The Daily T: Trump vs Iran - Inside the situation room
So is the world on the brink of an even bigger war? Camilla and Battle Line's Roland Oliphant explore the global stakes, Tehran's potential retaliation and whether a diplomatic solution is off the table now.
And we ask KT McFarland, deputy national security advisor in President Trump's first administration, what his next next move might be and what does it mean for the rest of the world.
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NBC News
32 minutes ago
- NBC News
Tariffs and weaker beer demand are weighing on Modelo owner Constellation Brands
Constellation Brands on Tuesday reported quarterly earnings and revenue that missed analysts' estimates as beer demand slid and tariffs on aluminum weighed on its profitability. Still, the brewer reiterated its forecast for fiscal 2026, showing confidence that it can hit its financial targets despite the weaker-than-expected quarterly performance and higher duties. Shares of the company fell less than 1% in extended trading on Tuesday evening but rose 3% during morning trading on Wednesday after the company's conference call. The stock has shed more than 20% of its value this year, fueled by concerns about how the higher duties imposed by President Donald Trump would affect demand for its beer. Here's what the company reported compared with what Wall Street was expecting, based on a survey of analysts by LSEG: Earnings per share: $3.22 adjusted vs. $3.31 expected Revenue: $2.52 billion vs. $2.55 billion expected The report, which covers the three months ended May 31, includes the start of Trump's tariffs on canned beer imports in early April. He also hiked trade duties on aluminum to 25% in mid-March and to 50% in early June. Both imported beer and aluminum are crucial to Constellation's beer business, which accounts for roughly 80% of the company's overall revenue. Constellation's beer portfolio only includes Mexican imports, like Corona, Pacifico and Modelo Especial, which overtook Bud Light as the top-selling beer brand in the U.S. two years ago. Constellation reported fiscal first-quarter net income of $516.1 million, or $2.90 per share, down from $877 million, or $4.78 per share, a year earlier. Constellation's operating margin fell 150 basis points, or 1.5%, in the quarter, in part driven by higher aluminum costs. Excluding items, the brewer earned $3.22 per share. Net sales dropped 5.8% to $2.52 billion, fueled by weaker demand for its beer and the company's divestiture of Svedka vodka. Constellation is still facing softer consumer demand, CEO Bill Newlands said in a statement. He attributed the weaker sales to 'non-structural socioeconomic factors.' Constellation's beer business saw shipment volumes fall 3.3%, caused by weaker consumer demand. Last quarter, Newlands said Hispanic consumers were buying less of the company's beer because of fears over Trump's immigration policy. Roughly half of Constellation's beer sales come from Hispanic consumers, according to the company. But on Wednesday, Newlands demurred when asked about Hispanic consumer sentiment, saying that all shoppers are concerned about higher prices. 'When you see a fair amount of change, both Hispanic and non-Hispanic consumers are concerned about inflation and about cost structure,' Newlands said. He added that consumers aren't going out to eat as much and hosting fewer social occasions, which means they are drinking less beer. Still, he maintained that consumer interest in drinking beer hasn't waned; while shoppers' overall spending on beer has fallen, their relative spend on beer compared with their total grocery bill has held steady. For fiscal 2026, Constellation continues to expect comparable earnings per share of $12.60 to $12.90. The company is projecting that organic net sales will range from declining 2% to rising 1%.
NBC News
32 minutes ago
- NBC News
Jan. 6 defendant sentenced to life in prison for plotting to kill FBI special agents who investigated him
WASHINGTON — A Jan. 6 defendant who plotted to murder FBI special agents who investigated him over his actions at the Capitol was sentenced to life in prison on Wednesday. Edward Kelley was convicted in November of conspiracy to murder employees of the United States; solicitation to commit a crime of violence; and influencing or retaliating against federal officials by threat. President Donald Trump pardoned Kelley, alongside roughly 1,500 other Jan. 6 defendants, in January. Kelley's team argued that Trump's pardon should apply to his conduct in the murder plot. While the Justice Department had argued that the pardons should apply to separate gun cases against other Jan. 6 defendants, they said the pardon did not apply to Kelley's conduct. A federal judge ruled that Trump's pardon did not apply to the murder plot. Federal prosecutors sought life in prison for Kelley, calling him 'remorseless" and writing that he had "shown neither a capacity nor desire" to rehabilitate. "On the contrary, Kelley not only believes the actions for which he was convicted were justified but that his duty as a self-styled 'patriot' compelled him to target East Tennessee law enforcement for assassination,' federal prosecutors wrote in a sentencing memo. Kelley, prosecutors wrote, "committed crimes that are serious, violent, and all designed to achieve the same end: the murder of federal, state, and local law enforcement." Kelley "formed a self-styled militia to attack the FBI," and "conducted combat drills to realize his plan," they wrote. He "strategized ways to bomb the FBI Knoxville office" and "identified a 'hornet's nest' at which to store his various weapons at 'arms' reach.'" Kelley also "devised a kill list of individual agents to be targeted" and then "gave the go-ahead command — 'start it' — to his confederates, noting that 'every hit has to hurt.'" Kelley's lawyer wrote that "no individual was directly threatened with harm or violence by Kelley, and no one was injured" and that "Kelley does not deserve the same sentence as an actual 'terrorist' who injured or killed hundreds or thousands" of Americans. Austin Carter, who admitted that he conspired with Kelley in the murder plot and pleaded guilty, is scheduled to be sentenced next month.
Leader Live
38 minutes ago
- Leader Live
Benjamin Netanyahu vows ‘there will be no Hamas' in post-war Gaza
US President Donald Trump said on Tuesday that Israel had agreed on terms for a 60-day ceasefire in Gaza and urged Hamas to accept the deal before conditions worsen. The US leader has been increasing pressure on the Israeli government and Hamas to broker a ceasefire and hostage agreement, and bring about an end to the war. Hamas said in a brief statement on Wednesday that it had received a proposal from the mediators and was holding talks with them to 'bridge gaps' to return to the negotiating table to try to reach a ceasefire agreement. Mr Trump said the 60-day period would be used to work toward ending the war, something Israel says it will not accept until Hamas is defeated. He said that a deal might come together as soon as next week. But Hamas' response, which emphasised its demand that the war end, raised questions about whether the latest offer could materialise into an actual pause in fighting. Hamas official Taher al-Nunu said that the militant group was 'ready and serious regarding reaching an agreement'. He said Hamas was 'ready to accept any initiative that clearly leads to the complete end to the war'. A Hamas delegation is expected to meet Egyptian and Qatari mediators in Cairo on Wednesday to discuss the proposal, according to an Egyptian official. Hamas has said that it is willing to free the remaining 50 hostages, fewer than half of whom are said to be alive, in exchange for a complete Israeli withdrawal from Gaza and an end to the war. Israel says it will only agree to end the war if Hamas surrenders, disarms and exiles itself, something the group refuses to do. 'I am announcing to you, there will be no Hamas,' Mr Netanyahu said during a speech on Wednesday. An Israeli official said that the latest proposal calls for a 60-day deal that would include a partial Israeli withdrawal from Gaza and a surge in humanitarian aid to the territory.
