A shock warning… Apple says it will fail to meet quarterly revenue guidance, as the coronavirus outbreak disrupts iPhone sales and weighs on demand. Asian Apple suppliers sell off, dragging on the broader equity markets. HSBC says 35,000 jobs will be lost over the next 3 years amid the lender's strategy overhaul. The bank's shares see red in Hong Kong after full-year profit misses expectations, falling 33 per cent. In commodities news, strong iron ore prices help lift half-year profit at BHP but the miner still posts a slight miss, as CEO Mike Henry tells CNBC the coronavirus impact has been limited. In Italy, Intesa Sanpaolo makes a nearly €5bn bid for UBI Banca, which could create the eurozone’s seventh-largest bank. And Facebook’s CEO Mark Zuckerberg is in Brussels where the EU’s industry commissioner saying the social media giant must adapt to the bloc’s rules rather than the other way around.
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