Jul 21, 2017

07/21/2017: Yep, Amazon is launching a social network

LEON NEAL/AFP/Getty Images

The U.S. Treasury has just slapped ExxonMobil with a $2 million fine for violating business sanctions against Russia. We'll take a look at how the controversy began and how Secretary of State Rex Tillerson (the former CEO of ExxonMobil) has responded. Afterwards, we'll discuss the challenges that General Electric's incoming CEO John Flannery may face, and then talk about Amazon's new social network: Spark.

Segments From this episode

In Congress, a move to save an earthquake early warning system from budget cuts

by Jed Kim

Jul 21, 2017

Efforts to build a warning system have been going on for years. Now they face possible demise.

A screen shows the countdown to a simulated 7.8 magnitude earthquake during a drill for first responders at the Office of Emergency Management in Los Angeles in 2013.

FREDERIC J. BROWN/AFP/Getty Images

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GE’s latest earnings are a last-chance showing for its CEO

by Amy Scott

Jul 21, 2017

General Electric is expected to report its second quarter earnings before the markets open today . It’ll be longtime CEO Jeffrey Immelt’s last chance to seal his legacy at the company before stepping down at the end of the month. GE’s stock has earned the distinction of being the worst performer in the Dow Jones […]

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Sears is hoping Amazon deal will turn around its fortunes

by Dan Gorenstein

Jul 21, 2017

Sears has inked a deal with Amazon that it hopes will boost its flagging sales. Amazon will begin selling appliances by Kenmore — one of Sears’ flagship brands. But there could also be a downside for the struggling department store chain. Click the audio player above to hear the full story.

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Amazon's new social media network wants you to start making impulse purchases

by David Brancaccio

Jul 21, 2017

Its quest for world domination continues.

A worker pushes a cart through shelves lined with goods at an Amazon warehouse in Germany.

Sean Gallup/Getty Images

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Mid-day Update

07/21/2017: When the company that used to be run by the Secretary of State sues the Secretary of the Treasury...

by David Brancaccio

Jul 21, 2017

The Treasury Department has fined ExxonMobil $2 million for violating economic sanctions against Russia while Secretary of State Rex Tillerson was running the company. On today's show, the BBC's Jonathan Frewin joined us to break down the controversy. Afterwards, we'll discuss Sears' new business relationship with Amazon, and then look at a possible cut in federal funding to an early earthquake-warning system.

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The U.S. Treasury has just slapped ExxonMobil with a $2 million fine for violating business sanctions against Russia. We’ll take a look at how the controversy began and how Secretary of State Rex Tillerson (the former CEO of ExxonMobil) has responded. Afterwards, we’ll discuss the challenges that General Electric’s incoming CEO John Flannery may face, and then talk about Amazon’s new social network: Spark.

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