Buybacks have gotten a bad rap from both Republicans and Democrats. But stocks would be trading at a massive discount without them.Marketsread more
Fiat Chrysler and France's Renault could soon partner up to take on the sweeping changes to the global auto industry, according to a report in the Financial Times. The...Autosread more
Microsoft shares have gained 133% since November 2015, outperforming a tech "basket of unicorns" over that stretch.Technologyread more
The president's state visit comes amid tensions with carmaker Toyota over potential auto tariffs. Trump has repeatedly threatened Japanese and European carmakers with tariffs.Traderead more
The IRS is about to release a new draft of Form W-4, which will more closely reflect the changes stemming from the Tax Cuts and Jobs Act. For workers, that means they'll need...Personal Financeread more
When commercial real estate investor Manny Khoshbin spent $2.2 million on the fastest production car in the world, he had no idea it would very quickly also become the...Autosread more
The Mega Millions jackpot has spilled over $400 million. It would be the ninth largest winning since the game began in 2002.Personal Financeread more
Trump was speaking at a meeting of Japanese business leaders in Tokyo during his state visit to Japan on Saturday.Marketsread more
The biggest U.S. gasoline price surge in years is running out of steam just in time for the start of the summer driving season.Energyread more
The federal minimum wage has remained $7.25 per hour since 2009. But several states, and even some companies, have since taken matters into their own hands to pay employees a...Workread more
Stocks rose on Friday, but notched weekly losses as investors worried the U.S.-China trade war is hurting economic growth.US Marketsread more
Debt-riddled Puerto Rico paid all of its $1.9 billion in obligations due on Wednesday, sources told CNBC.
With the payments, the island, for the moment, avoided sinking further into financial crisis. Puerto Rico Gov. Alejandro Garcia Padilla recently called its roughly $73 billion in debt "not payable," fueling concerns among investors and bond insurers.
The National Public Finance Guarantee Corporation—an indirect subsidiary of MBIA—separately confirmed Wednesday that the island's struggling power utility, Prepa, and other Puerto Rico-related institutions made their debt-service payments.
"As a result, there were no claims on any of National's insurance policies," it said in a statement.
National also noted it and other forbearing bond insurers would provide $128 million of short-term bridge financing to "strengthen Prepa's liquidity position while these vital negotiations continue." It said its Puerto Rico exposure decreased by about $250 million because of the payments.
"By honoring its legal obligations to bondholders, Prepa can return its full attention to addressing its operational and financial challenges," National added.
On Monday, Garcia Padilla called for restructuring and reforms, saying Puerto Rico seeks to reach a moratorium with bondholders and hold off on making some debt payments for "years." Puerto Rico's economic and fiscal situation has grown direr, and Garcia Padilla has repeatedly warned that the island may not generate enough income to meet its obligations.
Puerto Rico's government has attempted to cut costs amid the crisis. Garcia Padilla has said he would not consider cutting the minimum wage, among other potential cost-trimming measures.
This story is developing. Please check back for further updates.
for the latest on the markets.
—CNBC's Kate Kelly contributed to this report.