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Analysts expected oil to surge above $200 but China has quietly kept prices half of that—and can’t for much longer

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Pentagon accuses Alibaba, Baidu and BYD, three of China's biggest companies, of supporting the Chinese military

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Marc Lore’s robots make 500 burrito bowls an hour. A human can make 45
Arts & EntertainmentWorld's Most Admired Companies

Amazon is working with Spike Lee for its first original movie

By
Benjamin Snyder
Benjamin Snyder
Managing Editor
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By
Benjamin Snyder
Benjamin Snyder
Managing Editor
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July 15, 2015, 4:49 PM ET
2013 Summer TCA Tour - Day 2
BEVERLY HILLS, CA - JULY 25: Director Spike Lee speaks onstage during the "Mike Tyson: Undisputed Truthts" panel discussion at the HBO portion of the 2013 Summer Television Critics Association tour - Day 2 at the Beverly Hilton Hotel on July 25, 2013 in Beverly Hills, California. (Photo by Frederick M. Brown/Getty Images)Photograph by Frederick M. Brown — Getty Images

Amazon (AMZN) announced Wednesday that it’ll be creating its first-ever original film.

It will be Spike Lee’s next major movie and has been dubbed Chi-Raq. According to Amazon’s press release, the film features an all-star cast, including Nick Cannon, Wesley Snipes, Jennifer Hudson, and Samuel L. Jackson.

“Chi-Raq will shed light on the serious, but often overlooked issue of violence in inner cityChicago,” Amazon said.

“Spike Lee is one of the most distinct and visionary filmmakers of our time,” said Ted Hope, who heads up Amazon’s motion picture production, in a statement. “It would be impossible to find a better filmmaker with whom to launch our studio.”

“I’m honored to be part of the film that will launch Amazon Studios and to tell a story that is so important,” said Spike Lee in a statement. “Please don’t be fooled by the title of Chi-Raq, this new Spike Lee joint will be something very special. We have assembled a stellar cast.”

Amazon first announced it’d be creating original films in January. The e-commerce giant said at the time that is has plans to produce 12 films a year.

The announcement coincides with Amazon’s first Prime Day in celebration of its 20th anniversary.

About the Author
By Benjamin SnyderManaging Editor
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Benjamin Snyder is Fortune's managing editor, leading operations for the newsroom.

Prior to rejoining Fortune, he was a managing editor at Business Insider and has worked as an editor for Bloomberg, LinkedIn and CNBC, covering leadership stories, sports business, careers and business news. He started his career as a breaking news reporter at Fortune in 2014.

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