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

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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

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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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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

by USNN World NewsMay 8, 2025May 12, 2025

NATIONAL NEWS

GOP Strategist Says Washington Post WH Bureau Chief ‘Burned’ Trump’s Ousted Secretary by Revealing Off-the-Record Conversation

BY VENUS UPADHAYAYA Arthur Schwartz, a GOP Strategist, has alleged that The Washington Post’s White House bureau chief Philip Rucker leaked off-the-record conversations with President Donald Trump’s ...

Trump: ‘Enjoy the low gas prices over the Labor Day weekend!’

By FOX Business If you’re hitting the road this holiday weekend, President Trump claims you have him to thank for lower prices at the pump. In a tweet ...

Texas shooting leaves 7 dead, 19 injured; suspect dead

By Melissa Leon | Fox News The random shooting rampage in West Texas Saturday left seven dead, police said Sunday. Odessa police spokesman Steve LeSueur said Sunday that ...

Trump’s personal assistant resigns from White House amid tensions

By Louis Casiano | Fox News A personal assistant to President Trump who had been with the administration since Trump took office, Madeleine Westerhout, abruptly resigned Thursday, reportedly after it was determined she shared private ...

Dead birds in Massachusetts town prompt concerns they’re infected with deadly virus

By Madeline Farber | Fox News Dead birds and seagulls spotted in the town of Fairhaven, Mass., have raised concerns among residents that the animals are infected ...

MSNBC’s O’Donnell retracts Trump-Russia story, apologizes; Florida in Dorian’s crosshairs

By Fox News MSNBC’s O’Donnell retracts unverified Trump-Russia story, makes on-air apology MSNBC host Lawrence O’Donnell on Wednesday night retracted a story that directly tied President ...

Trump mocks Kirsten Gillibrand as she exits 2020 race: ‘She was the one I was really afraid of’

By Joseph A. Wulfsohn | Fox News President Trump had some fun at the expense of Sen. Kirsten Gillibrand, D-N.Y., after she announced on Tuesday that she was withdrawing ...

Heritage Foundation bewildered by Biden claim about Trump tax cuts

By Gregg Re, Patrick Ward | Fox News The conservative Heritage Foundation reacted with bewilderment on Wednesday after Joe Biden claimed that the think tank had condemned the 2017 Trump-GOP ...

Ilhan Omar issues terse denial on allegations of affair with married DC consultant

By Ronn Blitzer | Fox News Minnesota Democratic Rep. Ilhan Omar is denying allegations of an affair with a married Washington, D.C., consultant. The accusations emerged earlier this week in a ...

Trump demands apology from NBC News over ‘false and defamatory’ report, threatens legal action in scorching letter

By Brian Flood | Fox News President Trump’s legal team sent a harshly worded letter to NBC Wednesday demanding an apology and retraction for “false and defamatory, and extremely damaging” ...

AOC suggests ‘informed’ millennials are first generation to protest government, forgets about the ‘60s

By Ronn Blitzer | Fox News Rep. Alexandria Ocasio-Cortez made some bold claims in her latest Instagram Live video, suggesting millennials and Generation Z are better “informed” and more well-versed ...

Winter to feature ‘Polar Coaster’ mix of frigid temperatures, snow: Farmers’ Almanac

By Travis Fedschun | Fox News Enjoy the last days of summer, because a wild ride apparently is in store this winter. The Farmers’ Almanac is predicting that “bitterly cold ...