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

Rush Limbaugh: Dems, media paying ‘a price’ for Russia investigation flop

By Victor Garcia | Fox News Democrats and the media are paying the price for pushing the Russia collusion narrative for more than two years, according to conservative ...

Hannity on Dems push for impeachment: ‘An anticlimactic culmination of 3 years of lies’

By Victor Garcia | Fox News Fox News’ Sean Hannity criticized Democrats Monday night for targeting President Trump and once again pursuing impeachment. “There are no high crimes, no misdemeanors. ...

Fake news on Instagram could cause big problems in 2020, report claims

By Christopher Carbone | Fox News Instagram could become the new breeding ground for disinformation in the lead up to the 2020 election because bad actors are adapting ...

Trump Says He Will Release an ‘Extremely Complete’ Financial Report Before 2020 Election

By Janita Kan President Donald Trump told reporters on Sept. 9 that he will be releasing a financial report on himself ahead of the 2020 presidential ...

Trump unloads on ‘disloyal’ Democratic House candidate at fiery rally ahead of pivotal North Carolina special election

By Gregg Re | Fox News High stakes were matched by some of President Trump’s harshest campaign rhetoric yet at a rally in Fayetteville, N.C., on Monday night, with ...

Kamala Harris apologizes for laughing after audience member calls Trump ‘mentally retarded’

By Sam Dorman | Fox News Sen. Kamala Harris, D-Calif., claimed Saturday that she didn’t hear an audience member at a New Hampshire town hall Friday call President Trump “mentally retarded” and ...

Dr. Robert Epstein: Study claims Google reflected ‘very dramatic bias’ in 2016 election search results

By Charles Creitz | Fox News Google allegedly offered search results during the 2016 election season that manipulated voters in Hillary Clinton’s favor, according to researcher Dr. Robert Epstein. The study looked into “politically ...

Mark Sanford announces Trump primary challenge: GOP ‘has lost our way’

By Ronn Blitzer | Fox News Former South Carolina Gov. Mark Sanford announced Sunday that he is running for president as a Republican, becoming the latest to challenge President ...

Maine set to become first state to allow ranked voting in presidential election

By Vandana Rambaran | Fox News Maine is poised to become the first state in the country to implement a system allowing voters to rank candidates in presidential elections. Democratic ...

Trump blasts ‘totally illegal’ DACA order, says Obama didn’t have the right to sign it

By Adam Shaw | Fox News President Trump on Friday said that the Obama-era executive order granting protections to some immigrants who came to the country as minors was a ...

Outgoing CNN contributor Eliana Johnson questions network’s decision to send her packing

By Brian Flood | Fox News Soon-to-be former CNN on-air contributor Eliana Johnson questioned the rationale of an executive at the liberal network who said she was no longer needed because ...

Senator Sanders’ plan to fight climate change with ‘Third World population control…is disgusting’: Stuart Varney

By Matt London | Fox News Fox Business Network host Stuart Varney blasted 2020 Democratic Presidential candidate and Vermont Senator Bernie Sanders I-Vt., who said that as president, he ...