JPMorgan Chase taking over First Republic Bank in 2nd largest bank failure in U.S. history
JPMorgan Chase, the nation's largest bank, is now taking over San Francisco-owned First Republic Bank, in the second-largest bank failure in U.S. history with the shareholder the clear losers.
JPMorgan Chase, the nation's largest bank, is now taking over San Francisco-owned First Republic Bank, in the second-largest bank failure in U.S. history with the shareholder the clear losers.
First Republic Bank seized by regulators, sold to JPMorgan Chase
San Francisco-based First Republic is the third midsize bank to fail in two months and is the second-biggest bank failure in U.S. history.
San Francisco-based First Republic is the third midsize bank to fail in two months and is the second-biggest bank failure in U.S. history.
Restart of federal student loan payments may be around the corner
The student loan payment freeze dates to early 2020.
The student loan payment freeze dates to early 2020.
Banking's bad day: Collapse of Silicon Valley Bank
Federal banking officials have released their finding on the crash of Silicon Valley Bank on a day another once booming bank hangs on by a thread. A bad day for banking just got worse with news fo a fourth failure.
Federal banking officials have released their finding on the crash of Silicon Valley Bank on a day another once booming bank hangs on by a thread. A bad day for banking just got worse with news fo a fourth failure.
Silicon Valley Bank failure: Fed partly blames itself for collapse
Silicon Valley Bank failed due to a combination of extremely poor bank management, weakened regulations and lax government supervision, the Federal Reserve said Friday, in a highly-anticipated review of how the central bank failed to properly supervise the bank before it collapsed early last month.
Silicon Valley Bank failed due to a combination of extremely poor bank management, weakened regulations and lax government supervision, the Federal Reserve said Friday, in a highly-anticipated review of how the central bank failed to properly supervise the bank before it collapsed early last month.
These are the cities you can earn six figures in and still be broke
A new study found that in 16 of the 100 largest U.S. metros, a family of three earning a $100,000 annual income would spend more on the basics than what they earn. California cities made up half of the list.
A new study found that in 16 of the 100 largest U.S. metros, a family of three earning a $100,000 annual income would spend more on the basics than what they earn. California cities made up half of the list.
First Republic Bank plans for massive layoffs
First Republic Bank, headquartered in San Francisco, announced plans to layoff up to 25% of its staff.
First Republic Bank, headquartered in San Francisco, announced plans to layoff up to 25% of its staff.
1st Trader Joe's store unionizes in California
A Trader Joe's in Oakland has become the first of the chain's supermarkets in California to unionize.
A Trader Joe's in Oakland has become the first of the chain's supermarkets in California to unionize.
SF launches "Vacant to Vibrant" program calling for ideas to turn office space into pop-up shops
When Simon Bertrang walks through downtown San Francisco, he doesn't just see empty storefronts, he sees properties, full of potential. Bertrang is executive director of SF New Deal, a non-profit chosen by the city to launch the program "Vacant to Vibrant".
When Simon Bertrang walks through downtown San Francisco, he doesn't just see empty storefronts, he sees properties, full of potential. Bertrang is executive director of SF New Deal, a non-profit chosen by the city to launch the program "Vacant to Vibrant".
US retail sales fall amid high inflation, rising rates
The decline in sales adds to other recent evidence that the economy is cooling as consumers grapple with higher interest rates and the impact of a year-long bout of elevated inflation.
The decline in sales adds to other recent evidence that the economy is cooling as consumers grapple with higher interest rates and the impact of a year-long bout of elevated inflation.
Demand at regional food banks soars as layoffs, food prices, increase
The primary food bank which serves San Mateo and Santa Clara counties is seeing rising demand only slightly below pandemic-era highs. Higher food prices and layoffs are citied. Leaders say more support is needed from cities and the private sector.
The primary food bank which serves San Mateo and Santa Clara counties is seeing rising demand only slightly below pandemic-era highs. Higher food prices and layoffs are citied. Leaders say more support is needed from cities and the private sector.
Marin County parks to stop collecting parking fees
The Marin County Board of Supervisors will vote on a proposal soon to end parking fees for all five county-owned parks.
The Marin County Board of Supervisors will vote on a proposal soon to end parking fees for all five county-owned parks.
Latest job reports defy economic gravity
The latest jobs reports seem to continue to defy economic gravity. Despite the bank scare, massive tech layoffs and a slowing economy, the job market remains robust with 236,000 new jobs with unemployment at rock bottom; 3.6%.
The latest jobs reports seem to continue to defy economic gravity. Despite the bank scare, massive tech layoffs and a slowing economy, the job market remains robust with 236,000 new jobs with unemployment at rock bottom; 3.6%.
US adds 236,000 jobs in March despite Fed's rate hikes
The latest signs increasingly suggest that an economic slowdown may be upon us.
The latest signs increasingly suggest that an economic slowdown may be upon us.
Tech layoffs, high interest rates are having ‘serious impact’ on how people buy homes
Facebook, Twitter and other companies announced layoffs this year amid rising interest rates. Experts say it’s affecting both prospective homebuyers and sellers.
Facebook, Twitter and other companies announced layoffs this year amid rising interest rates. Experts say it’s affecting both prospective homebuyers and sellers.
Social Security cuts could be coming soon — here's who will be affected
A recent government report suggests that Social Security funds face a long-term financial crunch that could mean some benefits get cut sooner for retirees.
A recent government report suggests that Social Security funds face a long-term financial crunch that could mean some benefits get cut sooner for retirees.
First Citizens to acquire troubled Silicon Valley Bank, FDIC says
Customers of Silicon Valley will automatically become customers of First Citizens, which is headquartered in North Carolina.
Customers of Silicon Valley will automatically become customers of First Citizens, which is headquartered in North Carolina.
Banking industry sees another shock as share prices of global giant Deutsche Bank drop
The banking industry suffered another shock Friday, as global financial giant Deutsche Bank saw a sharp drop in stock prices, closing down 8.5% after falling as much as 14% during trading.
The banking industry suffered another shock Friday, as global financial giant Deutsche Bank saw a sharp drop in stock prices, closing down 8.5% after falling as much as 14% during trading.
Gender pay gap in US hasn’t changed much in two decades, report finds
New analysis from Pew Research finds that despite women earning more now than they did over 30 years ago, the disparity in pay for them compared to men has been stagnant.
New analysis from Pew Research finds that despite women earning more now than they did over 30 years ago, the disparity in pay for them compared to men has been stagnant.
Federal Reserve raises key interest rate by quarter-point
The Fed also warned that the financial upheaval stemming from the collapse of two major banks is “likely to result in tighter credit conditions" and “weigh on economic activity, hiring and inflation."
The Fed also warned that the financial upheaval stemming from the collapse of two major banks is “likely to result in tighter credit conditions" and “weigh on economic activity, hiring and inflation."