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

Violent summer proves deciding factor for some Minnesota voters

By Audrey Conklin | Fox News President Trump says he’s confident of winning Minnesota, despite polls that show him trailing Democratic challenger Joe Biden in the battleground state, which has voted ...

Progressive journalist slams corporate media for ‘dangerous’ blackout of Hunter Biden scandal

By Brian Flood | Fox News ‘This is dangerous for the future of journalism,’ Jordan Chariton says. Progressive journalist Jordan Chariton slammed corporate media on Thursday for ignoring the ongoing ...

Deposition transcripts of accused Epstein enabler released amid trial

By Stephanie Pagones | Fox News The depositions were taken as part of a lawsuit brought against Maxwell by Virginia Roberts Giuffre. More than 400 pages of deposition transcripts ...

Trump knocks Pelosi, Schumer for ‘blue-state bailout’ amid coronavirus relief standstill

By Brittany De Lea FOXBusiness Senate Democrats blocked an attempt by Republicans to push through a $500 billion relief provision. President Trump went after House Speaker Nancy Pelosi ...

Putin says Dem Party closer to ‘ideas’ that gave rise to communism

By Morgan Phillips | Fox News Putin was a member of the Soviet Communist Party for nearly two decades. Russian President Vladimir Putin said the U.S. Democratic Party is closer to ...

Russia, Iran attempting to influence 2020 elections to damage Trump, cause chaos, DNI Ratcliffe announces

By Sam Dorman | Fox News ‘Know that our election systems are resilient and you can be confident your votes are secure.’ Russia and Iran are attempting to influence the 2020 elections and have obtained some ...

Biden campaign faces backlash for TV ad depicting Michigan tech CEO as struggling bar owner

By Danielle Wallace | Fox News The Blind Pig co-owner blamed President Trump, not Democratic Gov. Whitmer, for his bar’s economic downturn. The Biden team is under fire for releasing ...

Trump says choice is ‘American Dream’ or ‘socialist hellhole’ in 2020 race

By Audrey Conklin | Fox News US would be ‘no different than Venezuela’ under a Biden administration, Trump tells ‘Fox & Friends’. President Trump on Tuesday equated the race between himself and ...

Glenn Greenwald trashes media ‘cone of silence’ around Hunter Biden email scandal

By Yael Halon | Fox News The Intercept founding editor claims journalists working with ‘FBI, CIA and the NSA … to manipulate the American people’. The Intercept founding ...

Cancer-stricken Rush Limbaugh says he can no longer deny he’s ‘under a death sentence’

By Brian Flood | Fox News ‘You know, I wake up every day and thank God that I did,’ radio legend says. Cancer-stricken talk radio legend Rush Limbaugh provided listeners ...

Elon Musk sets 4-year timeline for SpaceX Mars mission, says there’s a ‘fighting chance’

By Peter Aitken | Fox News The timelines are ‘only guesses,’ but Musk is determined to see his team achieve them. Elon Musk has said he could see a ...

Obama’s 2008 campaign vetted Hunter Biden’s $100,000 retainer with big bank

By Ronn Blitzer | Fox News Back in 2008, when then-candidate Barack Obama was running for the presidency, his campaign defended chosen running mate Joe Biden for backing a bill in ...