Economy - USNN World News

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

Economy

How Major US Stock Indexes Fared May 7

by USNN World NewsMay 7, 2025May 7, 2025

NATIONAL NEWS

Whistleblower Saw People in Biden Van Opening, Filling, and Sealing Nevada Ballots, Trump Campaign Claims

By Ivan Pentchoukov The Trump campaign on Sunday described a sworn affidavit from a whistleblower in Nevada who alleges to have witnessed people inside a Biden-Harris van ...

Missouri, Kentucky AGs Join Lawsuit Challenging Pennsylvania Mail-In Ballot Deadline Extension

By Tom Ozimek Attorneys general in Missouri and Kentucky have joined a Republican lawsuit challenging Pennsylvania mail-in ballots before the U.S. Supreme Court, according to multiple reports. A spokesperson for ...

Biden–Trump Margin in Pennsylvania Close to Automatic Recount: Sen. Toomey

By Zachary Stieber The vote margin between Democratic presidential nominee Joe Biden and President Donald Trump in Pennsylvania is close to the threshold that would trigger an ...

Lindsey Graham Urges Trump, Republicans Not to Concede to Biden

By Jack Phillips Sen. Lindsey Graham (R-S.C.), chairman of the Senate Judiciary Committee, called on President Donald Trump not to concede and to “fight hard” in the ...

Philadelphia Ballot Observer Criticizes Transparency of Counting Process

By Charlotte Cuthbertson PHILADELPHIA—Ballot observer Brian McCafferty became so disillusioned with the lack of access he and others were afforded during the ballot-counting process in ...

Arizonians Losing Faith in Integrity of Election Process

By Bowne Xiao PHOENIX—Arizonians have converged almost every night outside the Maricopa County Elections Department after Election Day over what they see as a fraudulent and corrupt ...

Statistical Anomalies in Biden Votes, Analyses Indicate

By Petr Svab With the 2020 elections marred by legal challenges and fraud allegations, some have used statistical analysis to try to determine if foul ...

Michigan Republicans to Probe Voting Software After Counting Error

By Jack Phillips Republicans in Michigan said they are expanding their investigation into Dominion Voting Systems after a county-level counting error switched Republican votes to Democrat last week. “Our ...

Massive Vote Fraud Across U.S. as Trump Decries Attempted Coup

By Alex Newman Reports, videos, and other evidence of rampant and brazen voter fraud from all across the country — especially in jurisdictions controlled by ...

George W. Bush Says Trump Has Right to Pursue Legal Election Cases

By Jack Phillips Former Republican President George W. Bush on Nov. 8 said that President Donald Trump has the “right to request recounts and pursue legal challenges” ...

Trump Campaign Moves to Initiate Wisconsin Recount

By Jack Phillips President Donald Trump’s campaign took steps to seek a recount in Wisconsin on Nov. 7, after several news outlets and Democratic nominee Joe Biden’s campaign ...

Trump Campaign Files Lawsuit Over Rejected Votes in Arizona

By Allen Zhong President Donald Trump’s re-election campaign and the Republican National Committee (RNC) on Saturday filed a lawsuit in Arizona over alleged rejected votes in Maricopa ...