Saudi Arabia has shut down half of its oil production after drones attacked the world's largest oil processing facility in the kingdom.Marketsread more
Yemen's Houthi rebels have claimed responsibility for the attacks, which created a huge fire at a processor essential to global energy supplies.Politicsread more
Oil prices are expected to jump as much as $10 per barrel after a coordinated drone strike hit Saudi Arabia's largest oil field, forcing the kingdom to cut its oil output in...Marketsread 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
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
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
Trailers have become a cult phenomenon. Even short teasers that reveal little about the plot of the upcoming film are headline-worthy. Blogs and forums have become devoted...Entertainmentread more
Thanks to the performance of Beyond Meat, investors who focus on venture-backed tech IPOs have done well this year despite some notable disappointments.Technologyread more
Software company Intuit, maker of tax helper TurboTax, is in its eleventh year of stock gains and up 36% this year.Investingread more
CNBC did a deep dive through the most recent Wall Street research to find stocks with upside potential.Marketsread more
Despite all the hype and excitement around CBD, regulators still don't know how safe the cannabis compound is for human use, acting Food and Drug Administration Commissioner Ned Sharpless said Friday as the agency kicked off its first public hearing on the industry.
"There are real risks associated with [THC and CBD] and critical questions remain about the safety of their widespread use in foods and dietary supplements, as well as other consumer products — including cosmetics, which are subject to a separate regulatory framework," Sharpless said, according to a transcript of his prepared remarks.
"And given the new interest in marketing cannabis products across the range of areas FDA regulates, we will need to carefully evaluate how all these pieces fit together in terms of how consumers might access cannabis products," Sharpless said. "Nowhere is this truer than with CBD. While we have seen an explosion of interest in products containing CBD, there is still much that we don't know."
Sharpless kicked off the FDA's public hearing on CBD, a widely anticipated meeting that's intended to help the agency figure out how to regulate products that add it. He said more than 500 people registered to attend the meeting in-person at FDA's headquarters outside Washington, and more than 800 people registered to join remotely. The FDA has about 140 speakers lined up to testify.
Congress in December legalized CBD, or cannabidiol, derived from hemp. The nonintoxicating cannabis compound is being added to just about everything, including makeup, tea, pet treats and soft drinks — even though there's little data to support the many claims of its benefits.
"When hemp was removed as a controlled substance, this lack of research, and therefore evidence, to support CBD's broader use in FDA-regulated products, including in foods and dietary supplements, has resulted in unique complexities for its regulation, including many unanswered questions related to its safety," Sharpless said.
Even though CBD is cropping up in a slew of products, the FDA's rules prohibit companies from adding the compound to any food or dietary supplements because it's an active ingredient in a drug product. Sharpless said the FDA generally prohibits putting drugs into the food supply for "important reasons," like that when approving prescription drugs it carefully evaluates specific formulations, dosages and strengths for a particular population.
"Although the law says that FDA can issue regulations to create new exceptions to these statutory provisions, FDA has never issued a regulation like that for any substance," Sharpless said. "So, if we were thinking about doing that for a substance like CBD, it would be new terrain for the FDA."
Drafting and implementing a regulation could take years. Friday's hearing is simply a listening session for regulators. The agency is taking public comments through July 2.