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Category: Economy

The US Economy

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

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

USNN World Newsby USNN World NewsMay 21, 2025May 21, 2025
New Vehicle Inventory in April Declines, Affordability Worsens: Cox Automotive Analysis
Posted inEconomy

New Vehicle Inventory in April Declines, Affordability Worsens: Cox Automotive Analysis

USNN World Newsby USNN World NewsMay 19, 2025May 19, 2025
Market Review: Stocks Roar Back in 5-Day Winning Streak
Posted inEconomy

Market Review: Stocks Roar Back in 5-Day Winning Streak

USNN World Newsby USNN World NewsMay 18, 2025May 18, 2025
Moody’s Strips US of Final AAA Rating Over Rising Debt, Interest Costs
Posted inEconomy

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

USNN World Newsby USNN World NewsMay 17, 2025June 4, 2025
US Pending Home Sales Dip By 3.4 Percent to ‘Lowest Level on Record’: Report
Posted inEconomy

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

USNN World Newsby USNN World NewsMay 15, 2025May 15, 2025
The Fed Fears Inflation While Ignoring Deflation
Posted inEconomy

The Fed Fears Inflation While Ignoring Deflation

USNN World Newsby USNN World NewsMay 14, 2025May 14, 2025
Student Loan Delinquencies Soar as Pandemic-Era Protections Expire
Posted inEconomy

Student Loan Delinquencies Soar as Pandemic-Era Protections Expire

USNN World Newsby USNN World NewsMay 13, 2025May 13, 2025
US Inflation Slows to Lowest Level Since February 2021
Posted inEconomy

US Inflation Slows to Lowest Level Since February 2021

USNN World Newsby USNN World NewsMay 13, 2025May 13, 2025
Markets Rally After US, China Announce 90-day Tariff Reductions
Posted inEconomy

Markets Rally After US, China Announce 90-day Tariff Reductions

USNN World Newsby USNN World NewsMay 12, 2025May 12, 2025
Market Review: Stocks Retreat on Fed Caution and Trade Uncertainty
Posted inEconomy

Market Review: Stocks Retreat on Fed Caution and Trade Uncertainty

USNN World Newsby 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.”
Posted inEconomy

Panasonic Announces 10,000 Layoffs Worldwide

USNN World Newsby USNN World NewsMay 9, 2025May 9, 2025
Cox Automotive Says Tariffs Impacted Wholesale Used Car Prices in April
Posted inEconomy

Cox Automotive Says Tariffs Impacted Wholesale Used Car Prices in April

USNN World Newsby USNN World NewsMay 8, 2025May 12, 2025

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NATIONAL NEWS

  • Sen. Kennedy defends calling Pelosi ‘dumb,’ says impeachment is rigged like pro wrestling ‘Smackdown’Sen. Kennedy defends calling Pelosi 'dumb,' says impeachment is rigged like pro wrestling 'Smackdown'
    By Julia Musto | Fox News A partisan impeachment with a “rigged” outcome will be bad for America, Louisiana Sen. John Kennedy said Friday, defending the comments he made at a Trump ...
  • Mark Meadows caught MSNBC’s anti-GOP bias ‘in real time,’ Charlie Kirk saysMark Meadows caught MSNBC's anti-GOP bias 'in real time,' Charlie Kirk says
    By Charles Creitz | Fox News Turning Point USA founder Charlie Kirk praised Rep. Mark Meadows, R-N.C., on Friday, after Meadows interrupted an MSNBC reporter on the air to defend ...
  • Nikki Haley says Trump does not deserve ‘death penalty’ impeachment proceedingsNikki Haley says Trump does not deserve 'death penalty' impeachment proceedings
    By Danielle Wallace | Fox News Former U.N. Ambassador Nikki Haley says she does not believe President Trump will be impeached or removed from office, adding that her former boss does not deserve what ...
  • Nunes demands Schiff testify in private as part of House impeachment inquiryNunes demands Schiff testify in private as part of House impeachment inquiry
    By Brooke Singman | Fox News EXCLUSIVE: The top Republican on the House Intelligence Committee has formally requested that the panel’s chairman, Rep. Adam Schiff, D-Calif., testify in a ...
  • CRAFT BREWERY PRINTS “EPSTEIN DIDN’T KILL HIMSELF” UNDER CANSCRAFT BREWERY PRINTS “EPSTEIN DIDN’T KILL HIMSELF” UNDER CANS
    By Adan Salazar A microbrewery in California has introduced a craft beer with the message “Jeffrey Epstein Didn’t Kill Himself” printed on the bottom of ...
  • Report: Fox News’ Management Tells Staff Not to Mention Whistleblower’s NameReport: Fox News’ Management Tells Staff Not to Mention Whistleblower’s Name
    By Jack Phillips A report claims that Fox News’ management has forbidden network hosts to use the name of the alleged whistleblower at the center ...
  • Mulvaney Doesn’t Comply With House Impeachment Probe: ReportsMulvaney Doesn’t Comply With House Impeachment Probe: Reports
    By Jack Phillips Acting White House Chief of Staff Mick Mulvaney refused to comply with the closed-door subpoena amid a House impeachment inquiry, according to ...
  • John Bolton Has New Information on Ukraine Inquiry, Lawyer SaysJohn Bolton Has New Information on Ukraine Inquiry, Lawyer Says
    By Jack Phillips President Donald Trump’s former national security adviser John Bolton has new details about conversations and meetings related to the impeachment inquiry into Trump, his ...
  • Yovanovitch communicated with Dem staffer on ‘delicate’ issue after complaint, emails show, despite testimonyYovanovitch communicated with Dem staffer on 'delicate' issue after complaint, emails show, despite testimony
    By Gregg Re | Fox News EXCLUSIVE: Former U.S. Ambassador to Ukraine Marie Yovanovitch, a key witness in House Democrats’ impeachment inquiry, communicated via her personal email account with a ...
  • Jim Jordan assigned to Intel Committee ahead of Trump impeachment hearingsJim Jordan assigned to Intel Committee ahead of Trump impeachment hearings
    By Brooke Singman, Chad Pergram | Fox News House Oversight Committee Ranking Member Jim Jordan has been assigned by Republican leadership to serve on the House Intelligence Committee so he ...
  • Hunter Biden’s questionable past and business dealings could undo dad’s bid for White HouseHunter Biden's questionable past and business dealings could undo dad's bid for White House
    By Barnini Chakraborty | Fox News Democratic front-runner Joe Biden has survived a series of poor debates, weathered criticism that he is out of touch and gaffe prone to ...
  • White House press secretary reacts to John Bolton skipping Trump impeachment depositionWhite House press secretary reacts to John Bolton skipping Trump impeachment deposition
    By Victor Garcia | Fox News White House Press Secretary Stephanie Grisham responded Thursday to former National Security Adviser John Bolton skipping a Trump impeachment inquiry deposition, saying that executive privilege ...
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