Economy - USNN World News

Economy

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

by USNN World NewsMay 21, 2025May 21, 2025

Economy

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

by USNN World NewsMay 19, 2025May 19, 2025

Economy

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

by USNN World NewsMay 18, 2025May 18, 2025

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

by USNN World NewsMay 8, 2025May 12, 2025

NATIONAL NEWS

Trump Should Demand Special Counsel to Investigate Election Fraud

By Jack Phillips About two-dozen House Republicans are calling on President Donald Trump to direct Attorney General William Barr to appoint a special counsel to investigate election ...

US Attorney’s Office in Delaware Is Investigating Hunter Biden’s Taxes

By Jack Phillips Hunter Biden, the son of Democratic presidential candidate Joe Biden, said Wednesday he is being investigated by the U.S. Attorney’s office in Delaware. “I ...

YouTube to Delete Content Alleging Presidential Election Fraud

By Jack Phillips YouTube announced that from Dec. 9 it will block and remove content that contains statements “alleging widespread fraud or errors changed the outcome ...

This Election Doesn’t Pass the Smell Test

By Michael Walsh Commentary Let’s start with this inconvenient and overriding truth about the 2020 election: there is no such thing as a Joe Biden fan. ...

Trump on Election Battles: Legislators, Judges Need ‘Courage’ to Do What’s Right

By Zachary Stieber President Donald Trump on Tuesday wondered if lawmakers or judges have the courage to help him challenge election results in key battleground states. “Let’s see whether ...

States Back Texas in Supreme Court Suit, Alleging ‘Unconstitutional’ Election in Battleground States

By Janita Kan Several states have expressed their support for Texas’s bid to challenge the election results in four battleground states, which was filed on Tuesday ...

Troubling Foreign Ties Behind Voting Machines Used in US

By Bowen Xiao Behind a significant portion of voting machines used in the United States lies a complex web of questionable foreign ties, a hidden ...

Inauguration Committee Fails to Pass Resolution Acknowledging Biden as President-Elect

By Jack Phillips The Joint Congressional Committee on Inaugural Ceremonies voted down a resolution to acknowledge Joe Biden as the president-elect as President Donald Trump and ...

Campaign Lawyer: Legislatures in Swing States Will Switch Electors to Trump

By Zachary Stieber President Donald Trump’s campaign is confident that at least one state legislature will take back the power to select electors and change to supporting ...

Sidney Powell on Georgia Lawsuit: ‘Expect to Get Relief from Supreme Court’

By Jack Phillips Lawyer Sidney Powell, who filed several lawsuits challenging the election results, said on Monday that she hopes her lawsuit in Georgia will be heard by ...

Michigan House Chairman Tells Dominion CEO to Appear or Be Subpoenaed

By Zachary Stieber A Michigan lawmaker leading the investigation into the 2020 election threatened Dominion Voting Systems CEO with a subpoena if he doesn’t appear before his ...

Richard Grenell on Election Fraud, Nevada Voting Machines, and Trump’s ‘America First’ Diplomatic Success

By Jan Jekielek In this episode, we sit down with Richard Grenell, the former Acting Director of National Intelligence and former U.S. Ambassador to Germany from ...