Financial Daily Dose 2.27.2020 | Top Story: Ninth Circuit Limits First Amendment Application on Tech Platforms

Robins Kaplan LLP

Robins Kaplan LLP

The Ninth Circuit has ruled unanimously that privately operated internet platforms are “free to censor content they don’t like”—a “not unexpected” ruling that nonetheless “marks the most emphatic rejection . . . that YouTube, Twitter, Facebook and other giant tech platforms are bound by the First Amendment” – WSJ and Law360

Getting to know new Disney CEO Bob Chapek, a numbers guy and skilled tactician “with little time or interest in niceties,” who appears to bringing with him a definite change in style from the “charismatic and cosmopolitan” Bob Iger – WSJ and NYTimes

Nestle has announced plans to cut all international business travel until the ides of March and limit domestic travel for the foreseeable future in response to the virus. Other companies, like Goldman Sachs and Siemens, are limiting business travel to more narrowly defined destinations – WSJ

Even as COVID-19 continues to disrupt businesses and wreak havoc on the financial world, some investors are betting on a small band of stocks associated with emergency preparedness to benefit from what’s looking like a pandemic. Think canned goods, heavy-duty cleaners, and frozen foods, for starters – NYTimes

And, FYI, at least one former Fed Chair is concerned about what the virus could mean for the U.S. economy’s longer-term prospects – Bloomberg

Which makes this an especially timely reminder of the importance of some perspective whenever markets dive like they have this week – NYTimes

The Journal dives deep to chart the rise of SoftBank’s Rajeev Misra, the man heading Masa Son’s $100 billion Vision Fund, who landed that top spot not by traditional “corporate ladder-climbing” but instead by “striking at two of his main rivals inside SoftBank with a dark-arts campaign of personal sabotage” – WSJ

The CFPB has opened a probe to investigate Discover Financial Services’ student-loan servicing practices and the company’s compliance with a 2015 consent order – Bloomberg

Connecticut federal judge Janet Bond has thrown out the foreign bribery conviction of former Alstom SA exec Lawrence Hoskins “after finding prosecutors failed to prove the defendant was an agent of the company’s U.S. subsidiary.” The Court did leave a money-laundering conviction undisturbed – Law360

US antitrust regulators have put the kibosh on a plan from Peabody Energy and Arch Coal to “combine their operations in a major coal-production region,” concluding that the merger would “limit competition and raise prices” – WSJ

It’s 2am in Paris. Forget the discotheques.  How about a little Leonardo at the Louvre instead?  – NYTimes

On assignment tomorrow, so we’ll see you back here on Monday.  Have a great weekend.

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Robins Kaplan LLP

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