Big Business
Associated Press/Photo by LM Otero, File

UPDATE: Exxon Mobil filed suit against the U.S. government Thursday over a $2 million fine it calls unfair.” The company said its subsidiaries signed deals with Russian oil giant Rosneft only after Treasury Department representatives said U.S. sanctions barred them from direct dealings with Rosneft chairman Igor Sechin, not companies he controlled.

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Associated Press/Photo by Seth Wenig

CEO resigns as Uber tries to overhaul image

by Lynde Langdon
Posted 6/21/17, 11:38 am

Uber’s fiery CEO resigned today under pressure from investors who said his tactics hurt the company. Allegations of sexual harassment, trade secrets theft, and ethical breaches have damaged the ride-sharing company’s reputation in the past year. Uber’s board said in a statement that CEO Travis Kalanick’s departure would give the company “room to fully embrace this new chapter in Uber’s history.” On Tuesday, Uber started a 180-day program to change its image by allowing riders to tip drivers through its app.

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Associated Press/Photo by Sue Ogrocki

Amazon rings up big changes in the food business

by Nick Eicher
Posted 6/19/17, 11:44 am

Amazon announced late last week it would spend $13.7 billion to buy upscale grocer Whole Foods, almost 20 percent more than the company is worth right now. Two factors made Whole Foods ripe for purchase: First, it’s been suffering from falling sales. Second, an activist Whole Foods shareholder has been pressuring the board to sell. The move could create a sea-change in the way Americans buy groceries. Prodded by Amazon, a great deal of purchasing has migrated online.

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