The Republican-led Senate passed legislation opposing President Donald Trump’s sweeping global tariffs, its third vote this week rebuking the White House’s trade policies https://t.co/BhlIuz7M8g ...

the last word with Lawrence. So, Donald starts right now. Hey, Lawrence. >> Hey, Jen. Uh, I heard your discussion uh earlier tonight about the difference between uh you approaching confirmation hearings uh during your experience in the White House and the Trump world approaching confirmation hearings, which is the most absurd version of it you could imagine. >> I mean, Lawrence, I had hundreds of pages of vetting documents. We had meetings until 1 and two in the morning. These nominees before they even beca ...

It is day 283 of the second Trump administration and right now President Trump's highly anticipated meeting with his Chinese counterpart Xi Jinping is underway in South Korea. The leaders of the world's two largest economies are discussing a trade truce after months and months of turmoil. Here's what we just heard moments ago as their meeting kicked off.>> We will be having some discussions. I think we've already agreed to a lot of things and we'll agree to some more right now. But uh President Xi is a grea ...

Economic & Financial Market Analysis - The Federal Reserve cut its benchmark interest rate by a quarter of a percentage point (025%) for the second consecutive time this year to spur demand in the economy [1] - The Federal Reserve is concerned about the labor market slowdown, with companies like UPS (over 40,000 jobs) and Amazon (over 10,000 jobs) announcing layoffs [1] - The government shutdown delayed the release of important federal government data, impacting the Federal Reserve's decision-making process [1] - Two members of the Federal Reserve's decision-making body did not support the interest rate cut, with one advocating for no cut and another for a steeper cut of half a percentage point (05%) [2] US-China Trade Relations - The US and China have agreed to a framework for a trade deal, with potential discussion points including lower tariffs, easier access to rare earth minerals, and harder measures against fentanyl [1][2] - The United States would likely hold off on the 100% tariffs that President Trump threatened recently, so we'll probably have tariffs around 55% [3] - China will delay imposing its rare earth export controls on the United States, currently, it's scheduled to begin in December 2025, but China could push it for another year if likely fenol be part of the deal [3] - President Trump is not going to completely get rid of the 20% fentanyl tariff but maybe go down to as low as 10% [3] - China has purchased about 180,000 metric tons of fentanyl, which is still less than 1% of its total purchases from 2024, but that's a good sign [3] US Government Shutdown - The government shutdown is in its 29th day, with funding for critical food assistance programs for tens of millions of Americans set to lapse in just two days [3] - The largest union representing federal workers is calling on Congress to pass a clean short-term funding bill to reopen the government [3] - 65% of Americans live from paycheck to paycheck [4] Hurricane Melissa Impact - Hurricane Melissa made landfall in Cuba as a category 3 hurricane, with forecasters warning of a storm surge of up to 12 feet, leading to the evacuation of more than 700,000 people [22] - Hurricane Melissa made landfall in Jamaica as a Cat 5 storm with winds of 185 miles per hour, leaving more than 3/4 of the entire country without electricity [22][23] - Over 200,000 people were evacuated in Holin Province [27]

The Republican-controlled Senate narrowly advanced a bill to end Donald Trump’s tariffs on Canada, highlighting GOP divisions over the duties https://t.co/s3nmuIyGkv ...

JUST IN: 🇺🇸 Fed Chair Jerome Powell says tariffs are pushing up prices of goods. ...

JOE: COUNTING DOWN TO THE FED AND MEETING OF THE MINDS. WE APPROACH THE FED’S INTEREST RATES AND PRESIDENT TRUMP MEETING WITH PRESIDENT XI. WE WILL GET AN UPDATE FROM SOUTH KOREA AS HE MAX HAS WAY THROUGH THE SUMMIT AND WE WILL HAVE A MECHANICAL PANEL AND BY THE TIME THIS HOUR IS DONE WE WILL HAVE SPECIAL COVERAGE ON WASHINGTON.WE HAVE THE LATEST ON THE TRADE AS WE GET SET FOR AN INTEREST RATE CUT. >> YOU ARE RIGHT ON THAT. ONE HOUR FROM NOW WE HAVE YOU COVERED ON BLOOMBERG TELEVISION AND RADIO WITH MICHAEL ...

Financial Data and Key Metrics Changes - Shipments increased by 6% to 373,000 tons compared to Q3 2024, driven by higher shipments across all operating segments [7] - Revenue rose by 20% to $2.2 billion compared to Q3 2024, attributed to higher shipments and increased revenue per tonne, including higher metal prices [7] - Net income surged to $88 million from $8 million in Q3 last year, primarily due to higher gross profit [8] - Adjusted EBITDA increased by 85% to $235 million, with a record adjusted EBITDA of $196 million when excluding the impact of metal price lag [8][9] - Free cash flow was strong at $30 million for the quarter [8] Business Line Data and Key Metrics Changes - A&T segment adjusted EBITDA rose by 67% to $90 million, with TID shipments up 16% but aerospace shipments down 9% [13][14] - Packaging segment adjusted EBITDA increased by 14% to $82 million, with packaging shipments up 11% despite a 13% decrease in automotive shipments [15] - AS&I segment adjusted EBITDA skyrocketed by 371% to $33 million, with shipments up 40% despite a 7% decline in automotive shipments [16] Market Data and Key Metrics Changes - Aerospace market shows record backlogs and stable demand, with major OEMs increasing build rates [24] - Packaging demand remains healthy in North America and Europe, with long-term growth expected [25] - Automotive production in Europe remains below pre-COVID levels, with weak demand particularly in luxury and electric vehicle segments [27] Company Strategy and Development Direction - The company is focused on high value-added products, enhancing customer connectivity, and optimizing margins [23] - Continued emphasis on cost control and free cash flow generation amid uncertain economic conditions [9][30] - Long-term targets include adjusted EBITDA of $900 million and free cash flow of $300 million by 2028 [31] Management's Comments on Operating Environment and Future Outlook - Management remains optimistic about the long-term fundamentals driving aerospace demand despite current challenges [24] - The company is proactively managing its business in light of tariff impacts and market uncertainties [30] - There is a belief that the current trade policies will be a net positive for the company [10][11] Other Important Information - The company completed a divestment of its Nanjing Automotive Structures plant during the quarter [9] - Leadership transition is planned, with Ingrid Joerg set to become CEO in 2026 [5][6] Q&A Session Summary Question: Impact of scrap spread changes - Management discussed the significant fluctuations in scrap spreads, indicating a potential positive impact in future quarters [35][39] Question: Aerospace margin modeling - Management highlighted the strong margin profile in aerospace and the importance of their diverse product portfolio [46][54] Question: Drivers for 2025 guidance - Management provided insights into customer compensation, accounting adjustments, and the impact of scrap spreads on guidance [60][64] Question: Recovery trajectory in aerospace - Management expressed optimism about a faster recovery in the aerospace supply chain than previously anticipated [67][70] Question: Broader European market outlook - Management noted mixed signals in the European market, with some sectors performing well while others remain weak [78][81]

The last word with Lawrence O'Donnell who is back starts right now. Hi Lawrence. >> Hey Jen. Um I haven't taken any uh what animals that questions uh lately. Uh I don't remember them being too tough uh whenever I did take them. That's for sure. >> Me neither. We could pass those with flying colors. I'm fairly certain. But we wouldn't be given them so frequently. I don't think either. >> Uh it is. You're seeing madness at work every day down there. >> No question about it. >> Right. Thanks, Jen. Thanks, Lawr ...

Trade Relations - US expects to lower tariffs imposed on Chinese goods due to the fentanyl crisis [1] Technology - Discussion planned with China's Xi regarding Nvidia's flagship Blackwell AI chip [1]