Money
Is Zucker’s exit a huge loss for CNN?
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.
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.
Money
Markets tumble as Trump tariffs, Greenland rhetoric and Europe backlash collide
U.S. stocks plummet over 800 points amid renewed tariff threats and political tensions from Trump, sparking global trade concerns.
U.S. stocks plummet over 800 points amid renewed tariff threats and political tensions from Trump, sparking global trade concerns.
U.S. equities took a sharp hit as markets reacted to renewed tariff threats and heightened political rhetoric from President Donald Trump. The Dow plunged more than 800 points, with the S&P 500 and Nasdaq also sliding as investor nerves rattled risk assets.
The sell-off highlights growing concern around global trade tensions and geopolitical uncertainty, with markets struggling to price in what comes next for U.S. economic leadership and policy direction.
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Money
Gold hits record highs as investors flee risk
Gold surges amid global uncertainty, with February futures rising 1.71% to $4,674.20 per ounce, signaling safe-haven demand.
Gold surges amid global uncertainty, with February futures rising 1.71% to $4,674.20 per ounce, signaling safe-haven demand.
Gold is shining brighter than ever as investors flock to safe-haven assets amid global uncertainty. U.S. gold futures for February delivery jumped 1.71% to $4,674.20 per ounce, while spot gold rose 1.6% to $4,668.14.
The surge comes as geopolitical tensions continue to worry traders, prompting a rush into metals perceived as stable and secure. Analysts say gold is proving its status as the ultimate hedge during turbulent times.
Investors are closely watching markets as gold sets new benchmarks, signalling growing caution across the financial landscape.
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Money
Markets edge higher as 10-year yields hit new highs
Major stock indices rise slightly; 10-year Treasury yield hits 4.23% amid Fed Chair speculation, affecting small and mega-cap stocks.
Major stock indices rise slightly; 10-year Treasury yield hits 4.23% amid Fed Chair speculation, affecting small and mega-cap stocks.
All major stock indices are starting the week slightly higher, giving investors cautious optimism. Analysts are keeping an eye on movements in small caps and mega-cap tech stocks amid these early gains.
The yield on the 10-year Treasury note has climbed to 4.23%, the highest since last September. This follows Kevin Warsh emerging as the frontrunner for the next Federal Reserve Chair, sparking speculation on future monetary policy.
Rising yields could trigger a pullback in small-cap stocks, while investors may pivot toward mega-cap tech, expected to deliver strong earnings growth. Overall, the market is likely to see a neutral to slightly bearish trend next week due to overbought conditions.
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