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Five million iPhones are about to be smuggled into China—right back where they started

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September 19th, 2014 | 2:18 AM

Russia sanctions force Exxon Mobil to hit pause on arctic oil drilling. Just days after new US and EU sanctions were declared, Exxon halted work on a project that aimed to extract an estimated 9 billion barrels of oil from beneath the Kara Sea, sources told Bloomberg. Exxon has eight more days to cease all arctic exploration work with Russia’s OAO Rosneft—a partnership that aimed to solve Exxon’s falling production rates and modernize Russia’s aging extraction operations.  

September 18th, 2014 | 10:50 PM
Chart of the Moment

Rich travelers prefer the aisle seat.

September 18th, 2014 | 4:10 PM

Larry Ellison steps down as Oracle’s CEO. The surprise shift is effectively immediately. Ellison, who founded the company, becomes executive chairman of the board and chief technology officer. Two Oracle executives—Safra Catz and Mark Hurd—will jointly fill his slot as CEO in an unorthodox arrangement.

September 18th, 2014 | 11:31 PM

Germans can get airplane food delivered to their homes for some reason. Air Food One offers subscribers a weekly meal delivery from Lufthansa’s food supplier—this week it’s “Arabic seafood” or panserotti with porcini mushrooms. The meals, which are from the business class menu, are priced at under 10 euros ($12.90).

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