Former CBS chief to pay $30m for hiding sexual assault allegations

Published

3 years ago

November 3, 2022

CBS leaders reportedly knew about allegations of sexual assault against its former chief executive

The Former Chief Executive of CBS, Les Moonves will pay $2.5 million to shareholders amid a string of sexual assault claims.

The broadcasting giant will pay $6 million towards sexual assault and harassment programs, while $22 million will be paid to shareholders.

The New York Attorney General’s Office found key executives at the network had a plot with the Los Angeles Police Department to hide the sexual assault allegations against Moonves.

One of the company’s executives sold part of their stock before the allegations against Moonves became public.

“As a publicly traded company, CBS failed its most basic duty to be honest and transparent with the public and investors,” Attorney General Letitia James said.

“After trying to bury the truth to protect their fortunes, today CBS and Leslie Moonves are paying millions of dollars for their wrongdoing.”
Letitia James, NEW YORK ATTORNEY GENERAL

CBS and Moonves also agreed to pay investors an additional $9.75 million to settle the New York Attorney General’s allegations.

As part of the settlement, neither party admits to wrongdoing.

A spokesperson for CBS, which is known as Paramount said the company was pleased to resolve the matter.

The spokesperson added the settlement “does not relate in any way to the current company.”

Wall Street hits record highs as markets shrug off Venezuela tensions

US markets hit record highs as investors shrug off geopolitical tensions, with the S&P 500 up 0.7% and Dow 1%.

Published

2 days ago

January 7, 2026

Harvey Vargas

US markets hit record highs as investors shrug off geopolitical tensions, with the S&P 500 up 0.7% and Dow 1%.

US markets surged to fresh records as investors looked past recent geopolitical tensions following the US attack on Venezuela. Confidence returned quickly, driving broad gains across major indices.

The S&P 500 climbed 0.7% to reach a new all-time intraday high, while the Dow Jones Industrial Average jumped 495 points, or 1%, also setting a record during Tuesday’s session.

The rally signals continued optimism around economic resilience, despite global uncertainty and ongoing international conflicts.

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Money

Dow hits record after U.S. military action in Venezuela

Dow Jones surged 600 points post-U.S. action in Venezuela, boosting energy stocks amid cautious gold futures rise.

Published

3 days ago

January 6, 2026

Harvey Vargas

Dow Jones surged 600 points post-U.S. action in Venezuela, boosting energy stocks amid cautious gold futures rise.

The Dow Jones Industrial Average surged nearly 600 points to a record close following U.S. military action in Venezuela. Investors responded positively, signalling confidence that the geopolitical situation would not spiral out of control.

Stocks rallied alongside rising crude oil prices, with energy companies like Chevron and Exxon Mobil leading the gains. Analysts noted that oil infrastructure rebuilding in Venezuela could provide long-term benefits for the sector.

Despite the bullish market reaction, gold futures also rose, suggesting that some traders remain cautious amid global uncertainties.

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Money

Wall Street eyes further gains in 2026 as rate cuts fuel optimism

Wall Street enters 2026 optimistic as falling interest rates and strong earnings drive stock market expectations amid economic resilience.

Published

4 days ago

January 5, 2026

Harvey Vargas

Wall Street enters 2026 optimistic as falling interest rates and strong earnings drive stock market expectations amid economic resilience.

Wall Street is entering 2026 with renewed confidence as falling interest rates and robust corporate earnings lift expectations for continued stock market gains. Analysts say an easier monetary policy is providing fresh momentum for equities after several strong years.

The US economy has continued to show resilience, with businesses maintaining healthy balance sheets and earnings growth holding up despite global uncertainty. Lower borrowing costs and supportive fiscal settings are expected to further boost investor sentiment.

However, market watchers remain cautious, warning that optimism could fade quickly if economic data disappoints or inflation pressures return.

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