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Category: Economy

The US Economy

Student Loan Delinquencies Soar as Pandemic-Era Protections Expire
Posted inEconomy

Student Loan Delinquencies Soar as Pandemic-Era Protections Expire

USNN World Newsby USNN World NewsMay 13, 2025May 13, 2025
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

Posts pagination

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

NATIONAL NEWS

  • Southwest Airlines Pilots Union Sues to Block COVID-19 Vaccination MandateSouthwest Airlines Pilots Union Sues to Block COVID-19 Vaccination Mandate
    By Jack Phillips A union representing thousands of Southwest Airlines pilots filed a lawsuit against the carrier after the company announced mandatory COVID-19 vaccination requirements. In ...
  • Biden’s $600 IRS Taxpayer Reporting Proposal ‘Massive Invasion of Financial Privacy’: Bank Association ExecBiden’s $600 IRS Taxpayer Reporting Proposal ‘Massive Invasion of Financial Privacy’: Bank Association Exec
    By Tom Ozimek The proposed bank account reporting law drawn up by the Biden administration is a violation of Americans’ financial privacy and is a costly regulatory burden ...
  • Used-Car Prices Soar to Record High Amid New-Vehicle Inventory SlumpUsed-Car Prices Soar to Record High Amid New-Vehicle Inventory Slump
    By Tom Ozimek Wholesale used car prices hit a record high in September with the chip shortage and other supply constraints squeezing new-vehicle inventories and ...
  • Oil Up as Industries Switch From Gas, Little Sign Supply Crunch EasingOil Up as Industries Switch From Gas, Little Sign Supply Crunch Easing
    By Reuters Oil prices rose on Friday, and were on track for gains of nearly 5 percent this week, on signs some industries have begun switching fuel from ...
  • Virginia Judge Hands Victory to Parents, Sides Against Prosecutor on School Board RecallVirginia Judge Hands Victory to Parents, Sides Against Prosecutor on School Board Recall
    By Jack Phillips A Virginia-based parent group attempting to oust five Loudoun County School Board members was given a small win after a Loudoun County Circuit Court judge ...
  • American Employers Added 194,000 Jobs in September, Far Below ExpectationsAmerican Employers Added 194,000 Jobs in September, Far Below Expectations
    By Tom Ozimek U.S. employers added fewer than 200,000 jobs in September, sharply undershooting market expectations and painting a picture of labor market recovery that’s ...
  • 400 Workers Quit Large Michigan Hospital System Over COVID-19 Vaccine Mandate400 Workers Quit Large Michigan Hospital System Over COVID-19 Vaccine Mandate
    By Zachary Stieber Approximately 400 healthcare workers at one of Michigan’s largest hospital systems have resigned over the system’s COVID-19 vaccine mandate. The roughly 33,000 workers at ...
  • Pennsylvania Democrats Protest Curriculum Transparency BillPennsylvania Democrats Protest Curriculum Transparency Bill
    By Beth Belje The idea of parents having easy access to their children’s school curriculum was vigorously debated Wednesday in the Pennsylvania House of Representatives. Pennsylvania code already ...
  • Pfizer Scientists in Undercover Videos Say Natural Immunity Likely Better Than COVID-19 VaccinationPfizer Scientists in Undercover Videos Say Natural Immunity Likely Better Than COVID-19 Vaccination
    By Zachary Stieber A trio of scientists at Pfizer were recorded speaking to undercover reporters about the existence of natural immunity to the virus that causes COVID-19, ...
  • Households Brace for Higher Winter Heating Costs as Natural Gas Prices VaultHouseholds Brace for Higher Winter Heating Costs as Natural Gas Prices Vault
    By Tom Ozimek The relentless rise in natural gas prices continued on Wednesday, highlighting the looming threat to American households bracing for higher heating costs in the ...
  • Zuckerberg Responds to Facebook Whistleblower’s Testimony, Says Claims ‘Don’t Make Sense’Zuckerberg Responds to Facebook Whistleblower’s Testimony, Says Claims ‘Don’t Make Sense’
    By Katabella Roberts Facebook CEO Mark Zuckerberg has responded to claims made by former employee and whistleblower Frances Haugen in testimony before Congress on Oct. 5. Hague, who used to work as a lead ...
  • Six Key Takeaways From Senate Hearing With Facebook WhistleblowerSix Key Takeaways From Senate Hearing With Facebook Whistleblower
    By Joseph Lord The Senate heard testimony Tuesday from former Facebook employee Frances Haugen, who came before the Subcommittee on Consumer Protection, Product Safety, and Data Security to ...
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