Economy - USNN World News

Economy

Senate Passes ‘No Tax on Tips Act’ in Unanimous Vote

by USNN World NewsMay 21, 2025May 21, 2025

Economy

New Vehicle Inventory in April Declines, Affordability Worsens: Cox Automotive Analysis

by USNN World NewsMay 19, 2025May 19, 2025

Economy

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Economy

Moody’s Strips US of Final AAA Rating Over Rising Debt, Interest Costs

by USNN World NewsMay 17, 2025June 4, 2025

Economy

US Pending Home Sales Dip By 3.4 Percent to ‘Lowest Level on Record’: Report

by USNN World NewsMay 15, 2025May 15, 2025

Economy

The Fed Fears Inflation While Ignoring Deflation

by USNN World NewsMay 14, 2025May 14, 2025

Economy

Student Loan Delinquencies Soar as Pandemic-Era Protections Expire

by USNN World NewsMay 13, 2025May 13, 2025

Economy

US Inflation Slows to Lowest Level Since February 2021

by USNN World NewsMay 13, 2025May 13, 2025

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

NATIONAL NEWS

Pennsylvania Supreme Court Rules to Disqualify Undated, Misdated Mail-In Ballots

By Tom Ozimek The Pennsylvania Supreme Court issued a decision on Sept. 13 that upholds a requirement in the key battleground state that voters must ...

Early Voting, Mail-in Voting, and Drop Boxes: The Rules in Each Battleground State

By Nathan Worcester Many Americans yearn for a simple, one-day election. For now, though, national elections are sprawling, weeks-long “election seasons” that differ significantly from ...

Trump Assassination Suspect Identified as Ryan Wesley Routh

By Jack Phillips, Joseph Lord and Melanie Sun The suspected would-be assassin of former President Donald Trump has been identified by officials as Ryan Wesley ...

Trump Safe After Apparent 2nd Assassination Attempt

By Jack Phillips, Joseph Lord and Emel Akan Second Assassination Attempt on Trump—What We Know So Far At around 1:30 p.m. ET, while former President Donald ...

Trump ‘Safe’ Following Gunshots in His Vicinity, Campaign Says

By Jack Phillips The Trump campaign on Sunday said that former President Donald Trump is safe after reports of gunshots in his vicinity, while the ...

Fact-Checks on Trump During Presidential Debate Stir Controversy

By Lawrence Wilson, Jacob Burg and Jackson Richman Vice President Kamala Harris and former President Donald Trump’s presidential debate continues to generate attention as some ...

Trump Vows to End Taxes on Overtime Pay If Elected in November

By Katabella Roberts Former President Donald Trump has said he plans to end taxes on overtime wages for individuals who work more than 40 hours ...

Georgia Judge Dismisses 2 Counts in Trump’s Criminal Case

By Sam Dorman Fulton County Superior Court Judge Scott McAfee has dismissed two of the counts in the criminal indictment former President Donald Trump faces ...

Garland Says Justice Department Won’t Be Intimidated by ‘Escalation of Attacks’

By Sam Dorman U.S. Attorney General Merrick Garland praised his employees during a Sept. 12 press conference while pushing back on attacks they encountered, saying ...

Election Officials Warn Problems With US Mail Could Cause 2024 Voting Disruptions

By Jack Phillips A coalition representing state and local election officials across the United States warned that problems with the nation’s mail system could disrupt ...

Texas City Shuts Down Hotel Occupied by Venezuelan Gang After 693 Police Calls

By Darlene McCormick Sanchez Texas authorities say they are shutting down a crime-ridden hotel housing Tren de Aragua gang members and investigating the gang’s criminal ...

Polaris Dawn: SpaceX Mission Astronauts Complete First Private Spacewalk in History

By Zachary Stieber Astronauts on Sept. 12 performed the first private spacewalk in history, exiting SpaceX’s Crew Dragon capsule as it orbited hundreds of miles ...