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 morning 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
The Business Roundtable, led by Jamie Dimon, gives a new definition of the "purpose of a corporation."Marketsread more
Amazon has acquired some assets and employees of E8 Storage, a small start-up that built data center data storage hardware. Terms of the deal weren't disclosed.
A person familiar with the matter confirmed the deal to CNBC on Wednesday and said that all employees received job offers from Amazon Web Services, Amazon's cloud unit. The Israeli media outlet Globes reported on the deal earlier.
Amazon has long held the leadership position in the market for public cloud infrastructure, staying ahead of Microsoft, Google and others. AWS has come to be a crucial provider of profit for Amazon as a whole. Part of AWS' strategy has been to design custom infrastructure to meet its own needs, and acquisitions have contributed to that effort.
Now AWS has picked out a company that specializes in hardware that uses flash storage for fast performance. The E8 website boasts that the company's hardware products "provide up to 10 times the performance of other all-flash-arrays, with consistently strong performance and low latency."
Amazon bought Israeli data center hardware company Annapurna in 2015. The Annapurna group has continued to operate and has since pumped out hardware such as chips for ARM-based computing instances that are available on AWS.
E8 was founded in 2014. In 2016 it said that it raised $12 million, with investments coming from Accel, Magma Venture Partners and Vertex Ventures.