CBS Ignores Ronan Farrow–Formed Elephant within the Room on Earnings Name

Les Moonves, who’s not going to speak about that factor you need him to speak about.

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Final Friday, The New Yorker published a story during which six girls accused CBS chief Les Moonves of sexual harassment spanning many years. So when the corporate introduced that he can be collaborating in Thursday’s earnings name, many puzzled whether or not he would take the time to handle the claims, or permit analysts to pepper him with questions on being an alleged monster who, Ronan Farrow reported, retaliated in opposition to girls who rebuffed his advances. (Moonves apologized in a press release for making “some girls uncomfortable,” however stated he “all the time understood and revered—and abided by the precept—that ‘no’ means ‘no.’”) At 4:30 P.M., analysts on the convention name got their answer:

Leslie Moonves, the chief govt of CBS, didn’t tackle misconduct allegations in opposition to him in the course of the firm’s earnings name on Thursday, his first alternative to talk publicly for the reason that allegations have been first made public . . . Moonves did communicate on the decision however focused on the financials of the corporate and its new tasks throughout his opening statements. Analysts on the decision requested questions concerning the firm’s financials and future however didn’t contact on the allegations.

Firstly of the decision, Adam Townsend, head of investor relations, informed listeners: “In mild of pending litigation and different issues, and on the recommendation of counsel, the scope of right this moment’s name and any questions will likely be restricted to the quarterly outcomes of the corporate.” Moonves was, however, joyful to debate Sacha Baron Cohen’s new satire mockumentary series, and all the cash CBS is going to make off of legalized gambling.

Paul Manafort spent thousands and thousands of {dollars} on hideous garments, Trump-esque landscaping

It’s day three of the Paul Manafort trial, and due to the truth that the previous Trump marketing campaign supervisor spent a big chunk of his allegedly ill-gotten positive factors on sartorial pursuits, prosecutors are nonetheless speaking about his garments. And amazingly, his $15,000 ostrich jacket and 80s-era double-breasted fits aren’t essentially the most objectionable objects in his closet. As an alternative, that honor goes to this $18,500 python jacket, which Paulie Walnuts apparently simply needed to have.

Elsewhere, jurors realized on Thursday that Manafort spent roughly half one million {dollars} on landscaping for his Hamptons residence, which included a man-made waterfall and a “pink flower mattress within the form of an ‘M,’” an concept we assume Trump goes to drive the Rose Backyard caretaker to implement ASAP.

China suggests the U.S. understand how f–king loopy it sounds

“We hope that these instantly concerned in the US’ commerce insurance policies can settle down, rigorously hearken to the voices of U.S. customers . . . and listen to the collective name of the worldwide neighborhood,” Wang Yi, the Chinese language authorities’s high diplomat, stated in Singapore a day after reports surfaced that the White Home is contemplating upping tariffs on $200 billion price of Chinese language imports from 10 % to 25 %, a transfer that might considerably ratchet up commerce tensions between two of the world’s largest economies. Speaking of which . . .

Agricultural companies throughout the U.S. are reeling from retaliatory tariffs sparked by President Donald Trump’s international commerce offensive—levies imposed on a variety of American items from soybeans and pork to ginseng and cranberries. The duties from buying and selling companions together with China, Canada, Mexico, and the European Union have deepened a downturn that was already sapping incomes within the U.S. Farm Belt.

“If the tariffs maintain, the near-term affect will likely be devastating to small companies each within the U.S. and the E.U.,” Randy Fairman, an agricultural marketing consultant, informed The Wall Road Journal. “There isn’t a place within the provide chain the place a 25-percent tariff may very well be absorbed.”

Trump administration unveils plan to (additional) destroy the setting

Someplace in Oklahoma, Scott Pruitt is shedding a silent tear as a result of he couldn’t be there to have a good time this joyous occasion:

The Trump administration on Thursday put forth its long-awaited proposal to freeze anti-pollution and fuel-efficiency requirements, considerably weakening one in all President Barack Obama’s signature insurance policies to fight international warming . . . The plan, collectively printed by the Environmental Safety Company and the Transportation Division, would roll again a 2012 rule that required automakers to almost double the gasoline financial system of passenger autos to a mean of about 54 miles per gallon by 2025. It might halt necessities that automakers construct cleaner, extra fuel-efficient vehicles together with hybrids and electrical autos.

Hilariously, the administration is making an attempt to promote its transfer to speed up local weather change as an try to save lives, claiming that scrapping the Obama-era guidelines will forestall greater than 12,700 deaths over a decade.

To help this declare, the proposal makes three primary arguments. First, individuals who purchase fuel-efficient autos will find yourself driving extra, rising the chances that they may get right into a crash. Second, the fuel-efficient autos will themselves be dearer, slowing the speed at which individuals purchase newer autos with superior security options. Third, automakers must make their vehicles lighter in response to rising requirements, barely hurting security.

Consultants say they’re stuffed with s–t. “I don’t know the way they’re going to defend this evaluation,” Antonio M. Bento, a professor of public coverage and economics on the College of Southern California, informed The New York Instances. “I simply don’t suppose it’s appropriate.”

Elsewhere!

Apple wins race to be first trillion-dollar firm (Financial Times)

High Trump Donor Agreed to Pay Michael Cohen $10 Million for Nuclear Mission Push (W.S.J.)

Ross Alerts Extra Tariff Ache Forward in China Commerce Battle (Bloomberg)

Trump’s Madman Principle of Commerce Negotiations Gained’t Win (Bloomberg)

Sonos Soars on Debut (W.S.J.)

Steve Bannon says he owns bitcoin and is engaged on his personal cryptocurrency (CNBC)

The Trump administration is headed for a big debt headache (CNBC)

Scotts Miracle-Gro C.E.O. lays into hashish unit over quarterly outcomes: ‘These bastards are gun-shy as s— proper now’ (CNBC)

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