ewen: two things.n the retail side, we are getting back to where we think we have core competitive advantages. what you see is a 30% reduction where we are predominately focused on the east coast. and secondly, on the global market side, reducing our presence in the u.s. quite materially and looking to concentrate that business into london. thank you so much for joining us coming ewen stevenson. go ahead. ewen: thank you. thank you for the time today. nejra: thank you so much for joining us. ewen stevenson, cfo from hsbc. coutts &ins from company is still with us. a dividendpay yield of 7%. 2% more shares every year. low, iterest rates so know we are not talking about a corporation here but a bank with --ulatory ratios manus: is it a mistake? alan: i am just an investor. ewen is a financial director. , over five years of shares with consistent buybacks. hsbc, the shares have gone nowhere in five years. has a very strong u.s. domestic market. nevertheless, the european and other global bank struggled to

ewen: on coronavirus, it is evolving.u can see in our fourth-quarter results, we had resilient performance in hong kong. profits were up 3% on the year before. overall, we are continuing to monitor the effect of the coronavirus. i think we are going to have to take additional provisions as a result of that. very much a call on, how long does the virus continue? can you give us any indication on the slowdown in lending, the reaction in china and hong kong in the first month of 2020? may coronavirus come alive in terms of the actual reality for the business or the markets? ewen: we have had to put a lot of contingency planning around operational centers. our centersome of for our customers, when you look at the actual numbers, they continue to be robust. but i think we are seeing some customers obviously struggling at the moment. sectors,he real estate anything dependent on tourism into hong kong. so far the credit matrix continues to be robust. manus onsetught with us to talk about the interview. is it going to be enough?

my guest is golden gone w en glg act actor ewen mcgregor and we talk about "birds of prey" and he's alsoht saber again, reprizing his role in a new "star wars" series. our sunday sitdown plus, the latest news and politicians. catch us in the morning or set your dvr and watch us any time you look for now, back to you, francis and cori, and i'll see you sunday morning >> thank you >>> and we'll see bill karins now with the weekend forecast. >> we'll be watching northern new england clearing out it will be chilly, and the next storm in the rockies will head through the plains and the great lakes by saturday night and sunday wisconsin could get significant snow it looks too warm in chicago mi. >> thank you >>> the cowboy legacy you might not know about, when we come back my gums are irritated. i don't have to worry about that, do i? harmful bacteria lurk just below the gum line. crest gum detoxify, voted product of the year. it works below the gum line to neutralize harmful plaque bacteria and help reverse early gum damage. gum detoxify, from crest. for bathroom odors that linger try febreze

francine: that was hsbc chief financial officer ewen stephenson, speaking to us exclusively.eaking into a conference call after they did the chiefal, or executive sake the execution risk of the upi deal is very low. he also sees synergy estimates on a possible upi deal. gaining 22%.pi we will have plenty more on the m&a in the italian banking landscape. this is bloomberg. ♪ francine: this is "bloomberg surveillance." let's get back to the top story. the coronavirus outbreak is having an impact on one of the world's most valuable companies. apple does not expect to meet revenue violence for the march quarter, demand for iphones being reduced in china because stores are operating at reduced hours. more than 16% of revenue came from greater china last year. let's get straight to the partner at -- what is the biggest concern for china? is that the supply chain or loss of revenue coming from chinese stores and chinese shoppers? >> for apple it sounds like it is more of the latter. the slowdown in expectations that they reported. for most people i talked to on the ground, it is the

ewen: we have had to put in a lot of contingency planning around our operational centers a lot of myare able to work at home rather than go into some of our office centers where for our customers, when you look at the actual january numbers, they continue to be robust. i think we are seeing some customers obviously struggling at the moment, particularly those in the returning sector, some of the real estate sectors, anything that wasn't tourism in hong kong. the credit matrix continue to be robust. cfo speaking exclusively to bloomberg early on. let's get some analysis on hsbc. joining us is the head of global bank research joining us from citi. the market did not take this restructuring well. was it not enough? was it wrong in the way it was portrayed? what was the problem? >> two things to flag. first of all, the general banktor fatigue about big restructuring, particularly u.k. european banks. these restructurings have been going on forever, it feels like. there is a shorter-term phenomenon which is that the shares are trading up in the last few weeks into these results. in a shor

cfo ewen stephenson a little early today.us is starting to have a big impact on the auto sector. car sales in china have fallen sharply, and factories around the world are starting to run short of key components as their supply chain gets stretched. joining us from the national automotive innovation center in the u.k. is ralf speth, ceo of jaguar landover, which just announced a new plan called project vector. thank you for taking time to be with us. i would like to talk about the car behind you in just a moment, but the big story in the sector right now is the coronavirus. i am wondering if jaguar land rover is having any problems with its supply chain. dr. speth: we are checking the situation on a daily basis for now, and for the next weeks, we are safe in the u.k., but we also will start production from next week onwards in china again. so we are safe for the short term. however, i cannot give you any forecast for the long-term future because it depends on the coronavirus and how the chinese government is going to orchestr