Buybacks have gotten a bad rap from both Republicans and Democrats. But stocks would be trading at a massive discount without them.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
Stocks rose on Friday, but notched weekly losses as investors worried the U.S.-China trade war is hurting economic growth.US Marketsread more
The combination of mounting recession fears, bets on a more cautious Fed and a regular uptick in market volatility could spell more losses.Marketsread more
The therapy, Zolgensma, is a one-time treatment for spinal muscular atrophy — a muscle-wasting disease and leading genetic cause of infant mortality, affecting 1 in every...Biotech and Pharmaceuticalsread more
SpaceX has raised just over $1 billion in financing since the beginning of the year.Investing in Spaceread more
An analyst for Ark Invest, which has a major investment in Tesla, says recent drastic price-target cuts by others on Wall Street are missing the big picture.Investingread more
A federal judge in California has blocked President Donald Trump from building sections of his long-sought border wall with money secured under his declaration of a national...Politicsread more
Former Foreign Minister Boris Johnson is seen as the bookmaker's favorite to succeed outgoing Prime Minister Theresa May.Europe Politicsread more
The race is underway to find a vaccine that can control African swine fever, a highly contagious and deadly viral infection ravaging China's hog population. There is currently...Agricultureread more
A former New York hedge fund manager has been charged along with a prominent union official in a case involving alleged kickbacks and a pension fund, according to reports.
Murray Huberfeld faces charges for events that allegedly took place while he was affiliated with Platinum Partners, a $1.3 billion firm known for risky investment strategies that often paid off handsomely.
Federal officials charged Huberfeld and Norman Seabrook, president of the New York's Correction Officers' Benevolent Association, in the case. They allege that Seabrook took kickbacks from Huberfeld's Platinum Partners in exchange for directing some $20 million in wire transfers from the union's pension fund to the firm.
Both were charged with honest services wire fraud, according to the New York Daily News, which cited sources and court papers. The union is the largest municipal jail union in the United States, according to the News.
Huberfeld no longer helps run Platinum, according to a Reuters profile of the firm in April that detailed the firm's risky strategies.
Neither Huberfeld, Seabrook nor representatives at Platinum Partners responded to requests from CNBC.com for comment.
Read the full Daily News report on the charges here.