Fortune Daily—GM’s CEO faces hard questions, FedEx delivers strong results, Amazon launches a smartphone, how not to channel Apple's Steve Jobs.

THE FORTUNE DAILY Wednesday, June 18

GM's CEO Mary Barra returns to D.C. to face more questions Automaker's leader back on Hill to testify over ignition-switch issue linked to 13 deaths.

FedEx delivers strong earnings, rebounding from harsh winter Package deliverer's fiscal fourth-quarter profit more than doubled from a year ago amid volume rise.

GE continues to woo French officials in bid for Alstom unit U.S. conglomerate looking to sway France in its bid for Alstom's energy units against German rival Siemens.

Crude prices edge up as jihadists overrun most of key refinery Extremist threat to Iraqi capital rises, while Iran president vows to send forces to defend Shia shrines

By Philip Elmer-DeWitt Apple hits Amazon with a well-timed zinger "Apple Is Happy to Sell You the Hachette Books Amazon Won't Stock."

By Jennifer Reingold How not to channel Steve Jobs Former J.C. Penney CEO Ron Johnson emulated the "reality distortion field" famously employed by the late Apple CEO—and it's still hurting the department store chain more than a year later.

By JP Mangalindan All signs point to a new Amazon smartphone What you should expect from the Seattle tech giant's product unveiling today.

WATCH: Will Janet Yellen raise interest rates?

Is Slingshot the new Snapchat? Facebook hopes so

WATCH: Did AT&T already bag the Amazon phone?

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