Leading Economic Index (LEI) News

Economy

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

by USNN World NewsMay 18, 2025May 18, 2025

Economy

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

by USNN World NewsMay 17, 2025June 4, 2025

National News

Barclays Revises US Recession Outlook After China Trade Truce

by USNN World NewsMay 16, 2025May 16, 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

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

World

US Officials Say Deal Struck With China to Address Trade Deficit

by USNN World NewsMay 11, 2025June 4, 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

56 Arrested in Massachusetts Child Porn Sweep

By Jill McLaughlin Massachusetts authorities arrested 56 people across the state for alleged child pornography activities in a crime sweep dubbed “Operation Firewall,” state police ...

101 Missing Children in Memphis Rescued by US Marshals

By Jack Phillips The U.S. Marshals Service has located and returned dozens of missing children in Memphis, Tennessee, over the past several weeks, the law ...

ICE Has Received More Than 200,000 Job Applications: DHS

By Naveen Athrappully Immigration and Customs Enforcement (ICE) has received more than 200,000 job applications, the Department of Homeland Security (DHS) stated in an X ...

Arctic Blast Sweeps Into US, Bringing Early Snow and Record Lows

By Savannah Hulsey Pointer The first blast of Arctic air of the season pushed into the interior of the United States on Nov. 10. The ...

Federal Judge Dismisses Criminal Case Against Boeing for 737 MAX Crashes

By Arjun Singh Chief Judge Reed O’Connor of the U.S. District Court for the Northern District of Texas on Nov. 6 dismissed a federal criminal ...

Supreme Court Allows Trump’s Policy Requiring Sex at Birth on Passports

By Matthew Vadum The U.S. Supreme Court on Nov. 6 allowed the Trump administration to enforce its policy requiring the sex designation on a U.S. ...

Louisville Muhammad Ali International Airport to Reopen Wednesday Morning After Deadly UPS Crash

By Jacki Thrapp Smoke billowed through the air over the Louisville Muhammad Ali International Airport in Kentucky early Wednesday morning after a UPS cargo plane ...

At Least 7 Killed, 11 Injured in UPS Cargo Plane Crash in Kentucky

By Kimberly Hayek A UPS cargo plane crashed on Tuesday near Louisville Muhammad Ali International Airport (SDF) in Kentucky, killing at least seven and injuring ...

Cybersecurity Agents Accused of Working With Notorious Blackcat Hackers to Extort Firms

By Rachel Roberts Three rogue cybersecurity professionals ran a covert ransomware operation aimed at extorting companies across the United States by encrypting their networks, prosecutors ...

‘Massive Fraud’ Uncovered in Food Stamp Program, Says Agriculture Secretary as Benefits Lapse

By Jack Phillips Secretary of Agriculture Brooke Rollins on Sunday said that the Supplemental Nutrition Assistance Program (SNAP), or food stamps, is “a broken and ...

2 Men Charged for Allegedly Plotting ISIS-Linked Halloween Attack

By Jacob Burg Two men with links to the ISIS terrorist group who had purchased high-powered weapons and practiced at gun ranges were planning a ...

FBI Confirms 10 Missing Children, Teens Rescued in Hawaii Joint Operation

By Jack Phillips State and federal authorities announced on Thursday that an operation in Hawaii resulted in the rescue of 10 missing children and teens ...