Apple Inc. on July 4 experienced a widespread outage that affected its iCloud services and some retail store operations in North America for about three hours.
The incident underscored the vulnerability of digital payment platforms to technical troubles. Visa and Mastercard have each experienced serious outages within the last couple of years.
Jennifer Bailey, vice president of online store at Apple Inc., smiles after speaking during the Apple World Wide Developers Conference (WWDC) in San Francisco, California, U.S., on Monday, June 8, 2015. Apple Inc. kicked off its annual developers conference in San Francisco, where the company will unveil a revamped streaming-music service, improvements to its mobile software and tools to speed up smartwatch applications. Photographer: David Paul Morris/Bloomberg *** Local Caption *** Jennifer Bailey
David Paul Morris/Bloomberg
On Thursday, many customers were unable to sign in to their iCloud accounts or access related services, which Apple tracked on its system status page.
Twitter carried accounts of customers who were temporarily unable to check out at some Apple Stores during the midday outage, according to a Macrumors report. Apple did not return a request for comment.
Visa had a multinational processing outage in June 2018, and Mastercard suffered a serious outage in the U.K. about a year ago. Target had back-to-back payment system glitches one weekend last month, crippling its in-store checkout systems nationwide.
The Federal Reserve chair said there is 'room for improvement' in how the central bank conveys economic uncertainties to markets and the broader public.
The Trump administration has brought deregulation and staff cuts to the Consumer Financial Protection Bureau, leaving many wondering what's next. On Friday, a federal appeals court will hear arguments in the union's lawsuit to stop acting CFPB Director Russell Vought from dismantling the agency.
The Pennsylvania company spent the last five years adding lines of business, cleaning up its balance sheet and leveling up its technology. This year, Customers needs to churn out consistent earnings to prove that the investments were worth the costs.
The bank, which owns 48.5% of the Greek fintech, is battling with the company's owners over how to determine valuation, among other disputes. JPMorgan says it is reviewing aspects of the legal case but is still seeking a $1 billion claim in Greece.
Three executives at Space City Credit Union in Houston will get a total of $6.75 million if the cooperative's members approve a merger. The 12,000 or so members will split $5 million.