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

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Economy

Moody’s Strips US of Final AAA Rating Over Rising Debt, Interest Costs

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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

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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

Manhunt underway for attacker in Portland truck assault: police

By Stephanie Pagones | Fox News Portland police on Tuesday identified a suspect in Sunday night’s attack on a truck driver who was seen on video being pulled from the ...

Trump: Susan B. Anthony to get posthumous pardon

By Julia Musto | Fox News Anthony was arrested in 1872 for voting illegally and sentenced to pay a fine of $100 and court costs. President Trump announced Tuesday ...

Ted Cruz reacts to DNC opening night, says Dems ‘care more about the woke mob than … working men and women’

By Angelica Stabile | Fox News Senator blasts Dems for ‘not saying a meaningful word about the riots’ in cities across US. The Democratic National Convention is making clear that ...

Michelle Obama’s DNC address fact-checked by AP over ‘distorted’ immigration talking point

By Brian Flood | Fox News Children in ‘cages’ claim is misleading, AP says. The Associated Press fact-checked Michelle Obama’s Democratic National Convention speech after she condemned Trump for using ...

Trump hits back at Michelle Obama after searing DNC speech, says he ‘would not be here’ if not for her husband

By Brooke Singman | Fox News Trump’s tweets come after former first lady slammed the president during first night of the 2020 DNC. President Trump on Tuesday hit ...

CDC: New Mexico has highest rate for alcohol-related deaths

By Associated Press New Mexico’s alcohol-related death rate was almost twice the U.S. rate. According to a recently published report by the federal Centers for Disease ...

Trump knocks Biden for not answering reporters’ questions: ‘He can’t come out of his basement’

By Joshua Nelson | Fox News ‘This guy doesn’t come out of his basement, and he hasn’t taken one question,’ the president says. Presumptive Democratic presidential nominee Joe ...

South Dakota turns down extra $300-a-week unemployment benefits from Trump administration

By Evie Fordham FOXBusiness ‘South Dakota’s economy, having never been shut down, has recovered nearly 80% of our job losses,’ governor says. South Dakota Gov. Kristi Noem ...

Robert Trump: brother of president Donald Trump dies aged 71

By The Guardian Donald Trump’s younger brother, Robert Trump, died on Saturday night aged 71 after being hospitalised in New York, the president said in ...

Group claims to have enough signatures to recall Oklahoma mayor who cut police funding

By Robert Gearty | Fox News Norman Mayor Breaa Clark, a Democrat,says she is focused on doing her job, not losing her job. A group that launched an effort ...

Democratic convention sees party unity mission: Keep ‘resistive’ Bernie Sanders supporters from blowing this

By Paul Steinhauser | Fox News Party wants to avoid replay of 2016 convention discord. For a party that endured a wide-open presidential primary with more than two-dozen candidates ranging from the ...

Trump going to ‘look at’ Edward Snowden case for potential pardon

By Morgan Phillips | Fox News Trump polled his aides Thursday to see whether he should free the anti-surveillance whistleblower. President Trump said he will “look at” the case ...