Former co-owner of Richmond manufacturing company charged in wire fraud scheme

A federal grand jury in Oakland has charged the former co-owner of a Richmond manufacturing company with wire fraud and money laundering in connection with a scheme to divert tens of thousands of dollars from the company to his personal bank accounts.   

Coco Republic, latest retailer to announce it's leaving SF's Union Square

Coco Republic, a self-described luxury Australian furniture brand, will close its 53,000 square-foot showroom, located in San Francisco's Union Square this summer, the company announced.

Debt ceiling deadlock continues with next meeting set for Friday

A critical meeting between President Biden and Congressional leaders ended Tuesday with no deal on the debt ceiling deadlock. 

Former IRS officer who also worked in tax enforcement for Oakland charged in $3M PPP loan scheme

A former revenue officer with the Internal Revenue Service, who also worked as a tax enforcement officer for the city of Oakland, has been charged in a $3 million scheme involving the Paycheck Protection Program (PPP), according to the U.S. Attorney’s Office Northern District of California.  

Inflation and interest rate hikes are negatively impacting Americans' financial well-being: survey

Inflation and interest rate hikes have negatively impacted Americans' financial well-being and many have made no progress in saving for retirement or building emergency funds, according to a survey by Morning Consult. Here’s what you need to know.

Gas prices drop amid recession fears, pre-summer lull: AAA

Gas prices decreased last week, but rising interest rates have raised concerns of a recession, according to AAA.

TurboTax customers to receive checks in $141 million settlement

The company was ordered to pay $141 million to low-income consumers who were tricked into paying TurboTax to file their federal returns — despite being eligible for free tax services.

Nordstrom, Anthropologie, Saks OFF 5TH closing downtown San Francisco shops

Nordstrom announced Tuesday morning they are closing both the downtown San Francisco flagship store and the Market Street Rack after 35 years in business.

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. 

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.

Former Apple employee ordered to serve jail time, pay restitution for fleecing the company

Dhirendra Prasad’s sentencing for two charges — conspiracy to commit mail fraud and wire fraud and conspiracy to defraud the U.S. — stemmed from an alleged plot that lost Apple over $17 million.

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.

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.