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Category: Economy

The US Economy

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
How Major US Stock Indexes Fared May 7
Posted inEconomy

How Major US Stock Indexes Fared May 7

USNN World Newsby USNN World NewsMay 7, 2025May 7, 2025
How Major US Stock Indexes Fared May 6
Posted inEconomy

How Major US Stock Indexes Fared May 6

USNN World Newsby USNN World NewsMay 6, 2025May 6, 2025
Oil Prices Sink After OPEC+ Agrees to Boost Production in June
Posted inEconomy

Oil Prices Sink After OPEC+ Agrees to Boost Production in June

USNN World Newsby USNN World NewsMay 5, 2025May 5, 2025
Market Review S&P 500 and Dow Achieve Nine-Day Rally
Posted inEconomy

Market Review: S&P 500 and Dow Achieve Nine-Day Rally

USNN World Newsby USNN World NewsMay 3, 2025May 3, 2025
Trump Says Americans Should Be Patient After US Economy Contracts
Posted inEconomy

Trump Says Americans Should Be Patient After US Economy Contracts

USNN World Newsby USNN World NewsApril 30, 2025June 5, 2025
US Job Openings Slide to 6-Month Low, Layoffs Fall
Posted inEconomy

US Job Openings Slide to 6-Month Low, Layoffs Fall

USNN World Newsby USNN World NewsApril 29, 2025April 29, 2025
US Homeownership Rate Falls to Lowest Level in 5 Years
Posted inEconomy

US Homeownership Rate Falls to Lowest Level in 5 Years

USNN World Newsby USNN World NewsApril 29, 2025April 29, 2025

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Newer posts 1 … 9 10 11 12 13 … 102 Older posts

NATIONAL NEWS

  • State Legal Bureau Claims Democrats Don’t Control Pennsylvania HouseState Legal Bureau Claims Democrats Don’t Control Pennsylvania House
    By Joe Gomez Democrats claim to hold power in the narrowly divided Pennsylvania House of Representatives, but a legislative agency in the state has given an opinion to ...
  • Senator Kyrsten Sinema Quits Democrat Party in Senate ShakeupSenator Kyrsten Sinema Quits Democrat Party in Senate Shakeup
    By Tom Ozimek Arizona Sen. Kyrsten Sinema announced Friday that she has left the Democratic Party and has registered as an independent, saying she’s turning her back on ...
  • Kari Lake Reveals When Election-Related Lawsuit Will Be FiledKari Lake Reveals When Election-Related Lawsuit Will Be Filed
    By Jack Phillips Republican Arizona candidate Kari Lake indicated that she will attempt to take her election-related lawsuit to the U.S. Supreme Court if necessary after Arizona officials ...
  • Google, Oracle, Amazon, and Microsoft Awarded $9 Billion Cloud Deals: PentagonGoogle, Oracle, Amazon, and Microsoft Awarded $9 Billion Cloud Deals: Pentagon
    By Katabella Roberts Amazon, Google, Microsoft, and Oracle have been awarded lucrative cloud contracts valued at up to $9 billion in total, the U.S. Department of Defense (DoD) ...
  • 23 House Seats Flipped During 2022 Midterm Elections23 House Seats Flipped During 2022 Midterm Elections
    By Patricia Tolson A total of 23 seats in Congress flipped political parties during the 2022 midterm elections, data shows. Of the 23 seats that switched political ...
  • Local Nonprofit Raises Over $3 Million For Newport Beach Animal ShelterLocal Nonprofit Raises Over $3 Million For Newport Beach Animal Shelter
    By Carol Cassis A new Newport Beach animal shelter will open next spring thanks to the fundraising efforts by the Friends of Newport Beach Animal ...
  • Homeland Security: Deadline for Real IDs Extended Until 2025Homeland Security: Deadline for Real IDs Extended Until 2025
    By Micaela Ricaforte The U.S. Department of Homeland Security (DHS) is pushing the deadline for Real IDs by two years, meaning Americans will have until ...
  • Democrats Reject GOP Request for More Information on US Postal Service Surveillance of Conservatives, Gun Rights AdvocatesDemocrats Reject GOP Request for More Information on US Postal Service Surveillance of Conservatives, Gun Rights Advocates
    By Katabella Roberts House Democrats on Tuesday rejected a request from Republican lawmakers to gather more information about the alleged surveillance of conservatives and gun rights advocates by the U.S. Postal Service. The ...
  • Warnock Defeats Walker in Hard-Fought Georgia Senate Runoff ElectionWarnock Defeats Walker in Hard-Fought Georgia Senate Runoff Election
    Dan M. Berger Sen. Raphael Warnock (D-Ga.) won reelection late Tuesday evening in Georgia’s Senate runoff—a victory that will give the Democrats a 51–49 margin in the ...
  • Supreme Court Weighs on Brunson v. Alma Case That Could Overturn 2020 ElectionSupreme Court Weighs on Brunson v. Alma Case That Could Overturn 2020 Election
    By Joshua Philipp The U.S. Supreme Court will decide whether it will take up a case that could overturn the 2020 elections and make representatives ...
  • White House Breaks Silence on ‘Twittergate’ Censorship RevelationsWhite House Breaks Silence on ‘Twittergate’ Censorship Revelations
    By Tom Ozimek The White House has broken its silence on Elon Musk’s stunning release of internal Twitter communications that shed light on the inner workings of ...
  • IRS Issues Another Tax Warning to Americans Who Made More Than $600 OnlineIRS Issues Another Tax Warning to Americans Who Made More Than $600 Online
    By Jack Phillips Independent contractors who made money via online services will have their income reported to the Internal Revenue Service (IRS) starting in 2023, ...
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