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Accusations against CBS’s C.E.O. could spur a Viacom deal

The board of CBS spent most of the weekend discussing what to do about Les Moonves, its chief executive, who is the target of allegations about sexual misconduct from six women. More on the board’s deliberations, from Edmund Lee of the NYT:

At least two of the board’s 14 members have questioned whether Mr. Moonves should continue to run the company during an internal investigation, according to two people familiar with the conversations who asked not to be named because the matter was confidential.

The board will meet later today.

But Mr. Moonves already had a fight on his hands — with Shari Redstone, who leads CBS’s parent company National Amusements, about merging CBS and Viacom. Mr. Moonves and his board have sued Ms. Redstone to prevent a merger; a trial is scheduled for October. His #MeToo moment could unsettle things.

Tara Lachapelle of Bloomberg expects the new scandal to unseat Mr. Moonves. “And without him leading the charge,” she argues, “the power would shift back to Redstone, enabling her to finally carry out the Viacom deal.”

Mark Carney is planning for a crisis

The Bank of England governor is worried about Brexit. In an interview with Bloomberg’s Stephanie Flanders, Mr. Carney discusses his preparations for Britain’s exit from the European Union, and explains that he thinks protectionism could be costly:

We can choose between a low road of protectionism focused on bilateral goods-trade balances and a high road of liberalization of global trade in services. The low road will cost jobs, growth, and stability.

He would prefer the high road — one which he says “could help solve the problem of persistent trade imbalances” and “support a more inclusive and resilient globalization.” But that decision is out of his hands.