BlackRock is opening a Saudi investment firm with initial $5 billion from PIF
The new platform will be called BlackRock Riyadh Investment Management, or BRIM.
Private payrolls increased by 192,000 in April, more than expected for resilient labor market
Private payrolls increased at a faster than expected pace in April, indicating there are still plenty of tailwinds for the U.S. labor market.
Here’s everything to expect when the Fed wraps up its meeting Wednesday
Markets are anticipating a near-zero chance that the policy-setting arm of the central bank will announce any change to interest rates.
McDonald’s and other big brands warn that low-income consumers are starting to crack
Higher prices have weighed on customers in an array of industries that interact with consumers.
Worker pay rose more than expected in Q1 in another sign of persistent inflation
The employment cost index, which measures worker salaries and benefits, gained 1.2% in the first quarter.
Euro zone inflation steady at 2.4%, keeping June rate cut in play as economy returns to growth
Price rises in the 20-nation euro area held steady at 2.4% in April, while the economy returned to growth in the first quarter.
IMF chief warns of emerging market risk with high U.S. interest rates
The benchmark rates of most advanced economies soared in recent years, as central banks aimed to tame inflation following the Covid-19 pandemic.
Saudi Arabia says all NEOM megaprojects will go ahead as planned despite reports of scaling back
"For NEOM, the projects, the intended scale is continuing as planned. There is no change in scale," Saudi Economy Minister Faisal Al Ibrahim told CNBC.
WEF president: ‘We haven’t seen this kind of debt since the Napoleonic Wars’
Borge Brende, president of the World Economic Forum, gave a stark outlook for the global economy.