>> stephen: les moonves.eat company, and, of course, all the great stars on cbs came out. it was a star-studded night. >> stephen: and i got a chance to meet your son, charlie. >> yes, but i have to be- have a confession -- >> stephen: i'll get the confessional back out here. >> you know, look, that night, everyone was lining up. they all want their face time with you. and, like, i'm very respectful of, like, not, like, trying to dominate someone that everyone is trying to talk to. and i thought, i'm going to save my moment with stephen colbert to get a picture of my seven-year-old son, charlie, with you. >> stephen: i would so much rather have my picture with a seven-year-old. we have the same-- we have the same reading level. >> well, you know, he's a big stephen colbert fan. you remember you came to our house for a meeting. >> stephen: yeah, sure. >> shortly after we saw all your billboards and he said, "that's colbert! that's colbert! pull over." i said, i kno

at the millekin conference on wednesday, les moonves was bullish, saying cbs and its content are everywhere, from its own cbs all access service to skinny bundles and over the top streaming services like hulu's new bundle which launched this week. >> we think it's the wave of the future. you have to be everywhere, no matter how you want to get your content, we'll be there for you. >> reporter: with disney reporting earnings on tuesday and fox on wednesday, we'll see if those media giants can reassure investors. for "nightly business report," i'm julia boorstin in los angeles. >>> the media industry isn't the only one going through a transformation. so is retail. 2017 is on track to be a record setting year for bankruptcy filings and store closings. but if consumers are by many measures spending, why are the retailers hurting so much? courtney reagan explains. >> reporter: retail may be at a tipping point. more shopping is shifting online in general, and to amazon specifically, which is hurting store sales. consumers are spending more on travel instead of clothing. and investing in their hom

. ♪ has signed les moonves to a new multiyear 2021.ct through he will continue receiving his $3.5 million salary plus long-term incentives. he is one of the nation's 2021. high-speed executives having earned over $69 million in 2016. when it expires, he has the option to become a senior advisor and form a production company through the network. has beenyork times" making news with its own scripts and as a target of president trump. c.e.o.ht up with the where they discussed the partnership with social media platforms and the changing landscape of the news industry. we still have a multifaceted partnership with facebook, google, snapchat, and so on. on theall experimenting best way of getting journalism to people. i think the major digital questionsare asking about truth and falsehood and their responsibility when it comes to journalism. we are very happy to work with them. at the same time questions about truth and because we want that deep relationship with our readers, the best place we think for enjoying the "new york own digitalr destinations as it has been with our physical newspaper.

les moonves announcement -- followed an internal probe into operations into syria.t appeal for the company since its creation in 2015 with a merger of french and swiss rivals. the two bloomberg business flash. >> thank you very much, think you for staying extra late in australia, haidi lun. $51 a barrel's where oil is heading. so you read the single producers are participating in the cuts. the potential he greater extent that deal through the first quarter of next year. >> global equity fund manager -- richard, how do you look at these come out where it's heading higher on the back of these -- this news we broke -- or we held in this range on oil with the opec and friends on the one-sided u.s. on the other? how do you investor-owned oil ,uestion mark >> this deal extension of the cut, is critical. we have this tug-of-war this year. a balance, finding this will be important. that $50 mark is the watershed mark. shell, bpll likes of -- $50 is critical. from cash flow perspective covering dividends come up from what we can get a bounce in the $50 level that she could s

cbs has signed chairman and ceo les moonves to a new multiyear contract through 2021.will continue receiving his $3.5 million annual salary, plus long-term performance-based incentives. once the contract expires from he asked the option to become a senior advisor as well as formal production company through the network. moon press is among the highest-paid u.s. executives, earning more than 60 -- $69 million in 2016. joe:, opec announced reduction 2016 but howember are investors hearing to those rules? who is a team player and who is not. this is bloomberg. ♪ scarlet: what'd you miss? i'm scarlet fu, and we look at oil prices. some investors are not buying into the opec buzz. take a look at this chart. is the vti futures, white line is money-long positions. you can see how they diverge. where prices, the white line, recovered. the weaker dollar is another factor. the net loss position has fallen to the lowest level since november 8, right around the time of the election, but also three weeks before opec approved his first supply cut in eight years. a lot of concerns by

cbs has signed chairman les moonves to a new multiyear 2021.ct through he will continue receiving his the contract expires, moonves has the option to become a senior adviser and former a production company for cbs. he's among one of the highest paid executives in the u.s. he earned more than $69 million in 2016. citigroup has admitted to criminal violations through a mexican subsidiary. the firm will pay $97 million in penalties. according to people familiar with the matter, citigroup failed to oversee money moving across the u.s.-mexico border. a three-yeart ends investigation by the department of justice. a surprise shakeup at ford. mark fields is out after less than three years on the job as ceo. shares of the automaker fell 37% during his time in office. the new chief executive will be jim hackett who has been leading ford's moves in self driving cars and ridesharing. julia: on that news, bloomberg spoke with executive chairman bill ford. here is how he categorized the need for change. i'm very grateful to mark for everything he did for our company, because he did amazing things,

. >>> cbs ceo les moonves has extended his contract.e was named ceo when viacom split from cbs in 2006. he has had a pretty impressive run since then. the stock is up 100% and 17% so this shows cbs planning for the long term going through 2021. his salary will remain at its current level and will be eligible for bonus and long -tem performance based incentives. the agreement provides for him to be a senior adviser for an additional five years and will include an option to establish a production company under cvs when that contract expires in 2021. back over to you. >> julia, thank you very much. >>> coming up, the rise of robot investing is changing the face of markets and your money. plus, an upgrade for a big p pharma stock. one analyst thinks this name is set for a 30% rally. that name coming up in "street talk" after this break. they call him the whisperer. the whisperer? why do they call him the whisperer? he talks to planes. he talks to planes. watch this. hey watson, what's avionics telling you? maintenance records and performanc

les moonves was not interested. >> right.trategic asset, not an operating business in terms of why you own it. obviously you want to see them beat earnings and the rest of it, but i think that as the media industry is further rationalized, it's a pure content creator, and starz for distribution. it seems more as it's jockeying what role it plays in the media. >> true. where do you see it falling? >> it's a complicated industry at this point. i don't think anybody knows how it's all going to shake out. what i think is interesting is that where are the ad dollars going to? they are not going to the traditional players. they are going to the digital companies. they are going to the pure content players. they are going tosocial. i don't think that's going to change. own a basket of the social-digital companies because i think they are the beneficiaries in the longer term. pick and choose traditional guys on valuation, but i think the trend -- >> interesting if you look at the amounts that netflix and amazon spend on creating thei

i think it is about time that, somebody call up les moonves, some of these chiefs of these -- neil: don'trks you have a fairness doctrine. all comedians are liberals. they're all lefty. they hate trump. neil: when it jump the shark or go to the level, i'm not for policing everyone's speech but, you know, think of it in reverse. if it is done about barack obama, forget about it. >> "saturday night live" should do some stuff on nancy pelosi and barney -- not barney. bernie sanders. neil: i know what you mean. >> bernie sanders came out and said people would drop dead because of obamacare being cut out. that's insane. what has happened to this country? neil: i don't know. i'm flabbergasted. leave me speechless. >> why are you laughing? neil: because i wanted to do hand gestures but i can't. we'll have more after this. are allergies holding you back? break through your allergies. try new flonase sensimist instead of allergy pills. it's more complete allergy relief in a gentle mist you may not even notice. using unique mistpro technology, new flonase sensimist delivers a gentle mist to help bl