Economy - USNN World News

Economy

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

by USNN World NewsMay 21, 2025May 21, 2025

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

NATIONAL NEWS

Missouri Walmart threat suspect ID’d by police, mugshot released

Police in Missouri identified the armed suspect that entered a Springfield Walmart on Thursday as 20-year-old Dmitriy Nickolayvich Andreychenko, who was reportedly stopped at gunpoint by an off-duty firefighter before ...

Man wrongly outed as Trump donor by Castro, forced to go over ‘situational awareness’ with wife, kids

By David Montanaro | Fox News A San Antonio man was wrongly outed on Twitter as a donor to President Trump by Democratic Rep. Joaquin Castro and said Friday the incident ...

Trump unloads on Biden: ‘Joe is not playing with a full deck’

By Adam Shaw | Fox News President Trump on Friday unloaded into Democratic 2020 frontrunner Joe Biden, saying he would be “thrilled” if the former vice president was his ...

Trump 2020 spokeswoman: Joaquin Castro’s doxxing only emboldened Trump donors

By Nick Givas | Fox News Trump campaign spokeswoman Kayleigh McEnany said Rep. Joaquin Castro’s, D-Texas, doxxing of the presidential donors has only fueled the fire, and inspired more people to ...

GOP goes to war with Twitter over McConnell campaign account freeze

By Ronn Blitzer | Fox News Republicans are going to war with Twitter after the platform froze the Mitch McConnell re-election account this week because the campaign posted a ...

Trump: Democrats Cry Racism Every Time ‘They Are Down or Run Out of Facts’

BY ZACHARY STIEBER President Donald Trump said that Democrats call people racist any time they can’t rebut the ideas people are putting forward. “The Dems new weapon is ...

Google Will ‘Actively Interfere’ in 2020 Elections, Researcher Says

BY BOWEN XIAO A researcher who has spent more than half a decade monitoring Google’s influence said he believes the tech giant will “actively interfere” in the ...

Trump Criticizes Ohio Democrats for ‘Misrepresenting’ Visit at Dayton Hospital

BY JANITA KAN President Donald Trump has criticized two Ohio Democrats who accompanied him during his visit at a Dayton hospital to meet with first responders and ...

Steve Ronnebeck, Whose Son Was Murdered by an Illegal Immigrant, Kicks Off Race for Congress Seat

BY ZACHARY STIEBER Steve Ronnebeck, whose son was shot dead by an illegal immigrant, kicked off the race for an Arizona Congressional seat this week, about two weeks ...

President and First Lady Visit Victims and Thank First Responders at Dayton Hospital

BY IVAN PENTCHOUKOV President Donald Trump and First Lady Melania Trump on Aug. 7 met with victims and thanked first responders and hospital staff at a Dayton hospital ...

Trump Notes Dayton Shooter Had History of Supporting Antifa, Elizabeth Warren

BY ZACHARY STIEBER President Donald Trump noted that the alleged Dayton, Ohio, shooter expressed support for Sens. Elizabeth Warren (D-Mass.) and Bernie Sanders (I-Vt.) in addition ...

Conservatives Mobilize Against Republicans Supporting ‘Red Flag’ Gun Confiscation Law

BY PATRICK HOWLEY Pro-gun activists are launching a nationwide pressure campaign to stop a proposed “red flag” bill announced in the U.S. Congress by Sens. Lindsey ...