Time now for our daily Tech and Business Report. Today, KCBS Radio's Holly Quan was joined by Bloomberg's Ed Ludlow.

While many of us were sleeping, the largest IT outage in history took over the world. Thanks to a software update glitch, cyber-security firm CrowdStrike Holdings crashed Microsoft systems globally, impacting airlines, banks, media networks, and health-care systems. 

While many of the systems have been restored, the event underscores just how cyber-resilient companies are.