UBS must be heartily congratulated for organising a global conference call this week to reassure the many spooked investors out there utterly terrified by the coronavirus outbreak.

Unfortunately, the calling technology let this brave attempt down, I learn from bemused participants. Not since the days of the Stasi have there been so many people listening in, but also cheerily shouting down the line a variety of pressing questions.

This type of communication with clients has become vital. Banks like UBS are halting all international travel for staff, asking its employees to postpone meetings or opt for remote ones because...