CNBC Economy

The new platform will be called BlackRock Riyadh Investment Management, or BRIM.

Markets are anticipating a near-zero chance that the policy-setting arm of the central bank will announce any change to interest rates.

Private payrolls increased at a faster than expected pace in April, indicating there are still plenty of tailwinds for the U.S. labor market.

"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.

Higher prices have weighed on customers in an array of industries that interact with consumers.

The employment cost index, which measures worker salaries and benefits, gained 1.2% in the first quarter.

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.

The benchmark rates of most advanced economies soared in recent years, as central banks aimed to tame inflation following the Covid-19 pandemic.

Borge Brende, president of the World Economic Forum, gave a stark outlook for the global economy.

The last batch of inflation news that Federal Reserve officials will see before their meeting next week is in, and none of it is very good.

The core personal consumption expenditures price index was expected to increase 2.7% from a year ago in March, according to the Dow Jones consensus estimate.

Real GDP was expected to increase 2.4% in the first quarter on a seasonally adjusted basis, according to economists surveyed by Dow Jones.

It's a tough case to sell that higher interest rates today are having a substantially negative impact on the course of the economy.

For five of the past six weeks, the level of initial jobless filings totaled exactly 212,000.

Economists polled by Reuters expected a reading of 3.1%, down from 3.4% in February.

The Washington DC-based institute this week nudged its global growth outlook slightly higher to 3.2% in 2024.

High corporate valuations could pose a significant risk to financial stability as market optimism becomes untethered from fundamentals, the IMF said Tuesday.

Altaf Kassam told CNBC that classic monetary policy mechanisms had "broken."

The IMF on Tuesday raised its global growth forecast slightly, saying the economy had proven "surprisingly resilient" despite inflationary pressures.

Retail sales increased 0.7% for the month, considerably faster than the Dow Jones consensus forecast for a 0.3% increase.