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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

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    By Kim Lyons This, despite the carrier’s relentless promotion of its 5G network. Despite its relentless promotion of 5G phones and the fact that it spent more than $45 ...
  • Trump Mulls White House Bid in CPAC Speech: ‘I May Even Decide to Beat Them for Third Time’Trump Mulls White House Bid in CPAC Speech: ‘I May Even Decide to Beat Them for Third Time’
    By Jack Phillips Former President Donald Trump delivered his first major speech after leaving office, charting a path forward for the Republican Party and conservatives but suggested ...
  • Trump Endorses Former Aide Max Miller Against GOP Rep. Who Voted for ImpeachmentTrump Endorses Former Aide Max Miller Against GOP Rep. Who Voted for Impeachment
    By Mimi Nguyen Ly Former President Donald Trump on Friday endorsed his former aide, Max Miller, in his primary challenge of incumbent Rep. Anthony Gonzalez (R-Ohio), who ...
  • Trump ‘Planning for the Next Administration’: Former Chief of Staff Mark MeadowsTrump ‘Planning for the Next Administration’: Former Chief of Staff Mark Meadows
    By Samuel Allegri Mark Meadows, the chief of staff of former President Donald Trump, said that they will be moving forward with the “America First” ...
  • Judge Rules Arizona’s Maricopa County Must Turn Over 2.1 Million November Election Ballots to SenateJudge Rules Arizona’s Maricopa County Must Turn Over 2.1 Million November Election Ballots to Senate
    By Jack Phillips A judge on Friday ruled that Maricopa County must provide some 2.1 million ballots from the Nov. 3 election to the Arizona state Senate ...
  • Hawley Proposes $15 Minimum Wage for Billion-Dollar CorporationsHawley Proposes $15 Minimum Wage for Billion-Dollar Corporations
    By Tom Ozimek Sen. Josh Hawley (R-Mo.) on Friday announced legislation that would force big companies to pay their workers a $15 minimum wage. Hawley’s plan targets corporations with ...
  • Rep. Scalise Releases Timeline of Cuomo’s Nursing Home Death Toll ‘Cover-Up’Rep. Scalise Releases Timeline of Cuomo’s Nursing Home Death Toll ‘Cover-Up’
    By Tom Ozimek House Minority Whip Steve Scalise (R-La.) on Thursday ramped up his criticism of New York Gov. Andrew Cuomo’s handling of the nursing home COVID-19 deaths, ...
  • Federal Judge Rules Nationwide Eviction Ban Is UnconstitutionalFederal Judge Rules Nationwide Eviction Ban Is Unconstitutional
    By Janita Kan A  judge in Texas on Thursday ruled that the federal government does not have the authority to issue a nationwide eviction moratorium. U.S. District Judge ...
  • Democrats Accept 2 of 286 Amendments Sought by Republicans for $1.9 Trillion COVID-19 Stimulus BillDemocrats Accept 2 of 286 Amendments Sought by Republicans for $1.9 Trillion COVID-19 Stimulus Bill
    By Masooma Haq Republicans have criticized Democrats for continuing to push their pandemic stimulus package while accepting little to no Republican input. House Minority Leader ...
  • Biden’s $1.9 Trillion Relief Bill Is ‘Neo-Socialist Wish List’: Sen. John KennedyBiden’s $1.9 Trillion Relief Bill Is ‘Neo-Socialist Wish List’: Sen. John Kennedy
    By Tom Ozimek Republicans are rallying against Democrats’ proposed $1.9 trillion COVID-19 relief bill, with Sen. John Kennedy (R-La.) the latest to pan the package as ...
  • Biden’s Attorney General Pick Says Portland Riots May Not Have Been ‘Domestic Terrorism’Biden’s Attorney General Pick Says Portland Riots May Not Have Been ‘Domestic Terrorism’
    By Zachary Stieber Attorney general nominee Merrick Garland said this week that the riots in Portland last year may not have qualified as domestic terrorism. “My own definition, which is ...
  • Ex-Capitol Police Chief: Intel Indicated Antifa, Proud Boys, Other Groups Would Join on Jan. 6Ex-Capitol Police Chief: Intel Indicated Antifa, Proud Boys, Other Groups Would Join on Jan. 6
    By Jack Phillips Former Capitol Police Chief Sund said that a pre-Jan. 6 intelligence assessment suggested that Antifa, Proud Boys, and extremist groups would partake in the ...
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