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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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

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Economy

The Fed Fears Inflation While Ignoring Deflation

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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

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Economy

Market Review: Stocks Retreat on Fed Caution and Trade Uncertainty

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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

Former GOP presidential candidate Herman Cain dies at 74 from coronavirus complications

By Ronn Blitzer | Fox News Cain, 74, first went to an Atlanta hospital for treatment on July 1. Herman Cain, the former Republican presidential candidate and affable business ...

Virginia newspaper calls out local leaders after Richmond riots: ‘Enough is enough’

By Talia Kaplan | Fox News An editorial in the Richmond Times-Dispatch urged elected officials to ‘show some leadership’. A Virginia newspaper called out local leaders on Monday after a ...

New York Post columnist describes NYC as ‘disaster area,’ predicts many who have left won’t return

By Joshua Nelson | Fox News America’s largest city has seen increases in crime, homelessness in recent months. New York Post opinion columnist Karol Markowicz told “Fox & ...

Rep. Doug Collins: Why do Dems support anarchist activity over law and order?

By Julia Musto | Fox News The Georgia Republican congressman says Dems have ‘an obsession’ with attacking Trump and now Barr. Democrats hellbent on attacking Attorney General William Barr and President Trump need ...

These states would lose House seats under Trump Census order

By Ronn Blitzer | Fox News Three states would likely lose seats in the House of Representatives if President Trump’s order stands to exclude illegal immigrants from the apportionment process ...

US attorney blasts Portland officials’ ‘nonsensical’ ban keeping police from joining fed officers

By Tyler Olson | Fox News U.S. Attorney Billy Williams ripped the Portland ban on police working with feds. Oregon’s U.S. Attorney Billy J. Williams told The Oregonian over the ...

Cruz accuses Democrats of coordinated effort to keep schools, businesses closed to hurt Trump

By Gregg Re | Fox News Teachers’ unions have sought to defund the police, tax the rich before reopening. Texas Republican Sen. Ted Cruz on Sunday accused Democrats of deliberately ...

American protests: Demonstrations, violent riots expected to continue throughout the country

By Stephen Sorace | Fox News Tensions have heightened since federal officials were sent to quell riots in Portland, Oregon. Several cities across America are bracing for more demonstrations and ...

Louisville protests descend into chaos when armed protester accidentally shoots members of his group, injuring 3

By Vandana Rambaran | Fox News Three people were injured in Baxter Square Park, police said. Gunshots erupted during a planned protest in Louisville, Ky., Saturday and three members of ...

Washington Post settles Nicholas Sandmann defamation lawsuit in Covington Catholic High School controversy

By Joseph A. Wulfsohn | Fox News ‘I turned 18 & WaPo settled my lawsuit,’ Sandmann announced on Twitter. The Washington Post is the latest news organization to ...

More than 2,000 Portland demonstrators take to street for 57th night in a row, clash with feds

By Stephanie Pagones | Fox News Police say crowd threw Molotov cocktails, lit fires in a park and in trash cans. More than 2,000 people flooded downtown Portland overnight during the ...

Most Chicago homicide victims over the past decade are Black, police data show

By Louis Casiano, Stephanie Pagones | Fox News The Trump administration is planning to deploy federal agents to the city. As gun violence in Chicago increased exponentially over the past decade, African ...