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
OxyContin maker Purdue Pharma has reached an agreement with the Oklahoma attorney general's office to settle a lawsuit that accused it of helping ignite the nationwide opioid crisis, a person familiar with the situation told CNBC.
The details of the settlement are expected to be released Tuesday afternoon. The Wall Street Journal reported the agreement totaled $270 million.
Purdue and other manufacturers faced a trial in May in a case brought by Oklahoma Attorney General Mike Hunter. Accusations against the Stamford, Connecticut-based company include downplaying the addiction risk of opioids while overstating the benefits.
The company has denied wrongdoing. It says labels for its painkiller carried warnings about the risk of abuse and misuse associated with the drugs.
A spokesperson for Hunter's office declined to comment. Purdue Pharma did not immediately respond to a request for comment.
OxyContin is a prescription drug used to treat moderate to severe pain in adults. From 1999 to 2017, nearly 218,000 people have died in the United States from overdoses related to prescription opioids, according to the Centers for Disease Control and Prevention. OxyContin came on the market in 1996.
Purdue was founded in the 1950s by brothers Arthur, Mortimer and Raymond Sackler.
Earlier this month, Purdue's CEO Craig Landau said the company was considering bankruptcy to protect its assets against thousands of lawsuits for its alleged role in the opioid epidemic.
This is a developing story. Please check back for updates.