Economy - USNN World News

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

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How Major US Stock Indexes Fared May 7

by USNN World NewsMay 7, 2025May 7, 2025

Economy

How Major US Stock Indexes Fared May 6

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Economy

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

by USNN World NewsMay 5, 2025May 5, 2025

Economy

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

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Economy

Trump Says Americans Should Be Patient After US Economy Contracts

by USNN World NewsApril 30, 2025June 5, 2025

Economy

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

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Economy

US Homeownership Rate Falls to Lowest Level in 5 Years

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NATIONAL NEWS

Sidney Powell: Every Voting Machine Needs to Be Seized, Forensically Analyzed

By Bowen Xiao and Jan Jekielek Every single voting machine used in this year’s election should be impounded and reviewed for forensic analysis, according to ...

Arizona State Senate Subpoenas Maricopa County to Audit Scanned Ballots, Dominion Voting Machines

By Mimi Nguyen Ly The Arizona state Senate on Monday announced two subpoenas in the state’s most populous county to audit scanned ballots, voting machines, and software. Arizona ...

Electors in 7 States Cast Dueling Votes for Trump

By Ivan Pentchoukov Republican electors in Pennsylvania, Georgia, Michigan, Wisconsin, Arizona, Nevada, and New Mexico cast alternative slates of votes for President Donald Trump on Dec. 14, ...

Ownership of Dominion Draws Scrutiny After Unusual Fundraising

By Emel Akan WASHINGTON—Dominion Voting Systems has come under scrutiny for its ownership structure after its parent company raised funds with the help of a Swiss ...

McEnany: Electoral College Vote ‘One Step in Constitutional Process,’ Trump Not Giving Up

By Jack Phillips White House press secretary Kayleigh McEnany suggested President Donald Trump will not concede any time soon, saying he is “still involved in ongoing lawsuits” ...

Pennsylvania, Georgia, Nevada, and Arizona Republican Electors Cast Votes for Trump

By Bowen Xiao Republican electors in four states said on Dec. 14 that they would cast their procedural votes for President Donald Trump and Vice President ...

Judge Approves Release of Dominion Forensic Audit

By Zachary Stieber A judge in Michigan on Monday permitted parties in a court case to release the results of a forensic imaging examination of Dominion Voting Systems machines, ...

Dominion Software Intentionally Designed to Influence Election Results

By Zachary Stieber A forensic audit of Dominion Voting Systems machines and software in Michigan showed that they were designed to create fraud and influence election results, a data ...

Crucial Logs Missing From Michigan County Dominion Voting Machines: Forensics Report

By Ivan Pentchoukov A court-sanctioned forensic audit of voting systems in Michigan’s Antrim County determined that crucial security and ballot-adjudication logs were missing from machines ...

US Commerce Confirms It Was Hacked; Treasury Reportedly Breached

By Zachary Stieber The U.S. Commerce Department on Sunday confirmed it was breached, after reports that both it and the Treasury Department were hacked by a foreign ...

Nevada DMV Records Suggest 3,987 Non-Citizens Voted in 2020 Election

By Ivan Pentchoukov Nevada Department of Motor Vehicle (DMV) records suggest that nearly 4,000 legal and illegal aliens cast votes in the 2020 general election, ...

US in Middle of ‘Battle of Good vs. Evil’: Michael Flynn

By Jack Phillips Retired Army Lt. Gen. Michael Flynn, the former director of national intelligence, said the United States is in the middle of a “battle ...