Author: Daniel snow

Wendy McMahon, president and co-head of CBS News and Stations.Michele Crowe | CBS | Getty ImagesCBS News Chief Executive Officer Wendy McMahon announced Monday she is stepping down, the latest twist in a growing battle of wills between the company’s news division and Paramount Global controlling shareholder Shari Redstone.Paramount Global co-CEO George Cheeks talked with McMahon on Saturday and asked for her resignation, according to people familiar with the matter. McMahon agreed to step down, and the Paramount Global board held a meeting Sunday at which members were made aware of the decision, according to those people, who spoke on…

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China Shipping containers are seen at the port of Oakland, as trade tensions continued over U.S. tariffs with China, in Oakland, California, U.S., May 12, 2025. Carlos Barria | ReutersChinese exporters are offering lucrative deals to U.S. customers with promises of bearing the full burden of tariffs. Look beneath and there’s a web of illicit activity that’s propping up these shipments from China.By using the “delivered-duty-paid” shipping approach where sellers pay for all import duties, and by under-invoicing shipments, some Chinese sellers are able to offer U.S. customers pre-tariff prices, while still turning a profit, according to legal experts and…

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This illustration picture shows a person waiting for an update of Epic Games’ Fortnite on their smartphone in Los Angeles on August 14, 2020.Chris Delmas | AFP | Getty ImagesApple must work out its latest issues with Epic Games, or head back to court to prove it has a legal basis for delaying the restoration of the popular Fortnite game to its iOS App Store, a judge ordered on Monday.Fortnite recently re-submitted its game but was blocked by Apple, Epic Games said Friday. The company later filed a motion to enforce the earlier injunction from the court.U.S. District Judge Yvonne Gonzalez…

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U.S. Treasury yields were off their highs Monday afternoon but remained elevated after Moody’s downgraded the U.S.’s credit rating. Rates hit key levels that have pressured financial markets recently.The 30-year Treasury yield hit a high around 5.03%, reaching levels not seen since November 2023. The yield last traded at 4.921%, up 2 basis points. The 10-year yield also climbed 2 basis points to reach 4.459%. Meanwhile, the 2-year Treasury yield shed 1 basis point to 3.972%.One basis point is equivalent to 0.01%, and yields and prices move in opposite directions.Investors proceeded to shake off the downgrade with bond buying seen as the session…

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