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

Meth is flooding across US-Mexico border during pandemic as cartels get creative

By Stephanie Bennett | Fox News Mexican cartels are finding more unusual ways to smuggle the drugs, Customs and Border Protection officers say. NOGALES, Ariz. — U.S. Customs and ...

Hunter Biden’s deals ‘served’ China and its military, new documentary claims

By Bruce Golding | New York Post ‘Riding the Dragon: The Bidens’ Chinese Secrets’ is narrated by ‘Clinton Cash’ author Peter Schweizer. Hunter Biden’s business dealings in China served the “strategic interests” ...

Biden makes awkward ‘they’ll shoot me’ quip during Kenosha appearance

By Marisa Schultz | Fox News Former Vice President Joe Biden used an unfortunate choice of words Thursday while visiting Kenosha, Wis. in the aftermath of the police shooting of Jacob ...

New details in shooting of Portland murder suspect, Antifa supporter Michael Reinoehl

By Stephanie Pagones | Fox News Reinoehl was wanted in connection to the Portland shooting death of Aaron ‘Jay’ Danielson. New details have emerged in the fatal shooting ...

Trump campaign bracing for legal battle over election, forming ‘coalition’ of lawyers

By Brooke Singman | Fox News Efforts come amid a fierce war of words over the integrity of the vote. The Trump campaign is bracing for the possibility of a ...

Pelosi trolled by pro-Trumpers with alleged video from California district: ‘Nancy Pelosi does not want you to see this’

By Danielle Wallace | Fox News Tents and drug-using homeless people fill the streets in the San Francisco congressional district run by Pelosi. House Speaker Nancy Pelosi “does not want ...

Barr schools CNN anchor on ‘reckless and dangerous’ mail-in ballot push

By Audrey Conklin | Fox News Attorney General William Barr said on Wednesday that people who are “trying to change the rules” of voting methodology ahead of November are “playing with fire.” In an interview ...

Cuomo says Trump would need ‘army’ to safely walk New York City streets

By Caitlin McFall | Fox News New York’s governor pushes back on the president’s attempt to crack down on crime in liberal cities. New York Gov. Andrew Cuomo responded Wednesday ...

CNN’s Don Lemon calls out Pelosi over salon trip, knocks ‘setup’ claim

By Joseph A. Wulfsohn | Fox News The liberal anchor rarely expresses criticism of Democrats. CNN anchor Don Lemon offered a rare scolding of a Democrat, this time House Speaker Nancy ...

Trump calls on CNN to fire Chris Cuomo over leaked audio: ‘Fredo must go!’

By Brian Flood, Joseph A. Wulfsohn | Fox News ‘Cuomo Prime Time’ host was heard denying apparent sexual misconduct allegations. President Trump on Wednesday morning called on CNN to fire ...

Restaurant fires server who told police detective to ‘quit your job’ on his receipt

By Ann W. Schmidt | Fox News The detective reportedly threw away his food because he was worried something had been done to it. A restaurant server reportedly lost her ...

Trump slams Pelosi for visit to shuttered salon: ‘Constantly lecturing everyone else’

By Brooke Singman | Fox News ‘Crazy Nancy Pelosi is being decimated,’ president tweets. President Trump slammed House Speaker Nancy Pelosi on Wednesday for “constantly lecturing everyone else” after she visited a ...