Economy - USNN World News

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

Economy

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

by USNN World NewsMay 6, 2025May 6, 2025

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

by USNN World NewsMay 3, 2025May 3, 2025

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

by USNN World NewsApril 29, 2025April 29, 2025

Economy

US Homeownership Rate Falls to Lowest Level in 5 Years

by USNN World NewsApril 29, 2025April 29, 2025

U.S. stocks drifted to a mixed, quiet finish Monday ahead of a week with several potential flashpoints that could bring more sharp swings for financial markets. Later this week will come earnings reports from some of Wall Street’s most influential companies, including Amazon, Apple, Meta Platforms and Microsoft. Reports will also show how the U.S. economy performed during the first three months of the year and how many workers employers hired during April. On Monday: The S&P 500 rose 3.54 points, or 0.1 percent, to 5,528.75. The Dow Jones Industrial Average rose 114.09 points, or 0.3 percent, to 40,227.59. The Nasdaq composite fell 16.81 points, or 0.1 percent, to 17,366.13. The Russell 2000 index of smaller companies rose 7.93 points, or 0.4 percent, to 1,965.55. For the year: The S&P 500 is down 352.88 points, or 6 percent. The Dow is down 2,316.63 points, or 5.4 percent. The Nasdaq is down 1,944.66, or 10 percent. The Russell 2000 is down 264.61 points, or 11.9 percent. The views and opinions expressed are those of the authors. They are meant for general informational purposes only and should not be construed or interpreted as a recommendation or solicitation. The Epoch Times does not provide investment, tax, legal, financial planning, estate planning, or any other personal finance advice. The Epoch Times holds no liability for the accuracy or timeliness of the information provided.

Economy

How Major US Stock Indexes Fared April 28

by USNN World NewsApril 28, 2025April 28, 2025

NATIONAL NEWS

Trump Lawyer Sidney Powell: ‘President Trump Won by a Landslide, We Are Going to Prove It’

By Jack Phillips Trump campaign attorney Sidney Powell said during a Nov. 19 press conference that President Donald Trump “won by a landslide,” saying that their legal ...

Arizona Governor Won’t Accept Election Results Until All Lawsuits Are Settled

By Jack Phillips Arizona Gov. Doug Ducey announced the state’s election isn’t over until all court cases have been settled, as the Trump campaign and state GOP filed ...

Georgia Poll Worker Says She Found ‘Pristine’ Batch of Ballots That Went ‘98%’ for Biden

By Jack Phillips A Georgia poll worker who said she has 20 years of experience in handling ballots and recounts said in a sworn statement on Nov. ...

Georgia Recount Plagued by Anomalies, According to Sworn Affidavits

By Jeff Carlson Affidavits describe material problems with recount, “impeccable” ballots with “perfect black bubbles” for Biden, suspicions of fraud. A recount of ballots in Georgia intended to ...

Wayne County Canvassers Board Republicans Rescind Votes Certifying Election

By Ivan Pentchoukov In the second reversal in as many days, two Republicans on a county elections board in Michigan rescinded their votes that had certified their ...

1000s of Uncounted Votes | 9K Vote Glitch for Biden | Trump Gains in Georgia | Facts Matter

By Facts Matter https://youtu.be/KBjzMGi2-R0 BREAKING: During the hand recount in Georgia, 3 separate counties discover thousands of never-before-counted votes. Most were for President Trump.

Loeffler Says Republicans Are ‘Firewall Against Socialism’ in US Ahead of Georgia Runoff

By ISABEL VAN BRUGEN Sen. Kelly Loeffler (R-Ga.) said this week that “everything’s on the line” in Georgia’s upcoming runoff election in January, as she prepares to debate ...

Former Senate Leader of Minnesota’s Democrats Leaves Party

By Zachary Stieber The former Democrat leader in Minnesota’s state Senate announced with a colleague on Wednesday that he’s leaving the party. State Sens. Tom Bakk and ...

Wisconsin Elections Commission Agrees to Order Partial Recount After Trump Request

By Zachary Stieber The Wisconsin Elections Commission on Wednesday night issued an order to recount ballots in two counties following a request by President Donald Trump’s campaign. Commissioners in a ...

Georgia Recount Witnesses Saw Trump Votes Counted for Biden

By Ivan Pentchoukov Affiants also swore to have seen suspiciously pristine, uncreased mail ballots, uniformly and perfectly filled out. Witnesses of the recount of the presidential ...

Lawmakers at Hearing Largely Agree Section 230 Reform Needed

By Bowen Xiao Lawmakers questioned the chief executives of Twitter and Facebook at a Senate Judiciary Committee hearing over the social media platforms’ content moderation ...

Mail-In Ballots in Pennsylvania Not Registered in State Data, Hundreds of Voters Say

By Petr Svab More than 400 Republican voters in Pennsylvania say they requested mail-in ballots and returned them to vote, but the state absentee voting data say the ballots ...