and medium- to long-term perspectives,” Panasonic said. In January, Panasonic Well, a division of the company, announced a plan to create “the first comprehensive wellness ecosystem” for families. “Families are at their breaking point as chronic stress, disconnection, and fragmented wellness solutions are taking a toll, and the call for help is loud and clear,” the company said. Panasonic’s wellness solution is expected to aid families in dealing with wellness issues and “help modern families thrive.”
Posted inEconomy

Panasonic Announces 10,000 Layoffs Worldwide

USNN World Newsby USNN World NewsMay 9, 2025May 9, 2025

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NATIONAL NEWS

  • Vaccine Mandate Violates Constitutional Rights: Pennsylvania LawsuitVaccine Mandate Violates Constitutional Rights: Pennsylvania Lawsuit
    By Beth Brelje Have you had your COVID-19 vaccination? This has become a loaded question with implications beyond health. A Pennsylvania lawsuit argues that receiving or declining a vaccine ...
  • Pilot and Crew Stress Over Vaccine Mandates Real Reason for Flight Cancelations, Group SaysPilot and Crew Stress Over Vaccine Mandates Real Reason for Flight Cancelations, Group Says
    By Jannis Falkenstern The cancellation of more than 1,500 American Airlines flights over the weekend has been attributed by the company to weather and staffing issues, but ...
  • 2,500 NYC Firefighters Haven’t Received COVID-19 Vaccine: De Blasio2,500 NYC Firefighters Haven’t Received COVID-19 Vaccine: De Blasio
    By Jack Phillips New York City Mayor Bill de Blasio said that about 2,500 city firefighters, or 23 percent of the city’s force, are not vaccinated on ...
  • Facebook to Shut Down Facial Recognition System, Delete Data of 1 Billion UsersFacebook to Shut Down Facial Recognition System, Delete Data of 1 Billion Users
    By Jack Phillips Facebook Inc. on Tuesday announced it is shutting down its facial recognition system that identifies users in videos and photos, while claiming it will delete ...
  • US Gasoline Prices Rise to Fresh 7-Year HighUS Gasoline Prices Rise to Fresh 7-Year High
    By Tom Ozimek Prices of regular gasoline in the United States have risen to a new seven-year high, though a slight dip in domestic demand meant that ...
  • Cartels Using Narco Slaves to Grow Illegal Marijuana on Industrial Scale in OregonCartels Using Narco Slaves to Grow Illegal Marijuana on Industrial Scale in Oregon
    By Scottie Barnes Seven years after Oregon legalized recreational marijuana, the market for cannabis is booming. But rather than propagate a legal agricultural sector that grows ...
  • New York City Firehouses Face Shutdowns Amid De Blasio’s Vaccine MandateNew York City Firehouses Face Shutdowns Amid De Blasio’s Vaccine Mandate
    By Tom Ozimek Rep. Nicole Malliotakis (R-N.Y.) said 26 New York City firehouses halted operations on Saturday “due to Mayor de Blasio’s decision to lock unvaccinated firefighters ...
  • Intolerance of Dissenting Views Suppressing Tough Questions About Inflation, Afghanistan, COVID-19: Peter ThielIntolerance of Dissenting Views Suppressing Tough Questions About Inflation, Afghanistan, COVID-19: Peter Thiel
    By Nathan Worcester In his keynote address to the National Conservatism Conference Oct. 31, billionaire tech entrepreneur Peter Thiel argued that false consensus has silenced ...
  • Amid Shortages and Delays, Industries Question Old Inventory StrategiesAmid Shortages and Delays, Industries Question Old Inventory Strategies
    By Rachel Hartman Ongoing disruptions in America’s supply chains have prompted manufacturers to review and modify their inventory management systems. Just-in-time (JIT) inventory management, which calls for the ...
  • New Hampshire School Boards Association Leaves National Organization Over Parent ControversyNew Hampshire School Boards Association Leaves National Organization Over Parent Controversy
    By Christopher Burroughs The New Hampshire School Boards Association (NHSBA) announced Thursday that it has withdrawn from the national organization following the group’s efforts to target parents. The ...
  • NYC: 40 Percent of Inspected Businesses Noncompliant With Vaccine Pass MandateNYC: 40 Percent of Inspected Businesses Noncompliant With Vaccine Pass Mandate
    By Petr Svab NEW YORK CITY—Approximately two in five New York City restaurants, gyms, and entertainment venues weren’t fully abiding by the city’s COVID-19 vaccination ...
  • Democrats’ IRS Snooping Scheme Removed After Bipartisan CriticismDemocrats’ IRS Snooping Scheme Removed After Bipartisan Criticism
    By Joseph Lord Congressional leadership has cut a controversial program from their new budget bill that would have allowed the IRS to gain unprecedented information from Americans’ ...
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