USNN World News

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

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

NATIONAL NEWS

Trump’s attempt to hire Trey Gowdy for legal team unravels over post-Congress restrictions

By Mike Emanuel, John Roberts, Alex Pappas | Fox News President Trump’s attempt to hire former South Carolina Rep. Trey Gowdy for his legal team as he battles House Democrats over ...

Steve Hilton: The real Ukraine scandal is US cash for gas — It involves the Bidens and a growing list of Dems

By Steve Hilton | Fox News Joe Biden hit back at allegations over his son, Hunter, saying there was nothing corrupt about the firing of that Ukrainian prosecutor. But that ...

Republican Rep. Matt Gaetz kicked out of impeachment inquiry hearing

By Andrew O’Reilly | Fox News Rep. Matt Gaetz, R-Fla., an ardent supporter of President Trump, got the boot on Monday when he tried to sit in on ...

Rand Paul calls for investigation of Dem senators, says they threatened Ukraine aid during Mueller probe

By Nick Givas | Fox News An official investigation should be launched into three Democratic senators who threatened to withhold federal aid to Ukraine if the country’s prosecutor general didn’t assist ...

Bernie Sanders slams Elizabeth Warren as ‘capitalist’

By Alex Pappas | Fox News Vermont Sen. Bernie Sanders – the self-proclaimed Democratic socialist whose standing in the 2020 primary has become threatened by Massachusetts Sen. Elizabeth Warren’s surge in ...

Schiff admits he should have been ‘much more clear’ about contact with whistleblower

By Andrew O’Reilly | Fox News House Intelligence Committee Chairman Adam Schiff, D-Calif., admitted on Sunday that he should have been clearer about his contact with the whistleblower who filed ...

Republicans accuse Cummings of violating bipartisan agreement with ‘abusive’ DHS subpoenas

By Ronn Blitzer | Fox News Republican leaders claim that House Oversight Committee Chairman Elijah Cummings, D-Md., is violating an agreement between their parties after the Democrat subpoenaed ...

Collins: Schiff wants interviews kept secret because Dems ‘can’t win this in the public eye’

By Ronn Blitzer | Fox News House committees are expected to continue their series of closed-door transcribed interviews as part of their impeachment-related investigation of President Trump ...

Louisiana election heads to runoff with Democrat Edwards to face GOP’s Rispone

By Vandana Rambaran | Fox News Louisiana’s Democratic governor, John Bel Edwards, will have to face a runoff election in November as he failed to garner at least ...

Trump says Obama ‘hiding’ from questions about Bidens and Ukraine: ‘I think he knows all about it’

By Melissa Leon | Fox News Former President Barack Obama has been hiding from questions about former Vice President Joe Biden, his son Hunter and Hunter’s work for a gas company ...

Rose McGowan rips Hillary Clinton over ties to ‘predators’ Bill Clinton, Harvey Weinstein

By Brie Stimson | Fox News Rose McGowan called out Hillary Clinton last week over a report that Clinton’s publicist told journalist Ronan Farrow that his investigation into Harvey Weinstein’s alleged ...

‘Hunter Biden’ a topic CNN, NBC, MSNBC don’t seem to like, law professor says

By Dom Calicchio | Fox News Want to watch a left-leaning TV journalist quickly change the subject? Just mention Hunter Biden, son of former Vice President Joe Biden. “For ...