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

New Lawsuit Asks Wisconsin Supreme Court to Declare All Drop-Box Ballots Illegal and Block Certification

By Tom Ozimek A new lawsuit filed with the Wisconsin Supreme Court seeks to block the state from certifying the election results, arguing that all ballots cast via ...

Michigan Complaint: Vote Counts ‘Not Normal’

By Christina Kim The complaint against Michigan’s Secretary of State Jocelyn Benson and Gov. Gretchen Whitmer, marks the beginning of Powell’s lawsuit against the state. Some of ...

Pennsylvania Senator: ‘Mounting Evidence’ Shows Election Was Compromised

By Zachary Stieber A growing body of evidence shows the presidential election in Pennsylvania was compromised, a state senator said Saturday. “There is mounting evidence that the PA presidential election ...

Sidney Powell’s Allegations in Georgia Serious Enough to Alter the Election Results: Expert

By Gary Du Harmeet K. Dhillon said that former federal prosecutor Sidney Powell’s allegations in her lawsuit filed in Georgia are serious enough to change the ...

Wisconsin Election Officials Say State Supreme Court Shouldn’t Invalidate Election

By Zachary Stieber Election officials in Wisconsin asked the state’s Supreme Court on Friday not to invalidate the Nov. 3 election. The Wisconsin Elections Commission said plaintiffs who filed an ...

Questionable Votes Exceed Margin: Analyst

By Kevin Hogan A data analyst performed 35 experiments in 5 states regarding voter data in the presidential election. According to his findings, in at ...

Giuliani: Trump Campaign Focusing on Supreme Court, State Legislatures

By Zachary Stieber President Donald Trump’s campaign is working on two fronts, Trump’s lawyer Rudy Giuliani said Friday: legal battles and state legislatures. “The objective here is twofold. One ...

Trump, USPS Appeal Ruling that Blocked Postal Service Changes Before Election

By Tom Ozimek President Donald Trump, The U.S. Postal Service (USPS), and Postmaster General Louis DeJoy on Friday appealed a federal judge’s ruling suspending service changes ...

President’s Lawyers Working to Convince Arizona’s Legislature to Appoint Trump Electors

By Zachary Stieber President Donald Trump’s lawyers are working to persuade lawmakers in Arizona to appoint electors for the Republicans to the Electoral College. “‘We’re hopeful that Arizona ...

Trump Challenges Biden: Prove Votes Were Not Illegally Obtained to Enter White House

By Janita Kan President Donald Trump said on Friday that Democratic nominee Joe Biden can only enter the White House as the next commander-in-chief if ...

Judge: Republicans Will Likely Win Pennsylvania Election Lawsuit

By Ivan Pentchoukov The judge who ordered Pennsylvania to not certify the results of the 2020 election wrote in an opinion on Friday that the Republicans who filed the ...

Data Scientist: ‘Weird’ Spike in Incomplete Nevada Voter Registrations, Use of ‘Casinos’ as Home Addresses

By Jack Phillips An affidavit filed by Republicans in Nevada, citing a data scientist, shows an allegedly inexplicable jump in voter registrations in the state. The scientist, ...