First Republic Bank seized by regulators, then sold to JPMorgan Chase
The regional lender, whose collapse is the second-biggest bank failure in U.S. history, is the third bank to be seized by regulators since March.
The regional lender, whose collapse is the second-biggest bank failure in U.S. history, is the third bank to be seized by regulators since March.
More than 4,000 students visited the state's largest construction career fair.
The economy grew at a tepid 1.1% rate, showing that the Fed's interest rate hikes are taking effect.
Mired in a prolonged sales slump, the retail chain has struggled to attract customers both in stores and online.
CEO Jonah Peretti wrote in a memo that "the company can no longer continue to fund BuzzFeed News as a standalone organization."
Wedding dress retailer cites "post-COVID environment and uncertain economic conditions," saying it's looking for a buyer.
Majority of respondents remain pessimistic about the economy as a whole, according to Primerica survey.
Are robot waiters the future?
Inflation's still high, but analysts warn that further rate hikes from the Fed could lead more more banks to topple.
The government said Wednesday that retail sales slipped 0.4% after jumping a revised 3.2% in January, helped by an increase in auto sales.
All deposit accounts at Silicon Valley Bank and Signature Bank in New York will be guaranteed, the Federal Reserve, Treasury Dept. and FDIC said in a joint statement.
U.S. employers posted 10.8 million job openings in January, indicating the American job market continues to run too hot for the inflation fighters at the Federal Reserve.
As the spring homebuying season approaches, affordability is at its lowest point in history, one economist said.
Amid a growing jobs gap, companies like DTE are teaming up to help the cause. Hear from Jerry Norcia - president/CEO of DTE Energy, Nicole Sherard-Freeman, group executive of City of Detroit's Job and Economy Team, Portia Roberson, CEO of Focus: HOPE, and James Shaw of IBEW Local 17 as they discuss one new program and, the overall jobs picture.
The U.S. economy expanded at a 2.7% annual rate from October through December, a solid showing despite rising interest rates and elevated inflation, the government said Thursday in a downgrade from its initial estimate.
Home Depot marked one of the S&P's larger losses despite reporting stronger profit than expected for end of 2022.
The Conference Board's consumer confidence index — a closely watched metric gauging attitudes about the current and future strength of the economy — measured 107.1 in January, according to data released Tuesday by the business think tank.
U.S. economy grew at 2.9% rate in last three months of year despite pressure of high rates and fears of recession.
The fight over the nation's debt limit could have very real implications on everything from your 401(k) to Social Security.
Should Fed's rate hikes cause a recession, a jump in layoffs and unemployment claims would be an early sign.
Each week brings head-scratching contradictory news about the economy. This past week was no different, with a batch of economic reports showing that — despite the recession talk — the US economy shows remarkable resilience.
Inflation dropped to still-high 6%, likely bolstering Fed's resolve to keep raising interest rates well into 2023.
The House vote to impose a contract brokered by the White House but rejected by some workers was 290 to 137.
It's estimated more gift buyers are likely to shop on Small Business Saturday than Black Friday this year.
Heading into the all-important holiday shopping season, American consumers still aren't feeling very confident about the state of the US economy.
It's prime back-to-school shopping season. As inflation woes continue, families do everything they can to stock up on items to kick off the school year.
Rain or shine, people were ringing in the celebration on Friday at the annual event, which someone described to me as Detroit's Mardi Gras.
Prosecutors in Michigan have struck a deal with a pharmacist who is blamed for deaths from a national meningitis outbreak in 2012.
Heritage Collegiate Apparel, largely known as M Den, announced on Friday that it has filed for Chapter 11 bankruptcy, a day after closing its Novi location.
The city developed eight action areas, including improving shelter facilities, increasing shelter staff, expanding affordable housing, and reducing youth and veteran homelessness.
It's prime back-to-school shopping season. As inflation woes continue, families do everything they can to stock up on items to kick off the school year.
Rain or shine, people were ringing in the celebration on Friday at the annual event, which someone described to me as Detroit's Mardi Gras.
Judge Kenneth King is ordered to attend training "to address the underlying issues that contributed to this incident," according to 36th District Court Chief Judge William McConico.
Prosecutors in Michigan have struck a deal with a pharmacist who is blamed for deaths from a national meningitis outbreak in 2012.
Heritage Collegiate Apparel, largely known as M Den, announced on Friday that it has filed for Chapter 11 bankruptcy, a day after closing its Novi location.
The Biden administration announced that $50 million will go to Michigan, Ohio, Indiana, Kentucky, Tennessee and Illinois to boost electric vehicle production.
The union hosted a call Wednesday, during which members will hear what's at stake in November, the union's key issues, and how they're looking to win against the so-called "billionaire class."
"The Connect" is an autonomous shuttle service with 16 stops to help people get to or near their destination.
Stellantis is warning that it could lay off as many as 2,450 of the 3,700 union workers employed at a truck plant just outside of Detroit.
Mohawk Chevrolet in New York has gone viral on TikTok for its "The Dealership" parody series. The company brought the series to Detroit and featured General Motors CEO Mary Barra.
For many of these diehard car enthusiasts we spoke to Thursday, Saturday will be a rain-or-shine event. Their vehicles might say otherwise.
Taylor Swift's blockbuster "Eras Tour" resumed in London on Thursday after her concerts in Vienna were canceled earlier this month because of an alleged terror plot.
Gena Rowlands, hailed as one of the greatest actors to ever practice the craft, died at 94 on Wednesday, her representatives confirmed.
Robert Englund, the actor best known for playing Freddy Krueger in "A Nightmare on Elm Street," will attend Motor City Comic Con in November.
The family is demanding $3 million for Trump's use of "Hold On, I'm Coming" at his rallies.
Prosecutors in Michigan have struck a deal with a pharmacist who is blamed for deaths from a national meningitis outbreak in 2012.
Lisa Jeanine Findley, 53, faces federal charges of mail fraud and aggravated identity theft.
Many million-dollar properties are no longer considered luxury homes, with almost 1 in 10 U.S. houses costing at least that.
Should I freeze my credit? Here's what experts say, and how to stop bad actors from accessing your file.
NOAA forecasters say there's a 77% chance that 2024 will be the warmest year on record, after July marked the 14th consecutive monthly record.
Prosecutors in Michigan have struck a deal with a pharmacist who is blamed for deaths from a national meningitis outbreak in 2012.
WNV has been detected in several dozen mosquito pools and wild birds across the state.
It's nearly one month until the start of the fall season, and in Oakland County, the health office says to be careful as West Nile virus looms in mosquitoes.
Florida cucumber grower used untreated canal water found to be tainted with salmonella bacteria, laboratory tests found.
The Oakland County Health Division says WNV was detected in three birds and the county's mosquito pool in 2024
Detroit City FC continues their three-game road trip in Birmingham on Friday night against Eastern Conference rival Birmingham Legion FC.
Stalions was on head coach Jim Harbaugh's staff until he resigned in November.
Australia breaker Rachael Gunn, also known as B-Girl Raygun, said the "hate" she has received over her Paris Olympics performance has been "devastating."
Team USA's Jordan Chiles took to Instagram to open up about the loss of her bronze medal.
The "Frozen Confines: Big Ten Hockey Series" will feature a pair of doubleheaders on Jan. 3 and 4.
Michigan GOP Party Chair Pete Hoekstra and State Sen. Mallory McMorrow discuss the results of the primary and how the field of candidates still standing and their prospects look as Election 2024 enters the sprint to the finish line on Nov. 5 on CBS Detroit's Michigan Matters
Michigan's primary was held Tuesday, with numerous contests being voted on, including the open U.S. Senate seat, several Michigan U.S. House seats and much more.
The spotlight is on two successful Detroit family-owned businesses on CBS Detroit's Michigan Matters as leaders from PVS Chemicals and Sweet Potato Sensations talk about working for a family enterprise and the nuances.
With a red-hot election season on and 2024 past the halfway point, the focus is on business.
Gardner-White is a 112-year-old family-owned furniture retailer, and Stewart is the first female to serve as CEO of the company.
Connor Stalions, the former low-level recruiter at the University of Michigan who was allegedly behind the sign-stealing scandal, has landed a new job as an assistant coach at Mumford High School in Detroit.
We'll see a few more showers before sunset then mostly cloudy skies overnight. If you have outdoor plans on Sunday be prepared for isolated showers and/or storms, especially in the afternoon.
With back-to-school season comes the need to buy school supplies and new clothes. Experts say the cost of back to school shopping this year is near an all time high.
Heritage Collegiate Apparel, largely known as M Den, announced on Friday that it has filed for Chapter 11 bankruptcy, a day after closing its Novi location.
The Woodward Dream Cruise is set to kick off on Saturday. Rain or shine, people were ringing in the celebration on Friday ahead of the annual event, which someone described to me as Detroit's Mardi Gras.