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

Fed’s Powell urges more federal stimulus to help economy recover from coronavirus pandemic

By Megan Henney FOXBusiness Powell said the recovery will be ‘strong and move faster’ if Congress provides more stimulus. Federal Reserve Chairman Jerome Powell urged lawmakers to provide the pandemic-stricken economy ...

24 potential ‘superhabitable’ planets discovered close to Earth

By Chris Ciaccia | Fox News The planets, which may have conditions suited to host life, could be older, warmer, larger and wetter than Earth. Earth may be ...

Judge attacked by ‘anti-feminist’ describes horrifying attack that injured her husband, killed her son

By Stephanie Pagones | Fox News US District Court Judge Esther Salas spoke about steps she’s taking to ensure her son will never be forgotten. The New Jersey ...

Another sexually-charged allegation against Democratic senator candidate emerges as he drops out of town hall event

By Evie Fordham | Fox News All eyes are on North Carolina Senate candidate after he pulled out of a town hall event. Republican Sen. Thom Tillis of North Carolina said his Democratic challenger Cal ...

Biden suggests people were able to quarantine because ‘some Black woman was able to stack the grocery shelf’ in viral clip

By Joseph A. Wulfsohn | Fox News Critics blasted the Democratic nominee on social media. Joe Biden has landed in hot water over a viral clip of him suggesting why ...

NBC News town hall raises concerns as critics question makeup of ‘undecided’ voters in audience

By Joseph A. Wulfsohn | Fox News ‘Can’t blame him for doing it,’ Politico reporter Marc Caputo said. NBC’s town hall featuring Joe Biden did not receive the warmest reception ...

Whitmer slams Michigan high court striking down emergency COVID orders

By Evie Fordham | Fox News Whitmer faced protests for her lockdown orders. Michigan Gov. Gretchen Whitmer railed against the state Supreme Court’s decision to strike down her orders to extend ...

Texas Gov. Greg Abbott says new criminal allegations against AG Ken Paxton ‘raise serious concerns’

By Megan Henney | Fox News Charges were made by members of the attorney general’s office. Top Texas Republicans are expressing concerns over new allegations that the Lone Star State’s ...

California city flag stolen, replaced by Trump campaign banner

By David Aaro | Fox News Police are working on identifying those responsible. Police on Sunday were investigating a theft of a city of Long Beach flag that was reportedly ...

Trump pledges ‘biggest tax cut ever’ if he wins in November

By Megan Henney FOXBusiness President Trump vowed to continue lowering taxes if he defeats Democratic challenger Joe Biden on Nov. 3, tweeting from the Walter Reed National Medical Center on ...

Trump sees approval rating increase, majority expect him to beat Biden: poll

By Sam Dorman | Fox News The poll was conducted in the two weeks before the first presidential debate. A poll conducted in the lead-up to Tuesday’s presidential debate showed ...

Trump ‘doing very well’ and has no difficulty breathing, medical team says

By Adam Shaw | Fox News President Trump is “doing very well” and has no difficulty breathing, his medical team said Saturday — the morning after he was transferred ...