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
CBS' board of directors is near completion of a settlement that would both end its litigation with its controlling shareholder National Amusements — and sever ties with long time CEO Leslie Moonves, according to people familiar with the situation.
The talks are described as fluid, but the parties hope to complete a settlement prior to the start of trading on Monday morning. The settlement talks are reaching their conclusion as new charges of sexual harassment against Moonves were detailed in a New Yorker article released Sunday morning.
Last week CNBC reported that Moonves had been negotiating an exit from CBS that would entitle him to roughly $100 million in severance. Sources now indicate that Moonves would exit the company without any additional compensation, pending the results of an investigation into charges of sexual misconduct detailed in two separate New Yorker articles, as well as any other findings of the investigators employed by CBS's board.
In a statement released to CNBC, CBS said it took the allegations against Moonves "very seriously. Our Board of Directors is conducting a thorough investigation of these matters, which is ongoing."
As CNBC previously reported, current COO of CBS Joe Ianniello is expected to take over as CEO on an interim basis. The settlement with CBS controlling shareholder National Amusements would end the litigation between the two parties, result in an expanded and refreshed board of directors at CBS, and prevent NAI from initiating a combination with Viacom for a period of 18 months.
It would not abridge NAI's rights to vote its control position on any other transaction undertaken by CBS, sources said. While in all negotiations of such complexity there is a possibility they will not reach fruition, the parties were focused on reaching an agreement prior to end of day Sunday.
Correction: The correct spelling of the name of CBS's COO is Joe Ianniello.