The BlackRock logo is displayed at the company's headquarters in New York City on Nov. 14, 2022.Leonardo Munoz | Getty ImagesAsset manager BlackRock will launch an investment platform in Riyadh with the help of a $5 billion anchor investment from Saudi Arabia's Public Investment Fund, the kingdom's sovereign wealth fund.The...
Category: Economy
Here’s everything to expect when the Fed wraps up its meeting Wednesday
Federal Reserve Chairman Jerome Powell prepares to testify before the Senate Banking, Housing and Urban Affairs Committee on March, 7 2024. Kent Nishimura | Getty Images News | Getty ImagesFaced with stubborn inflation that has raised concerns about where policy is headed, the Federal Reserve has been ensnared in a holding...
Saudi Arabia says all NEOM megaprojects will go ahead as planned despite reports of scaling back
Saudi Arabia's economy minister rejected recent reports that the kingdom's $1.5 trillion NEOM megaproject, a futuristic desert development on the Red Sea coast, is scaling back some of its plans."All projects are moving full steam ahead," Faisal Al Ibrahim told CNBC's Dan Murphy on Monday at the World Economic Forum's...
All the data so far is showing inflation isn’t going away, and is making things tough on the Fed
A customer shops for food at a grocery store on March 12, 2024 in San Rafael, California.Justin Sullivan | Getty Images News | Getty ImagesThe last batch of inflation news that Federal Reserve officials will see before their policy meeting next week is in, and none of it is very...
GDP growth slowed to a 1.6% rate in the first quarter, well below expectations
U.S. economic growth was much weaker than expected to start the year, and prices rose at a faster pace, the Commerce Department reported Thursday.Gross domestic product, a broad measure of goods and services produced in the January-through-March period, increased at a 1.6% annualized pace when adjusted for seasonality and inflation,...