CBS probes Moonves misconduct amid New Yorker story
CBS says independent directors are investigating claims of personal misconduct by Les Moonves after a New Yorker report detailing sexual harassment allegations. The stock fell sharply as investors feared leadership could change. The article notes a wider culture of misconduct at CBS and links to prior firings and industry movements.
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National Amusements
Viacom
Showtime
Beverly Hilton
Beverly Hills
Calif
Jordan Strauss
Invision
Can big spending sustain growth in a slowing economy
Americans boosted spending in spring driving growth to a 4.1 percent annual rate in April to June, the fastest in nearly four years. One time drivers include soybean exports and oil and gas investment, while higher borrowing costs and flat real wages raise questions. Sustained gains may hinge on saving strength, stockpiling, and demand, tempered by trade tensions with major partners and rate hikes.
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Washington
Federal Reserve
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