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Is Zucker’s exit a huge loss for CNN?

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Jeff Zucker has as the president of CNN and the chairman of WarnerMedia’s news and sports division, writing in a memo that he had failed to disclose to the company a romantic relationship with another senior executive at CNN

The 56 year old Zucker is among the most powerful leaders in the American media and television industries.

A huge loss for CNN, which has being going through so much turmoil over the last year.

Zucker said in a memo to colleagues that he was “wrong” to not report the relationship as required.

Zucker did not name his colleague, but the relationship is with Allison Gollust, who was a friend of Zucker’s for the last two decades.

Gollust is remaining at CNN

Zucker’s announcement came less than two months after he fired prime time anchor Chris Cuomo for advising his brother, Andrew Cuomo, about how to address sexual misconduct allegations.

The relationship was discovered during an investigation into the conduct of fired CNN anchor Chris Cuomo.

“As part of the investigation into Chris Cuomo’s tenure at CNN, I was asked about a consensual relationship with my closest colleague, someone I have worked with for more than 20 years,” Zucker told employees in a memo.

“I acknowledged the relationship evolved in recent years. I was required to disclose it when it began but I didn’t. I was wrong. As a result, I am resigning today.”

“Jeff and I have been close friends and professional partners for over 20 years,” she said in a statement quoted by Mr Stelter on air.

“Recently, our relationship changed during Covid. I regret that we didn’t disclose it at the right time.”

But where too next for Zucker?

News of Zucker’s resignation sent shockwaves inside CNN and across the industry.

Zucker and Gollust began working together at NBC in 1998.

Gollust intends to stay at the network while Zucker departs, she is currently the executive vice president and chief marketing officer at CNN.

He joined CNN in 2013. He was successful in his role as chief, breaking viewership records in 2020 and saw the most viewers in its history during January 2021.

Under Zucker, CNN adopted a “Facts First” slogan and approach to the news and was “unrelenting in calling out Trump for his lies”, reports CNN business.

However, viewership has gone down.

Audience viewership has fallen nearly 90 percent this January compared to the same time last year, according to Nielsen ratings.

Zucker’s departure throws the network into even more turmoil, with the next steps for Zucker still unknown.

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Stocks rally ahead of Thanksgiving as markets log four days of gains

Markets gain momentum ahead of Thanksgiving, with the Dow up 388 points and Oracle rising 4% amid investor optimism.

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Markets gain momentum ahead of Thanksgiving, with the Dow up 388 points and Oracle rising 4% amid investor optimism.


Markets are moving into the Thanksgiving break with strong momentum, as stocks notch four straight days of gains. The Dow Jones Industrial Average jumped 388 points, while the S&P 500 added 0.9%, pushing both indexes toward their best week since June.

Oracle led major movers, rising more than 4% after Deutsche Bank reaffirmed its bullish outlook on the tech giant. Broad investor optimism continues building across sectors as economic data softens and earnings remain resilient.

All eyes are now on the Federal Reserve and what potential shifts in interest-rate policy may mean for the markets. U.S. markets will close Thursday for the Thanksgiving holiday and reopen Friday for a shortened trading session.

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#Markets #Stocks #Thanksgiving #DowJones #SP500 #Oracle #FederalReserve #FinanceNews


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Dow surges 500 points amid rate cut optimism

Dow jumps 569 points on fresh hopes for December rate cut and AI market optimism

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Dow jumps 569 points on fresh hopes for December rate cut and AI market optimism

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In Short:
– Dow Jones rose 569 points, reflecting optimism for a Federal Reserve interest rate cut.
– Alphabet’s stock increased as Meta may invest in AI chips, but Nvidia’s declined amid market concerns.
The Dow Jones Industrial Average increased by 569 points or 1.2% on Tuesday, reflecting investor optimism for an upcoming Federal Reserve interest rate cut. The S&P 500 and Nasdaq Composite also posted gains, up 0.8% and 0.4% respectively. This represented a recovery from earlier losses, where the S&P 500 briefly fell by 0.7%.Banner

Markets anticipate an 85% chance of a quarter-point rate cut in December, driven by comments from New York Fed President John Williams, who indicated the possibility of lower rates soon. Investor sentiment strengthened following reports that Kevin Hassett may be appointed as the next Fed chair, potentially resulting in a more lenient monetary policy.

Tech Sector

Alphabet saw its stock rise by over 1% after reports indicated that Meta Platforms might invest in its AI chips. This could signal increased demand for AI technology, benefiting the sector overall. However, Nvidia’s stock fell more than 3%, suggesting concerns about its dominance in the AI chip market.

Investors are also wary of the valuation of tech stocks. Despite recent gains, the S&P 500 and Nasdaq remain down over 1% and 3%, respectively, for November, while the Dow has lost more than 1% this month. The broader market’s performance indicates ongoing scrutiny regarding tech valuations amid changing economic expectations.


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Gold prices surge as Central Banks buy big, but risks grow ahead

Gold prices surge as central banks increase demand; risks include a stronger dollar and rising interest rates.

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Gold prices surge as central banks increase demand; risks include a stronger dollar and rising interest rates.


Gold prices are climbing fast as central banks ramp up buying, pushing demand to its highest levels in years. The metal’s reputation as a safe haven is strengthening, especially amid rising geopolitical tensions and global financial uncertainty.

But experts warn the shine could fade. A stronger US dollar and the possibility of rising interest rates may weigh on momentum, making investors question how long the rally can last.

Dr Steven Enticott from CIA Tax breaks down the drivers behind gold’s surge—from ETF inflows to physical bar demand—and what could send the price sharply higher… or lower.

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#gold #markets #centralbanks #economy #finance #investing #interestRates #usdollar


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