FT News Briefing Thursday, February 13
Feb 13, 2020
Key headlines reveal Democrats pressing for Attorney General Barr's testimony linked to political influence claims. Berkshire Hathaway's Charlie Munger expresses a bleak outlook on the future. Europe cancels its largest telecoms conference over COVID-19 fears. The U.S. Department of Justice backs Qualcomm's antitrust appeal, complicating regulatory dynamics. Discussions also highlight declining newspaper relevance and the broader economic impact of the pandemic.
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Roger Stone Case
- Roger Stone, a longtime friend of Donald Trump, was found guilty of lying to Congress about his contact with WikiLeaks during the 2016 election.
- After Trump tweeted that the sentencing recommendation was outrageous, the DOJ lessened it, leading to prosecutor resignations.
DOJ vs. FTC on Qualcomm
- The DOJ and FTC, typically aligned, now clash over Qualcomm's antitrust case.
- The DOJ argues against harsh sanctions, citing national security and Qualcomm's role in competing with China's tech advancements.
Munger's Pessimism on News
- Charlie Munger, Berkshire Hathaway's vice chairman, gave a pessimistic outlook on the news industry.
- He believes technological change is destroying American newspapers, evidenced by Berkshire Hathaway's recent sale of 30 local papers.