FT News Briefing Thursday, July 25
Jul 25, 2019
Former special counsel Robert Mueller highlights the looming threat of Russian interference in U.S. elections. Facebook faces an antitrust investigation by the FTC, stirring concerns over corporate accountability. Tesla reveals deeper-than-expected losses, putting its profit margins under scrutiny. Meanwhile, UK Prime Minister Boris Johnson promises to deliver Brexit within 99 days, signaling a pivotal moment in political history. These discussions blend finance and politics, revealing the interconnectedness of industry and governance.
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Mueller's Warning
- Robert Mueller warned about future election tampering, calling Russian interference a serious challenge to democracy.
- Despite giving limited answers in his testimony, he emphasized the ongoing threat.
Facebook's FTC Troubles
- Facebook faces an antitrust investigation by the FTC, alongside a $5 billion fine for privacy violations.
- This record fine had little impact on Facebook's share price, suggesting investors anticipated such an outcome.
Tesla's Financial Performance
- Tesla posted deeper losses than expected due to falling profit margins and price cuts for the Model 3.
- Despite this, their cash position improved with positive free cash flow and $5 billion on hand.