Economy - USNN World News

Economy

Senate Passes ‘No Tax on Tips Act’ in Unanimous Vote

by USNN World NewsMay 21, 2025May 21, 2025

Economy

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Economy

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US Pending Home Sales Dip By 3.4 Percent to ‘Lowest Level on Record’: Report

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The Fed Fears Inflation While Ignoring Deflation

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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

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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

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NATIONAL NEWS

Biden walks back African American ‘diversity’ remarks, lauds community’s ‘diversity of thought’

By Joseph A. Wulfsohn | Fox News ‘In no way did I mean to suggest the African American community is a monolith,’ ex-VP says. Presumptive Democratic presidential nominee Joe Biden attempted ...

Trump claims Biden ‘no longer worthy of the Black Vote’ in wake of diversity comment

By Brooke Singman | Fox News ‘Sleepy Joe Biden just lost the Black Vote,’ Trump first said in a now-deleted tweet. President Trump on Friday said his presumptive ...

NRA fights back, files its own suit against NY attorney general seeking to disband organization

By Stephanie Pagones | Fox News President Trump slammed AG Letitia James’ suit against the group, calling it ‘a very terrible thing’. The National Rifle Association is fighting back against ...

Washington Post issues major correction after botching Trump-Twitter post

By Joseph A. Wulfsohn | Fox News The Washington Post sparked massive confusion Wednesday evening after erroneously reporting that President Trump was banned from tweeting because of a claim he ...

Cities go to extremes with quarantine crackdowns: Checkpoints, power shutoffs, steep fines

By Tyler Olson | Fox News Some travelers will be stopped in NYC. The interstate in Chicago has signs warning about quarantine requirements. With the daily number of coronavirus cases ...

Pelosi blasts Trump for saying he may deliver convention speech from White House: ‘He can’t do that’

By Megan Henney | Fox News She questioned whether the move was ‘legally wrong’ or ‘ethically out of the question’. House Speaker Nancy Pelosi slammed President Trump for suggesting that ...

Trump downplays Republican concerns about giving nomination acceptance at White House: ‘It is legal, there is no Hatch Act’

By Morgan Phillips | Fox News President Trump played down fears from a Republican senator that him giving his speech accepting the Republican nomination from the White House ...

Trump rips athletes kneeling for anthem, calls Black Lives Matter a ‘Marxist group’

By Joshua Nelson | Fox News ‘They’re not looking for good things for our country,’ he said. President Trump called Black Lives Matter a Marxist group on Wednesday, pushing ...

Carolyn Maloney declared winner in New York congressional race marred by mail-in ballot problems

By By Gregg Re | Fox News Trump had called for a do-over in the contest, calling it a ‘total disaster’. Election officials in New York finally declared winners late ...

DB Cooper case gets new clues in tiny algae found on ransom money, study says

By Chris Ciaccia | Fox News In a cold case for nearly 50 years ago, a scientist has uncovered new clues in the D.B. Cooper case by ...

CNN’s Brian Stelter ridiculed for claiming ‘right-wing media tempest’ is behind push for Biden not to debate Trump

By Joseph A. Wulfsohn, Brian Flood | Fox News Suggestion Biden should not debate came in CNN, NYT op-eds. CNN media pundit Brian Stelter raised eyebrows On Monday night after he said ...

NYC crime spree knocks on the doorsteps of America’s ultra-rich

By Stephanie Pagones | Fox News New York City’s Upper East Side is seeing a ‘significant uptick’ in robberies, police say. A portion of New York City’s Upper East Side, which reportedly ...