FT News Briefing Tuesday, February 18
Feb 18, 2020
Apple's revenue is expected to fall due to disruption from the coronavirus in China. Jeff Bezos has launched a $10 billion fund to combat climate change, amid criticism of Amazon's environmental impact. A start-up, branded as the 'Uber of dry cleaning,' has collapsed, costing investors dearly. Meanwhile, the EU has dismissed Facebook's latest content regulation proposals, as CEO Mark Zuckerberg faces scrutiny over the company's market power and accountability in the ongoing antitrust debate.
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Apple's Revenue Warning
- Apple's revenue will fall short this quarter due to coronavirus-related disruptions in China.
- The disruption affects iPhone supply and sales due to slower than anticipated return to normal conditions and store closures.
Bezos' Climate Fund
- Jeff Bezos announced a $10 billion fund to combat climate change.
- This follows criticism of Amazon's environmental record and employee pressure for stronger action.
Laundrap's Collapse
- Laundrap, an on-demand laundry service, went into administration, impacting investors like Michael Spencer.
- The company faced cash flow issues and lacked further investor capital.