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Bank deposit fund loses billions as buyer found for failed SVB’s assets

Updated 7:56 a.m.

Federal regulators expect the collapse of Silicon Valley Bank to cost the government's deposit insurance fund an estimated $20 billion, a figure that analysts say makes it the most expensive bank failure in U.S. history.

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Yellen says Silicon Valley Bank’s depositors are concern, focus for regulators

UPDATED: Sun., March 12, 2023

WASHINGTON — Treasury Secretary Janet Yellen said regulators are working through the weekend to resolve the collapse of Silicon Valley Bank with a particular focus on depositors, rather than bailing out investors, though she declined to provide details of possible solutions.

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Girl Scout cookies crumble under supply chain woes, labor shortage

UPDATED: Sun., March 12, 2023

For some Girl Scouts and their bake sale fans, it's shaping up to be another tough cookie season.

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U.S. sues Exxon Mobil over nooses found at Louisiana refinery

UPDATED: Sun., March 5, 2023

The federal government filed an employment discrimination lawsuit in Louisiana on Friday against Exxon Mobil after investigating a Black employee’s complaint that nooses had been found at a Baton Rouge, Louisiana, refinery complex.

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Employers added 517,000 jobs in January, astonishing labor market growth

UPDATED: Fri., Feb. 3, 2023

The labor market shattered expectations in January, as the economy added 517,000 jobs and the unemployment rate dropped to 3.4 percent, a low not seen since May 1969, according to data released Friday from the Bureau of Labor Statistics.

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Vision loss, 1 death possibly linked to brand of artificial tears, CDC investigation shows

UPDATED: Fri., Feb. 3, 2023

The Atlanta-based Centers for Disease Control and Prevention is investigating a multistate cluster of bacterial infections linked to a brand of over-the-counter eyedrops.

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FTC is preparing potential antitrust case against Amazon

UPDATED: Fri., Feb. 3, 2023

The U.S. Federal Trade Commission is preparing a possible lawsuit against Amazon.com Inc. that could be filed as soon as this spring, according to people familiar with the investigations.

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Food costs are tumbling but shoppers still face soaring bills

UPDATED: Fri., Feb. 3, 2023

As a rout in the price of food commodities from wheat to cooking oil deepens, the cost of products on grocery shelves continues to rise.

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Meta restores Trump’s social media megaphone ahead of 2024 election

UPDATED: Wed., Jan. 25, 2023

Meta announced on Wednesday it was reinstating former president Donald Trump's social media accounts after a two-year suspension over his role in praising the rioters who stormed the U.S. Capitol on Jan. 6, 2021.

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IBM to cut about 3,900 workers, still hiring in ‘higher growth’ areas

UPDATED: Wed., Jan. 25, 2023

IBM delivered an upbeat annual sales forecast while announcing it would eliminate about 1.5% of its global workforce, following similar job cuts the past few months by many of its technology peers.

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Stocks shrug off gloom; Tesla whipsaws on earnings

UPDATED: Mon., Jan. 30, 2023

Wall Street shook off most of the losses driven by a dire sales warning from Microsoft, with stock traders shifting their focus to Tesla's earnings report after the closing bell.

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Boeing hints new jet it’s testing with NASA could replace 737 Max

UPDATED: Wed., Jan. 25, 2023

Boeing is studying whether an innovative plane it's developing with NASA could find a home in its lineup in the next decade, the company's top executive said, offering a tantalizing glimpse into its product strategy.

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Big Tech’s job cuts spur rallies even as an economic slowdown looms

UPDATED: Wed., Jan. 25, 2023

Massive job cuts in Silicon Valley are bringing some relief to investors after a year-long stock sell-off, as companies indicate they're focused on bolstering their profits heading into a key earnings reporting season.

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Washington Post lays off 20 employees

UPDATED: Tue., Jan. 24, 2023

The Washington Post laid off 20 staffers on Tuesday, the latest in a series of media and technology companies to cut jobs in the face of a challenging economic climate and continuing declines in advertising revenue and readership.

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Starbucks to close another Seattle store; workers skeptical of safety claims

UPDATED: Tue., Nov. 22, 2022

Nov. 22—Starbucks will close its Seattle store at Broadway East and Denny Way next month, the company told workers Monday night. The closure of the Capitol Hill store will take effect Dec. 11, according to the company. Seattle-based Starbucks said its attempts to address safety concerns at the location were not effective. Incidents included theft, vandalism, property damage, drug use, threats ...

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Steve Jobs loved Birkenstocks. His old pair just sold for $218,000.

UPDATED: Tue., Nov. 15, 2022

When it comes to fashion, Steve Jobs, the late founder of Apple, is best known for his laid-back uniform of a black turtleneck, jeans and dad sneakers. But the tech giant also had something in common with today’s supermodels and TikTok influencers: a love of Birkenstocks.

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Idaho elected new lawmakers — 1 of 3 will be rookies, with new House speaker

Sat., Nov. 12, 2022

Idaho legislative leaders are bracing for challenges that come with record turnover, as 39 first-time state legislators will take their seats when the 2023 session gavels in Jan. 9 at the Idaho State Capitol.

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FTX chief Sam Bankman-Fried resigns as firm files for bankruptcy

UPDATED: Fri., Nov. 11, 2022

FTX, one of the world's largest cryptocurrency exchanges, announced Friday it will file for bankruptcy, with its CEO, Sam Bankman-Fried, stepping down in the wake of a trading scandal that has embroiled the firm in regulatory inquiries.

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Stocks cap best week since June, and tech gets its mojo back

UPDATED: Fri., Nov. 11, 2022

U.S. stocks gained surer footing after a choppy morning session, extending a rally sparked by a slowdown in inflation. The dollar fell, declining for a fourth week.

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Twitter pauses $8 subscription program after fake accounts proliferate

UPDATED: Fri., Nov. 11, 2022

Twitter Inc. suspended the $8 subscription program it launched earlier this week to combat a growing problem of users impersonating major brands, a person familiar with the move said.

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Elizabeth Holmes asks for a lenient 18-month sentence at home

UPDATED: Sat., Nov. 12, 2022

Convicted Theranos Inc. founder Elizabeth Holmes said she deserves to spend 18 months in home confinement, not prison, asking the judge who will sentence her next week to look beyond the “mocked and vilified” caricature of her as a cheat, and to instead see her as a human being.

Featured Stories

Bank deposit fund loses billions as buyer found for failed SVB’s assets

Latest Stories

Yellen says Silicon Valley Bank’s depositors are concern, focus for regulators

Girl Scout cookies crumble under supply chain woes, labor shortage

U.S. sues Exxon Mobil over nooses found at Louisiana refinery

Employers added 517,000 jobs in January, astonishing labor market growth

Vision loss, 1 death possibly linked to brand of artificial tears, CDC investigation shows

FTC is preparing potential antitrust case against Amazon

Food costs are tumbling but shoppers still face soaring bills

Meta restores Trump’s social media megaphone ahead of 2024 election

IBM to cut about 3,900 workers, still hiring in ‘higher growth’ areas

Stocks shrug off gloom; Tesla whipsaws on earnings

Boeing hints new jet it’s testing with NASA could replace 737 Max

Big Tech’s job cuts spur rallies even as an economic slowdown looms

Washington Post lays off 20 employees

Starbucks to close another Seattle store; workers skeptical of safety claims

Steve Jobs loved Birkenstocks. His old pair just sold for $218,000.

Idaho elected new lawmakers — 1 of 3 will be rookies, with new House speaker

FTX chief Sam Bankman-Fried resigns as firm files for bankruptcy

Stocks cap best week since June, and tech gets its mojo back

Twitter pauses $8 subscription program after fake accounts proliferate

Elizabeth Holmes asks for a lenient 18-month sentence at home

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