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.

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.

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.

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."

Amazon to cut 9,000 more jobs amid 'uncertain economy'

Amazon announced Monday that it plans to cut an additional 9,000 roles within the next few weeks amid the uncertain economic environment.

Study finds 186 banks vulnerable to Silicon Valley Bank-like collapse

A new study says that, depending on certain market conditions, nearly 200 U.S. banks could be vulnerable to the same fate as Silicon Valley Bank.

4-day workweek bill reintroduced in California

A California congressman has reintroduced a bill to Congress that would end the traditional five-day work cycle.

Big banks create $30B rescue package for First Republic

Eleven of the biggest banks in the country announced a $30 billion rescue package for First Republic Bank on Thursday, in an effort to prevent the California-based bank from becoming the third bank to fail in less than a week and head off a broader crisis in the banking sector. 

Mega Millions: Winning $2 million ticket sold in California

A Mega Millions ticket worth a little over $2 million was sold in Los Angeles County, according to California Lottery officials.

2 failed banks, February inflation remaining high put Fed in tough spot

The government reported Tuesday that February prices were still elevated, which could drive another interest rate hike. But the collapse of two banks in recent days has the potential to stop it.

Silicon Valley Bank's demise impacts SF Housing projects

The stress of Silicon Valley Bank's sudden collapse was clear Monday, as a long line of clients lined up to get cash from the Santa Clara headquarters.