The attacks come after state and local ransomware attacks in New York, Louisiana, Maryland and Florida resulted in the loss of significant sums.Technologyread more
China's pursuit of the Middle East may spur growth in the Islamic finance sector.World Economyread more
Twitter and Facebook have suspended accounts believed to be tied to a state-backed disinformation campaign originating from inside China.Technologyread more
United States Steel Corp will temporarily lay off hundreds of workers at its Great Lakes facility in Michigan in coming weeks, according to a filing the steelmaker made with...US Marketsread more
The report comes as Trump in recent days has lashed out over media reports about growing recession fears.Politicsread more
Beijing will lower borrowing costs for companies, but that may not boost the economy as much as some hope.China Economyread more
Stocks are bouncing higher but could be trapped in a range longer term, until there's a resolution of the trade wars.Market Insiderread more
Stocks in Asia edged higher Tuesday morning as investors await the release of minutes from the Reserve Bank of Australia's July meeting. The People's Bank of China is also set...Asia Marketsread more
Powell will have the opportunity if not to walk back the "midcycle" assessment then to at least provide some further explanation about what it means.Economyread more
Apple has spent more than $6 billion on original TV shows and movies for its forthcoming Apple TV+ service, according to a Financial Times report on Monday.Technologyread more
The Business Roundtable, led by Jamie Dimon, gives a new definition of the "purpose of a corporation."Marketsread more
An Apple executive responsible for operating data center infrastructure for some internet services -- an increasingly important area for the company -- has left, two sources have told CNBC.
Eric Billingsley, director of internet services operations at Apple, was in charge of operating infrastructure for iCloud services, including the iCloud Drive document storage service that competes with services like Dropbox and Microsoft's OneDrive.
A source close to the situation said that Billingsley's old team is reporting to engineering vice president Patrice Gautier.
Apple declined to comment.
Apple has informed the people under Billingsley -- a veteran of eBay and Google who came to Apple in 2013 -- about his departure, one source said.
Data center infrastructure in the past has been "a bit of a problem child," the source said, and another person who reports to Gautier, Patrick Gates, has been "righting the ship." Gates continues to run infrastructure for some services, including Siri.
Apple in 2015 decided to use Gates' group's infrastructure for more services, including iCloud, The Information reported last year.
Billingsley's organization has relied to a degree on external public cloud providers like Web Services and Azure to handle the computing needs of services like iCloud. A major AWS outage in February impacted Apple Music, iCloud services and iTunes, among other things. Billingsley's exit could signal that Apple plans to depend less on external cloud services and more on its own data center infrastructure as part of its Project McQueen effort.
While devices and specifically the iPhone bring in more revenue than anything else at Apple, internet services have taken on greater importance recently.
In April 2016 Apple began playing up the importance of its services business as iPhone revenue and overall revenue slipped for the first time in years. "Over the last 12 months, our services business has become the size of a Fortune 100 company, a milestone we've reached even sooner than we had expected," Apple CEO Tim Cook said on the company's earnings call in August.
Correction: Billingsley's old team reports to engineering vice president Patrice Gautier, not Patrick Gates, as sources originally told CNBC.