Ongoing disruption to trade flows through the Red Sea could hit global economic growth, the head of one of the world's largest container shipping firms said Thursday.Maersk CEO Vincent Clerc said it remained unclear whether passage through the waterway would be re-established in "days, weeks or months," in comments...
Vanishing Turkish Currency: 1 Turkish Lira with the Portrait of Kemal AtatürkTurkishManuel Augusto Moreno | Moment | Getty ImagesThe Turkish lira hit a fresh record low against the U.S. dollar on Thursday, trading at 30.005 to the greenback just before noon local time. It marks the first time that...
Consumers shop at a retail chain store in Rosemead, California, on Dec. 12, 2023.Frederic J. Brown | AFP | Getty ImagesEconomists expect that inflation nudged higher in December, a trend that could call into question the market's eager anticipation that the Federal Reserve will slash interest rates this year.The...
People carry shopping bags as they visit a department store during the holiday season in New York City.Eduardo Munoz | ReutersRetailers chalked up solid gains in the final month to wrap up the holiday season, according to the CNBC/NRF Retail Monitor for December.However, the data also shows the true...
Saudi Arabia nearly doubled the estimate for the value of its mineral resources and is seeing lucrative deals signed during its Future Minerals Forum held in Riyadh this week, ministers told CNBC.Estimates for the kingdom's untapped mineral reserves have jumped from $1.3 trillion in a 2016 forecast to $2.5...
A screen displays the Dow Jones Industrial Average after the closing bell on the floor at the New York Stock Exchange on Dec. 13, 2023.Brendan Mcdermid | ReutersThe global economy is moving into a new "super cycle," with artificial intelligence and decarbonization being driving factors, according to Peter Oppenheimer,...
A pedestrian holds an umbrella as they walk along a street in the rain in Times Square, New York, on Sept. 26, 2023.Ed Jones | AFP | Getty ImagesThe state of the U.S. economy may be a chief concern among Americans, but 2023 wound up as a pretty good...
The U.S. labor market beat expectations again in December, adding 216,000 jobs to close out the year while the unemployment rate held steady at 3.7%.Yet the job gains were slower than the same period a year ago, with the three-month average gain dropping to 165,000 a month compared with...
A networking and hiring event for professionals of color in Minneapolis, MN. Michael Siluk | Getty ImagesThe unemployment rate for Black Americans fell significantly in December, closing out 2023 on a positive note, according to data released Friday by the Department of Labor.Black Americans, the group with the highest jobless percentage...
The U.S. labor market closed out 2023 in strong shape as the pace of hiring was even more powerful than expected, the Labor Department reported Friday.December's jobs report showed employers added 216,000 positions for the month while the unemployment rate held at 3.7%. Payroll growth showed a sizeable gain...