Economy - USNN World News

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

Economy

New Oil Drilling Permits in California Drop 97 Percent in 5 Years: What to Know

by USNN World NewsApril 27, 2025April 27, 2025

NATIONAL NEWS

Officers clear protesters from outside White House, as ‘Defund the Police’ graffiti removed

By Gillian Turner, Brooke Singman | Fox News Law enforcement officers cleared protesters Tuesday from outside the White House following a clash the night before, pushing them beyond ...

Hackers just leaked sensitive files from over 200 police departments that are searchable by badge number

By Aaron Holmes A hacktivist group on Friday published hundreds of gigabytes’ worth of potentially sensitive files from police departments across the US in the ...

Trump urges AOC to run against Schumer, says she’d win

By Edmund DeMarche | Fox News President Trump urged Rep. Alexandria Ocasio-Cortez, D-N.Y., to run against the state’s longtime Sen. Chuck Schumer in the 2022 primary in November, saying ...

Sarah Sanders slams Bolton as man ‘drunk on power,’ in her forthcoming book

By Brooke Singman | Fox News Former White House Press Secretary Sarah Sanders slams former National Security Adviser John Bolton as a man “drunk on power” in her forthcoming book ...

Owner of Ohio store ransacked by rioters says she’s receiving threats for cooperating with police

By Talia Kaplan | Fox News An Ohio business owner told “Fox & Friends” on Monday that she is receiving threats for cooperating with law enforcement officials investigating the looting of her ...

Trump campaign rejects claims that TikTok, K-Pop fans sabotaged rally: ‘Don’t know what they’re talking about’

By Gregg Re | Fox News After top Democrats gloated that teenage activists had sabotaged turnout at President Trump’s Tulsa, Okla., rally on Saturday, the Trump campaign fired back within hours, saying that media ...

Biden campaign adviser weighs in on why former VP hasn’t held news conference in nearly three months

By Ronn Blitzer | Fox News Former Vice President Joe Biden’s senior campaign adviser Symone Sanders dodged a question of why the presumptive Democratic presidential nominee has not ...

Trump prepares for first campaign rally in months in Tulsa amid concerns about coronavirus, violence

By Adam Shaw | Fox News President Trump on Saturday will head to Tulsa, Oklahoma to address what is likely to be a packed rally of supporters — despite ...

Oklahoma Supreme Court allows Trump rally to proceed as planned, as president says Tulsa curfew being lifted

By Adam Shaw | Fox News The Oklahoma Supreme Court on Friday ruled that President Trump’s upcoming rally in Tulsa can go ahead as planned despite concerns about coronavirus ...

Pompeo blasts Bolton’s book as ‘spreading a number of lies,’ calls him a ‘traitor’: ‘I was in the room too’

By Michael Ruiz | Fox News Secretary of State Mike Pompeo dove into the controversy surrounding former national security adviser John Bolton’s new book, “The Room Where it Happened,” Thursday ...

Cotton blasts Roberts over DACA, invites him to resign, run for office

By Edmund DeMarche | Fox News Sen. Tom Cotton, R-Ark., said Thursday that Supreme Court Chief Justice John Roberts should resign from his position and run for office ...

Trey Gowdy slams Bolton book: ‘For $29.95, he’s going to save you from this existential threat’

By Yael Halon | Fox News Fox News contributor Trey Gowdy reacted to John Bolton’s allegations in his upcoming book regarding President Trump’s fitness for office by asking the former national security adviser: “If ...