Economy - USNN World News

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

Economy

How Major US Stock Indexes Fared May 6

by USNN World NewsMay 6, 2025May 6, 2025

Economy

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

by USNN World NewsMay 5, 2025May 5, 2025

Economy

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

by USNN World NewsMay 3, 2025May 3, 2025

Economy

Trump Says Americans Should Be Patient After US Economy Contracts

by USNN World NewsApril 30, 2025June 5, 2025

Economy

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

by USNN World NewsApril 29, 2025April 29, 2025

Economy

US Homeownership Rate Falls to Lowest Level in 5 Years

by USNN World NewsApril 29, 2025April 29, 2025

U.S. stocks drifted to a mixed, quiet finish Monday ahead of a week with several potential flashpoints that could bring more sharp swings for financial markets. Later this week will come earnings reports from some of Wall Street’s most influential companies, including Amazon, Apple, Meta Platforms and Microsoft. Reports will also show how the U.S. economy performed during the first three months of the year and how many workers employers hired during April. On Monday: The S&P 500 rose 3.54 points, or 0.1 percent, to 5,528.75. The Dow Jones Industrial Average rose 114.09 points, or 0.3 percent, to 40,227.59. The Nasdaq composite fell 16.81 points, or 0.1 percent, to 17,366.13. The Russell 2000 index of smaller companies rose 7.93 points, or 0.4 percent, to 1,965.55. For the year: The S&P 500 is down 352.88 points, or 6 percent. The Dow is down 2,316.63 points, or 5.4 percent. The Nasdaq is down 1,944.66, or 10 percent. The Russell 2000 is down 264.61 points, or 11.9 percent. The views and opinions expressed are those of the authors. They are meant for general informational purposes only and should not be construed or interpreted as a recommendation or solicitation. The Epoch Times does not provide investment, tax, legal, financial planning, estate planning, or any other personal finance advice. The Epoch Times holds no liability for the accuracy or timeliness of the information provided.

Economy

How Major US Stock Indexes Fared April 28

by USNN World NewsApril 28, 2025April 28, 2025

Economy

New Oil Drilling Permits in California Drop 97 Percent in 5 Years: What to Know

by USNN World NewsApril 27, 2025April 27, 2025

NATIONAL NEWS

Hillary Clinton Approved Giving Trump-Russia Allegations to Reporter: Testimony

By John Haughey and Zachary Stieber WASHINGTON—Hillary Clinton greenlighted the plan to give allegations against Donald Trump to a reporter ahead of the 2016 election, Clinton’s campaign manager testified ...

Florida Court Overturns Ruling on DeSantis Redistricting Map

By Caden Pearson A Florida appeals court ruled Friday to reinstate a redrawn congressional map that Gov. Ron DeSantis proposed ahead of the 2022 midterm elections after ...

Trump Lawyers Demand Intelligence Agencies Punish Ex-employees Who Claimed Russians Were Behind Hunter Biden Laptop

By Zachary Stieber The former employees at the CIA and other U.S. intelligence agencies should be punished for claiming stories about emails on a computer belonging to ...

Elon Musk Calls ESG ‘A Scam’ After S&P Index Drops Tesla

By Nathan Worcester Elon Musk called the environmental, social, and governance (ESG) scoring “a scam” in a series of Twitter posts on May 18, citing S&P ...

‘My Son Hunter’ Movie Producer Says Hunter Biden’s Attorney Infiltrated His Film Set

By Frank Fang and David Zhang Phelim McAleer, a producer of the upcoming independent movie “My Son Hunter” exposing alleged corruption in the Biden family, ...

New York Times Falsely Reports Thousands of Children Have Died From COVID-Linked Syndrome

By Zachary Stieber The New York Times on May 19 falsely reported that thousands of children have died during the pandemic from multisystem inflammatory syndrome in children ...

Judge Denies Former Clinton Lawyer’s Request for Mistrial

By John Haughey and Zachary Stieber WASHINGTON—A federal judge on May 19 denied a request for a mistrial from the former Hillary Clinton campaign lawyer who is on trial for ...

Florida Gov. DeSantis: Biden Should Get ‘Honorary Membership’ With Mexican Cartels

By Jay Clemons Florida Gov. Ron DeSantis criticized the Biden White House on multiple fronts Wednesday, taking aim at President Joe Biden’s “bad policies” with ...

Border Patrol Union Leader Warns ‘Complete Control’ by Cartels Once Title 42 Ends

By Rita Li The head of the Border Patrol union warned that drug cartels would seize “complete control” of the southern border, as a Trump-era public health ...

White House’s Disinformation Board ‘Paused’ as Its Leader Submits Resignation

By Jack Phillips Work on the Biden administration’s controversial Disinformation Governance Board was paused about three weeks after it was announced by the Department of ...

Blinken Announces $215 Million for Global Emergency Aid to Ease Food Shortages

By Naveen Athrappully Secretary of State Antony Blinken announced Wednesday that the United States will be offering $215 million in emergency assistance to ease worldwide ...

Elon Musk Suggests Biden Isn’t the ‘Real’ President

By Jack Phillips Billionaire Elon Musk took a shot at President Joe Biden on Monday and questioned whether he is actually in charge. During a podcast interview, Musk, the head ...