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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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NATIONAL NEWS

  • FBI’s Handling of Hunter Biden Laptop Scandal Reveals US ‘Has a Two-Tiered Justice System,’ Delaware State Rep SaysFBI’s Handling of Hunter Biden Laptop Scandal Reveals US ‘Has a Two-Tiered Justice System,’ Delaware State Rep Says
    By Lily Sun and William Huang DEWEY BEACH, Del.—Computer repair store owner, John Paul Mac Isaac—who was caught up in the Hunter Biden laptop scandal—was unable to attend ...
  • Trump Urges Clean Sweep of Democrats in November Elections at Arizona RallyTrump Urges Clean Sweep of Democrats in November Elections at Arizona Rally
    By Allan Stein MESA, Ariz.—The hour is late and the choice for the United States is clear, former President Donald Trump told thousands of fired-up supporters during ...
  • Former Democrat Congresswoman Tulsi Gabbard Leaving PartyFormer Democrat Congresswoman Tulsi Gabbard Leaving Party
    By Zachary Stieber Former Rep. Tulsi Gabbard (D-Hawaii) announced on Oct. 11 that she’s leaving the Democrat Party. In two videos, Gabbard said the move is driven in ...
  • Is Green Hydrogen America’s Next Big Renewable Energy Gamble?Is Green Hydrogen America’s Next Big Renewable Energy Gamble?
    By Autumn Spredemann As the strained U.S. electric grid labors under the soaring demand for renewable energy, green hydrogen is ramping up and has stepped into the ...
  • Plaintiffs to Seek Depositions of Top Biden Administration Officials in Big Tech Censorship CasePlaintiffs to Seek Depositions of Top Biden Administration Officials in Big Tech Censorship Case
    By Zachary Stieber Plaintiffs in a case charging that the Biden administration was deeply involved in censoring users across Big Tech platforms are preparing to ask a ...
  • Trump Says Republicans Should Clarify Their Support for Exceptions to Abortion BansTrump Says Republicans Should Clarify Their Support for Exceptions to Abortion Bans
    By Naveen Athrappully Former President Donald Trump said Republicans need to do a better job of explaining their positions on abortion—with exceptions for rape, incest, and ...
  • New Rule Requires Firearms Dealers to Disclose Buyer Information to GovernmentNew Rule Requires Firearms Dealers to Disclose Buyer Information to Government
    By Naveen Athrappully A new policy was implemented last week by the FBI’s National Instant Criminal Background Check System (NICS), which seeks to collect the ...
  • ‘DOJ Will Come After You’ If It Disagrees With Your Position, Says Subpoenaed Nonprofit‘DOJ Will Come After You’ If It Disagrees With Your Position, Says Subpoenaed Nonprofit
    By Steve Lance and Naveen Athrappully The Department of Justice (DOJ) has issued a subpoena to Alabama-based conservative non-profit Eagle Forum for exercising its constitutionally ...
  • Sharp Rise in Marijuana-Related Psychosis: American Board of Pain Medicine PresidentSharp Rise in Marijuana-Related Psychosis: American Board of Pain Medicine President
    By Masooma Haq and Cindy Drukier As drug legalization groups and the cannabis industry lobby to legalize cannabis across the United States, with initiatives to legalize marijuana on ...
  • National Guard Lost 7,500 Service Members in Past Year, Could Lose More Amid COVID-19 Vaccine Mandate: Service OfficialsNational Guard Lost 7,500 Service Members in Past Year, Could Lose More Amid COVID-19 Vaccine Mandate: Service Officials
    By Mimi Nguyen Ly The National Guard lost about 7,500 members over the past year, and membership could dwindle even more due to potential future discharges of ...
  • Universal Mail-In Voting Violates Delaware Constitution: Delaware Supreme CourtUniversal Mail-In Voting Violates Delaware Constitution: Delaware Supreme Court
    By Zachary Stieber Delaware’s new law that allows voting by mail regardless of reason violates the state Constitution, the Delaware Supreme Court ruled on Oct. ...
  • 47 New Biden Administration Defendants Named in Government–Big Tech Censorship Lawsuit47 New Biden Administration Defendants Named in Government–Big Tech Censorship Lawsuit
    By Zachary Stieber Nearly 50 new government defendants have been added to the lawsuit that alleges the government induced censorship of state officials and others on social ...
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