While the U.S. gave Huawei a 90-day reprieve, allowing American businesses to keep selling specific products to the Chinese firm, it also added more affiliates of the...Technologyread more
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 mostly traded higher Tuesday afternoon as minutes from the Reserve Bank of Australia's July meeting were released. The People's Bank of China also published its...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
Apple this week revoked the enterprise developer licenses of Facebook and Google, temporarily disabling internal employee-only apps, after reports that each company had side-loaded apps onto Apple's operating system that violated the company's rules. The license suspensions halted app development inside both companies and disrupted basic corporate functions until the privileges were restored Thursday night.
Facebook employees couldn't access even their calendars or company transit schedules, according to a report by The New York Times. Facebook will now have to rebuild "a few dozen" internal apps, which could take weeks, according to a company memo defending the company's research app obtained by Business Insider.
Both news outlets reported some Facebook employees blamed Apple for the snafu and thought of the suspension as an act of retaliation in the companies' ongoing feud.
"Apple's view is that we violated their terms by sideloading this app, and they decide the rules for their platform," Facebook executive Pedro Canahuati said in the memo seen by Business Insider. "Our relationship with Apple is really important — many of us use Apple products at work every day, and we rely on iOS for many of our employee apps, so we wouldn't put that relationship at any risk intentionally."
Apple CEO Tim Cook has been teasing a privacy standoff with the internet giants. During a speech in Brussels in October, Cook stopped just short of naming Facebook and Google in his comments blasting data collection firms and claiming personal information has been "weaponized against us with military efficiency." He also characterized data collection practices by companies such as Google and Facebook as "surveillance."
And yet this is the first time Cook has taken significant action against Facebook or Google. Apple has previously launched educational privacy measures — user alerts within Safari about data tracking or Time Spent measures on iPhones, for example. But it's never hindered development or access.
The move this week underscored just how much damage Apple could do to Facebook's and Google's core businesses if it wanted to.
Of course, there are reasons to play nice.
Facebook and Google products are among the most popular in the App Store, driving downloads and service fees for Apple's burgeoning Services revenue segment. Google also pays Apple something like billions each year to be the default search engine on products like the iPhone.
Apple said on Wednesday the license suspensions were a means to "protect our users and their data." It remains to be seen whether the company will recycle that logic in the future.
After all, as Canahuati conceded, Apple decides the rules.