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

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Economy

The Fed Fears Inflation While Ignoring Deflation

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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

Georgia Secretary of State Calls for Release of ‘Secret Report’ on Dominion Voting Machines

By Zachary Stieber Georgia’s secretary of state has joined plaintiffs in lawsuit filed against him in calling for the release of a report that analyzes Dominion ...

McConnell, Other Republicans Warn Against Letting ‘Radical Left’ Hijack Supreme Court Pick

By Joseph Lord Senate Minority Leader Mitch McConnell (R-Ky.) and other Republicans are advising President Joe Biden not to “outsource” his Supreme Court pick to “the radical left,” warning ...

Jonathan Turley: Biden’s Supreme Court ‘diversity’ criteria ‘unconstitutional’

By Art Moore President Biden confirmed Thursday that he will fulfill his campaign promise to nominate a black woman to the Supreme Court, but constitutional ...

Internal Revenue Service Seeing ‘Mountains of Fraud’ in Cryptocurrencies, NFTs: Special Agent

By Katabella Roberts A special agent from the Internal Revenue Service has warned that non-fungible tokens (NFTs) and cryptocurrencies are highly susceptible to fraud and manipulation as they ...

Top House Republicans Allege Democrats ‘Not Serious’ About Confronting China in Chips, Competition Bill

By Mimi Nguyen Ly Top House Republicans say their Democrat colleagues are “not serious” about confronting the Chinese Communist Party (CCP), after the House unveiled ...

US Semiconductor Chip Shortage Poses Economic, National Security Risks: Commerce Dept.

By Katabella Roberts The United States is facing a chronic shortage of semiconductor chips and a long-term solution is desperately needed to avoid economic and national security risks ...

Biden Administration Is Withdrawing OSHA COVID-19 Vaccine Mandate

By Jack Phillips The federal Occupational Safety and Health Administration (OSHA) announced Tuesday it will formally withdraw its COVID-19 vaccine mandate for private businesses with 100 ...

‘Null, Void, and Unenforceable’: NY Judge Strikes Down Governor’s Mask Mandate

By Jack Phillips A New York Supreme Court judge on Monday evening ruled that Gov. Kathy Hochul’s mask mandate for schools and public places is unconstitutional, ...

Schweizer: Bidens got $31 million from China intelligence-linked sources

By Bob Unruh Peter Schweizer, the president of Governmental Accountability Institute and author of “Profiles in Corruption” and “Clinton Cash,” previously has warned China’s influence ...

Sen. Sinema Censured by Arizona Democratic Party

By Jack Phillips Sen. Kyrsten Sinema (D-Ariz.) was censured by the Arizona Democratic Party’s executive board over the weekend for voting to keep the Senate’s filibuster, which effectively blocked ...

US Now Requires All Foreign Travelers to Be COVID-19 Vaccinated When Crossing Land Ports, Ferry Terminals

By Mimi Nguyen Ly Starting Saturday, non-U.S. travelers who wish to enter the United States via ferry terminals or land ports of entry at the U.S.–Mexico ...

Biden’s COVID-19 Vaccine Mandate for Federal Workers Blocked Nationwide

By Zachary Stieber President Joe Biden’s COVID-19 vaccine mandate for federal employees was blocked on Friday by a federal judge. Biden does not have the authority to impose such ...