I mean, how since since you're here, you know, we we want to talk to you about your role, of course, and some of what you have on your plate, which is a lot, including the trade negotiations. Who are which ones are you most focused on right now? Well, we have we're going to sort out India. You know, India basically has to open their market, has to stop buying Russian oil. You know, people don't remember India didn't buy Russian oil before the war with Russia and Ukraine. They had 1% of their oil was from Ru ...

Trade Policy & Geopolitics - Mexico plans to impose a 50% tariff on Chinese-made vehicles, especially electric vehicles [1] - This action is partly to align with the USMCA renegotiation and avoid being perceived as enabling unfair competition against American vehicles [2] - The tariffs aim to address the influx of Chinese EVs into Mexico, which are restricted in other markets like the US, Canada, and the EU [2] Automotive Industry - Chinese EV manufacturers like BYD have been using Mexico as a significant market due to trade barriers elsewhere [2] - The USMCA region's automotive supply chains extend across Canada, the US, and Mexico [2]

Is there a stagflationary-like mix coming together here on the date of the U.S.. Yeah. So I think we're getting what we expected on inflation. We're getting some pass through of tariffs.It looks like it's predominantly the farming categories are in goods and otherwise things look a little bit better. I think the more concerning news from the data this morning is the jump in claims It's been relatively contained despite the labor market, you know, really slowing to a halt over the last year. And now the jump ...

Financial Data and Key Metrics Changes - Net sales for Q1 FY 2026 were $50.7 million, down from $56.5 million in the prior year, primarily due to market softness and tariff-related shipment pauses [21] - Gross profit increased to $7.2 million (14.3% of sales) from $5.1 million (9% of sales) year-over-year, reflecting a 530 basis point improvement driven by restructuring benefits [21] - Operating income for the quarter was $1.6 million, compared to a loss of $6.9 million in the prior year [21] - Net loss was $231,000 ($0.02 per diluted share), significantly improved from a net loss of $7.3 million ($0.58 per diluted share) in the prior year [22] Business Line Data and Key Metrics Changes - Bedding segment sales were $28 million, flat compared to the previous year, with gross profit improving to $2.9 million (10.5% of sales) from a loss of $326,000 (-1.2% of sales) [24] - Upholstery segment sales decreased by approximately 20% to $22.6 million from $28.5 million, with gross profit at $4.3 million (18.9% of sales), down from $5.5 million (19.4% of sales) [25][26] Market Data and Key Metrics Changes - The home furnishings industry remains in a down cycle, but analysts suggest that mattress demand may be close to bottoming out, with potential for recovery driven by product replacement and household formation [8][9] - The upholstery segment faced challenges due to high tariffs on imports from China, which temporarily halted shipments and impacted sales [11][12] Company Strategy and Development Direction - The company is focused on restructuring and integration initiatives to improve operating efficiency and profitability, with expectations for sequential sales growth throughout FY 2026 [31] - Project Blaze aims to unify operations and share resources across divisions, enhancing overall operational efficiency [16] - The company is strategically positioned to capitalize on market recovery by maintaining capacity and leveraging competitive advantages in supply chain management [19][44] Management's Comments on Operating Environment and Future Outlook - Management acknowledges the ongoing challenges from tariffs and market conditions but expresses confidence in the company's ability to navigate these issues and improve profitability [9][31] - The company anticipates sequential growth in sales and adjusted EBITDA results moving towards breakeven or slightly positive for Q2 FY 2026 [31] - Management emphasizes the importance of maintaining flexibility in operations to adapt to changing market demands [43] Other Important Information - The effective income tax rate for Q1 FY 2026 was 120.3%, influenced by the gain on the sale of the Canadian manufacturing facility [23] - The company reported $11.1 million in cash and $18.1 million in outstanding debt, maintaining a net debt position of $7.1 million [26][28] Q&A Session Summary Question: Are all known tariff impacts accounted for in your initiatives? - Management believes they can take tariffs off the immediate worry list, having adjusted pricing and operations to manage the current environment effectively [35] Question: What is the pricing elasticity in the current market? - Management acknowledges the competitive nature of the business but is working to pass through necessary price increases to cover tariffs and improve margins [37] Question: How far along is the realization of the $18 million in initiatives? - Management indicates that the $10-$11 million from the previous year's restructuring is fully implemented, while other initiatives will impact the back half of FY 2026 [38][39] Question: How does the current market dip compare to past downturns? - Management notes that while down cycles are common, the current period has been prolonged, but they remain confident in a market recovery [40][42] Question: Will the company be able to meet demand if it turns? - Management asserts that they have not limited capacity and can grow as needed, leveraging existing resources to meet potential demand increases [43][44] Question: What is the estimated market value of real estate and the future use of NOLs? - The net book value of the real estate is approximately $12 million, with an estimated market value of $40-$45 million, while NOLs will provide future tax benefits once profitability is achieved [45][46]

Economic Outlook - The U.S. economy is showing signs of softening, with several CEOs indicating a potential slowdown ahead of the Federal Reserve's decision [2][3][6] - Goldman Sachs CEO David Solomon noted that while the economy is still progressing, there are signals suggesting a shift [2][4] - JPMorgan Chase CEO Jamie Dimon expressed concerns about the economy weakening, stating uncertainty about whether it is heading towards a recession [5][6] Labor Market Insights - The Bureau of Labor Statistics (BLS) revised its nonfarm payrolls data, showing a significant drop of 911,000 from initial estimates, marking the largest shift in over 20 years [1] - Job creation in August was weak, with nonfarm payrolls increasing by only 22,000 [8] - Wells Fargo CEO Charles Scharf highlighted a growing disparity between higher-income and lower-income consumers, indicating economic struggles for the latter [7] Federal Reserve Expectations - There is a consensus among CEOs that the Federal Reserve is likely to cut interest rates, with expectations of a 25-basis point reduction [4][10] - Barclays CEO C. S. Venkatakrishnan mentioned that the Fed's decision may be influenced by the softness in the labor market [10] - PNC Financial Services CEO Bill Demchak noted underlying pressures in the economy that could lead to rate cuts despite consumer spending driving growth [12]

Fast Company Innovation Festival Ticket Giveaway—Enter now! LOGIN SUBSCRIBE | FastCo Works advertisement BYÂ Reuters Listen to this ArticleMore info 0:00 / 0:00 | Fast Company Newsletters A 0.2% drop in the prices of services accounted for the fall in the PPI. That followed a 0.7% rebound in July. Services were last month held down by a 1.7% decline in margins for trade services, reflecting a 3.9% decrease in margins for machinery and vehicle wholesaling. Premium Design Tech Work Life News Impact Podcasts V ...

Core Points - The European Central Bank (ECB) is maintaining its key deposit rate at 2% as it awaits more clarity on the impact of U.S. tariffs on growth and inflation [2][4] - The ECB has reduced rates eight times since June 2024, contrasting with the Federal Reserve's reluctance to cut rates, which has drawn criticism from President Trump [2][3] - Eurozone growth was only 0.1% in the second quarter, affected by U.S. tariffs of 15% on most goods from the bloc, although the labor market remains strong [5][6] Economic Forecasts - The ECB has raised its growth forecast for 2023 to 1.2% but lowered its forecast for 2026 to 1% [6] - Inflation forecasts have been slightly adjusted, with the ECB predicting inflation at 2.1% for this year, just above its 2% target, and a decrease to 1.7% next year [7] Inflation Outlook - The ECB is uncertain about how U.S. tariffs will influence inflation, with scenarios indicating that trade levies could either increase or decrease price pressures [8]

Summary of Key Points from the Global Economic Briefing Industry or Company Involved - The document pertains to global economic analysis and insights provided by Morgan Stanley, focusing on various regions including the US, Euro area, Japan, China, India, and others. Core Insights and Arguments 1. **US Economic Outlook** - The US GDP growth for 2Q25 was revised up to 3.3% quarter-over-quarter, driven by stronger private consumption and business investment [38] - Domestic demand in the US averaged 1.9% quarter-over-quarter SAAR in the first half of the year, down from 3.2% in the second half of 2024 [18] - Employment trends have sharply decelerated, with job growth dropping from an average of 123k (Jan-Apr) to just 27k (May-Aug) [38] - The Federal Reserve is expected to initiate rate cuts starting in September, with a baseline forecast of a 25 basis point cut [22][38] 2. **Euro Area Economic Stability** - Euro area GDP growth was stable in the first half of the year, with a forecast of 0.1% growth in 3Q25 [40] - The ECB is expected to cut rates in December and March, with a terminal rate of 1.5% [39][40] 3. **Japan's Economic Focus** - Japan's economy continues to show nominal growth, with 2Q GDP rising by 1.0% quarter-over-quarter [38] - The political situation following the Prime Minister's resignation has raised questions about future fiscal policy [19] 4. **China's Growth and Inflation** - China's GDP growth surprised to the upside in the first half of the year, but a slowdown is expected in the second half due to reduced stimulus [20] - Persistent PPI deflation continues to weigh on CPI, with expectations of a gradual recovery in inflation [20][45] 5. **India's Economic Resilience** - Domestic demand and supportive monetary and fiscal policies are expected to offset a weaker external outlook [21][46] - India's GDP growth for 2Q25 was reported at 7.8% year-over-year, with supportive government spending contributing to growth [46] 6. **Global Tariff Dynamics** - Legal challenges have brought tariffs back into focus, affecting sector-specific tariffs and global supply chain realignment [25] - The effective tariff rate on US imports rose to 9.6% in July, indicating a gradual convergence towards expected ranges [32] Other Important but Potentially Overlooked Content 1. **Labor Market Concerns** - The US labor market shows signs of a downshift in hiring, with tight immigration policies curbing labor supply growth [38] - The August employment report indicates risks around the outlook for rate cuts, with potential for cuts at consecutive meetings [23] 2. **Inflation Trends** - Core PCE inflation in the US is trending higher, suggesting a reacceleration of inflation from last year [38] - In the Euro area, inflation is expected to undershoot the ECB's target in 2026, with services inflation cooling [39] 3. **Monetary Policy Adjustments** - The BoE is expected to cut rates further in November and December, with a terminal rate of 2.75% [43] - The BoJ is likely to maintain its policy rate through 2026, despite political distractions [19] 4. **Global Economic Interdependencies** - The interconnectedness of global economies is highlighted, with trade dynamics and tariff impacts influencing growth trajectories across regions [25][26] This summary encapsulates the key insights and arguments presented in the Global Economic Briefing, providing a comprehensive overview of the current economic landscape across various regions.

Joining us right now is our special guest, David Rubenstein. He's co-founder and co-chairman of the Carile Group. He's also the owner of the Baltimore Orioles.And David, there are so many directions we could go with you. I was thinking about starting with inflation because we have a consumer price index coming up in a about an hour and a half. But you sat down and started talking about some numbers that you looked back.We're celebrating our 30th anniversary and you looked back 30 years ago. Uh what struck y ...

>> IT IS 5:00 A. M. IN NEW YORK CITY.I AM VONNIE QUINN WITH YOUR BLOOMBERG BRIEF. COUNTDOWN TO CPI, STOCKS STUDY AHEAD OF THE KEY INFLATION DATA PRINT. THREE RATE CUTS ALMOST FULLY PRICED IN.FROM TARIFF IMPACTS TO COMPETITION WITH CHINA, DO NOT MISS OUR INTERVIEW WITH UBS CEO. A MANHUNT UNDERWAY UNDER THE -- AFTER THE FBI RELEASES SOMEONE WHO HAD BEEN A PURSE -- A PERSON OF INTEREST IN THE KILLING. LET US GET TO THE MARKETS.FUTURES ARE HIGHER AFTER ORACLE SURGED 36%. ORACLE NOT IN THE NASDAQ OR THE NASDAQ 1 ...