USNN World News

Economy

Market Review: Stocks Roar Back in 5-Day Winning Streak

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Economy

Moody’s Strips US of Final AAA Rating Over Rising Debt, Interest Costs

by USNN World NewsMay 17, 2025June 4, 2025

Economy

US Pending Home Sales Dip By 3.4 Percent to ‘Lowest Level on Record’: Report

by USNN World NewsMay 15, 2025May 15, 2025

Economy

The Fed Fears Inflation While Ignoring Deflation

by USNN World NewsMay 14, 2025May 14, 2025

Economy

Student Loan Delinquencies Soar as Pandemic-Era Protections Expire

by USNN World NewsMay 13, 2025October 29, 2025

Economy

US Inflation Slows to Lowest Level Since February 2021

by USNN World NewsMay 13, 2025May 13, 2025

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

NATIONAL NEWS

Alaska Passes Bill to Limit Govt From Shutting Down Gun Stores During Emergencies

By Bill Pan Alaska’s Republican-led Legislature has passed a bill prohibiting the authorities from singling out firearm and ammunition retailers when they start shutting down ...

FBI Improperly Used Surveillance Program to Spy on Jan. 6 Suspects

By Zachary Stieber The FBI abused its surveillance powers while spying on suspects in the Jan. 6, 2021, breach of the U.S. Capitol and Black Lives ...

The Big Tech Spy Hunt

By Anders Corr Commentary The United States and South Korea are getting tougher on technology leaks. The two countries have extensive tech industries to protect. Most ...

Climate Protesters Disrupt Democrats, Financiers, Big Tech at Energy Summit

By Nathan Worcester The Politico Energy Summit on May 18 revealed a growing fissure between the Biden administration and the left wing of its base, ...

Pentagon Says It Accidentally Overvalued US Military Aid to Ukraine by $3 Billion

By Katabella Roberts Military aid, including weapons and ammunition, sent by the United States to Ukraine was overestimated by at least $3 billion owing to ...

GOP Introduces Resolution to Expel Adam Schiff From Congress

By Dorothy Li Rep. Anna Paulina Luna (R-Fla.) unveiled a resolution Wednesday seeking to expel Rep. Adam Schiff (D-Calif.) from Congress, as she alleges that ...

House Weaponization Panel Hears FBI Whistleblowers Amid Democrat Delaying Tactics

By Mark Tapscott Democrats on the House Judiciary Select Subcommittee on Weaponization of the Federal Government repeatedly raised parliamentary procedural objections to disrupt the panel’s ...

‘Enveloped in Politicization’: FBI Whistleblowers Reveal ‘Serious Abuses,’ House Report Finds

By Joseph Lord House Judiciary Republicans on May 18 unveiled a whistleblower report (pdf) showing “serious abuse” and misallocations of resources by the Federal Bureau ...

Mayorkas Impeachment Articles Introduced by Rep. Greene

By Joseph Lord Rep. Marjorie Taylor Greene (R-Ga.) on May 17 introduced articles of impeachment against Department of Homeland Security (DHS) Secretary Alejandro Mayorkas. Mayorkas, who ...

Deutsche Bank to Pay $75 Million to Settle Lawsuit Bought by Victims of Jeffrey Epstein: Lawyers

By Katabella Roberts Deutsche Bank has agreed to pay $75 million to settle a class-action lawsuit filed by alleged sexual abuse victims of disgraced financier ...

Rep. Jim Jordan Says Congress Must Target FBI’s Budget in Wake of Durham Report

By Caden Pearson Rep. Jim Jordan (R-Ohio) has called for Congress to target the budget of the Federal Bureau of Investigation (FBI) after the release ...

Kari Lake Election Challenge Heads to Trial, Maricopa Voter Signatures Under Scrutiny

By Jack Phillips A three-day trial is scheduled to start Wednesday for Republican candidate Kari Lake to prove that Maricopa County did not properly verify ...