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Category: Economy

The US Economy

US Inflation Slows to Lowest Level Since February 2021
Posted inEconomy

US Inflation Slows to Lowest Level Since February 2021

USNN World Newsby USNN World NewsMay 13, 2025May 13, 2025
Markets Rally After US, China Announce 90-day Tariff Reductions
Posted inEconomy

Markets Rally After US, China Announce 90-day Tariff Reductions

USNN World Newsby USNN World NewsMay 12, 2025May 12, 2025
Market Review: Stocks Retreat on Fed Caution and Trade Uncertainty
Posted inEconomy

Market Review: Stocks Retreat on Fed Caution and Trade Uncertainty

USNN World Newsby 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.”
Posted inEconomy

Panasonic Announces 10,000 Layoffs Worldwide

USNN World Newsby USNN World NewsMay 9, 2025May 9, 2025
Cox Automotive Says Tariffs Impacted Wholesale Used Car Prices in April
Posted inEconomy

Cox Automotive Says Tariffs Impacted Wholesale Used Car Prices in April

USNN World Newsby USNN World NewsMay 8, 2025May 12, 2025
How Major US Stock Indexes Fared May 7
Posted inEconomy

How Major US Stock Indexes Fared May 7

USNN World Newsby USNN World NewsMay 7, 2025May 7, 2025
How Major US Stock Indexes Fared May 6
Posted inEconomy

How Major US Stock Indexes Fared May 6

USNN World Newsby USNN World NewsMay 6, 2025May 6, 2025
Oil Prices Sink After OPEC+ Agrees to Boost Production in June
Posted inEconomy

Oil Prices Sink After OPEC+ Agrees to Boost Production in June

USNN World Newsby USNN World NewsMay 5, 2025May 5, 2025
Market Review S&P 500 and Dow Achieve Nine-Day Rally
Posted inEconomy

Market Review: S&P 500 and Dow Achieve Nine-Day Rally

USNN World Newsby USNN World NewsMay 3, 2025May 3, 2025
Trump Says Americans Should Be Patient After US Economy Contracts
Posted inEconomy

Trump Says Americans Should Be Patient After US Economy Contracts

USNN World Newsby USNN World NewsApril 30, 2025June 5, 2025
US Job Openings Slide to 6-Month Low, Layoffs Fall
Posted inEconomy

US Job Openings Slide to 6-Month Low, Layoffs Fall

USNN World Newsby USNN World NewsApril 29, 2025April 29, 2025
US Homeownership Rate Falls to Lowest Level in 5 Years
Posted inEconomy

US Homeownership Rate Falls to Lowest Level in 5 Years

USNN World Newsby USNN World NewsApril 29, 2025April 29, 2025

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Newer posts 1 … 9 10 11 12 13 … 102 Older posts

NATIONAL NEWS

  • Nancy Pelosi’s Husband Attacked During Home InvasionNancy Pelosi’s Husband Attacked During Home Invasion
    By Zachary Stieber U.S. House Speaker Nancy Pelosi’s husband was attacked in the early hours of Oct. 28 during a home invasion, Pelosi’s office says. A person ...
  • Pentagon: US to End Sea-Launched Nuclear Missile ProgramPentagon: US to End Sea-Launched Nuclear Missile Program
    By Jack Phillips The United States will stop developing nuclear-armed, sea-launched cruise missiles, according to new documents released by the Department of Defense (DOD). The documents ...
  • Senators Share Documents With Prosecutors Probing Hunter BidenSenators Share Documents With Prosecutors Probing Hunter Biden
    By Zachary Stieber Two senators have shared documents they’ve obtained while investigating President Joe Biden’s son with prosecutors who are probing the son, Hunter Biden, the ...
  • Trump to Hold Rallies in Four States Ahead of Midterm ElectionsTrump to Hold Rallies in Four States Ahead of Midterm Elections
    By Frank Fang Former President Donald Trump is set to go on a rally blitz for candidates he has endorsed in at least four battleground states during ...
  • Trump Was Right on TikTok, says Top Democrat SenatorTrump Was Right on TikTok, says Top Democrat Senator
    By Victoria Kelly-Clark One of the Democratic Party’s leading figures, Sen. Mark Warner (D-Va.), who is head of the United States Senate intelligence committee, has said former ...
  • Arizona County Approves Plan to Hand Count Ballots, Citing Declining Voter ConfidenceArizona County Approves Plan to Hand Count Ballots, Citing Declining Voter Confidence
    By Katabella Roberts A Republican-controlled county in Arizona will hand count some ballots cast at polls in November’s midterm congressional elections after voting to approve the measure on Oct. 24. The ...
  • GOP Gubernatorial Candidate Zeldin Says He’ll Declare Crime Emergency in NYGOP Gubernatorial Candidate Zeldin Says He’ll Declare Crime Emergency in NY
    By Jack Phillips Republican New York gubernatorial candidate Lee Zeldin suggested he would declare a crime emergency and end cashless bail if he’s elected, according to remarks ...
  • Michigan State Senator Raises Concerns About Secretary of State Jocelyn Benson, Election IntegrityMichigan State Senator Raises Concerns About Secretary of State Jocelyn Benson, Election Integrity
    By Tiffany Meier, Joshua Philipp and Naveen Athrappully Michigan state Sen. Ruth Johnson, a Republican, has accused Michigan Secretary of State Jocelyn Benson, a Democrat, of incompetence, and raised concerns about election ...
  • Tudor Dixon, Gretchen Whitmer Debate Pandemic Response, Mandating COVID Jabs for School Kids in MichiganTudor Dixon, Gretchen Whitmer Debate Pandemic Response, Mandating COVID Jabs for School Kids in Michigan
    By Caden Pearson Democratic Michigan Gov. Gretchen Whitmer said she doesn’t support “requiring the COVID vaccine” for school kids after being put on the spot by Republican gubernatorial candidate Tudor Dixon during ...
  • US, Other IEA Members Have ‘Huge’ Oil Reserves That Can Be Tapped If Supply Is Disrupted: BirolUS, Other IEA Members Have ‘Huge’ Oil Reserves That Can Be Tapped If Supply Is Disrupted: Birol
    By Naveen Athrappully Members of the International Energy Agency (IEA) can tap into its oil reserves to alleviate any supply issues, the agency’s executive director Fatih Birol ...
  • Independent Voters Rush Away From Democrats on Economy Ahead of Midterms: SurveyIndependent Voters Rush Away From Democrats on Economy Ahead of Midterms: Survey
    By Bryan Jung A new survey reveals that independent voters are fleeing from the Democrats due to the economy and inflation, two weeks before the midterm elections. Independents are 20 percent ...
  • ‘Misguided’ Government Policies Worsen US Homelessness Crisis: Report‘Misguided’ Government Policies Worsen US Homelessness Crisis: Report
    By Emel Akan Homelessness in the United States has increased dramatically over the last decade and is now at crisis levels in many major cities. ...
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