Business
Stocks fell on Monday, with Tech and Consumer Discretionary leading to the downside, while Treasury yields rose in reaction to Moody’s downgrade of the US credit rating. Investors also digested tariff comments from Treasury Secretary Scott Bessent that signaled the trade war isn’t over. The Dow Jones Industrial Average (^DJI) fell about 0.6%. The S&P…
About a month ago, when Bill Owens resigned as the executive producer of “60 Minutes,” Wendy McMahon, the president of CBS News, said in a statement that she remained “committed to ‘60 Minutes’ and to ensuring that the mission and the work remain our priority.” A month later, McMahon is out, too. NBC News reported:…
Wendy McMahon, CEO of CBS News, speaks during the Axios BFD event in New York City, U.S., October 12, 2023. Photo: Brendan McDermid/Reuters Wendy McMahon, the president and CEO of CBS News and Stations and CBS News Ventures, announced Monday that she is stepping down from her role leading the company. The surprising move is…
After several weeks of sitting stagnant, mortgage rates surged higher Monday following Moody’s decision to downgrade the U.S. credit rating. Bond yields moved higher after the late Friday announcement, and mortgage rates loosely follow the yield on the 10-year Treasury. The average rate on the popular 30-year fixed loan hit 7.04% Monday, according to Mortgage…
CBS News President Wendy McMahon resigned on Monday. Here, McMahon (second from left) stands with former 60 Minutes Executive Producer Bill Owens and two of the show’s correspondents, Cecilia Vega and Scott Pelley, at the CBS fall schedule celebration held at Paramount Studios in May 2024. Gregg DeGuire/Variety via Getty Images/Variety hide caption toggle caption…
Asian equities declined Monday as investors reacted to weaker-than-expected Chinese economic data and fresh concerns over US credit risk. China’s National Bureau of Statistics reported April industrial output rose 6.1% year-over-year, slowing from 7.7% in March but beating forecasts. Retail sales climbed 5.1%, below the expected 5.5% and down from March’s 5.9%. Markets across the…
Asian equities declined Monday as investors reacted to weaker-than-expected Chinese economic data and fresh concerns over US credit risk. China’s National Bureau of Statistics reported April industrial output rose 6.1% year-over-year, slowing from 7.7% in March but beating forecasts. Retail sales climbed 5.1%, below the expected 5.5% and down from March’s 5.9%. Markets across the…
Wendy McMahon announced on Monday that she will step down from her role as president and CEO of CBS News and Stations and CBS Media Ventures. McMahon, who joined CBS in 2021 and has held the CEO role since 2023, called the job one of the most meaningful of her career, but noted the past…
Regeneron Pharmaceuticals on Monday announced it is buying 23andMe out of bankruptcy for $256 million – taking with it the company’s extensive trove of genetic samples and data. It will acquire 23andMe’s Personal Genome Service, Total Health and Research Services and its large biobank, including genetic data of more than 15 million customers – raising…
Lawyers for Trump and the media company are holding mediation talks about a potential settlement, news that has reportedly roiled staffers inside the network. Source link