CNBC
United States 
05 Apr BirthCNBC is the world leader in business news and real-time financial market coverage. Find fast, actionable information.
United States 05 Apr Birth
UK economy emerges from recession with 0.6% growth in first quarter
The U.K. economy has emerged from recession as gross domestic product rose 0.6% in the first quarter, official figures showed Friday, beating expectations. Economists polled by Reuters had forecast growth of 0.4% on the previous three months of the year. The U.K. entered a shallow recession in the s
The U.S. is now Germany’s biggest trading partner — taking over from China
After years of China being Germany's main trading partner, the U.S. looks like it's quietly taking that top spot as the year progresses. Combined exports and imports between Germany and the U.S. totaled 63 billion euros ($68 billion) between January and March on 2024. Meanwhile, trade between German
Weekly jobless claims jump to 231,000, the highest since August
Initial filings for unemployment benefits hit their highest level since late August 2023 in a potential sign that an otherwise robust labor market is changing. Jobless claims totaled a seasonally adjusted 231,000 for the week ended May 4, up 22,000 from the previous period and higher than the Dow Jo
Stanley Druckenmiller gives Biden's economic policies an 'F', blames the Fed for reigniting inflation
Reckless government spending enabled by the Federal Reserve is hurting average Americans and endangering President Joe Biden's re-election chances, billionaire investor Stanley Druckenmiller said Tuesday. The head of Duquesne Family Office who made his name betting against the British pouned in the
Renters' hopes of being able to buy a home have fallen to a record low, New York Fed survey shows
The dream of home ownership has gotten even further away for renters, with higher housing costs and elevated interest rates standing in the way of the American housing dream, according to a New York Federal Reserve survey released Monday. The share of renters as of February who possess hopes of "res
Jobless rates rise in April for all racial groups except Black Americans
The unemployment rate for Black Americans fell in April, bucking the overall trend, according to data released Friday by the Department of Labor. Black Americans remain the racial group with the highest jobless percentage in the U.S., even after the group's unemployment rate dipped to 5.6% last mont
Immigrant workers are helping boost the U.S. labor market
The strong jobs market has been bolstered post-pandemic by strength in the immigrant workforce in America. And as Americans age out of the labor force and birth rates remain low, economists and the Federal Reserve are touting the importance of immigrant workers for overall future economic growth. Im
U.S. job growth totaled 175,000 in April, much less than expected, while unemployment rose to 3.9%
The U.S. economy added fewer jobs than expected in April while the unemployment rate rose, reversing a trend of robust job growth that had kept the Federal Reserve cautious as it looks for signals on when it can start cutting interest rates. Nonfarm payrolls increased by 175,000 on the month, below
Turkey's inflation accelerates to nearly 70% in April
Turkey's inflation accelerated to 69.8% annually for the month of April, the Turkish Statistical Institute reported Friday. The highest consumer price increases year-on-year were in education, with a 103.86% jump, and hotels, cafes and restaurants, with an increase of 95.82%. On a monthly basis, Tur
Here's what to expect from the April jobs report on Friday
Hiring likely continued at a brisk pace in April as investors look for any cracks in the labor market that could sway the Federal Reserve. Nonfarm payrolls are expected to a show a gain of 240,000 for the month, according to the Dow Jones consensus that also sees the unemployment rate holding steady
UK to suffer slowest growth of all rich nations next year, OECD says
The U.K.'s "sluggish" growth prospects have put it on course to be the worst-performing economy of all advanced nations next year, according to new forecasts from the Organisation for Economic Cooperation and Development. U.K. gross domestic product (GDP) is expected to grow by 0.4% in 2024, down fr
BlackRock is opening a Saudi investment firm with initial $5 billion from PIF
Asset 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 (PIF), the kingdom's sovereign wealth fund. The announcement Tuesday followed the signing of a memorandum of understanding between BlackRock
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, according to ADP. The payrolls processing firm reported Wednesday that companies added 192,000 workers for the month, better than the Dow Jones consensus outl
Here's everything to expect when the Fed wraps up its meeting Wednesday
Faced with stubborn inflation that has raised concerns about where policy is headed, the Federal Reserve has been ensnared in a holding pattern that likely will be reflected when it closes its meeting Wednesday. Markets are anticipating a near-zero chance that the Federal Open Market Committee, the
McDonald's and other big brands warn that low-income consumers are starting to crack
Some of America's best-known corporations are saying their consumers are being pinched by inflation as prices continue rising. Inflation has dominated corporate America's discourse over the past three years following the pandemic-induced easing of monetary policy and trillions of dollars in Covid re
Pull-up Update
