Targets not met. Walmart posted lower-than-expected results for the fourth quarter, and said it expects online sales growth to slow this year.

Downsizing. As it restructures its global business, General Motors announced that it would cease operations in Australia and New Zealand and sell its Thai plant, resulting in charges of $1.1 billion.

A new champion. Alstom is going to buy the rail activities of the Canadian Bombardier for 6.2 billion €, by financing the operation by a capital increase which will make the Caisse de dépôt et placement du Québec its first shareholder (18%), in front of Bouygues, diluted to 10%. The new company will become the number two in the sector, behind China's CRRC. The antitrust pitfall will have to be overcome in certain markets.

Shock wave. Apple's warning is causing damage to the European semiconductor ecosystem: STMicroelectronics, ASML, Soitec and Infineon are falling heavily.

Domino effect. The setbacks of Apple, which has issued a warning because of the coronavirus, could do Samsung's business: the Korean company produces half of its smartphones in Vietnam. Last week it was Xiaomi who warned that its performance will be affected by the virus. The crisis is catching up with non-Chinese multinationals.

Massive job cuts. HSBC still hasn't found its new boss and is launching a new $4.5bn XXL cost-cutting plan, while reducing its targets. The interim CEO has found the results of some divisions unacceptable. 35,000 jobs will be cut. The British giant still employs 240,000 people worldwide.

Bezos is greening its image. Jeff Bezos, the CEO of Amazon.com, will spend $10 billion to fight the consequences of climate change. "Climate change is the biggest threat to our planet," he wrote on Instagram. The Bezos Earth Fund will fund projects starting next summer. Before him, Bill Gates or Michael Bloomberg had already released large sums of money for the climate.

Uchida is committed. Nissan's managing director Makoto Uchida believes that the company's accounts will remain under pressure until the end of the fiscal year in March. The new chief operating officer explained that he links his future to the company's successful turnaround. "This is my commitment: if the economy remains uncertain, you can fire me immediately," he said.

Banking consolidation. Intesa Sanpaolo has offered to buy UBI Banca for €4.86 billion in shares. A source close to Intesa said the deal was not submitted in advance to UBI Banca's management, but that it was not hostile. It remains to be seen how the target will react.

KONE is giving up. KONE is withdrawing from the ThyssenKrupp elevator divestment process, which involves two private equity firms competing against each other. The first successful consortium is comprised of Blackstone, Carlyle and the Canadian Pension Plan Investment Board and the second or Advent and Cinven.

In other news… Brussels expanded its investigation into Ryanair's marketing agreements in Spain. Thierry Breton reminds Facebook that it is the company that has to adapt to Europe and not the other way around. Dell is close to selling its RSA Security division for $2 billion to STG Partners, according to Dow Jones. Sonova recalls cochlear implants in the United States. KBC is strengthening its position in Slovakia.