USNN World News

Economy

The Fed Fears Inflation While Ignoring Deflation

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Economy

Student Loan Delinquencies Soar as Pandemic-Era Protections Expire

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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

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Economy

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How Major US Stock Indexes Fared May 7

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How Major US Stock Indexes Fared May 6

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

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Economy

Trump Says Americans Should Be Patient After US Economy Contracts

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NATIONAL NEWS

Key Takeaways From Secret Service Chief’s Testimony on Trump Shooting

By Samantha Flom and Arjun Singh WASHINGTON—The House Oversight Committee kicked off its investigation of the attempted assassination of former President Donald Trump on July ...

Chicago Mail Carrier Killed on Her Route

By The Associated Press CHICAGO— A mail carrier was fatally shot while walking a route in Chicago, authorities said. Investigators at the U.S. Postal Service are ...

Secret Service Director Admits ‘Significant Operational Failure’ in Trump Assassination Attempt

By Jack Phillips The director of the U.S. Secret Service told a House panel on Monday that her agency failed during the assassination attempt targeting ...

After Biden Exits 2024 Race, Harris Scores Commanding Endorsements

By Ivan Pentchoukov, Emel Akan and Jacob Burg Vice President Kamala Harris secured a commanding list of endorsements for her presidential nomination bid in the ...

America in Brief: Hunter Biden Uses Trump Ruling to Appeal Conviction

By Stuart Liess U.S. President Joe Biden’s son, Hunter Biden, is appealing to have his recent conviction overturned, citing the appeals court ruling earlier this ...

Trump Says He Was Not Warned of Would-Be Assassin on Roof Before Speaking at Rally

By Jack Phillips Former President Donald Trump that he was not told about a gunman on the roof of a building before he was shot ...

Biden Drops Out of Presidential Race: What’s Next?

By Jacob Burg and Emel Akan President Joe Biden pulled out of the 2024 presidential race on July 21 and immediately endorsed Vice President ...

New Hampshire Bans Transgender Procedures for Children, Reserves Girls’ Sports for Females

By Bill Pan New Hampshire Gov. Chris Sununu on July 19 signed three bills and vetoed one that affect how schools, businesses, and medical establishments ...

Former White House Doctor Reveals Details of Trump Injury in Assassination Attempt

By Tom Ozimek A week after the assassination attempt on former President Donald Trump, former White House physician and current Rep. Ronny Jackson (R-Texas) issued ...

Jason Aldean, Hulk Hogan, Other Celebrities Appear at RNC to Support Trump

By Audrey Enjoli A handful of entertainers, celebrities, and other high-profile figures were among the tens of thousands who descended on Milwaukee, Wisconsin, this week ...

Biden’s Doctor Provides Medical Update

By Jacob Burg President Joe Biden’s White House physician, Dr. Kevin O’Connor, released a letter on July 18 with an update on the president’s COVID-19 ...

Some States Embrace CO2 Cap-and-Trade Schemes, Others Reject Them

By Kevin Stocklin The United States is following Europe’s lead in instituting cap-and-trade regimes to reduce CO2 emissions, but America’s journey is split between two ...