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 corporate-development...Technologyread more
Amazon's new policy for account suspensions doesn't go far enough to protect sellers from potentially unfair and wrongful suspensions, merchants say.Technologyread 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
After a year of flooding, Midwest farmers face a stifling heat wave that's spreading across the U.S.Agricultureread 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
"It troubles me that the most important political office in the world is becoming the face of racism and exclusion," Kaeser said in a Twitter post.Politicsread more
Silver's rally could be losing its shine after the precious metal reached its year-to-date high, futures experts warn.Futures Nowread 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
Exxon Mobil will exit some joint ventures with Russia's Rosneft, citing Western sanctions first imposed in 2014, while the Russian company said the pullout will result in serious losses for its U.S. partner.
The move is an about-face for Exxon, which had opposed the sanctions over Russia's invasion of Crimea and argued they unfairly penalized U.S. companies while allowing foreign energy rivals to operate in the country, the world's largest oil producer.
Yet the sanctions were effective in slowing work on a project by Exxon and Rosneft on what was hailed as a major discovery in the Kara Sea above the Arctic Circle.
Rosneft, Russia's largest oil company, said last year that it planned to return to operations at the project in 2019.
Exxon's exit from projects will not affect the Sakhalin project off the eastern coast of Russia, Exxon and Rosneft spokesmen said.
Sakhalin-1 operates under a Production Sharing Agreement struck in the mid-1990s and currently produces around 200,000 barrels of oil per day.
Representatives for the U.S. Department of State and Treasury Department did not have an immediate comment. The joint ventures were reached when U.S. Secretary of State Rex Tillerson was Exxon's chief executive.
A Rosneft's spokesman said ExxonMobil would incur serious losses because of the decision.
Rosneft spokesman Mikhail Leontyev said Exxon had been forced to take what he called a predictable decision, but confirmed the move would not affect the Sakhalin-1 joint venture.
"It (Exxon) will suffer serious losses as a result of this (decision)," said Leontyev.
Exxon said it will formally start the process of withdrawing from the joint ventures this year.
In 2012, Exxon and Rosneft detailed an exploration partnership with plans to invest as much as $500 billion in developing Russia's Arctic and Black Sea oil reserves. Further deals were signed in 2014.
Exxon said in a financial filing on Wednesday that it recorded a fourth-quarter after-tax loss of $200 million due to the withdrawal plan.
The United States and the European Union imposed economic sanctions on Russia over its annexation of Crimea in 2014 and its role in eastern Ukraine conflicts.
The U.S. government also imposed sanctions on Rosneft Chief Executive Igor Sechin that year.
The sanctions prohibit U.S. citizens or people in the United States from dealing with those on the blacklist, such as Sechin. Rosneft itself is subject to narrower U.S. sanctions that still allow Americans to deal with the company on some transactions.
The U.S. government fined Exxon $2 million for signing the joint ventures just after sanctions were imposed in 2014, saying the company showed a "reckless disregard" for the sanctions. Exxon called the fine "capricious" and appealed it.
Still, Exxon wound down drilling in Russia's Arctic in 2014 after the sanctions were imposed. Exxon was allowed to finish some drilling projects as the sanctions took effect.