USNN World News

Economy

US Inflation Slows to Lowest Level Since February 2021

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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

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Economy

How Major US Stock Indexes Fared May 7

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Economy

How Major US Stock Indexes Fared May 6

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Economy

Oil Prices Sink After OPEC+ Agrees to Boost Production in June

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Economy

Market Review: S&P 500 and Dow Achieve Nine-Day Rally

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Economy

Trump Says Americans Should Be Patient After US Economy Contracts

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Economy

US Job Openings Slide to 6-Month Low, Layoffs Fall

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Economy

US Homeownership Rate Falls to Lowest Level in 5 Years

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NATIONAL NEWS

Trump Signs Order Barring Men From Women’s Sports

By Travis Gillmore President Donald Trump signed an executive order on Wednesday calling for the end of men playing in women’s sports. The “Keeping Men Out ...

Florida Watchdogs Raise Questions About Mail-in Voting Practices in 2024 General Election

By Steven Kovac A couple of election integrity watchdogs want to know why state data from Nov. 5 and Nov. 6, 2024, appears to show ...

Biden-Era Climate Rule Dead After Court Grants Dismissal of Appeal

By Zachary Stieber A climate rule issued during the Biden administration is officially dead after judges on Feb. 3 granted the new administration’s request to ...

More Than 20,000 Federal Workers Have Taken Buyout Offer, Surge Expected Before Friday Deadline, Says Official

By Mark Tapscott WASHINGTON—More than 20,000 federal workers have accepted President Donald Trump’s buyout proposal since last week, and officials expect many more before Friday’s ...

ICE Arrests Wanted Criminal Suspects, Venezuelan Gang Members

By Naveen Athrappully Multiple gang members and illegal aliens were apprehended by the U.S. Immigration and Customs Enforcement (ICE) authorities in recent days amid President ...

Senate Finance Committee Advances Nomination of RFK Jr. as HHS Secretary

By Jeff Louderback Robert F. Kennedy Jr. took a step closer to becoming secretary of the Department of Health and Human Services on Feb. 4 ...

Trump’s Border Czar Says Illegal Crossings Down 93 Percent

By Jack Phillips President Donald Trump’s border czar, Tom Homan, said Sunday that the United States’ southern border has had an enormous drop in border ...

US Attorney Warns He’ll Target Anyone Who Impedes Elon Musk’s DOGE

By Jack Phillips The acting U.S. attorney for the District of Columbia released a statement Monday assuring he will take legal action against any attempts ...

‘The Disaster After the Disaster’: Toxic Hazards Threaten LA Residents

By Beige Luciano-Adams LOS ANGELES—Anita Ghazarian and Simon Penny live in a house on the westernmost edge of Altadena—missed by the flames from the catastrophic ...

Trump Says Deal Reached to Delay Tariffs on Mexico for 1 Month

By Jackson Richman U.S. President Donald Trump and Mexican President Claudia Sheinbaum announced on Feb. 3 that they reached a deal to delay 25 percent ...

US Strikes Target ISIS Attack Planner in Somalia

By Andrew Thornebrooke U.S. military forces are conducting strikes in Somalia targeting elements of the local affiliate of the Islamist terror organization ISIS. An initial assessment ...

A Governor, a Justice, and a Family Bible: Landry Helps Swear In Kristi Noem

By Nathan Worcester and Jan Jekielek WASHINGTON—On the evening of Jan. 25, Louisiana Gov. Jeff Landry ended up in a memorable spot: in the home ...