FT News Briefing Friday, May 24
May 24, 2019
Donald Trump suggests that Huawei could play a role in U.S.-China trade negotiations. Facebook reveals it has eliminated a staggering 2.2 billion fake accounts in just three months. JPMorgan Chase distances itself from Purdue Pharma amid ongoing opioid crisis lawsuits. The dominance of Wall Street banks like Goldman Sachs and Morgan Stanley in tech IPOs is scrutinized, particularly in light of Uber's turbulent listing, signaling possible shifts in the tech financial landscape.
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Huawei in Trade Deal?
- President Trump considers Huawei's inclusion in a potential trade deal with China.
- This contrasts with previous U.S. stances on Huawei as a national security threat.
Facebook's Fake Account Takedown
- Facebook removed 2.2 billion fake accounts in Q1 2023, almost equaling its monthly active users.
- This highlights the scale of automated attacks and Facebook's efforts to combat them.
JPMorgan Chase Drops Purdue Pharma
- JPMorgan Chase is severing ties with Purdue Pharma, the maker of OxyContin, due to reputational risks.
- Purdue Pharma faces numerous lawsuits related to the U.S. opioid crisis.