Just weeks ago, they were bit players in the giant U.S. banking system. Now, a handful of regional lenders are at the heart of a crisis that’s shaken the country and engaged the likes of Warren Buffett and Jamie Dimon.

At the last tally in the rapidly evolving turmoil, one of the two collapsed lenders remained for sale while the fate of a ...Read more

What’s bad for the economy is sometimes good for motorists.

High-profile bank failures sent stock market and crude oil prices plunging last week amid renewed concerns that a global recession could be taking shape.

U.S. crude oil prices dropped about 13% over the past week, from $74.43 a barrel on March 14 to $64.54 in early morning trading ...Read more

A recession could be on the way. Or it could not.

Economists have been predicting and prognosticating for months, some saying the economy will recede later this year, while others point to 2024. If it does happen, most agree it will be mild, not to the level of job losses from the 2007-09 Great Recession.

Regardless which forecast is right, ...Read more

In another push to reduce costs and trim workforce, Amazon announced Monday its plans to lay off another 9,000 employees, bringing its total job cuts to 27,000 since November.

CEO Andy Jassy told employees Monday the company had finished another round of its annual cost-cutting review and decided to eliminate more roles in the next few weeks. ...Read more

The Walt Disney Co. plans to lay off about 4,000 people company-wide as part of the 7,000 job cuts CEO Bob Iger announced in February, according to a report by Business Insider.

Managers have been asked to identify layoff candidates by April, an unidentified person with knowledge of Disney’s decision told the publication. The same individual ...Read more

The national-security and mental-health risks posed by TikTok are shared by other social media platforms, according to an advocacy group that’s urging Congress to also hold U.S. companies accountable ahead of high-profile testimony from TikTok’s chief executive officer.

The Tech Oversight Project, a nonprofit, says Meta Platforms Inc., ...Read more

Just weeks ago, they were bit players in the giant U.S. banking system. Now, a handful of regional lenders are at the heart of a crisis that’s shaken the country and engaged the likes of Warren Buffett and Jamie Dimon.

At the last tally in the rapidly evolving turmoil, one of the two collapsed lenders remained for sale while the fate of a ...Read more

Time is a crucial ingredient for building wealth. But these economic times for millennials, those born between 1981 and 1996, have not been auspicious.

Culprits included the 2018 Great Recession, which took off just as many were graduating from college or in the early days of their careers. Add to that the huge student-loan debt load that so ...Read more

Jesse Thorn has built a sizable audience with his podcast business Maximum Fun. His NPR interview show, "Bullseye With Jesse Thorn," has brought on guests including Jonathan Majors, Tom Hanks and Kareem Abdul-Jabbar.

But during the last few years, he said, running the Los Angeles-based business drove him to a breaking point. The father of three...Read more

The Federal Reserve faces a pivotal decision on March 22, 2023: whether to continue its aggressive fight against inflation or put it on hold.

Making another big interest rate hike would risk exacerbating the global banking turmoil sparked by Silicon Valley Bank’s failure on March 10. Raising rates too little, or not at all as some ...Read more

The Biden administration released its first National Cybersecurity Strategy on March 2, 2023. The last version was issued in 2018 during the Trump administration.

As the National Security Strategy does for national defense, the National Cybersecurity Strategy outlines a president’s priorities regarding cybersecurity issues. The ...Read more

Central banks around the world lined up to hail Credit Suisse’s rescue, and emphasized the strength of the lenders under their remit.

U.S. Treasury Secretary Janet Yellen and Federal Reserve Chair Jerome Powell said they welcomed the Credit Suisse deal announced Sunday and stressed that the capital and liquidity of U.S. banks is strong.

“...Read more

A coalition of midsize U.S. banks asked federal regulators to extend FDIC insurance to all deposits for the next two years, arguing the guarantee is needed to avoid a wider run on the banks.

“Doing so will immediately halt the exodus of deposits from smaller banks, stabilize the banking sector and greatly reduce chances of more bank failures,...Read more

Mindgeek, an IT company which owns Pornhub, was purchased Thursday by the private equity firm Ethical Capital Partners.

The Ottawa, Canada, firm now holds complete control of the adult entertainment website and vows to steer the company in a new direction, reports NBC News.

Solomon Friedman, Ethical Capital’s vice president of compliance, ...Read more

Las Vegas resident Michael McCarthy used to visit casinos about five times a month, but now it’s down to once a month for one reason — inflation.

“The prices of everything have gone up and stayed high,” McCarthy, a retired stockbroker, said after purchasing groceries from Smith’s in Spring Valley.

The government reported this week ...Read more

One of the hottest debates in the Georgia General Assembly this year is not a culture war skirmish. It’s a proposal to allow trucks to carry heavier loads on Georgia highways.

House Bill 189 would allow some commercial vehicles to carry an extra 4,000 pounds — about the weight of a midsize SUV. It has pitted some of the state’s largest ...Read more