Apple said revenue in the current quarter is expected to take a hit owing to the coronavirus in China, although it did not say by how much. Photo credit: Nikkimeel/Shutterstock.com
Jeff Bezos starts climate change fund, EU to start new Libya mission and California cabbie foils scammers. Delano’s breakfast briefing for Tuesday.
Coronavirus takes bite out of Apple
Apple warned of potential iPhone shortages and that revenue for the financial quarter ending in March would fall short of expectations because of the covid-19 coronavirus. The consumer tech giant said supplier factories were slow to resume full production and that sales in China, its third largest market, were down notably due to weak demand and store closures. Sources: Associated Press, BBC, Bloomberg, CNBC, Financial Times, Reuters and Seeking Alpha.
Recession worries as Japan GDP shrinks
Japan’s economy contracted by 6.3% during the 3 months to December, after a rise in consumption tax. The figures cover the period before the coronavirus was felt, leading to concerns that Japan will enter recession during the current quarter. Sources: BBC, Financial Times and The Guardian.
The French train-maker Alstom will acquire the rail unit of Canada’s Bombardier in a deal worth €7.45bn (including debt). If completed, this would create the world’s second largest rail outfit. Sources: AFP, Bloomberg, CBC, Deutsche Welle and Reuters.
Zuckerberg faced pushback in Brussels
The EU rejected Facebook’s proposal for light-touch regulation of social media. Thierry Breton, the European internal markets commissioner, told Mark Zuckerberg, Facebook’s CEO, the firm had to take more responsibility for misinformation and illegal content. Sources: Financial Times, Politico and Reuters.
EU to start fresh Libya mission
The EU will begin a new naval operation in March to enforce the UN arms embargo on Libya, in an attempt to dampen the civil war there, but will wind down its Mediterranean migrant rescue mission. Sources: AFP, Deutsche Welle, Euractiv, The Guardian and Politico.
Displaced Syrians at new high
The UN said the refugee crisis in northwestern Syria reached a “horrifying new level” with the number of displaced people rising to 900,000. Sources: Deutsche Welle, France 24 and Reuters.
Downing Street aide quits over eugenics, IQ statements
Andrew Sabisky, an advisor to the British PM Boris Johnson, resigned following criticism of allegedly racist comments he made in the past. Sabisky said he had been selectively quoted. Sources: BBC, CNN, The Guardian, Reuters and Sky News.
A California taxi driver saved a 92 year old woman from handing over $25,000 to scammers after hearing her plans to pay a fake tax bill and convincing her that he should drive her to a police station instead of the bank to get the money, per CNN, Los Angeles Times and Sacramento Bee.