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

Hannity calls Dems ‘dirtbags,’ says Trump won’t be removed from office

By Victor Garcia | Fox News Sean Hannity ripped Democrats Friday, calling them “dirtbags,” and declared that President Trump would not be removed from office despite efforts by Democrats to ...

Former George W. Bush aide calls impeachment ‘a fool’s errand being pushed by fools’

By Charles Creitz | Fox News An impeachment inquiry into President Trump is a foolish endeavor that will likely backfire on the Democratic Party, according to Ned Ryun. Ryun, a ...

Andrew Cuomo says ‘leftist’ Dems pressured Pelosi on impeachment, warns it will go ‘nowhere’

By Adam Shaw | Fox News New York Gov. Andrew Cuomo on Thursday said that “leftist” Democrats pressured House Speaker Nancy Pelosi into launching the impeachment inquiry into President Trump, ...

Newt Gingrich blasts Pelosi’s impeachment push: ‘All political…will have no effect’ on Trump’s agenda

By Matt London | Fox News Newt Gingrich dismissed House Speaker Nancy Pelosi’s D-Cali., announcement of an “official” impeachment inquiry of President Donald Trump, calling it “all political” and ...

Judge Pirro blasts Democrats’ impeachment inquiry: ‘This is a setup’

By David Montanaro | Fox News Fox News host Judge Jeanine Pirro said Friday that the explosive whistleblower complaint that has led to an impeachment inquiry against President Trump “was a ...

BREAKING: Solomon Bombshell — Ukrainian Prosecutor Shokin Details BIDEN’S SHAKEDOWN — WILL LIKELY END BIDEN CAMPAIGN!

By Paul Martin, Jim HoftTheGatewayPundit.com Investigative journalist John Solomon told Sean Hannity on Wednesday night that he has over 400 pages of documents that ...

The New York Times mocked for ‘Star Wars’ themed, anti-Trump video

By Brian Flood | Fox News The New York Times was lampooned on social media Thursday for tweeting a “Star Wars”-style video declaring that President Trump “has launched a fresh assault on ...

Tucker Carlson: Ukraine story shows Dems are so obsessed with Trump, they’re destroying themselves – and Biden

By Tucker Carlson | Fox News One of the most bewildering facts of our current moment is how quickly everything moves. For example, remember the latest New York Times hit piece ...

Kellyanne Conway blasts Ukraine call ‘leaker’: ‘I hope you’re watching’

By Charles Creitz | Fox News White House counselor Kellyanne Conway has taken aim at the unnamed “leaker” who raised concerns about President Trump’s phone call with Ukrainian leader Volodymyr ...

Republicans want whistleblower’s sources, as inconsistencies in complaint emerge

By Gregg Re | Fox News Top Republicans on Thursday pushed to identify the White House officials who told a whistleblower of alleged misconduct by the Trump administration, ...

Fox News hosts break down Trump’s phone call controversy and Dems’ impeachment push

By Yael Halon | Fox News Fox News’ primetime hosts reacted last night to the latest developments as Democrats ramp up their so-called impeachment inquiry of President Trump. All of the ...

Intel chief defends handling of Trump call complaint, spars with Schiff in tense hearing

By Brooke Singman | Fox News Acting Director of National Intelligence Joseph Maguire, in tense testimony Thursday on Capitol Hill, defended his handling of the explosive whistleblower complaint alleging President ...