The economist thinks the Fed ought to pay more attention to financial markets when setting interest rates.The Fedread more
U.S. President Donald Trump's latest tariff increase — and Beijing's plans to counter them — are hitting U.S. companies in China, according to a joint survey this month by...China Economyread more
"We are also constantly watching whether the trade war will turn into a tech war," Ma said Tuesday, according to a CNBC translation of his Chinese remarks published by a locak...China Economyread more
Kohl's, J.C. Penney and Nordstrom release disappointing earnings news, putting a damper on their sector.Retailread more
Bezos's comments give a rare glimpse into his interest in the auto industry. Amazon recently invested in two self-driving start-ups.Technologyread more
While investing often seems like a contrarian game where going against the flow feels like the better bet, the reality is that investors who bought the most-favored stocks...Hedge Fundsread more
Talks between the world's two largest economies have stalled after each nation lobbied higher tariffs on the other's imports.Traderead more
"Pretty much the entire suite of apps that 'talk' over the internet could be vulnerable," said Tom Uren, a senior analyst at the Australian Strategic Policy Institute's...Cybersecurityread more
A Chinese official in Hong Kong is urging the quick passage of legal measures to allow fugitives to be transferred to the mainland.China Politicsread more
GAC Motor said its delaying its launch in the U.S. but had no timeline when it could launch there.Autosread more
The U.S. administration is considering limits to Chinese video surveillance firm Hikvision's ability to buy U.S. technology, the New York Times reported on Tuesday, deepening...World Politicsread more
The #MeToo movement is long overdue in Hollywood, said ex-powerhouse agent Michael Ovitz, whose talent agency effectively controlled Hollywood for much of the 1980s and 1990s.
"What's happening today is absolutely critically important to the entertainment business, to all businesses. I think that the brave women who have stood up to this — and they are brave because it's a system that does not forgive — are going to start a movement to change that's going to be really healthy for everybody," Orvitz said Tuesday during an exclusive with CNBC's Scott Wapner.
Once known as the most powerful man in Hollywood, Ovitz co-founded Creative Artists Agency (CAA) with partner Ron Meyer. The agency recruited and managed such star-studded talent as Steven Spielberg, Martin Scorsese, Meryl Streep, Arnold Schwarzenegger, Morgan Freeman and Robert DeNiro, among many others. After decades as a power broker, he became president of Disney, but was fired shortly after amid tension with former Disney CEO Michael Eisner. Since his departure from Disney in the late '90s, Ovitz has dabbled as a private investor in Silicon Valley.
Ovitz said the culture of sexual misconduct, exemplified by producer Harvey Weinstein, who has been charged with sex crimes, has long been a problem in Hollywood. Weinstein has pleaded not guilty to the charges.
"Hollywood has been in a problem since its inception. The term 'casting couch' wasn't invented yesterday. This whole concept has been around forever and it's always been swept under the rug," Ovitz said.
He said that at CAA, there wasn't quite as severe a problem with sexual misconduct since "40 percent of our staff were women."
"I have to say we didn't have as much of it at CAA as what you're experiencing now," Ovitz said on CNBC's "Halftime Report." "I loved women agents. I thought frankly, I shouldn't say this, but they were better than men. They had just a much greater ability to handle the clients."
Ovitz readily admits he and others at the agency didn't do as much as they should have, to address rumors of misconduct.
"We would hear things, we would follow up what we could, probably not as much as we should have," he said.
One of the #MeToo movement's most recent targets, former CBS President and CEO Les Moonves, was once a client of Ovitz. The two worked together with Michael Crichton and Steven Spielberg to put long-running NBC drama series "ER" on the air.
Ovitz described Moonves as "the most terrific guy," and said he "feels horrible for him" over his forced resignation from CBS. But, ultimately, Ovitz reserved judgement.
"Still I'm not sure I quite understand it all," he said.
Numerous women have accused Moonves of sexual assault, misconduct and abuse of power in alleged incidents ranging from the 1980s to early 2000s. Moonves stepped down as CBS chairman, president and chief executive officer in early September. He denies the allegations.
Ovitz is now promoting a new memoir, "Who is Michael Ovitz?" which details "a story of three valleys" — his childhood home, the San Fernando Valley, Silicon Valley and "a Valley I'd dug for myself," according to The New York Times.
Les Moonves did not immediately respond to CNBC's request for comment.
Disclosure: NBC and CNBC are divisions of NBCUniversal.