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Good morning from the newsroom of the Financial Times.

Today is Tuesday, December 18th,

and this is your FT news briefing.

Today we'll be looking at the CBS decision

to deny former Chief Executive Les Moonves a 120 million dollar payout, US stocks

sinking deeper into correction territory, and another potential test of confidence

for UK Prime Minister Theresa May.

Then the FT's Emily Fang takes us to China,

where evidence is mounting of forced labor in its detention camps.

I'm Eric Krupky, and here's the news you need to start your day.

On Monday the CBS Board announced its former chief executive Les Moonves

would not get his 120 million dollar exit payout.

Mr. Moonves resigned from the US Television Network back in September, after he faced allegations

of sexual misconduct by more than a dozen women.

CBS said he'd be fired after it found cause, and as a result, he won't receive his severance package.

The board came to the decision after looking at information collected by lawyers who were investigating

the harassment and assault claims.

Concerns about the health of the global economy pushed U.S. stocks deeper into correction territory on Monday.

The S&P 500 closed another 2.1% lower, and all of the S&P sector indices finished in the red. Wall Street's on track to record its biggest

annual decline since 2008. Investors are struggling with a combination of concerns

...