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

California wildfires rage as wine country blaze forces evacuation of hospital, hundreds of homes

By Travis Fedschun | Fox News The Glass Fire has scorched at least 11,000 acres and spurred evacuations in Napa and Sonoma Counties. Hundreds of homes and a ...

Some Minneapolis City Council members may regret pledge to dismantle police department: report

By Lucas Manfredi | Fox News Residents have voiced concerns about rising crime and frustration with city’s response civil unrest. Some members of the Minneapolis City Council may ...

Trump calls New York Times report that he avoid paying taxes ‘totally made up’

By Andrew O’Reilly | Fox News ‘Everything was wrong, they are so bad,’ Trump said. President Trump lambasted a New York Times report that said he paid no federal income taxes ...

Trump takes press to task for skipping over Hunter Biden scandals

By Edmund DeMarche | Fox News President Trump on Sunday may have shown a preview of this week’s upcoming presidential debate when he asked reporters at the ...

Wildfire erupts in California’s Napa County, emergency evacuations over ‘dangerous rate of spread’

By Travis Fedschun | Fox News The Glass Fire near St. Helena has consumed at least 800 acres. Mandatory evacuations were issued Sunday morning in areas of Northern California after a fast-moving wildfire erupted ...

Trump calls for Biden to take a drug test before upcoming presidential debate

By Danielle Wallace | Fox News Trump said Biden’s past debate performances have been ‘record setting UNEVEN’. President Trump said Sunday that he demanded his Democratic opponent Joe Biden take a drug ...

Pelosi doubles down that Biden shouldn’t debate Trump: ‘Why bother?’

By Megan Henney | Fox News House Speaker Nancy Pelosi on Friday doubled down on her argument that Democratic presidential nominee Joe Biden should not debate President Trump, claiming the Republican incumbent ...

LA police detain, release driver after vehicle plows into protesters; at least 1 injured: report

By David Aaro | Fox News Later, another vehicle approached the same protesters, reports said. At least one person was taken to a hospital Thursday night after multiple vehicles ...

Breonna Taylor shooting: Video purportedly shows tense moments after officer was struck by gunfire

By Greg Norman | Fox News Sgt. Jonathan Mattingly was not indicted by a grand jury following Taylor’s death. A new video has emerged purportedly showing the tense ...

Republicans on North Carolina Board of Elections resign after mail-in ballot changes

By Evie Fordham | Fox News Gov. Roy Cooper, a Democrat, can nominate their replacements. Both Republicans on the five-person North Carolina State Board of Elections submitted their resignations on Wednesday night, ...

Trump says Biden ‘should leave the campaign’ after Senate GOP report on Hunter Biden’s business dealings

By Brooke Singman | Fox News The president made the comments during an interview on ‘The Brian Kilmeade Show’. President Trump on Thursday said his Democratic opponent Joe Biden “should leave ...

Breonna Taylor protests: Suspect accused of shooting cops ID’d as Louisville sees nearly 100 arrests after grand jury decision

By Danielle Wallace | Fox News No update was provided on the two officers wounded during demonstrations. The Louisville Metro Police Department announced Thursday nearly 100 arrests were made overnight amid demonstrations following a ...