Economy - USNN World News

Economy

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

by USNN World NewsMay 21, 2025May 21, 2025

Economy

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by USNN World NewsMay 19, 2025May 19, 2025

Economy

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Economy

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

by USNN World NewsMay 17, 2025June 4, 2025

Economy

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

by USNN World NewsMay 15, 2025May 15, 2025

Economy

The Fed Fears Inflation While Ignoring Deflation

by USNN World NewsMay 14, 2025May 14, 2025

Economy

Student Loan Delinquencies Soar as Pandemic-Era Protections Expire

by USNN World NewsMay 13, 2025May 13, 2025

Economy

US Inflation Slows to Lowest Level Since February 2021

by USNN World NewsMay 13, 2025May 13, 2025

Economy

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

by USNN World NewsMay 12, 2025May 12, 2025

Economy

Market Review: Stocks Retreat on Fed Caution and Trade Uncertainty

by 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.”

Economy

Panasonic Announces 10,000 Layoffs Worldwide

by USNN World NewsMay 9, 2025May 9, 2025

Economy

Cox Automotive Says Tariffs Impacted Wholesale Used Car Prices in April

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NATIONAL NEWS

US companies riddled with members of Chinese Communist Party: Devine

By Miranda Devine As we try to come to terms with the extent of Chinese influence over the Biden family, a leaked database of registered ...

Chinese Regime Rushes to Destroy Files Overseas as US Cracks Down on Beijing’s Espionage: Leaked Document

By Cathy He, Frank Fang and Eva Fu This story is related to the leaked documents showing US State and Federal Government officials who are ...

Money From Facebook’s Zuckerberg Used to Undermine Election, Violate Law: Report

By Zachary Stieber Hundreds of millions of dollars from Facebook founder Mark Zuckerberg were used to violate election laws, according to a new report. The Amistad Project of ...

Michael Flynn: ‘The American People Have Been Buddy Breathing With Me for 4 Years’

By Janita Kan and Jan Jekielek Retired Army Lt. Gen. Michael Flynn, the former director of national intelligence, said he feels indebted to the American people ...

White House ‘Not Aware’ of Any Report Stemming From 2018 Executive Order: McEnany

By Jack Phillips White House press secretary Kayleigh McEnany told reporters Tuesday that she is not aware of any report issued by Director of National Intelligence John ...

Trump Campaign Lawyer Urges Probe Into Dominion at Colorado Election Integrity Hearing

By Tom Ozimek Jenna Ellis, senior legal adviser to the Trump campaign, urged Colorado lawmakers at an election integrity hearing Tuesday to launch an investigation into irregularities ...

Dominion’s ‘Adjudication’ Feature Scrutinized as Audit Reveals High Error Rate

By Petr Svab The “adjudication” feature of Dominion Voting Systems, which allows operators of the software to change votes on a ballot, has been cast into ...

Fraud Analyst Finds Average of 2 to 3 Percent Shift for Biden in Counties That Used Dominion

By Petr Svab A man who’s made a living developing fraud detection algorithms has discovered a curious phenomenon: Counties that started using Dominion Voting Systems machines have ...

Sidney Powell: Every Voting Machine Needs to Be Seized, Forensically Analyzed

By Bowen Xiao and Jan Jekielek Every single voting machine used in this year’s election should be impounded and reviewed for forensic analysis, according to ...

Arizona State Senate Subpoenas Maricopa County to Audit Scanned Ballots, Dominion Voting Machines

By Mimi Nguyen Ly The Arizona state Senate on Monday announced two subpoenas in the state’s most populous county to audit scanned ballots, voting machines, and software. Arizona ...

Electors in 7 States Cast Dueling Votes for Trump

By Ivan Pentchoukov Republican electors in Pennsylvania, Georgia, Michigan, Wisconsin, Arizona, Nevada, and New Mexico cast alternative slates of votes for President Donald Trump on Dec. 14, ...

Ownership of Dominion Draws Scrutiny After Unusual Fundraising

By Emel Akan WASHINGTON—Dominion Voting Systems has come under scrutiny for its ownership structure after its parent company raised funds with the help of a Swiss ...