U.S. broadcasting and media company CBS Corp said it was investigating claims of personal misconduct by its chief executive Leslie Moonves made in a New Yorker magazine article that was published on Friday.
The allegations against Moonves surfaced as he is locked in a legal battle over control of CBS with the company’s largest shareholder, National Amusements Inc, owned by Shari Redstone and her father Sumner who also control media company Viacom (VIAB.O). The New Yorker report featured claims against Moonves from six women spanning different time periods over two decades, from 1985 to 2006. …read more […]
Institutional Shareholder Services Inc (ISS), a shareholder advisory firm whose recommendations are followed by major mutual funds, said on Friday that Rite Aid Corp investors should vote down its $24 billion merger with Albertsons Cos.
The ISS report is a blow to grocery chain Albertsons and its majority owner, private equity firm Cerberus Capital Management LP, which are hoping that acquiring Rite Aid, a drug retailer, will help win new business amid pressure from retail giants Amazon.com Inc and Walmart Inc . “It does not appear that Rite Aid shareholders would receive a fair ownership interest in the combined company, a concern heightened by potential conflicts of interest during the negotiation process and apparently reflected in the company’s underperformance since announcement,” the ISS report said. …read more […]
An agreement by the European Union to increase soy imports from the United States will not harm EU farmers, German Agriculture Minister Julia Kloeckner said in an interview published on Saturday.
China’s retaliatory tariffs on soybeans, which was designed to hurt Trump’s voter base, has helped to boost the U.S.’s second-quarter GDP. …read more […]
Stephen Mancebo, a fourth-generation California dairy farmer with 2,300 cows, has battled ups and downs in his temperamental industry for a quarter-century only to find himself a casualty of a U.S trade war with one of his biggest customers – Mexico.
Now that 21st Century Fox Inc. shareholders have signed off on the $71.3 billion sale of its entertainment assets to Walt Disney Co., some investors are already fretting about the next hurdle: regulatory … …read more […]
Investors are taking a cautious stance ahead of earnings next week and an ongoing trade spat with China. …read more […]
And here’s why they’re right. …read more […]
Facebook Inc and its chief executive Mark Zuckerberg were sued on Friday in what could be the first of many lawsuits over a disappointing earnings announcement by the social media company that wiped out about $120 billion of shareholder wealth.
See why these three stocks fell harder than the overall market. …read more […]
A shareholder of Facebook Inc on Friday filed the first of what could be many lawsuits against the social media company and Chief Executive Mark Zuckerberg following a 19 percent one-day plunge in Facebook’s share price.
Top BlackRock Inc bond investor Rick Rieder halved exposure in recent months to a once-major bet in his portfolios on emerging markets on concerns including that the dollar could move higher, he told Reuters on Friday.
The claims against Moonves involve incidents that go back, in part, more than 20 years, the Hollywood Reporter said earlier on Friday, citing sources with knowledge of the matter and the New Yorker magazine story who it did not identify. “Upon the conclusion of that investigation, which involves recently reported allegations that go back several decades, the board will promptly review the findings and take appropriate action,” CBS said in a statement. Moonves and the New Yorker did not immediately respond to requests for comment. …read more […]
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