CNBC News

Four months ago, Amwaj Mohammed could have been arrested for driving in Saudi Arabia. Now, she earns money driving for Careem — thanks to a royal decree that allowed Saudi women to driver. Saudi Arabia in June became the last country to grant women driving rights, and it’s the only one to do so in the age of ride-hailing apps. Uber and Careem, in the latest example of their regional rivalry, spent hundreds of thousands…

Joe Horowitz is a venture capital traditionalist. He believes in best practices, business fundamentals and calculated bets. But as megafunds and hundred-million-dollar rounds balloon valuations and flood the space, the Icon Ventures managing general partner finds himself fighting money with money. “If we don’t adjust to the reality of the implications of what the megafunds mean for us, we’re at risk for our business,” Horowitz told CNBC in an interview. “To be relevant today ……

The S&P 500 is having its worst month in nearly three years. But the worst may be yet to come for the stock market, according to Jim Paulsen, chief investment strategist at Leuthold Group. “My guess is that we’re going to have a bigger correction than we’ve had yet,” said Paulsen on CNBC’s “Trading Nation” on Friday. “I think a good gut check to sentiment, like a 15 percent correction, might be just the ticket…

At first, it seems odd that Boeing’s first 787 Dreamliner test plane is the main attraction inside an exhibition center that opened this month at the airport in Nagoya, Japan. It may seem even odder that all the retail and dining venues in the hall have a theme … from Seattle. But it makes sense when you consider that Nagoya-area aerospace manufacturers build 35 percent of the parts for each 787 aircraft — including wings…

Sherri Franklin was running a successful San Francisco hair salon when she realized something: Work just wasn’t as satisfying as it used to be. What was rewarding, though, was volunteering at the local animal shelter. “I just go mad for the dogs,” she says, particularly the old ones with gray or white faces. “Normal people have a reaction to puppies,” she says. “Old dogs are my calling.” She spent hours walking an old basset-beagle mix…

Although investing is one of the smartest ways to grow your wealth, it’s not the only way. A lucky few become instant multimillionaires thanks to the lottery. If you want to take a chance on joining them, Tueday’s Mega Millions jackpot is now $1.6 billion, the highest jackpot ever. Lottery winners can choose to receive the money in either an annuity — annual allotments over 30 years — or to get it all at once…

Netflix released the third season of “Daredevil” on Friday, which stars Charlie Cox as the title character and perhaps the most popular “Defender” in an era of Marvel crossover television shows. “Daredevil” is the latest big original launch from Netflix, which is spending billions this year on original productions. But last week the streaming video company started spending in a new way that further reflects its ambitions to match Hollywood studio-level production. Netflix announced the…

After no one hit all winning numbers in Friday night’s Mega Millions drawing, the jackpot has surged to a staggering $1.6 billion — the largest prize in U.S. lottery history. And at some point, someone will get really lucky. As in really, really lucky. Your chance of winning the Mega Millions jackpot is pretty dismal: 1 in 302.6 million. Prior to last October, when changes were made to the game, it was 1 in 258.9…

Swiss bank UBS Group AG has asked its China wealth management staff to reconsider their travel plans to the country after authorities there asked one of its bankers to delay her departure from Beijing to meet with local officials, a person familiar with the matter said. The banker, who is based in Singapore and works in the relationship management team in UBS’s wealth management unit, still has her passport, but was asked to remain in…

The United States is considering a new operation to send warships through the Taiwan Strait, U.S. officials tell Reuters, a mission aimed at ensuring free passage through the strategic waterway but which risks heightening tensions with China. The U.S. Navy conducted a similar mission in the strait’s international waters in July and any repeat would be seen in self-ruled Taiwan as a fresh expression of support by President Donald Trump’s government. The U.S. military declined…