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FT News Briefing

Friday, January 24

FT News Briefing

Forhecz Topher

News, Daily News, News & Politics

4.41.3K Ratings

🗓️ 24 January 2020

⏱️ 10 minutes

🧾️ Download transcript

Summary

A powerful rebound in Intel’s data centre division drove a stronger than expected recovery in the final quarter of 2019, former Wells Fargo chief executive John Stumpf has agreed to pay $17.5m as part of a settlement with US regulators over the bank’s fake accounts scandal, and the European Central Bank begins its first strategic review in 16 years. Plus, the founder of the opioid maker Insys has been sentenced to five-and-a-half years in prison. The FT’s Hannah Kuchler explains what this means for other US pharmaceutical executives. 

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Transcript

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0:00.0

Good morning from the Newsroom of the Financial Times.

0:02.6

Today is Friday, January 24th, and this is your FT news briefing.

0:08.4

Intel shares jumped on Wednesday night after the chipmaker posted better than expected results for the last quarter of

0:14.2

2019.

0:15.9

Former Wells Fargo boss, John Stump, will have to pay millions over the bank's fake accounts

0:20.8

scandal.

0:22.2

And the European Central Bank kicks off its first strategic review in 16 years.

0:27.0

But first, the founder of opioid maker, Incis, has been sentenced to five and a half years in prison,

0:33.0

all for master mining a scheme to bribe doctors

0:35.6

to prescribe a dangerous painkiller.

0:38.0

Hannah Cushler will tell us more.

0:40.3

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

0:44.0

So on Thursday we saw the first executives from an opioid maker

0:51.0

sentenced to prison time for their role in bribing doctors to

0:57.5

prescribe an opioid. So the Incis founder, John Kapoor, got five and a half years in prison and Alec Burlachoff, who was the

1:06.0

VP of sales, he was very influential in the bribery scheme, got two years because he turned Star Witness for the prosecution. scheme got a

1:15.0

a start witness for the prosecution and so got a slightly reduced sentence.

1:17.0

Right, and about Mr Burlakov, what did you and your team learn from talking to him in the run

1:22.0

up to the sentencing?

1:23.2

Yeah, so we're doing this fantastic collaboration at the FT with the team at PBS

1:29.8

front line who are you know some of the most prestigious documentary makers in the US.

1:34.3

And we're really following the story of Insis, which was the best performing IPO of 2013,

...

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