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

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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

by USNN World NewsMay 8, 2025May 12, 2025

NATIONAL NEWS

Ex-CIA Officer Alleges That Election Irregularities Could Be Part of a Big Scheme

By Allen Zhong Gary Berntsen, a former Central Intelligence Agency (CIA) career officer who worked on various counterterrorism deployments, worries that the irregularities that happened ...

Sidney Powell’s Election Lawsuit in Georgia Gets Expedited Appeal

By Zachary Stieber A federal appeals court agreed on Wednesday to expedite the appeal in a case brought by lawyer Sidney Powell against election officials in Georgia. A judge ...

Thousands of Ballots Were Scanned Numerous Times in Dominion Machines: Contractor Witness

By Isabel Van Brugen A Dominion Voting Systems contractor who worked at Detroit’s TCF Center on Election Day testified before the Michigan House Oversight Committee on Dec. 2 that ...

Attorney Lin Wood Seeks More GOP Support in Fight Against Election Fraud

By Petr Svab One of the lawyers leading a legal battle over election results in several states has criticized the Republican Party over a lack ...

Over 1,000 Chinese Military-Linked Researchers Have Left US Since Federal Crackdown: DOJ Official

By Cathy He More than 1,000 Chinese military-linked researchers have left the United States since authorities arrested several suspected undercover Chinese military officers over the summer, ...

Powell Files Lawsuit for Arizona’s GOP Electors, Alleges Dominion Software Manipulation

By Isabel Van Brugen Attorney Sidney Powell filed a lawsuit in federal court on Dec. 2, alleging that at least 400,000 illegal ballots were counted in Arizona’s general ...

GOP Congressman: IT Technician ‘Effectively Wiped’ Election Data From Servers in Fulton County

By Jack Phillips Georgia secretary of state spokesman: ‘Nothing to do with servers being wiped’. Rep. Barry Loudermilk (R-Ga.) highlighted alleged election irregularities in Georgia’s Fulton County ...

Wisconsin USPS Subcontractor Alleges Backdating of Tens of Thousands of Mail-In Ballots

By Isabel Van Brugen A Madison, Wisconsin, man who said he worked as a postal subcontractor in the run up to Election Day, alleged on Tuesday ...

3 Percent of Nevada Mail Ballots in Question After Survey Finds Defrauded Voters

By Ivan Pentchoukov An audit of 1,440 Nevada mail-ballots suggests that 2 percent of the ballots were cast on behalf of voters who never received a ballot ...

Trump Calls for ‘Full Forensic Audit’ of Mail-In Ballots

By Jack Phillips President Donald Trump on Wednesday called for a full forensic audit of mail-in ballots that were cast in key states during the Nov. 3 ...

Trump: US Election System ‘Under Coordinated Assault and Siege’

By Zachary Stieber President Donald Trump asserted on Dec. 2 that he won the 2020 election and said America’s election system is under siege. Trump, speaking from the White ...

Trump Team to File Lawsuit: 40,000 People Voted Twice in Nevada

By Jack Phillips A lawyer for President Donald Trump’s campaign said the team is preparing to file a lawsuit soon alleging that 40,000 people voted twice in Nevada, ...