The trucking industry is worth hundreds of billions of dollars per year. Uber is going after this market with Uber Freight, an online platform that matches truckers with...Technologyread more
Drone strikes attacked an oil processing facility at Abqaiq and the nearby Khurais oil field on Saturday.Marketsread more
Trump said oil would be released if needed to keep the market well supplied and he would expedite the approval of pipelines in Texas and other states.Marketsread more
Saudi Aramco is aiming to restore by Monday about a third of its crude output that was disrupted after drone attacks on two key oil facilities, The Wall Street Journal...Marketsread more
Apple's new iPhones can still send texts, download apps, and make video calls, but the company spends a lot of time and effort marketing its new phones as powerful photography...Technologyread more
Some U.S. manufacturers say tariffs, if targeted, will help address longstanding unfair trade practices like intellectual property theft.Traderead more
Supporters of a $15 minimum wage ballot initiative in Florida argue the state's inflation-tied pay hikes have not gone far enough.2020 Electionsread more
Saudi Arabia shut down half its oil production Saturday after drone strikes hit the world's largest oil processing facility in an attack claimed by Yemen's Houthi rebels.Politicsread more
Trusii's hydrogen water machines were supposed to help users with their health problems, but customers claim the company is involved in a giant scam.Technologyread more
The decoupling of the world's two weightiest economies seems as inescapable as its extent and global impact remains incalculable.Politicsread more
BlackBerry has reinvented itself to become a leader in securing mobile communications and in embedded communications. Next year it plans to roll out new products. CEO John...Evolveread more
Legalized marijuana is emerging as a huge growth sector in the U.S. economy, a former Drug Enforcement Administration agent turned venture capitalist told CNBC on Thursday.
"Regulated cannabis works," said Patrick Moen, managing director and general counsel at Seattle-based Privateer Holdings, which specializing in seed money for businesses that "lead, legitimize, and define the future of cannabis."
Explaining how an ex-DEA agent ended up in the pot business, Moen said on "Squawk Alley" in an interview: "We're taking money away from criminal enterprises. We're freeing up law enforcement resources. We're generating tax revenue and we're creating jobs. It's good policy."
The buzz around marijuana includes a handful of states that have made marijuana legal for recreational use for adults and for medical reasons including California, Colorado, Massachusetts, Maine, Nevada, Oregon, and Washington state, according to the Marijuana Policy Project.
In addition, a growing number of Americans, 58 percent, according to a new Quinnipiac University poll, favor legalized marijuana sales. That number jumps to 79 percent among adults aged 18 to 34.
But Attorney General Jeff Session is certainly not one of them.
Last week, the Trump administration rescinded an Obama-era policy that kept federal authorities from cracking down on the pot trade in states where the drug is legal.
Sessions said the U.S. government will now leave it up to federal prosecutors to decide what to do when state rules collide with federal drug law, which prohibits pot.
While running for office, President Donald Trump said marijuana policy should be left up to the states.
Moen, who joined Privateer in 2013, said the Sessions move is nothing to worry about. "It's clearly out of touch with what the American people want," he contended, predicting that potential pot investors will unlikely be deterred either.
"We might see a short-term chilling effect on investment and banking," Moen said, as retailers learn how to manage regulations around cannabis. "[But] we're seeing steady and continued growth in terms of access to capital," he said.
— The Associated Press contributed to this report.