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Stephen Colbert had plenty to say when it came to the allegations of sexual misconduct against his boss, CBS CEO Les Moonves.Colbert kicked off CBS' "Late Show" on Monday night joking that he heard over the weekend that there was an article about Moonves in the New Yorker, but acted as though he didn't know who wrote it. Once he found out that it was Ronan Farrow, Colbert spat out a sip of a drink he took from a coffee cup."That's not good," Colbert said. "Ronan isn't exactly known for his puff pieces about 'glamping.'"Later in the show, Colbert spoke more about Moonves and the #MeToo movement from his desk."It's strange to have to say this, powerful men taking advantage of relatively powerless employees is wrong," the host said. "We know it's wrong now and we knew it was wrong then. And how do we know we knew it was wrong then? Because we know these men tried to keep the stories from coming out back then."Colbert then said that as a "middle-aged guy with some power in the entertainment industry" he may not be the ideal person to address "this kind of systemic abuse," but that he does "believe in accountability.""Everybody believes in accountability until it's their guy, and make no mistake, Les Moonves is my guy," Colbert said.The host then pointed out how Moonves hired him and has stood by the show."But accountability is meaningless, unless it's for everybody," Colbert added. "Whether it's the leader of a network or the leader of the free world."Six women told The New Yorker that Moonves sexually harassed them. In a statement to The New Yorker that was also obtained by CNN, Moonves said he has "promoted a culture of respect and opportunity for all employees" throughout his tenure at CBS."I recognize that there were times decades ago when I may have made some women uncomfortable by making advances," Moonves said. "Those were mistakes, and I regret them immensely. But I always understood and respected — and abided by the principle — that 'no' means 'no,' and I have never misused my position to harm or hinder anyone's career."Media observers paid close attention to how CBS reacted to the news all day on Monday. 2185

Tacked onto the coronavirus stimulus bill is new legislation tackling one of the most controversial practices in health care – surprise medical bills.That's when you go to the hospital or have an elective procedure and then later find out some of the doctors or facilities were out of network, meaning you could owe tens or hundreds of thousands of dollars.The most impactful part about the legislation is that patients would no longer get those surprise out-of-network bills for emergency care or for a planned procedure. They will instead be billed an in-network rate.Out-of-network providers would have to give patients a heads up on estimated charges, at least three days.Air ambulance companies would also not be able to charge more than in-network costs. Ground ambulances were not included.Insurance and providers have to go to arbitration to work out the final payment. It's a complex solution advocates say could end up costing Americans more in the long run.“So, a mediation process that some states have put in place, but research has shown that it increases the likelihood that consumers face higher premium costs on the back end,” said Clare Krusing with the Coalition Against Surprise Medical Billing.That Coalition had been pushing for policies that, in their simplest form, would have essentially made in and out-of-network rates the same. Savings that in-part would have funded community health centers.“Not only is that approach the cleanest way of dealing with this, but it also saves the patients and taxpayers the most money, who are going to save billion over 10 years.The group plans to continue to push for more terms around that arbitration process to prevent abuse, driving up costs.None of the new surprise medical bill legislation takes effect until January 2022. 1803

That was fast. Wall Street's enthusiasm for the US-China trade truce has completely vanished.The Dow Jones sunk nearly 800 points on Tuesday, nearly a three percent drop.The S&P 500 declined 2.5%, while the Nasdaq tumbled 3%.Big tech stocks fell sharply. Apple (AAPL), Amazon (AMZN) and Alphabet (GOOGL) lost more than 3% apiece.The selloff wipes out Monday's 288-point jump on the Dow. That rally had been fueled by relief over the ceasefire between the United States and China on the trade front.But investors are quickly realizing that the US-China trade war is not over. The tariffs already put in place remain. And new tariffs could be implemented if the two sides fail to make progress."People are still very concerned about the trade war," said Dan Suzuki, portfolio strategist at Richard Bernstein Advisors. "Financial markets are increasingly showing signs of fear of a recession."President Donald Trump did not help Wall Street's trade war worries on Tuesday. Trump said that he would "happily" sign a fair deal with China but also left open the possibility that the talks will fail."President Xi and I want this deal to happen, and it probably will," Trump tweeted. "But if not remember... I am a Tariff Man."Those words aren't likely to bolster confidence among investors already worried about the negative consequences of the trade war. Steel and aluminum tariffs have lifted raw material costs and caused disarray in supply chains. And uncertainty about trade policy makes it very difficult for companies to make investment decisions.Investors have also grown very worried in recent days about fluctuations in the bond market. The gap between short and long-term Treasury rates has narrowed significantly this week. Before almost every recession, the yield curve has inverted, meaning short-term rates are higher than long-term ones.The gap between the 10-year and two-year Treasury yields dropped on Tuesday to the smallest since just before the Great Recession. And the less closely watched gap between three and five-year Treasury yields inverted on Monday.The tightening yield curve reflects fears about a growth slowdown and concerns about whether the Federal Reserve is raising interest rates more quickly than the economy can handle. Fed chief Jerome Powell gave a speech last week that investors interpreted as signaling the central bank could slow its rate hikes. However, there is a debate over whether Powell really was telegraphing a sudden change.Barry Bannister, head of institutional equity strategy at Stifel, predicts the Fed will pause its rate hikes because it has already made monetary policy too tight. He pointed to the slowdown in the housing market caused by higher mortgage rates."It's playing with fire to be too tight and risk an inversion because you don't know what the outcome will be," Bannister told reporters on Tuesday. "Even if the Fed pauses, they may have already done too much."A flattening yield curve and slowing economic growth hurt the profitability of banks.The financial sector was the second-worst performer in the S&P 500 on Tuesday. Bank of America (BAC), Morgan Stanley (MS) Citigroup (C) and Wells Fargo (WFC) declined more than 4% apiece.But Suzuki cautioned that the markets could be overreacting. He pointed to strong corporate profits and the fact that the yield curve has not yet inverted."We don't see signs of an impending recession," Suzuki said. "There is a widening gap between market fear of a deterioration in the fundamentals and the actual fundamentals themselves." 3558

Texas Southern University in Houston evacuated its campus on Wednesday due to a bomb threat received by the Houston Police Department directed at the university. The university announced on its social media channels that all classes are canceled for the rest of the day, and that all students, faculty and employees should evacuate campus. Houston Police said it received the threat via its emergency call center around 1:40 p.m. CT on Wednesday. As of late Wednesday afternoon, there have not been any confirmed bombs found on campus. Texas Southern is a public historically black university with an enrollment of nearly 10,000. 667

Tennis superstar Serena Williams says she found out her sister's killer had been released from prison minutes before her loss to Johanna Konta last month.The 6-1 6-0 defeat to Konta in the opening round of the Silicon Valley Classic was the worst of Williams' 23-year career.In an interview with Time Magazine, the 23-time grand slam champion said she was scrolling through Instagram 10 minutes before her match and learned the killer had been released on parole."I couldn't shake it out of my mind," the 36 year-old said.Robert Maxfield was jailed for 15 years in April 2006 for the shooting of Yetunde Price -- Williams' older half-sister -- in 2003 in Compton, Los Angeles.Price was 31 at the time of her death and had three children aged 11, 9 and 5. 762