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
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
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
The report comes as Trump in recent days has lashed out over media reports about growing recession fears.Politicsread more
The Business Roundtable, led by Jamie Dimon, gives a new definition of the "purpose of a corporation."Marketsread more
Tilman Fertitta told CNBC on Monday that he is doing things in a "very conservative way" amid fears of a recession.Marketsread more
Saudi Aramco sent a request for proposal to several banks, people familiar with the matter told CNBC on Monday.Marketsread more
Twitter and Facebook have suspended accounts believed to be tied to a state-backed disinformation campaign originating from inside China.Technologyread more
Leaked documents from Google give fresh ammo to conservative lawmakers who have already accused Google and other tech companies of political bias.Technologyread more
J.P. Morgan estimates the average annual tariff cost per household will be $1,000 with the new round of Trump's tariffs.Marketsread more
Stasior left Apple earlier this year. Prior to his time in charge of Siri, he was a top executive at Amazon.Technologyread more
Apple's new subscription service for news and magazines, Apple News+, had more than 200,000 people subscribe to a free one-month trial in the first 48 hours it was available, according to The New York Times.
It's a critical data point to gauge consumer interest in Apple's new subscription services. Apple News+ is the first of three monthly subscriptions that Apple hopes will transform its business from a hardware maker to a company that makes a substantial amount of money selling services to iPhone users.
The revenue generated at this scale is basically chump change for Apple, which makes most of its money on the iPhone. Plus, given the size of the iPhone user base, the initial wave of sign-ups is still pretty small. On the other hand, the Times says that 200,000 users is more than Texture, the now-defunct app Apple News+ is based on, had during its entire existence.
Apple News+ costs $9.99 per month, or about $120 per year. Assuming that everyone who signed up for the free trial ends up subscribing for an entire year, those 200,000 subs would generate $24 million in sales for the service per year. But Apple would have to pay as much as 50 percent of that revenue back to the publishers that provide content to Apple News, according to the Times.
In addition, there are a certain number of people who have or will cancel before the trial month ends. And Apple certainly has continued to add new trials after the first 48 hours it was available.
Apple Music, a $9.99-per-month streaming music subscription, grew to more than 50 million subscribers in 3½ years, according to a note distributed Tuesday from UBS analyst Timothy Arcuri.
In 2018, Apple services totaled more than $41 billion in revenue, Apple CEO Tim Cook said in January. The company's services division includes fees from the App Store, subscriptions like Apple Music, and fees to make Google the default search engine on the iPhone.
Cook has implied that he wants the company's services business to generate $50 billion in revenue by 2020.
Apple had about $265 billion in total revenue in its fiscal 2018, of which about 60% came from iPhone sales.
Apple has about 900 million iPhones in use, the company revealed in January. However, it's unclear how many of those are from the United States and Canada, the only two regions where Apple News+ is available.
Revenue from subscription services will be bolstered by the other subscription apps that Apple announced last week, including a streaming video service, and a video game bundle. However, both services won't be released until later this year. Apple hasn't announced pricing for either of those services.
UBS estimates that the realistic number of iPhones that Apple could sell services to is 500 million to 600 million devices, based on geography. Apple says it has 330 million paid subscriptions, which includes subscriptions to apps distributed through the App Store.