The battle over Sumner Redstone's $40B media empire is over, according to media reports, bringing to a close a legal fight over whether the 93-year-old had the mental capacity to make decisions and if he was being manipulated by his daughter Shari. Terms of the settlement include the dismissal of Viacom ([[VIA]], [[VIAB]]) CEO Philippe Dauman (with a $72M severance package), appointment of COO Thomas Dooley as interim chief executive and the expansion of Viacom's board (based on the five choices of National Amusements).
Economy
John Williams has become the latest Fed official to offer what some consider a signal of a rate hike in September. The San Francisco Fed President said the central bank should raise rates "sooner rather than later" given domestic economic momentum. Williams isn't a voter on the FOMC this year, but he's worth listening to given his close ties with Janet Yellen (his predecessor at