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FT News Briefing

Tuesday, February 18

FT News Briefing

Forhecz Topher

News, Daily News, News & Politics

4.41.3K Ratings

🗓️ 18 February 2020

⏱️ 9 minutes

🧾️ Download transcript

Summary

Apple has warned that disruption in China from the coronavirus will cause its revenues to fall short in the current quarter, Amazon founder Jeff Bezos has announced a $10bn fund to help fight climate change following intense criticism over the e-commerce group’s own environmental impact, and a start-up touted as the “Uber of dry cleaning” collapsed into administration on Friday, wiping out all of its investors, including British businessman Michael Spencer. Plus, the EU has rejected Facebook’s latest vision of how online content should be regulated. The FT’s Javier Espinoza reports on chief executive Mark Zuckerberg’s day in Brussels. 

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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 Tuesday, February 18th.

0:05.3

And this is your F.T. news briefing.

0:08.3

Apple says the coronavirus will hit iPhone sales this quarter.

0:12.1

Jeff Bezos pledges $10 billion

0:14.7

to fight climate change as Amazon faces criticism

0:17.5

over its own environmental record.

0:20.1

And the collapse of a startup called Londrap has taken its big name investors to the cleaners.

0:26.0

Plus Mark Zuckerberg was in Brussels yesterday, presenting Facebook's latest vision of how online content should be regulated, but the EU isn't quite

0:35.2

buying it. I'm Amy Keene and here's the news you need to start your day.

0:41.6

The disruption from the deadly coronavirus The

0:43.3

Disruption from the deadly coronavirus on the world supply chains has claimed the iPhone.

0:49.0

Apple warned yesterday that the manufacturing upheaval in China will cause its revenues to fall short in the current

0:55.0

quarter.

0:56.0

The iPhone maker said it had assumed work would return to normal in China after the New Year

1:00.3

holiday that ended on February 10th, but instead it was experiencing a slower

1:04.8

return to normal conditions than it had anticipated, meaning the supply of iPhones will

1:09.7

be, quote, temporarily constrained.

1:13.0

Apple operates within a just-in-time supply chain, which relies on hundreds of different

1:17.6

component providers and manufacturers all over the world.

1:21.8

One source told the FT that it is so finely tuned that this glitch, or delay, has caught the company

1:27.9

off guard.

...

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