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Quest Means Business
U.S. Holds Separate Talks In Geneve On Iran, War In Ukraine; Russian Media Reports Tense Talks With Ukraine On Tuesday; WBD Backs Netflix Merger While Reopening Paramount Talks; SAG-AFTRA And Hollywood Studios Begin Negotiations; Civil Rights Icon Reverence Jesse Jackson Dead At Age 84; Six Companies Connected To Sarah Ferguson To Be Shut Down; Mark Zuckerberg To Face Jury In Online Addiction Case; Pandora Goes Platinum. Aired 4-5p ET
Aired February 17, 2026 - 16:00 ET
THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.
[16:00:19]
PAULA NEWTON, CNN INTERNATIONAL HOST: It seems the Dow didn't want to come out to play today. As you can see, essentially flat, that was true for the
NASDAQ and the S&P as well as this shortened trading week gets underway. Those are the markets and these are the main events:
A whirlwind day of talks for U.S. negotiators as they work to reach deals with Iran and the war in Ukraine.
CBS is responding after Stephen Colbert said his network told him not to air an interview on T.V.
And we will speak to the CEO of Pandora on how volatile silver prices are affecting their jewelry sales.
Live from New York. It is Tuesday, February 17th. I am Paula Newton, in for Richard Quest and this is QUEST MEANS BUSINESS.
And good evening.
An absolutely remarkable day of diplomacy has now wrapped in Geneva, which saw President Trump's top negotiators attempt to take on two of the world's
most difficult standoffs in just a matter of hours.
Jared Kushner and Steve Witkoff spent the morning in indirect talks with Iranian officials at the Omani Consulate. Iran's Foreign Minister says both
sides agreed to what he described as guiding principles for further discussions on Iran's nuclear program. He also warns, though, that what
comes next will be more detailed and harder.
And then, in a highly unusual move, the same U.S. team traveled just a short distance down the road for trilateral talks with Russian and
Ukrainian negotiators. Now, those meetings aimed at ending the war in Ukraine have concluded, but they are set to continue on Wednesday. We want
to get more on this really extraordinary, dual hatted diplomacy.
Fred Pleitgen is in Geneva for us, and Natasha Bertrand is following developments from Washington.
Fred, I will go to you first as you are in Geneva, and we will begin with Iran. Talks continue, won't continue, pardon me for at least a couple of
weeks. I am wondering what you believe was accomplished here because there are different stories coming out of both the United States and Iran.
FREDERIK PLEITGEN, CNN SENIOR INTERNATIONAL CORRESPONDENT: Yes, first of all, Paula, Jared Kushner and Steve Witkoff certainly displayed a lot of
stamina here because on top of the talks that you were just speaking about, the trilateral ones over Ukraine and Russia and the Iranian talks, they
also held meetings with European officials, then in the late evening hours of tonight as well. So, certainly a lot going on here and definitely a lot
of stamina displayed by the President's top negotiators.
As far as Iran is concerned, I think one of the things that's definitely key is the fact that the two sides have agreed to keep talking. The
Americans say they want to see some new proposals from the Iranians to try to narrow the gap between the two countries. I think one of the things that
was definitely very important for the two sides to reach is to hear each other's proposals, and then also to see where they go as far as uranium
enrichment is concerned, that's, of course been the big testing point between these two countries, the big issue between the United States and
Iran, where the U.S. has in the past said, President Trump has in the past said that he wants zero enrichment. He doesn't want the Iranians to enrich
at all.
The Iranians say for them, that is not acceptable and so therefore, the two sides are looking to see whether or not they can find some sort of middle
and common ground and whether or not that can be bridged and bridged in a way that both the U.S. and the Iranians are happy with the result.
Of course, all of this in front of the backdrop of those big military moves that the United States has been making, sending additional ships to the
greater Middle Eastern region, jets as well, definitely something, of course, that certainly is aimed at moving this diplomacy along and give it
more urgency.
For the Iranians, Paula. I will say one of the things that for them, of course, is key is sanctions relief and that is something where they say
they want to see substantial sanctions relief if they're going to put even more constraints on their nuclear program than there had been in the past.
So, both sides saying they believe that they are moving in the right direction, that an agreement is possible. But as you noted, the Iranian
Foreign Minister, Abbas Araghchi saying there is still a long way to go and certainly things could become a lot more difficult once it gets to more
nuanced discussions -- Paula.
Fred, stand by for us because we will get to Ukraine as well. But Natasha, I want to get your impression of how the Iranian talks went, given it is
not really easy to parse at times what the Trump administration actually believes is progress. And I do note as well that J.D. Vance, the Vice
President, just did an interview with Fox saying, I guess in his words that there are red lines in these negotiations as far as the President is
concerned.
NATASHA BERTRAND, CNN NATIONAL SECURITY CORRESPONDENT: Yes, Paula, the President does not want to see Iran enrich any uranium at all, something
that Iran has said is a complete nonstarter.
[16:05:10]
The President in previous discussions with aides, has also communicated, and that has been communicated to Iran as well, that they want to see Iran
stop their support for those proxy groups in the region. They also want to see them put limits on their ballistic missile program.
But, you know, the rationale keeps changing by the United States for why Iran needs to come to the table and why they need to do so fast before the
U.S. actually takes military action against the country. Of course, last month it was because of the protests and the fact that the Iranian
government was killing protesters en masse. Now, it is because of Iran's nuclear program.
So, there does seem to have been a little bit of muddled messaging on this over the last several weeks, but one thing has remained very consistent,
and that is the U.S. military buildup in the region, something that has really increased exponentially in recent days and weeks.
We now have a second aircraft carrier headed to the region to join the first, the USS Abraham Lincoln, which arrived there several days ago. We
have dozens of fighter jets that are enroute to the region or have already arrived, as well as other air and naval assets, all things that you would
put in place if you were planning to launch a sustained military campaign against the Iranians, something that, you know, many experts say the U.S.
now has the equipment in place to do if that is what Trump decides. And he has said, of course that if the Iranians don't come up with an acceptable
deal, this time around, the nuclear issue, that it is going to be a "very traumatic day for Iran" again threatening military action. Still unclear
what that military action would actually see happen.
The administration does not seem to have gotten to a point where it understands what would happen if the Iranian regime actually fell from
military action, but all signs are pointing to them negotiating with Iran, really at gunpoint and preparing for military action if necessary.
NEWTON: Yes, and as you point out, it is what happens the day after that has many in the region concerned.
Fred, back to you. Do you see any signs there, given what is going on at the table that Russia is doing anything more than at this point stalling
for time? And I do want to get your insights on whether the Europeans are engaging in a different way now than what you've seen in the last few
months?
PLEITGEN: Well, it certainly doesn't seem as though very much in the way of progress was achieved during the talks today. I mean, there was no press
conference. There was actually supposed to be a press conference by both the Russians and the Ukrainians, separately. Obviously, both of those were
cancelled and the negotiations ended at some point and I wouldn't say even too late evening hours. So, it does appear as though the talks today,
progress appears to have been quite difficult. It is unclear what exactly the Russian strategy is.
Of course, we have heard in the past from the negotiators, especially from Steve Witkoff, that he believes that progress was being achieved. But of
course, a lot of that progress is also very hard to come by, especially if you look at some of the most difficult issues that are on the table. I
would say one of them being security guarantees for the Ukrainians, what the Russians would be willing to accept as far as western security
guarantees for the Ukrainians.
And then, of course, that huge topic of territories which and if territories, the Ukrainians would cede to the Russians as part of any peace
agreement and so today, it seems as though the negotiations went on for a very long time. One of the things that I thought was quite interesting is
that as they were wrapping up today, the political part of the talks apparently wrapped up earlier than the military part of the talks.
So, they went on for a little bit longer. Still, though it seems as though progress, not sure how much was actually achieved today.
NEWTON: Yes, and we will continue to watch those talks.
Fred Pleitgen for us in Geneva, Natasha Bertrand in Washington, grateful to both of you.
We do want to stay with this right now. Ian Bremmer is President of the Eurasia Group and GZERO Media.
I want to thank you for coming in as we try and parse both of these negotiations. We are going to start with Iran. As you just heard Natasha
say, the U.S. is armed and ready at Iran's doorstep. There was optimism out of these talks. I am wondering if you buy that and does that optimism mean
that Iran gets to keep its missiles and its peaceful nuclear program?
IAN BREMMER, PRESIDENT, EURASIA GROUP: If Trump were prepared to accept a deal that was only focused on uranium enrichment and stockpiling, then sure
it would mean that. But there is no reason to believe that.
President Trump, I think, is the reason that you have all of this military equipment which is continuing to steam towards the region, is because he
believes that he has the upper hand in these negotiations through military threat.
He also understands that the last couple of times he has used the military against the Iranians, both this past year, as well as at the end of his
first administration, the Iranian government has not been able to or willing to respond against Americans.
[16:10:00]
And so, I still think the likelihood that we are heading towards some form of military action, at the very least from Trump to improve his negotiating
position, so more limited strikes, possibly larger strikes over the coming weeks. I think that's still the baseline expectation.
NEWTON: Yes, and that is interesting given all of the assets that are now in the region.
We go to Ukraine, stalling, as you know better than I has been a very successful tactic for Russia so far. President Trump is now saying again,
look, Ukraine, Ukraine needs to come to the table fast. That says to me that there really is no deal here to be had. What are your impressions?
BREMMER: President Trump understands that the Ukrainians are a lot weaker and therefore, if you want a ceasefire, the easiest way to achieve one is
to force the Ukrainians to capitulate and move closer to the Russian position. That has been what the Americans have accomplished over the last
12 months. But still, Russia has not wavered even a tiny bit.
The Americans have seen that, the French who just sent their National Security adviser, thinking that the Americans are not including the
Europeans, so they will try. They came back they got absolutely nothing and so, you know what I heard from a lot of the European leaders that I met
with over the past several days was a concern that if you were to achieve a ceasefire that was essentially purely on Russian terms, that they
increasingly oppose it because they believe that the Russians would use it to re-arm, to strike Ukraine again and possibly to engage in false flag
attacks, even against NATO frontline states.
So today was sadly, on the negotiations front, today was oh for two.
NEWTON: And, you know, we've seen this play out before, whether its Iran or Russia, both are very proficient at dragging out negotiations like this for
their benefit. It doesn't mean it works all the time, but it does work some of the time, and that's because in each situation, the stakes are so high
for these negotiations.
Given this, I am curious to hear your thoughts on if you believe Witkoff and Kushner, the two main negotiators for the Trump administration should
be doing all the heavy lifting here.
BREMMER: Well, I mean, I would rather have a coordination between the United States and its allies. You know, I'd rather have them be seen to be
on the same side and trusted by each other because I think you get more when you're coordinated with a large number of countries. That's clearly
not happening, but having said all of that, even though the negotiations are not going the way the Americans want, Iran today is in a much weaker
position than they were a year ago. They don't have military strength of this so-called axis of resistance across the region.
Their nuclear capabilities have been significantly degraded in the 12-Days War last year, and they weren't able to do anything against the Americans
in response. Oil prices are still comparatively low because the Iranians don't feel like they have that leverage.
Russia today, they've had 30,000 casualties in December. In January their economy is increasingly diminishing. The Indians aren't buying the oil they
used to from Russia, and the Europeans are spending a lot more, not only on Ukraine, but on their own military capabilities. So, even though the
negotiations aren't going well, I would hate to be in Iran or Russia's position as they continue to say no to the United States.
NEWTON: Yes, and we can see, though, if Kushner and Witkoff are the men to bring this deal home on in either regard.
I do want to talk quickly about the puppet regime, a creative vehicle we will call it that GZERO Media has done, we are going to have our viewers
take a listen.
(BEGIN VIDEO CLIP)
PUPPET #1: All right, Zelenskyy, check out this new peace proposal.
PUPPET #2: Does it contain NATO style Article V security guarantees for me?
PUPPET #1: Bro, why are you stressing? Just keep it light.
(END VIDEO CLIP)
NEWTON: So we all got a flavor there. You can see much more online. I am wondering, Ian, why is this the time for this? What does this vehicle do in
terms of adding to these discussions of geopolitics at a very serious time, I might add.
BREMMER: Look for a long time, you've been able to deliver a better understanding of what is happening in the world by keeping it light, as
they say, and especially because people's hair is on fire over how angry they are politically with one side or the other. This is I think, a cuter
way that you can actually reach everyone across the political spectrum without making judgment, with just putting it out there.
At the end of the day, if you're a Puppet Trump or a Puppet Putin, a Puppet Zelenskyy, the stakes are a little bit lower and people are more willing to
listen. That's at least what we found, 200 million views later after the last 12 months. Got to be doing something right.
NEWTON: See, at least, it helps explain some of what is going on there to everyone who at this point would not be blamed for being concerned and
confused.
Ian Bremmer, thanks so much. Really appreciate you coming in.
Now, coming up for us, major developments across the media industry, Warner Bros Discovery, giving Paramount an opportunity to outbid Netflix. We will
explain. And then there is Stephen Colbert, who says CBS kept one of his late show interviews from airing. CBS says, not so fast. We will have those
details next.
(COMMERCIAL BREAK)
[16:17:48]
NEWTON: So Warner Bros Discovery, the parent company of CNN, is giving Paramount a brief opportunity to outbid Netflix. Now, WBD says Paramount
will have seven days to make its best and final offer. At the same time, WBD is moving forward as planned. The Board recommends going with the
Netflix offer, and it now has scheduled a shareholder vote next month.
Sara Fischer is in Washington, D.C. for us.
Sara, good to see you again.
What is your takeaway from this latest chapter and are we any closer to knowing who will eventually own WBD? And I do hope you can articulate for
viewers, why should they care? What is the big deal here? Because this is getting to be a very long and drawn out process here.
SARA FISCHER, CNN SENIOR MEDIA ANALYST: Well, they should care because it is the start of a lot of consolidation that's going to be happening within
the media and Hollywood sectors. And for Hollywood in particular, a lot of creatives, actors and directors have been very concerned about these types
of mergers, arguing that if studios consolidate, there become fewer players for them to distribute and sell the rights to their content. So, that's why
people should care.
But in terms of will this come to an end soon? I think we are getting closer to the finish line, Paula. For a long time, Paramount has been
trying to amend its bid, its hostile takeover bid for Warner Bros Discovery and Warner Bros Discovery's board has always said no. They've basically
said this does not adequately address our concerns.
And I think what we are seeing here is that Warner Bros Discovery really wants is for Paramount to up the offer price. That's something that
Paramount has repeatedly said it is unwilling to do, but Warner Bros Discovery today, in a regulatory filing said that a senior representative
for Paramount's financial advisors has alluded to a Warner Bros Discovery Board member that it is willing to possibly up its price, which is why I
think Warner Bros Discovery is finally now entertaining Paramount's talks and reengaging.
NEWTON: Yes, and there is quite a deadline attached to that, as you said, we will know quite soon and we do note that Paramount Skydance up almost
five percent, Warner Bros Discovery up almost three percent.
[16:20:03]
Just to another issue here that we've been following, Sara, late show host, Stephen Colbert told his audience last night that CBS scrapped his
interview with a rising star in the Democratic Party. I want you to listen to him explain it.
(BEGIN VIDEO CLIP)
STEPHEN COLBERT, "THE LATE SHOW WITH STEPHEN COLBERT" HOST: And you know you know who is not one of my guests tonight? That's Texas State
Representative James Talarico. He was supposed to be here, but we were told in no uncertain terms by our networks lawyers, who called us directly that
we could not have him on the broadcast.
(BOOING)
COLBERT: Then -- then I was told in some uncertain terms that not only could I not have him on, I could not mention me not having him on.
(END VIDEO CLIP)
NEWTON: So, here is the thing, federal regulators have put broadcast networks on notice. They say talk shows are no longer exempt from having to
give equal airtime to candidates running for office. CBS responded this way. It says the late show was not prohibited by CBS from broadcasting the
interview with Representative James Talarico. The show was provided legal guidance that the broadcast could trigger the FCC equal time rule for two
other candidates, and presented options for how the equal time could be fulfilled.
"The Late Show" decided to present the interview through its YouTube channel with on-air promotion on the broadcast, rather than potentially
providing the equal time option.
Sara, back to you.
We all know the controversy here in terms of the impression that perhaps, you know the politicians are putting their thumb on the scale here, and yet
the rules really are enforced for broadcast networks, not for YouTube, not for streaming, not for CNN on cable.
FISCHER: Yes, and it is sort of debated to what extent they should be applied to broadcast networks should they be applied to late night shows
and talk shows as opposed to just news programs? But the FCC, under President Trump has admitted that they are no longer considering themselves
to be independent and that they are at the mercy and the will of the President.
And so what you've seen over the past year is FCC Chairman Brendan Carr has basically tried to pull all the FCC's rules and regulations to appease
President Trump and its put broadcast companies or media companies that own broadcast networks in a very perilous position because if they want to get
regulatory approval for things like deals, as we just discussed, right, CBS' Paramount wants to merge potentially with Warner Bros Discovery. Then
they feel the need to buck to the FCC's pressure, even though legal experts say that if networks were to challenge some of these FCC enforcements in
court, they might have a case.
I just think networks are not in a place right now where they want to do that. They want to get swift regulatory approval for deals, and so they are
capitulating.
NEWTON: Yes, as you said, there is nothing that's going to be gained right now as far as those companies are concerned from a legal battle.
Sara Fischer, thanks for explaining it all. Appreciate it.
Now, the other big story this week in Hollywood concerns intellectual property and A.I.
ByteDance pledged on Monday to curb its A.I. video tool after this fake scene went viral. Take another look.
(A.I. GENERATED VIDEO CLIP PLAYS)
NEWTON: That A.I. video scene of Brad Pitt fighting Tom Cruise was created by Seedance 2.0. It prompted an uproar from the entertainment industry.
SAG-AFTRA said in part: "This is unacceptable and undercuts the ability of human talent to earn a livelihood. Seedance 2.0 disregards law, ethics,
industry standards and basic principles of consent. Responsible A.I. development demands responsibility, and that is nonexistent here."
Now, ByteDance did tell CNN that it respects intellectual property rights and is taking steps to prevent the unauthorized use of I.P. and likeness by
users. But this debate continues, and it continues here with Sean Astin. He is an actor and the President of SAG-AFTRA, and I want to welcome you to
the program because we are really interested in how this is going to play out.
Now, I should say, you've got a lot on your plate right now, young man.
SEAN ASTIN, ACTOR, PRESIDENT OF SAG-AFTRA: I do.
NEWTON: And we start with A.I. Right? How much of a threat is it to the people you represent? But I am also wondering, do you also see it as an
opportunity when it comes to trying out that I.P. and earning more from name, likeness and image?
ASTIN: Well, artificial intelligence is providing lots of opportunities and lots of spaces that could be really exciting and interesting for human
beings. At the moment, I am not so much focused on the ways in which it is an opportunity in our business, because what it continues to do is present
deeper and more specific threats to our intellectual property, to our I.P., and to our name and likeness controls, if you can believe that.
[16:25:06]
Actually what we need is a federal name and likeness right and that we have a bill that's working through the Senate right now, the No Fakes Act, and
it has support from industry stakeholders even OpenAI and YouTube and Google support it. So, you know, we just need to acknowledge that right
now, there is something that's happening in our country that's dangerous for people and government's job is to step in and provide realistic
guardrails not just, you know a company like ByteDance or Seedance or whatever, saying, oh, they do support the rights, so now that the public
had a massive backlash, we are going to go ahead and implement a new, you know, completely revocable policy to be a little bit more respectful.
It is like no, we are actually going to need to make sure that you know, you know from a legal perspective that it is prohibited and that we have
some mechanisms to take it down when you put it up there, when you shouldn't.
NEWTON: You know the gridlock in Congress right now, how optimistic are you that there will be bipartisan support for this?
ASTIN: There is bipartisan support. I think we've got Senators Coons and Blackburn, Tillis and Klobuchar are the four who are spearheading this, so
it was introduced, I don't know, eight, nine, ten months ago, something like that. I am optimistic because the country needs it and I don't think
there is really much pushback anywhere except that things take time. So let's get it into the Judiciary Committee and let's get it on its way.
NEWTON: Sean, we were just talking about the pending sale of WBD, and we remind the audience again, it is the parent company of CNN. Is there a
worse of two evils here in the industry depending on who gets to buy WBD? And I am wondering, you know, should it bank one way or the other, or do
you --
ASTIN: For whose -- oh, sorry.
NEWTON: No, no, give me your perspective and the people you represent. Is there any option here of the two that looks good?
ASTIN: You know, we are not in the business of calling balls and strikes on, you know, $100 billion takeovers and consolidations. Basically, we are
looking to see where our jobs are going to be protected, where the opportunities are going to grow. And, you know, both groups have made
assertions that they would -- that they are interested in, in growing the business but anytime you have this sort of consolidation historically, you
know labor gets squeezed.
So, you know, hopefully government oversight and regulation is doing its job properly. And, you know, we will continue to negotiate with them and
work with them and, and hopefully continue to create projects that people want to see with them.
NEWTON: So Sean, are you saying it doesn't matter who gets it at this point in time? That there are challenges ahead?
ASTIN: Well, we have been looking very closely at how the deals would be structured, but I can't sit here at this moment and tell you, well, you
know, the theatrical distribution windows are going to be, you know, 40 days or more if this person gets it or that company gets it or --
Here is what is going to happen. The shareholders of these companies are going to be fine. The senior executives of these companies are going to be
fine. The audiences are going to be given great entertainment. My sense of the industry is that it is just come through a very, very hard contraction,
a hard slog. And now what labor unions need to do and producers need to do is buckle down and make good deals with each other and, you know hopefully
maximize whatever works with these big, you know, takeovers and protect ourselves from what doesn't work.
NEWTON: You just alluded, though to the painful few years it has been. There was a strike three years ago, I have to remind you how much that
hurt. You -- and I know that those are hard fought gains that SAG-AFTRA gained there. But you're now starting a new set of negotiations, and I am
assuming they will be even more complicated than the ones that came before. You know, you said yourself, there is a lot of fear, uncertainty, even
danger.
Fran Drescher was your predecessor. Did she give you any advice on all this? I do remember throughout the strike that she was incredibly blunt and
vocal about what was at stake for actors like you.
ASTIN: Well, I really appreciate that. Yes, the Writers Guild and SAG-AFTRA had that very painful extended 118-day strike two-and-a-half years ago,
almost three years ago now. And you know, I think the vibe is completely different going into this negotiation. The producers have been sending
signals of cooperation and partnership, and we have been sending signals of, you know wanting to be, you know, respectful, responsible.
You know, we are going very early. We've started our negotiations very early so that we can give -- you said complex, it is complex in any cycle
because we represent a whole bunch of different constituencies, stunt performers, background artists, singers dancers, puppeteers, you know so
any -- and they represent on the producer's side, studios, networks, streamers all with different business models.
So, you know, it takes a long time. It is a long dance, but I think everyone is going to work very hard to try and make sure that we achieve a
good deal.
I just want to say one thing, you mentioned how tough it was after the strike. The strike was incredibly difficult. There was a lot of sacrifice,
but I think there is a lot of misattributed causality with the strike to the slowdown.
[16:30:40]
The slowdown, the contraction that the industry experienced was structural. And if you study and as we have all of the annual reports, the filings that
the companies give to the government, to their shareholders, you'll see that they've invested tons of money into infrastructure and other kinds of
investment.
And they're expecting that to mature now. So, and, you know, I think we've already started to see that it's coming back and it will continue to. So,
you know, we -- yes.
NEWTON: Sean, I'll have to leave it there for now. But I certainly hope, as a consumer, as a viewer, that actually we do not hear much about these
negotiations. And you guys just get your deal. And like you said, everyone can continue to enjoy creators and what they're creating on all kinds of
platforms these days.
Sean Astin, we'll speak again. Thanks so much. Appreciate it.
ASTIN: Thanks so much.
NEWTON: Now, a titan of the U.S. Civil Rights Movement has died. We look back on the remarkable legacy of the Reverend Jesse Jackson.
(COMMERCIAL BREAK)
NEWTON: Hello, I'm Paula Newton, and there's more QUEST MEANS BUSINESS in a moment when we speak with the CEO of Pandora about why the jeweler is
replacing silver with platinum in some of its bracelets, and experts in law, medicine and more are training A.I. to do their jobs they say they're
not afraid will put them out of work. Before that, though, the headlines this hour.
[16:35:09]
U.S. negotiators are tackling two international crises at once at separate rounds of talks in Geneva. They met with Russian and Ukrainian diplomats on
the war in Ukraine and held indirect negotiations with Iran over its nuclear program. Iran says they agreed on guiding principles that could
pave the way for a deal.
Police say they've not yet matched DNA taken from a glove found near the home of Nancy Guthrie, the Pima County Sheriff's Department says the glove
DNA was compared to records in the federal database of known offenders. Nancy Guthrie has been missing since February 1st. She's the daughter of
NBC's Savannah Guthrie.
The Reverend Jesse Jackson, a towering figure of the Civil Rights Movement, has died at the age of 84. He had been hospitalized in recent months and
was under observation for a rare neurological condition. His family did not disclose the cause of death.
And we do have more now on the death of Jesse Jackson, a protege of Martin Luther King, Jr. Jackson is remembered as a tireless advocate for the
marginalized. His two presidential campaigns profoundly reshaped the Democratic Party.
CNN's Abby Phillip takes a closer look at Jackson's life and his legacy.
(BEGIN VIDEOTAPE)
ABBY PHILLIP, CNN CORRESPONDENT (voice-over): Jesse Jackson's life was defined by a relentless fight for justice and equality.
JESSE JACKSON, CIVIL RIGHTS LEADER: I was born in Greenville, South Carolina, in rampant radical racial segregation. Had to be taught to go to
the back of the bus or be arrested.
PHILLIP (voice-over): Those early experiences drove Jackson to join the Civil Rights Movement.
JACKSON: The fact is, against the odds, we knew there were great odds, we were winning.
PHILLIP (voice-over): In 1965, he began working for Reverend Martin Luther King, Jr.
JACKSON: I learned so much from him. Such a great source of inspiration.
PHILLIP (voice-over): King named Jackson to lead Operation Breadbasket in Chicago, an economic justice campaign for black people. However, some say
King was frustrated by Jackson's brashness and ambition.
JACKSON: I'm sure he thought I needed more time. I was 24 years old.
PHILLIP (voice-over): Both men were in Memphis in April 1968 to support striking sanitation workers. King and other civil rights leaders were
staying at the Lorraine Motel.
JACKSON: He said, Jesse, you know, you don't even have on a shirt and tie. You don't even have on a tie. We're going to dinner. I said, Doctor, it
does not require attire, just an appetite. We laughed and said, Doc, and the bullet hit. Everything changed at that moment. It was a defining moment
in the history of our struggle.
PHILLIP (voice-over): With King gone, his movement was adrift. Years later, Jackson formed Operation Push, pressuring businesses to open up to black
workers and customers and adding more focus on black responsibility, championed in the 1972 concert Wattstax.
JACKSON: In what we have shifted from burn, baby, burn, to learn, baby, learn.
PHILLIP (voice-over): And he expanded his own global reach, too, helping to free U.S. Lieutenant Robert Goodman, who was held by Syria after being shot
down, and later, other Americans held in Cuba and Serbia.
JACKSON: I learned how to negotiate as an African-American growing up among white people. You have to negotiate every day.
PHILLIP (voice-over): The reverend set his sights on the White House in 1984.
JACKSON: Milking cows and coming back to the inner cities. So, I learned a lot during that period.
PHILLIP (voice-over): First thought of as a marginal candidate, Jackson finished third in the primary race with 18 percent of the vote.
That campaign almost went off the rails when Jackson used an ethnic slur to refer to New York Jews.
JACKSON: There's mistakes, and they hurt.
PHILLIP (voice-over): He ran again in 1988, this time doubling his vote count and finishing in second in the Democratic race.
JACKSON: Keep hope alive. Vote tomorrow night.
PHILLIP (voice-over): At the time, it was the farthest any black candidate had gone in a presidential contest.
JACKSON: But 20 years later, when President Barack ran, we were laying the groundwork for that season.
PHILLIP (voice-over): In 2017, Jackson had a new battle to fight, Parkinson's disease, but that didn't stop him.
JACKSON: If you hold on and your cause is right and your grip is tight, you'll make it.
PHILLIP (voice-over): Late in life, he was still fighting. He was arrested in Washington while demonstrating for voting rights. His silent presence at
the trial of Ahmaud Arbery's killers prompted defense lawyers to ask that he leave the courtroom. Jackson stayed.
JACKSON: I am, I am somebody. I am. I am somebody.
[16:40:07]
PHILLIP (voice-over): From the Jim Crow South, through the turbulent '60s, and into the Black Lives Matter Movement, Jesse Jackson was a constant,
unyielding voice for justice.
(END VIDEOTAPE)
NEWTON: Now to the growing fallout from the Epstein files. Six companies linked to Sarah Ferguson, the former wife of Andrew Mountbatten-Windsor,
are to be shut down. Recently released files show the former duchess of York maintained a relationship with Jeffrey Epstein even after he was
convicted of soliciting sex from a minor. That's something she previously denied.
Max Foster has more.
(BEGIN VIDEOTAPE)
MAX FOSTER, CNN ROYAL CORRESPONDENT (voice-over): Six companies listing Britain's Sarah Ferguson as sole director are set to shut down as the
Epstein firestorm rolls on.
The former duchess and her ex-husband Andrew Mountbatten-Windsor are under renewed scrutiny over their ties to the late financier after Epstein
pleaded guilty to prostitution charges involving an underage minor. Last year, Ferguson's spokesperson said she had cut off relations with Epstein,
quote, "as soon as she was aware of the extent of the allegations against him." DOJ files suggest otherwise.
Epstein's crimes were publicly reported in 2006, the year he was also first arrested. The latest tranche of files released by the Department of Justice
revealed the depth of Ferguson's friendship with the late financier, with one e-mail thread discussing a lunch date in Palm Beach. This was 2009,
just five days after Epstein was released from jail after serving 13 months.
"It'll be myself, Beatrice and Eugenie," Ferguson tells him, referring to her daughters at the time aged 20 and 19 years old. "Cannot wait to see
you," she tells Epstein in a subsequent e-mail. Another exchange between Epstein and his assistant shows that he paid more than $14,000 to fly the
duchess and the two princesses to the U.S. on that trip. Just days later, Ferguson thanks him for being, "the brother I've always wished for," and
the following year she goes as far as saying, "You're a legend. I'm at your service. Just marry me."
Then in March 2011, Ferguson publicly apologizes for being associated with Epstein, saying in an interview, quote, "I abhor pedophilia and any sexual
abuse of children and know that this was a gigantic error of judgment on my behalf." Except that in private she appears to apologize to Epstein for
publicly denouncing him, calling him a supreme friend. Ferguson's spokesman told British media this e-mail was sent in the context of advice the
duchess was given to try to assuage Epstein and his threats.
Now publicly available documents show that in the past few days six companies which list Ferguson as the sole director all filed an application
to strike the company off the U.K.'s official companies house register. It's not clear exactly what services those companies provided or whether
they were active at all.
We reached out to Ferguson's representatives multiple times for comment on the exchanges seen in the Epstein documents. CNN has also requested comment
from Princesses Beatrice and Eugenie.
Max Foster, CNN, London.
(END VIDEOTAPE)
NEWTON: OK. Up next for us, Meta CEO Mark Zuckerberg set to testify in a landmark case over social media and addiction. We'll have those details
next.
(COMMERCIAL BREAK)
[16:46:19]
NEWTON: Meta CEO Mark Zuckerberg is set to testify tomorrow in a landmark social media addiction case. The plaintiffs say 20-year-old woman and her
mother accused Meta and YouTube of intentionally designing addictive and harmful features. Zuckerberg has repeatedly gone before Congress to address
concerns about his company. Wednesday will be the first time, though, that he testifies in front of a jury.
Clare Duffy has the latest.
CLARE DUFFY, CNN TECH CORRESPONDENT: Yes, this is absolutely going to be one of the biggest days in this trial. Mark Zuckerberg taking the stand to
testify for the first time before a jury about these claims that his platforms have harmed young users. And also in the audience tomorrow are
going to be families, parents, who say their children were harmed or died as a result of social media.
And what I think is really remarkable is that among the parents that are flying from around the country into L.A. in hopes of securing a seat in
this courtroom, are parents who are also in the audience in 2024 on Capitol Hill. In that moment that you'll remember where Mark Zuckerberg turned
around to face families and apologized for the harms that they say their children experienced online.
Now, we expect that Mark Zuckerberg tomorrow will be asked questions that try to get at the reasonableness of the steps that this company has taken
to try to protect teens and children on the platform. These questions that are going to ask what the company knew about the potential risks to young
people, and whether it did enough. And we know that there are internal Meta documents that have come out in the course of this litigation that suggest,
for example, that only a small number of teen users, as of around this time last year, were actually enrolled in parental oversight tools.
So those are the kinds of things that we think that Mark will get asked about during his testimony. I'm also told by legal experts that it's going
to be very important how Zuckerberg presents on the stand. Does the jury find him likable and trustworthy? So lots to watch there, and just a
reminder of what the stakes are here for both Meta and YouTube, which are the defendants in this case.
If the jury sides with the plaintiff here, that could set a precedent for hundreds of other similar cases to be resolved in a similar way and
potentially put these companies on the hook for billions of dollars in damages and also require them to make changes to their platforms.
Now this moment is especially critical for Meta, given that at the same time that this L.A. trial is going on, the company is also standing trial
in a separate case in New Mexico, accusing the company of being complicit in child sexual exploitation on its platform.
So two really critical trials happening at the same time. Meta has denied the claims in both of them. And with regards to this L.A. trial, the
company says it strongly disagrees with these claims and that it thinks that its record of protecting young users online will speak for itself. Of
course, ultimately going to be up to the jury to decide.
Back to you.
NEWTON: Our thanks to Clare Duffy for giving you the preview of that testimony, and in fact, it will be watched closely in other jurisdictions.
OK. Up next for us, Pandora jewelry is going platinum. Why the company is reducing its classic sterling silver inventory.
(COMMERCIAL BREAK)
[16:51:58]
NEWTON: So silver prices are down for now nearly 6 percent. As you can see there Tuesday alone. Now the precious metal, though, has been on a roller
coaster in recent months. It soared to record highs last month. You can see some of the volatility there. It's been quite severe and it's forced
jewelry maker Pandora to try and adapt here.
Earlier this month, the company decided to introduce a collection of platinum plated products. Berta de Pablos-Barbier is here and she is the
CEO of Pandora.
I want to welcome you to the program. This is something that interests a lot of people, especially when you look at the price of jewelry and you
know how that's going to translate given what they see in the prices of both silver and gold. This seems quite a pivot for your brand. What has
been the challenges and why pivot to the platinum plated?
BERTA DE PABLOS-BARBIER, CEO, PANDORA: Yes, Paula, as you were saying, the silver price have increased. They have basically quadrupled in this year.
So of course that is a big challenge for a jewelry brand. We want to make sure that our consumers are not paying four times the price for their loved
pieces at Pandora.
This is more of an adaptation, as you said. I mean, in Pandora, we've been disrupting the jewelry industry since our conception. In the '80s we
decided to go and bring accessibility in jewelry. We launched lab grown diamonds. So this is another step, another important innovation. And it's
about launching platinum plated jewelry that is actually being built on our unique metal alloy that we've trademarked Pandora Evershine.
NEWTON: And when you say it's Evershine, what are some of the properties of it? Is it easier to take care of? But then conversely, some might worry it
isn't really the heirloom that a piece of gold or a piece of silver might be.
DE PABLOS-BARBIER: Well, a platinum is a high quality precious metal. And what we are doing is making sure that we are bringing a new product
actually that they are superior to silver in many ways. Platinum is hardened -- harder than silver as a metal. So that actually allows us to
develop pieces, that when we plate our unique metal alloy, are actually more resistant to scratching. They don't tarnish as silver does, and
basically is better for everyday use.
You can take it into the water, to the beach, whatever use you want to do. So we are addressing a challenge in our increased commodity prices while
offering a better product for our consumers.
NEWTON: And as we are discussing these challenges, how have you guys been navigating tariffs and has it pressured margins for you?
DE PABLOS-BARBIER: Yes, of course tariffs have been impacting our PNLs, other companies. And we have managed to absorb all the tariffs on -- in
2025 when we had this hit. And we actually end up delivering the same EBIT that we planned to. So they've been already absorbing our PNLs so 2026
shouldn't be any different.
NEWTON: When you say absorbing, though, I do wonder about the consumers here. I mean, look, jewelry is a discretionary spend and sometimes that can
be a tough sell these days, especially because people want this affordable luxury.
[16:55:05]
And yet that's an oxymoron, right? It seems that luxury is not affordable anymore. So I'm wondering how you've been able to navigate that.
DE PABLOS-BARBIER: Yes, I mean, the important thing for us is to continue to offer accessible, high quality, well-crafted products to our consumers
and our customers, and this is what we have continued to do at Pandora. There has been some slight price increases to our products, but the
important thing is that we continue to be affordable and we continue to offer the high quality to our consumers.
That is never going to change. Thus, one of the reasons why we're introducing this platinum plated jewelry to continue to offer great,
accessible high quality products to all our customers.
NEWTON: So while I realize you're in dozens of markets, I am wondering what kind of pressure you are seeing in consumers right now especially in the
niche that you guys are going for. It's affordable luxury. It's people that can't afford to get, you know, a piece that costs several hundred or
several thousands of dollars.
DE PABLOS-BARBIER: Yes, I mean, the U.S. is really a great market for us. I mean, a third of our revenue is actually made in the U.S. We have 500
stores. We have 8,000 people working in this market. And it continues to be a market that is growing.
Now, it is true that we saw some consumer sentiment decline in the holiday season last year, and that has impacted a little bit the traffic to our
stores and therefore our revenue. We don't know what 2026 is going to be about, but we are there to offer the great pieces to the customers that
love us and we'll continue to do so.
NEWTON: Right, I don't have a lot of time left. But I want to ask you, asking for a friend here, in terms of trends what are you seeing? It is so
difficult to know sometimes, you know, what you should be buying to really get into the market for mainly young women.
DE PABLOS-BARBIER: I get it. So basically Pandora -- it's easy. But at Pandora we have a lot of choices and actually this is about choosing what
better represents who you are and what is the identity that you want to put out there. So of course we have our traditional bracelets with the silver
charms. We have gold plated jewelry. We have many options. And you know, the best trend is just to wear makes you feel better and what makes you
feel beautiful. That's the best advice I can give you.
NEWTON: Hard to know, though, exactly. Especially these days as tastes have been changing so quickly.
Barta, we appreciate you letting us in just on the dynamic nature of the jewelry market for sure. Appreciate it.
DE PABLOS-BARBIER: Thank you for having me, Paula. Nice seeing you.
NEWTON: OK. And that does it for this edition of QUEST MEANS BUSINESS. I'm Paula Newton. "THE LEAD WITH JAKE TAPPER" starts now.
(COMMERCIAL BREAK)
END
