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 Drives by Supporters Showing Up for ‘Million MAGA March’

By Zachary Stieber President Donald Trump on Saturday drove by supporters who were in Washington for a pro-Trump march that organizers predicted would draw thousands. Trump exited the White ...

Collins: Georgia Can’t Properly Certify Election Without Verifying Signatures

BY IVAN PENTCHOUKOV The head of the Trump campaign’s recount effort in Georgia said the Peach State will not be able to properly certify the results of the 2020 presidential ...

Google Has Power to Shift Millions of Votes Through Targeted Messaging: Dr. Robert Epstein

BY ELLA KIETLINSKA AND JAN JEKIELEK Big Tech companies such Google and Facebook have enormous power to shift people’s opinions and voting preferences through manipulation of the content of their ...

Victor Davis Hanson on the US Election 2020 & Trump’s Prospects | American Thought Leaders

By American Thought Leaders The Epoch Times https://youtu.be/5GKQ50gNNBk Does President Donald Trump have a path to a second term? What would it take? And how have ...

Massive Crowds of People March in DC to Show Support for Trump, Demand Election Integrity

BY OMID GHOREISHI AND EMEL AKAN WASHINGTON—Tens of thousands of people converged at Freedom Plaza in Washington on Saturday, joining other rallies around the country to show support for President ...

GOP Candidate Appeals Pennsylvania County Decision to Count Undated Mail-In Ballots

By Zachary Stieber A Republican state Senate candidate is appealing the decision by Allegheny County, Pennsylvania to count over 2,000 mail-in ballots with no date. Ziccarelli, 38, an ...

Republicans Will Control Montana’s State Government for the First Time in Nearly Two Decades

By Zachary Stieber Montana voters chose the Republican gubernatorial nominee for the first time in 16 years after popular Gov. Steve Bullock had to leave office ...

Wisconsin Voters File Lawsuit to Exclude Over 792,000 Votes in 3 Counties

By The EPOCH Times News Team Three voters in Wisconsin have filed a federal lawsuit seeking to exclude Nov. 3 election results in three of ...

IT’S HAPPENING: Trump Campaign Attorney Points to Dominion Fraud: “Communist China Materially Interfered with Our Election – TRUTH”

By Jim Hoft Prominent Attorney L. Lin Wood, who successfully represented teen Nicholas Sandmann in defamation suits against The Washington Post and CNN, joined the president’s efforts to win back the 2020 ...

Peter Navarro: White House Operating ‘Under the Assumption’ Trump Won

By Jack Phillips White House economic advisor Peter Navarro said Friday the administration is operating under the view that President Donald Trump has won a second term. “We are moving ...

BOOM: Pennsylvania Auditors Drop A Bombshell – This Is Nuts

By The Patriot Uproar Pennsylvania auditors alerted officials of possible dead people and duplicate registrations on the state’s voter rolls last year, but the warnings ...

CISA’s Ware resigns; is Director Krebs next out the door?

By Jason Miller The Cybersecurity and Infrastructure Security Agency (CISA) in the Department of Homeland Security appears to be in the midst of a house ...