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

More GSA debauchery: Probe finds ex-official had sex on agency’s roof with White House staffer

By Judson Berger | Fox News The same agency that sparked a firestorm during the Obama administration for lavish spending at a Vegas conference – complete with a widely ...

Moulton ends long-shot White House bid, in latest 2020 Dem drop-out

By Paul Steinhauser | Fox News Rep. Seth Moulton of Massachusetts repeatedly has said he’s not a quitter. But on Friday, the three-term congressman and U.S. Marine veteran who ...

Apple iPhone 7 radiation test prompts FCC investigation: report

By Christopher Carbone | Fox News Apple’s popular iPhone 7 produced radio frequency radiation above the legal limit in a new test, prompting the Federal Communications Commission (FCC) ...

David Koch, billionaire philanthropist and prolific GOP donor, dead at 79

By Paulina Dedaj | Fox News David Koch, the billionaire former executive Vice President of Koch Industries who, along with his brother, was one of the most ...

Federal court undercuts progressive efforts to nullify Electoral College, rules electors can vote freely

By Gregg Re | Fox News In a major blow to state-by-state progressive efforts to effectively replace the Electoral College with a nationwide popular vote, a federal appeals court ...

Jeffrey Epstein had painting of girl lying with tiger at New Mexico home, in latest odd art reveal

By Hollie McKay | Fox News Odd and often creepy details continue to surface in the aftermath of accused sex trafficker Jeffrey Epstein’s suicide, giving a glimpse of the twisted ...

Nikki Haley denies ‘false rumors’ she will replace Pence on GOP ticket in 2020

By Alex Pappas | Fox News Nikki Haley, the former U.S. ambassador to United Nations, on Wednesday denied what she called “false rumors” that she could replace Mike Pence as ...

John Delaney suggests some Dems are ‘cheering on a recession’ to hurt Trump

By Joseph A. Wulfsohn | Fox News Above John Delaney: Some of President Trump’s media critics appear to be rooting for recession. After striking out on Russia ...

Gov. Gavin Newsom is ‘responsible’ for California’s homeless crisis, says former state congressman

By Joshua Nelson | Fox News The vice president of the Texas Public Policy Foundation, Chuck DeVore, said Wednesday that Gavin Newsom is “responsible for the policies that have created California’s homeless ...

Defiant Trump digs in amid battles on trade, guns, Israel: ‘I am the chosen one’

By Alex Pappas | Fox News A defiant President Trump sparred with reporters Wednesday in a testy back-and-forth for more than a half-hour as he dug in over his ...

Portland residents, business owners want city officials to ‘fix’ homeless problem

By Barnini Chakraborty | Fox News PORTLAND, Ore. – In the summer of 2019, Fox News embarked on an ambitious project to chronicle the toll progressive policies have had ...

$3 Million Proceeds From Betsy Ross T-shirt Will Build Homes for Families of Fallen Soldiers

BY RICHARD SZABO A radio talk show celebrity’s generosity will help provide shelter for the family of servicemen who died while serving their country, a New ...