Economy - USNN World News

Economy

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

by USNN World NewsMay 19, 2025May 19, 2025

Economy

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

by USNN World NewsMay 18, 2025May 18, 2025

Economy

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

by USNN World NewsMay 17, 2025June 4, 2025

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

by USNN World NewsMay 13, 2025May 13, 2025

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

Economy

How Major US Stock Indexes Fared May 7

by USNN World NewsMay 7, 2025May 7, 2025

NATIONAL NEWS

Millennials care less about patriotism, religion and family than previous generations, study says

By Brian Flood | Fox News Millennials don’t value patriotism, family and religion as passionately as previous generations, according to a new survey. “The values that Americans say define the national ...

Sanders campaign co-chair says Biden ‘regretted’ Obama assassination comment

By Andrew O’Reilly | Fox News The co-chair of Bernie Sanders’ election campaign dodged a question on Sunday about former Vice President Joe Biden’s recent gaffes while on the stump by ...

CNN Faces Heat for Hiring Fired FBI Official Andrew McCabe as Contributor

BY JANITA KAN CNN announced on Aug. 23 that fired FBI Deputy Director Andrew McCabe has joined the network as a contributor, a decision that quickly drew backlash ...

Ex-Overstock CEO Patrick Byrne says he got ‘fishy’ orders from Peter Strzok; former acting AG unsure of claims

By Charles Creitz | Fox News Overstock founder and CEO Patrick Byrne, who resigned Thursday amid ties to a government probe related to the 2016 election, claimed he received “fishy” ...

More GSA debauchery: Probe finds ex-official had sex on agency’s roof with White House staffer

By Judson Berger | Fox News The same agency that sparked a firestorm during the Obama administration for lavish spending at a Vegas conference – complete with a widely ...

Moulton ends long-shot White House bid, in latest 2020 Dem drop-out

By Paul Steinhauser | Fox News Rep. Seth Moulton of Massachusetts repeatedly has said he’s not a quitter. But on Friday, the three-term congressman and U.S. Marine veteran who ...

Apple iPhone 7 radiation test prompts FCC investigation: report

By Christopher Carbone | Fox News Apple’s popular iPhone 7 produced radio frequency radiation above the legal limit in a new test, prompting the Federal Communications Commission (FCC) ...

David Koch, billionaire philanthropist and prolific GOP donor, dead at 79

By Paulina Dedaj | Fox News David Koch, the billionaire former executive Vice President of Koch Industries who, along with his brother, was one of the most ...

Federal court undercuts progressive efforts to nullify Electoral College, rules electors can vote freely

By Gregg Re | Fox News In a major blow to state-by-state progressive efforts to effectively replace the Electoral College with a nationwide popular vote, a federal appeals court ...

Jeffrey Epstein had painting of girl lying with tiger at New Mexico home, in latest odd art reveal

By Hollie McKay | Fox News Odd and often creepy details continue to surface in the aftermath of accused sex trafficker Jeffrey Epstein’s suicide, giving a glimpse of the twisted ...

Nikki Haley denies ‘false rumors’ she will replace Pence on GOP ticket in 2020

By Alex Pappas | Fox News Nikki Haley, the former U.S. ambassador to United Nations, on Wednesday denied what she called “false rumors” that she could replace Mike Pence as ...

John Delaney suggests some Dems are ‘cheering on a recession’ to hurt Trump

By Joseph A. Wulfsohn | Fox News Above John Delaney: Some of President Trump’s media critics appear to be rooting for recession. After striking out on Russia ...