FT News Briefing Wednesday, January 29
Jan 29, 2020
Apple breaks revenue records during the holiday season, while Starbucks shuts down over half of its locations in China due to the coronavirus. Tensions rise in politics as GOP leaders attempt to block witnesses in Trump's impeachment trial, coinciding with his new Middle East peace proposal. Meanwhile, Goldman Sachs shifts focus towards consumer banking, aiming for transparency and diversification, all while preparing for its first-ever investor day in a bid to meet investor expectations amidst market challenges.
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Apple's Record-Breaking Quarter
- Apple experienced record revenue and income during the holiday season, driven by strong sales of iPhones, AirPods, watches, and services.
- This success contrasts with the previous summer's iPhone sales slump and has significantly boosted Apple's stock price.
Starbucks and the Coronavirus Impact
- Starbucks closed over half of its Chinese stores due to the coronavirus, impacting its financial results.
- However, U.S. sales remained strong, increasing by 9% in the last quarter.
Impeachment Trial Update
- Senate Republicans aimed to block witnesses in Trump's impeachment trial, despite some wanting to hear from John Bolton.
- Senators will submit questions before voting on allowing witnesses.