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Rabu, 31 Juli 2019

Capital One suspect was apprehended in an FBI raid: VIDEO - Business Insider

capital one Drew Angerer/Getty Images

A 33-year-old woman named Paige Thompson was arrested on Monday. Thompson is accused of perpetrating the hack on Capital One that exposed the data of over 100 million customers in the US and Canada.
Thompson lived in Seattle, and was arrested in a raid on Monday at her home.
A video of the raid was published on Tuesday night, and it offers a look into the overwhelming force used to apprehend Thompson.
Visit Business Insider's homepage for more stories.

A 33-year-old woman named Paige Thompson was arrested on Monday in an FBI raid on her Seattle home.

Thompson is accused of hacking into Capital One's servers and exposing data of over 100 million customers in the United States and Canada.

The breach exposed Social Security numbers, bank account numbers, and personal information. There is currently no way to find out if your information was impacted in the breach, but Capital One says it will let customers know through various channels in the future.

On Monday, the FBI executed a raid on Thompson's home which was captured on home surveillance cameras by Thompson's roommates and shared with Seattle NBC affiliate King 5.

Thompson's roommates Ashley and Alexis described the experience to King 5.

"We heard the 'FBI open up," said one of Thompson's roommates. "Green camo, military-like tactical gear."

Thompson is facing one federal charge of computer fraud and abuse; if convicted, she could face a sentence of up to five years in prison and a $250,000 fine.

During the FBI raid on Thompson's home on Monday, both Thompson and another suspect were taken into custody — 66-year-old Park Quan, who was arrested on charges of possessing illegal firearms and firearms augmentations including bump stocks, which are illegal in Washington state.

A video obtained by King 5 of the FBI raid was released on Tuesday night, which you can see right here:

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https://www.businessinsider.com/capital-one-hack-suspect-fbi-raid-2019-7

2019-07-31 15:15:12Z
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Apple proves it can cure its iPhone addiction - CNBC

A girl reacts as she tries an iPhone X at the Apple Omotesando store on November 3, 2017 in Tokyo, Japan.

Getty Images

If you had told any serious Apple observer two years ago that the company's stock would jump after reporting a sales decline for the iPhone, they would've called you nuts.

But that's where we were Wednesday morning after Apple reported in its fiscal third-quarter earnings that iPhone sales fell 12% versus the year-ago quarter. In fact, iPhone sales made up less than half of the company's revenue for the quarter for the first time since 2012. (In the past, iPhone revenue made up as much has two-thirds of Apple's sales.)

That shift proves Apple is kicking its addiction to the iPhone. It's no longer tying its destiny to just one device, but an expanding ecosystem of digital services and hardware accessories that can spur growth and deliver strong results as iPhone sales decline. And in the years to come, there are plenty of opportunities to continue the trend.

Let's take a look at the stats:

Apple booked $25.99 billion in iPhone revenue during its fiscal third quarter. That's down 12% from the year-ago quarter, and 48% of Apple's overall revenue of $53.8 billion. It's also the first time the iPhone made up less than 50% of quarterly sales since 2012.

The wearables business, which includes AirPods, Apple Watch and Beats headphones, brought in $5.53 billion. That's a whopping 48% higher from the year-ago quarter. And the category is now bringing in more revenue than the iPad or Mac businesses. Apple's CFO, Luca Maestri, also said Tuesday that the category's growth is accelerating over 50%.

Apple's new darling, the services business, also showed strong growth. It's up 13% versus the year-ago quarter with $11.46 billion in revenue. (Apple CEO Tim Cook said the growth was as high as 18% if you account for a one-time lawsuit settlement and foreign exchange rates.)

The iPad and Mac businesses are steady. Thanks to a slew of recent upgrades to Macs and iPads, these two businesses were slightly up versus the year-ago quarter. They may not look as exciting as the hyper growth in wearables and services, but they function as an engine of stability for Apple. Plus there are more upgrades expected for Macs and iPads this fall.

Add all of that together, and you have what looks like an increasingly diversified business with more promising growth on the immediate horizon.

That's especially true for the services segment, which is expected to ramp up even more in the second half of this year with the introduction of new products like the Apple Card, Apple Arcade gaming service and Apple TV+ video streaming service. Don't be surprised to see a slew of new services beyond that related to health care, transportation and more.

Still, there are also the obvious caveats. Apple's businesses outside the iPhone remain anchored to the device, which is why the company touts its active iPhone user base instead of the number of units it sells. Each one of those nearly 1 billion users is an opportunity for Apple to grab more sales from services and accessories.

But Apple has showed a willingness to tear down its so-called walled garden and put its digital services on third-party products like Samsung TVs and Amazon's Echo speakers. Cook hinted during Tuesday's earnings call that the trend will continue. And iPhone users remain extremely loyal, even if they're not upgrading as often as they used to. A robust services business only increases the stickiness of the iPhone.

As Tuesday's results showed, the iPhone may be Apple's most important and profitable product, but the company has found a way to diversify and grow without relying solely on it.

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https://www.cnbc.com/2019/07/31/apple-earnings-prove-it-can-cure-its-iphone-addiction.html

2019-07-31 14:17:51Z
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Apple proves it can cure its iPhone addiction - CNBC

A girl reacts as she tries an iPhone X at the Apple Omotesando store on November 3, 2017 in Tokyo, Japan.

Getty Images

If you had told any serious Apple observer two years ago that the company's stock would jump after reporting a sales decline for the iPhone, they would've called you nuts.

But that's where we were Wednesday morning after Apple reported in its fiscal third-quarter earnings that iPhone sales fell 12% versus the year-ago quarter. In fact, iPhone sales made up less than half of Apple's revenue for the quarter for the first time since 2012. (In the past, iPhone revenue made up as much has two-thirds of Apple's sales.)

Let's take a look at the stats:

The wearables business, which includes AirPods, Apple Watch and Beats headphones, brought in $5.53 billion. That's a whopping 48% higher from the year-ago quarter. And the category is now bringing in more revenue than the iPad or Mac businesses. Apple's CFO Luca Maestri also said Tuesday that the category's growth is accelerating over 50%.

Add all of that together, and you have what looks like an increasingly diversified business with more promising growth on the immediate horizon.

Still, there are also the obvious caveats. Apple's businesses outside the iPhone remain anchored to the device, which is why Apple touts its active iPhone user base instead of the number of units it sells. Each one of those nearly 1 billion users is an opportunity for Apple to grab more sales from services and accessories.

As Tuesday's results showed, the iPhone may be Apple's most important and profitable product, but the company has found a way to diversify and grow without relying solely on it.

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https://www.cnbc.com/2019/07/31/apple-earnings-prove-it-can-cure-its-iphone-addiction.html

2019-07-31 13:32:38Z
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GE CFO Jamie Miller to step down as CEO Culp moves forward with turnaround plan - CNBC

GE Chief Financial Officer Jamie Miller.

Getty Images

General Electric announced Wednesday that CFO Jamie Miller will step down from her role but will remain with the company during the leadership transition.

"I deeply value the opportunities I've had at GE over the last eleven years," Miller said in a statement. "With the progress we've made and the stabilization beginning to take hold, the time is right for my transition."

It's been a tumultuous time to be the executive in charge of the financials for the struggling industrial conglomerate. Miller became General Electric's CFO in October 2017, succeeding Jeffrey Bornstein shortly after John Flannery took over as chief executive officer. Flannery was ousted by the board and succeeded by current CEO Larry Culp in late 2018.

"Jamie was the last of the brigade from before and I think what it says – it has nothing to do with her performance – is that Larry has his arms around the change at GE," William Blair analyst Nicholas Heymann told CNBC's "Squawk Box."

Miller joined GE in 2008 as chief accounting officer. She later worked as chief information officer, then became president and CEO of GE Transportation.

"I greatly appreciate Jamie's professionalism, expertise, and many contributions to GE's significant transformation during this critical time," Culp said. "She has been instrumental in developing our portfolio strategy, furthering our efforts to make GE a more focused industrial company, and spearheading our de-leveraging plan during a challenging period."

News of Miller's departure came shortly after GE posted better-than-expected earnings for the second quarter, sending its stock up more than 4% in the premarket. The company also gave a better-than-expected outlook for industrial cash flow.

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https://www.cnbc.com/2019/07/31/ge-cfo-jamie-miller-stepping-down-will-stay-in-role-during-transition.html

2019-07-31 12:06:30Z
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Fed day; Smartphone slide; GE earnings - CNN

The Federal Reserve will announce its decision on interest rates at 2 p.m. ET, followed by a press conference with Chairman Jerome Powell.

It's widely expected that the Fed will cut interest rates for the first time in more than a decade. Attention will then shift to what Powell has to say about the path forward.

Powell could also face questions on why a rate cut is necessary at a moment when the US economy is strong and unemployment remains historically low, and whether cutting rates now could limit the Fed's ability to respond to a future crisis.

The economic impact of the trade fight between the United States and China is likely to come up, too. President Donald Trump's tweets on Tuesday criticizing China indicated that a deal could still be a ways off.

2. Smartphone slide: A saturated smartphone market hit both Samsung (SSNLF) and Apple (AAPL) last quarter. But Apple, unlike Samsung, still managed to grow its revenue.

Profit in Samsung's smartphone business slumped by nearly 42% to 1.56 trillion Korean won ($1.32 billion), and the outlook for the rest of the year looks grim.

"The overall mobile market demand is expected to remain weak due to growing uncertainties over the global economy and trade," Samsung said Wednesday.

Revenue dropped 4% compared to last year as Samsung also faced price declines in its memory chip business. Shares fell nearly 3%.

Apple said Tuesday that iPhone sales for the quarter fell to about $26 billion, a decline of nearly 12% from the same period a year earlier.

But the company managed to grow its overall revenue by 1% from the prior year as it finds more traction selling wearable devices and digital services, including Apple Pay and Apple Music. Shares rose more than 4% in premarket trading.

3. GE earnings: General Electric's slumping power division continues to drag down the company's profit, and GE is burning through cash. But investors know that by now.

Instead, they're hoping GE (GE) can continue to demonstrate progress in its turnaround when the company reports earnings before US markets open.

Despite tumbling earnings, GE has stood by its 2019 guidance for industrial free cash flow throughout the year. But it faces a new threat: the Boeing 737 Max crisis.

Boeing said last week it is preparing for a 737 Max production shutdown in case it does not receive approval to fly the grounded plane again this year. That would serve as a setback for GE, which makes jet engines for the 737 Max.

Want more markets? Watch CNN's "Markets Now" digital live show Wednesday at 12:45 p.m. ET.

4. Global markets: US stock futures point higher ahead of news from the Fed.

The Dow is set to rise about 70 points, or 0.3%, when US markets open. The S&P 500 is poised to increase 0.2%, while the Nasdaq is tracking up 0.4%.

European markets, meanwhile, are more of a mix. Britain's FTSE 100 fell 0.3% in early trading, while Germany's DAX gained 0.1%.

Airbus (EADSF) reported stronger-than-expected earnings for the three months ending in June, but noted that it could face delivery challenges in the second half of the year.

Stocks in Asia fell on concerns about trade as negotiations between Washington and Beijing continue. Hong Kong's Hang Seng dropped 1.3% and Japan's Nikkei shed 0.9%.

Before the Bell newsletter: Key market news. In your inbox. Subscribe now!

5. Coming this week:
Wednesday — Fed rate decision; GE, Occidental Petroleum, Molson Coors, and Qualcomm earnings
Thursday — Bank of England rate decision; General Motors, Dunkin', Kraft Heinz and Verizon earnings
Friday — US jobs report; Exxon, Chevron and Berkshire Hathaway earnings

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https://www.cnn.com/2019/07/31/investing/premarket-stocks-trading/index.html

2019-07-31 11:17:00Z
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Apple evolves beyond iPhone - Business Insider

Tim CookGetty

Apple has finally delivered concrete, positive proof that it has a life beyond the iPhone.
The iPhone represented less than half of Apple's total revenue for its third quarter, for the first time since 2012.
That's down to new hardware like the Apple Watch, as well as growth in Apple's software business including the App Store and Apple Pay.
These are ancillary services to the iPhone, so Apple hasn't moved away from its most popular bit of hardware just yet.
But still, it's a massive change.
Visit Business Insider's homepage for more stories.

Apple has undergone a major shift.

For the first time since 2012, the iPhone accounted for less than half the firm's overall revenue, for its fiscal third quarter.

It's not far off, at 48%. But that number will continue to fall.

Further good news: Apple's overall revenue was up for the quarter. In other words, Apple is capable of making money from things that aren't the iPhone faster than iPhone sales are falling.

That is a major milestone for the company.

Here's how that revenue breaks down by product category:

Shona Ghosh/Business Insider

The two key bits of good news are that Apple's "Services" and its wearables categories are both growing. And they're now bigger than the Mac and iPad units.

Apple doesn't get any more granular about its wearables sales, but CEO Tim Cook called out Apple Watch and AirPods as big sellers. Three-quarters of those buying an Apple Watch during the June quarter were first-time buyers, he said, and the wearables business is now as big as a Fortune 200 company.

Services revenue includes money coming from software like the App Store, streaming service Apple Music, insurance policy Apple Care, Apple Pay, and Apple's search ad business for the App Store.

Cook said the services business would likely double to $50 billion next year from where it was in 2016. Apple also boasts 420 million paid subscriptions across its various services, and is optimistic about hitting half a billion by 2020. Cook teased new services to come, and said these would drive new subscribers too.

All in all, these shows a company in the full swing of developing an ecosystem that goes beyond the iPhone. The other two $1 trillion titans of the moment, Microsoft and Amazon, pulled off something similar. Microsoft stopped relying on Windows as its revenue gorilla, making bets on the cloud and opening up its popular Office apps to other platforms. (Via, it has to be said, some terrible calls like buying Nokia and launching Windows Phone.)

Amazon, meanwhile, made a very early call to sell its hardware cheap and bring in revenue from areas like Prime, e-books, Audible, and other subscription services.

For this to work in the long term, Apple needs to make a serious effort to reach Android users

Apple Airpods AirPods are still targeted at people who own iPhones.Hollis Johnson/Business Insider

There is some bad news, which is that all of Apple's emerging strong revenue categories are still ancillary to the iPhone.

Most Apple Music users are also iPhone owners. Anyone using Apple Pay, Apple Care, and the App Store will need to own Apple hardware of some kind. Even hardware like the Apple Watch and AirPods are tethered to the iPhone.

So if Apple wants these categories to keep growing and even supersede the iPhone in terms of revenue, it still needs to keep selling iPhones or make a serious effort to reach Android users.

Cook didn't have much to offer when asked by an analyst whether Apple will come up with services that don't rely so much on the iPhone.

"We have other products where people are purchasing things," Cook responded. "They're watching Apple TV. We offer Apple Music on Android, and so there's a series of things that are outside of that. And so we'll see what we do in the future."

It's possible the number of non-iPhone users paying for Apple services will grow, especially if Apple's TV streaming service, Apple TV+, is a hit. But as yet, the firm has not made a serious effort to reach the people who don't already use its devices.

That's not the only path to better services and wearables growth, however.

Even as sales of new iPhones fall, there are clearly a bunch of people buying refurbished and second-hand iPhones. This is why Apple's "installed base", the number of people using iPhones, is growing even as iPhone sales decline. CFO Luca Maestri also talked up Apple's trade-in programme, which gives people discounts for trading in their old iPhones.

Apple will likely still need to push people to newer iPhones so they can access and pay for newer services but, per the introduction of trade-ins, it's approaching the issue in a more innovative way than hoping people will cough up $1,000 every three years.

Analysts at Citi were optimistic in a note to investors this morning: "Read this slowly and ponder it: Apple's wearable, home, & accessory category is larger than iPad sales. This underscores a new theme that is starting to emerge from Apple, which we believe investors are overlooking and that is the diversity of Apple's offerings. The bulls are overly focused on Apple's services and the bears are overly focused on iPhone sales, units & ASP [average selling price]. While we do not discredit either of those views, we believe most are not realizing the diversity of Apple's offerings."

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https://www.businessinsider.com/apple-evolves-beyond-iphone-2019-7

2019-07-31 11:03:13Z
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BA strike: holiday disruption looms after airline fails to halt action - The Times

new

Graeme Paton, Transport Correspondent

BA’s pilots could refuse to fly from August 15Alamy

British Airways passengers are facing travel chaos at the height of the summer holidays after a legal bid to halt a hugely damaging pilots’ strike was rejected.

The Court of Appeal today threw out BA’s application for an injunction intended to block a proposed walkout.

Three senior judges ruled that the strike by members of British Airline Pilots’ Association (Balpa) could go ahead after confirming that its ballot for action was legally sound.

It means that the walkout by as many as 4,000 BA pilots could go ahead in a little over two weeks.

Balpa said that it would not announce the date of any strike today although it only has to give a fortnight’s formal notice of industrial action. Pilots could refuse to fly…

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https://www.thetimes.co.uk/article/ba-strike-holiday-disruption-looms-after-airline-fails-to-halt-action-f6j3ngs5q

2019-07-31 11:00:00Z
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