France, Italy call off deal for French shipyard as pandemic hits cruise industry

The French and Italian governments have called off a deal for Fincantieri to take a majority stake in the Chantiers d'Atlantique shipyards. The agreement was reached in 2018, but was awaiting approval from the EU's competition regulator. Building cruise ships is a key part of the business and given the slump in travel due to the Covid-19 pandemic, Paris and Rome have agreed to abandon the sale. But first, Apple reports record quarterly revenues of more than $110 billion after a bumper Christmas sales period.