Apple Inc. sales in the fourth quarter of 2018 fell well below expectations in a downturn CEO Tim Cook blamed on China. In a letter released to shareholders Wednesday, Cook said demand for iPhones was waning. Other global companies like Tiffany & Co. and the Ford Motor Company also saw declines in Chinese sales.

The Federal Reserve announced Wednesday it is raising the target range for its key interest rate from 2.25 percent to 2.5 percent, its highest level since 2008, to reflect the economy’s growing strength. Chairman Jerome Powell also said the Fed anticipates increasing rates only twice more in 2019 instead of the three times as it previously forecast. It’s good news for those with savings and money market accounts. But those with plans to borrow money or have variable rate debt, such as adjustable rate mortgages and home equity lines of credit, will probably have to pay more.

Marriott on Friday announced a massive data breach that compromised the information of as many as 500 million guests at its Starwood hotels. The company said that it discovered unauthorized access within its Starwood reservation network, which includes Sheraton, Westin, and other hotel brands, has been occurring since 2014. Some guests’ credit card numbers and expiration dates could have been taken, according to the company.

The Christmas shopping season officially kicks off with Black Friday, but early bird shoppers in stores that opened Thursday evening have already snatched up some of the season’s most popular items. BlackFriday.com reported that Target had sold out of the Nintendo Switch, Apple Watch, PlayStation 4, and Instant Pot pressure cooker by Friday morning. Walmart also ran out of the PlayStation 4 and Instant Pot on Thursday.

Tesla stocks slid on Friday after government securities regulators asked on Thursday for the removal of Elon Musk as CEO of the electric car company. The Securities and Exchange Commission asked the U.S. District Court in Manhattan to bar Musk from serving as an officer or director of a public company. The complaint says that Musk’s claim on Twitter in August that funding was secured for Tesla Inc. to go private at $420 a share was false and amounted to securities fraud. Musk and the company’s board later said they decided not to go private after all.

Apple showcased three new iPhones Wednesday, including the new iPhone XS Max, with the largest phone display the tech company has ever manufactured. The Max has an 6.5-inch edge-to-edge screen and will sell for $1,100, $100 more than last year’s iPhone X. The iPhone XS, an update to last year’s model, will stay at $1,000, and a new iPhone XR, made with cheaper materials in an effort to reach customers who don’t want to pay the higher price tag, will sell for about $750. The XS models come out Sept. 21, while the XR is due out on Oct. 26.

The NBA and WNBA will now share official data with MGM Resorts International, officials announced Tuesday, becoming the first major U.S. professional sports leagues to cut a deal with a casino. The agreement positions the leagues to cash in on the anticipated growth of sports betting across the country, but also crosses the decades-old line between pro sports and the gambling industry.