President Donald Trump said on Monday that China is ready to come back to the negotiating table and the two countries will start talking very seriously.Politicsread more
The escalating trade war between Washington and Beijing dominated discussions at the G-7 gathering in France.Politicsread more
China's state media is putting up a brave front as the country's trade war with the U.S. escalated sharply over the weekend.China Economyread more
The latest round of tariff announcements in the last few days means that by the end of the year, essentially all Chinese goods exported to the U.S. will be subject to duties.China Economyread more
U.S. stock futures surged Monday morning after President Trump said China is ready to come back to the negotiating table following a phone call Sunday and the two countries...Marketsread more
As Washington and Beijing continue to up the ante in their protracted trade fight, the potential of a recession in the U.S. is now "the biggest concern," according to Standard...US Economyread more
Tensions stemming from the U.S.-China trade war escalated sharply over the last few days, with much happening as Asian markets were shut down for the weekend.China Economyread more
Clouding the G-7 gathering, which represents the world's major industrial economies, are the tit-for-tat tariffs between Washington and Beijing.Politicsread more
Neither the U.S. nor China wants to be seen as the party that derailed trade talks, says William Reinsch of Center for Strategic and International Studies.World Economyread more
China said Friday it will be resuming 25% duties on U.S. autos, and a further 5% on auto parts and components.Asia Marketsread more
World leaders, environmental groups and celebrities have publicly decried the vast swaths of forest being destroyed by the fires.World Newsread more
"I think it's inevitable that Les is history at CBS, whether he takes a leave of absence or is dismissed outright, " Bibb said on CNBC's "Power Lunch " Monday, ahead of the CBS board's decision to seek outside counsel to investigate the allegations against Moonves.
The board, which made no decision about Moonves' role at the company, also said Monday afternoon that it's postponing its annual shareholder meeting, which had been scheduled for Aug. 10.
Bibb, managing partner of corporate finance at Mediatech Capital Partners, said Moonves' own statement regarding The New Yorker report on Friday could be "the final blow."
In a statement, Moonves, who has been the CEO of the network for more than two decades and chairman of the board since 2003, said, "I recognize that there were times decades ago when I may have made some women uncomfortable by making advances. Those were mistakes, and I regret them immensely. But I always understood and respected — and abided by the principle — that 'no' means 'no,' and I have never misused my position to harm or hinder anyone's career."
The New Yorker's article published Friday looked at the corporate culture at CBS and allegations of sexual misconduct against Moonves between the 1980s and 2000s.
Shares of CBS closed down another 5 percent Monday, on top of the 6 percent they lost Friday.
Meanwhile, Wall Street analyst Tuna Amobi downgraded the stock to hold.
"There's usually a cloud that kind of lingers when you get this type of announcement," Amobi, who works at investment research firm CFRA, said Monday in a separate "Power Lunch" interview.
"If you look back, the stock hasn't really done much the last couple of years," he said. "There's no questions that Les Moonves has a stellar track record. But having covered this stock, there's always this kind of disconnect between the fundamentals and the recent price action."
Amobi said he shares the view that Moonves is unlikely to last as CEO of the company following the allegations. But he added the odds of a CBS-Viacom merger have been "enhanced by this situation."
"Redstone is very likely to have her wish and be able to combine Viacom and CBS and then sell the combined companies," Bibb said.
CBS and Viacom were under the same umbrella from 2000 to 2006 before they were split into separate publicly traded companies.
CBS could not immediately be reached for comment.