The daily business briefing: September 10, 2018

CBS chief Leslie Moonves leaves after new sexual misconduct allegations, Alibaba chairman announces plan to step down, and more

The Alibaba Group sign
(Image credit: David Becker/Getty Images)

1. CBS chief Moonves leaves after new sexual misconduct charges

Longtime CBS chief Leslie Moonves stepped down Sunday night, hours after The New Yorker magazine reported new sexual misconduct allegations against him by six women. One of the women said Moonves forced her to perform oral sex, and others said he retaliated when they rejected his advances. Moonves acknowledged that he had relations with three of the women but denied using his position to hurt their careers. Six other women accused Moonves of sexual harassment or assault in a previous New Yorker article. CBS let Moonves remain on the job after the previous allegations but the CBS board of directors announced Sunday that he would leave effective immediately. The network also will donate $20 million to organizations that support equality for women in the workplace, with the money coming out of Moonves' severance pay.

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Harold Maass, The Week US

Harold Maass is a contributing editor at The Week. He has been writing for The Week since the 2001 debut of the U.S. print edition and served as editor of TheWeek.com when it launched in 2008. Harold started his career as a newspaper reporter in South Florida and Haiti. He has previously worked for a variety of news outlets, including The Miami Herald, ABC News and Fox News, and for several years wrote a daily roundup of financial news for The Week and Yahoo Finance.