Facebook Vice President David Marcus is the face of the company's Libra digital currency, but the original driving force was a 26-year-old female engineer named Morgan Beller.Technologyread more
After a year of flooding, Midwest farmers face a stifling heat wave that's spreading across the U.S.Agricultureread more
There is no end in sight to the Boeing 737 Max grounding after two fatal crashes, prompting airlines to rethink their growth plans.Airlinesread more
A quarter of the S&P 500 companies report earnings next week, and that could buffet the market as investors await the July Fed meeting.Market Insiderread more
Moving lots of data to a public cloud over the internet can take months or years. CNBC got an inside look at how AWS transfers data to the cloud for its clients.Technologyread more
Iran's Revolutionary Guard claims a British tanker it still holds, Stena Impero, failed to follow international maritime rules.World Newsread more
The president also said he "offered to personally vouch" for Rocky's bail. Sweden, however, does not have a bail system.Politicsread more
CoinShares Chief Strategy Officer Meltem Demirors discusses Facebook's Libra project and its impact on the cryptocurrency market after testifying to the House Financial...Fast Moneyread more
Some 40% of Americans would struggle to come up with even $400 to pay for an emergency expense. Just how are so many Americans so short on cash? Blame debt.Personal Financeread more
Amazon hires Trump-allied lobbyist Jeff Miller as battle for Pentagon contract heats up.Politicsread more
In a series of tweets, the president addressed an unusual controversy stemming from a speech delivered Thursday by New York Fed President John Williams.Marketsread more
The Trump administration will not grant special permission to U.S. companies, including Exxon Mobil, to carry out oil and gas drilling in Russia while sanctions remain intact, according to a statement from Treasury Secretary Steve Mnuchin on Friday.
Shares of Exxon Mobil were marginally lower Friday.
Exxon tried to secure a waiver that would let it drill in parts of Russia currently blocked by U.S. sanctions, The Wall Street Journal reported this week. That ban was related to Moscow's 2014 annexation of Crimea and support for separatists in eastern Ukraine.
The push came about a month after former Exxon CEO Rex Tillerson became secretary of State.
The Treasury's decision on Friday came as the Trump administration changed its tone on Russia.
After long praising Russia's Vladimir Putin, U.S. President Donald Trump last week said U.S.-Russian relations are at an "all-time low." The United States launched a missile strike on an air base in Syria, a close Russian ally.
Exxon and Russian oil giant Rosneft entered a joint venture in 2012 to develop offshore reserves in the Arctic Kara Sea and the Black Sea, as well as onshore assets in Siberia. Those deals, which represent a big part of Exxon's potential future production growth, were halted by U.S. sanctions.
Exxon said in a filing after the sanctions were put in place that its "maximum before-tax exposure to loss from these joint ventures" totaled $1 billion through the end of 2015.
The U.S. energy giant is concerned that European competitors still operating in Russia will gain an advantage in the Black Sea, a source briefed on its waiver application told The Wall Street Journal this week. The company also faces a contractual deadline to make an oil discovery there by the end of the year, the paper reported.
Exxon said in a statement on Friday: "We understand the statement today by Secretary Mnuchin in consultation with President Trump. Our 2015 application for a license under the provisions outlined in the U.S. sanctions was made to enable our company to meet its contractual obligations under a joint venture agreement in Russia, where competitor companies are authorized to undertake such work under European sanctions."
The news of Exxon's effort to re-enter Russia drew swift criticism from both sides of the aisle.
Sen. John McCain, Republican chairman of the Senate Armed Services Committee, linked to the Journal story on Exxon's waiver application in a tweet and asked, "Are they crazy?"
In a statement to CNBC on Friday, Sen. Marco Rubio said, "While a waiver to allow business with prohibited Russian entities may be in Exxon-Mobil's interest, it would clearly not be in America's national security interest."
Sen. Ben Cardin, the ranking Democrat on the Senate Foreign Relations Committee, on Friday said the deals that Exxon sought "would put money in the pockets of Russian oligarchs and the Russian treasury, guaranteed to be used against America, our interests, and our allies."