Asia Argento, who accused Harvey Weinstein of rape in Ronan Farrow's October exposé in The New Yorker, delivered a searing speech during the Cannes Film Festival's closing ceremony on Saturday, calling out the festival itself for its complicity in sexual harassment and abuse in the film industry.
"I was raped by Harvey Weinstein. ... This festival was his hunting ground."
China has agreed to "substantially reduce" its trade imbalance with the United States after trade deliberations this week in Washington led by Treasury Secretary Steven Mnuchin and Chinese Vice Premier Liu He, according to a joint statement from the two countries.
What's missing: The statement didn't include many details on how exactly both sides to achieve that goal — just that China simply plans to "significantly increase purchases of United States goods and services." The statement also didn't include any mention of Chinese phonemaker ZTE, which has become a flash point in China-U.S. trade relations over the past week.
Teachers from six states across the country have gone on strike in 2018 in protest of their working conditions, even at times in defiance of state laws.
Why it matters: Teachers have seen wage decreases across the country, yet they're still shouldering the weight of taking care of their classrooms and paying for supplies without reimbursement. This has launched a national movement among teachers from private and public schools alike who are fighting for more money, better budgets, and less red tape.
The U.S. leveraged loans market market recently topped $1 trillion for the first time ever, having grown each consecutive year since 2010. We asked Randy Schwimmer, head of origination and capital markets at Churchill Asset Management, if markets should be concerned:
"Not by the level per se, which is pretty consistent with the popularity of the asset class. More worrisome is large cap structural deterioration at the borrower level."
Most major media deals that analysts and experts thought would be sure bets have taken unexpected turns in the past month, introducing new possibilities of what the future of media could look like for decades to come.
Why it matters: Nearly every deal is dependent on the outcome of another pending merger in the space. With a limited number of telecom, tech and TV companies in the mix, the fight for survival has created a game of merger musical chairs.
