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

Biden’s fracking stance may cut 19M jobs, raise electric prices: Energy secretary $Biden's fracking stance may cut 19M jobs, raise electric prices: Energy secretary$

By Sumner Park FOXBusiness Fracking makes up a large part of the economy in key battleground states like Pennsylvania and Texas. A Joe Biden presidency could undo ...

Pennsylvania bakery’s election-themed ‘cookie poll’ is now showing clear front-runner

By Michael Bartiromo | Fox News Lochel’s Bakery will debut a ‘celebratory’ cookie in honor of the winner. The official tally isn’t in just yet, but one candidate ...

Biden’s gaffes continue as Election Day draws near

By Megan Henney | Fox News Biden mispronounced health care as ‘badakathcare’. Democratic presidential nominee Joe Biden stumbled on his words again, twice, while campaigning this weekend with less than ...

Pennsylvania, Nevada AGs welcome Trump threats to send in lawyers on Election Day

By Louis Casiano FOXBusiness Although Trump has said the winner should be decided Tuesday night, in many states it will take longer to count all the ...

‘No climb’ fence going up around White House, says law enforcement source

By Stephen Sorace | Fox News Preparations come amid concerns over potential Election Day unrest. With Election Day preparations in full swing across the country, the White House will have a “no ...

Sanders tells ‘Squad’ of need to push Biden to be ‘most progressive president since FDR’

By Adam Shaw | Fox News Biden has rejected claims he will be pulled to the left if elected. Sen. Bernie Sanders, I-Vt., said in an interview that left-wing lawmakers ...

Trump’s path to victory includes winning Nevada or Arizona, holding Georgia, North Carolina

By Evie Fordham | Fox News Miller claimed that Democrats would try to ‘steal’ back the election. President Trump’s path to reelection includes holding Arizona, Georgia and North Carolina and even picking up purple ...

Massive lines at Trump rally in battleground state North Carolina

By Sam Dorman | Fox News The line to enter the rally stretched at least a half-mile long. Supporters reportedly lined up hours in advance on Sunday for President Trump’s rally ...

Trump supporters gather in front of AG Barr’s home to demand he ‘lock up’ Biden

By Louis Casiano | Fox News Group feels Barr isn’t doing enough to lock up Trump Democratic rival. A group of President Trump’s supporters gathered outside the Virginia home of Attorney ...

Pittsburgh Post-Gazette endorses Trump for handling of economy; first GOP presidential endorsement since 1972

By Lucas Manfredi FOXBusiness The newspaper said Joe Biden is ‘too old’ and ‘fragile’ to handle the job as president. The editorial board of the Pittsburgh Post ...

Trump, Ernst take leads over Dem challengers in Iowa poll

By Dom Calicchio | Fox News “Nobody’s going to do for Iowa what I did for Iowa,” the president told a rally crowd there last month. Just days ...

After court ruling, Klobuchar tells Minnesotans ‘don’t vote by mail anymore’

By Ronn Blitzer | Fox News A recent court ruling ordered late ballots to be kept separate. Sen. Amy Klobuchar, D-Minn., said that in light of an 8th Circuit Court ...