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Federal Reserve hikes key interest rate by another 75 basis points
The rise in the federal funds rate, which is what banks charge each other for overnight loans, comes as several significant pieces of economic data are released this week.
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The rise in the federal funds rate, which is what banks charge each other for overnight loans, comes as several significant pieces of economic data are released this week.
After billionaire Elon Musk said that he was abandoning his $44 billion buyout, Twitter vowed to pursue him in court.
The start of 2022 has pushed Wall Street into a bear market. Here's what the rest of the year could hold for investors.
"Inflation is much too high," Fed Chair Jay Powell said of the U.S. central bank's largest rate hike since 1994.
Manufacturers are again downsizing packaging in an effort to ease the hit from inflation. Are they going too far?
News alleviates investor doubts over billionaire's resolve, sending Twitter stocks up 5.5% in after-hours trading.
Billionaire Elon Musk said Tuesday he intends to reverse Twitter's ban against former President Donald Trump. CBS News' Tanya Rivero and Dan Patterson break down this announcement with CBS News tech reporter Dan Patterson.
As prices continue to rise in the midst of one of the largest periods of inflation America has ever seen, Dr. Christopher Thornburg, an economist and cofounder of Beacon Economics, joined the studio to offer advice on how people can prepare for "recession shock."
A warning from Bank of America has brought more questions than answers as experts warn of an oncoming recession. Dr. Richard Thornburg, an economist and founding partner of Beacon Economics, joined the studio to discuss the potential "recession shock" and what it means.
President Biden on Thursday announced the release of 180 million additional barrels of oil over the next six months to combat gas prices, as well as urged Congress to impose fees on companies that he accuses of "hoarding without producing" and discussed his plans to boost the domestic production of critical minerals. CBS News' Tanya Rivero and Meg Oliver sit down with Tamar Essner, a principal at Vectis Energy Partners, to discuss.
After backing out of a high-profile trip to the World Climate Conference, rumors and conspiracy theories began to emerge online about the Governor's handling of the job.
The consumer price index rose four tenths of a percent in September, 5.4 percent higher than what it was last year according to the U.S. Labor Department.
While many people worry about the long term economic effects of the coronavirus pandemic, some economists said the bounce back may be quicker than expected.
Amazon and Netflix continue to do well as coronavirus isolates people in their homes, but many other companies have benefited or may soon.
President Trump on Tuesday said he wants the U.S. "opened up" by Easter Sunday, which falls on April 12, despite an acceleration of coronavirus cases across the country.
Nearly 1 in 5 Americans say they have been laid off or have had their work hours cut over the coronavirus pandemic.
The revision is the first in the forecast's 68-year history where an update was published between its scheduled quarterly releases.
Southern Californians should expect to see a dip in the economy due to the growing precautions put in place to mitigate the spread of coronavirus in the U.S.
Looks like more people are finding work. The latest US jobs report shows hiring jumped in April -- employers added 263,000 jobs.
Stocks plunged Tuesday ahead of a day of mourning honoring the late President George H.W. Bush.
The economy is just as strong today as it was last week. Keep that in mind as you process the Dow's breathtaking 1,175-point plunge on Monday.
Is your small business protected from even the slightest of downturns? Use these solutions to provide stability to your cash flow.
Apple is planning to build another corporate campus and hire 20,000 workers during the next five years as part of a $350 billion commitment to the U.S. that will be partially financed by an upcoming windfall from the country's new tax law.
This stock market doesn't obey speed limits. It just blasted through another barrier: Dow 25,000, barely a month after it cracked 24,000 for the first time.
How do people feel about GOP tax bill? It depends on who you ask. Some business, advocacy and trade groups have major concerns with it. Others say the tax plan will boost the economy.
The U.S. Secret Service is facing mounting questions about the security flaws that allowed the shooter to fire from a rooftop near the rally.
Shop remaining deals on Apple's bestselling products as Amazon Prime Day 2024 enters its final hours.
Check out our top picks for the biggest and best deals from the Amazon Prime Day 2024 sale, happening right now.
Los Angeles City Council member Monica Rodriguez held a news conference on the effort to clean up a junk-filled property Wednesday, July 17, years after the first complaints were made.
A Southern California school district is suing Gov. Gavin Newsom over the new California law on children's gender identity.
The U.S. Secret Service is facing mounting questions about the security flaws that allowed the shooter to fire from a rooftop near the rally.
Los Angeles City Council member Monica Rodriguez held a news conference on the effort to clean up a junk-filled property Wednesday, July 17, years after the first complaints were made.
A Southern California school district is suing Gov. Gavin Newsom over the new California law on children's gender identity.
A man who fatally shot Los Angeles rapper Slim 400 in the city of Inglewood was sentenced to 32 years in prison.
Jack Black said he has put all future creative plans on hold after Tenacious D bandmate Kyle Gass made a controversial comment about the Trump rally shooting.
Los Angeles City Council member Monica Rodriguez held a news conference on the effort to clean up a junk-filled property Wednesday, July 17, years after the first complaints were made.
A Southern California school district is suing Gov. Gavin Newsom over the new California law on children's gender identity.
A man who fatally shot Los Angeles rapper Slim 400 in the city of Inglewood was sentenced to 32 years in prison.
An investigation is underway Wednesday morning after police officer shot a man outside an Arco gas station in Huntington Beach.
One person was killed and another was injured after a pickup rolled over multiple times on the 5 Freeway near Griffith Park Wednesday morning.
Six men have been charged with stealing more than 300 firearms from stores across Southern California, allegedly using stolen vehicles to ram into the gun shops before breaking into them.
The suspects stole a total of 85 handguns and rifles after they rammed a Kia through Fowler Gun Room.
Investigators claimed the suspect called the police on himself before charging at officers.
Investigators say that the gunman, a 17-year-old at the time of the shooting, was arrested over the weekend for the gang-related shooting that left 20-year-old Robert Izelo dead in April 2022.
A person was arrested on suspicion of intentionally throwing fireworks at a dog, leaving him burned and bleeding in Santa Ana.
A Southern California school district is suing Gov. Gavin Newsom over the new California law on children's gender identity.
Friends and family are mourning the loss of Joe Benson, a formerly homeless man who dedicated his time to helping others turn their lives around, who was killed early Tuesday morning as he crossed the street in Downtown LA.
After more than 80 years, the remains of a 26-year-old killed overseas during World War II are being returned to the United States for burial at Riverside National Cemetery.
The parents of an Apple Valley 1-year-old were arrested after the child was allegedly exposed to fentanyl.
Containment of the Vista Fire in San Bernardino County continues to improve after evacuation orders were lifted.
Board Chair Janice Hahn rides the Metro after the agency reached a five-year high in violent crime incidents.
After a two-year KCAL News Investigation uncovered serious concerns about police selling their old weapons, a new case study has brought a new light to where agencies buy their new guns.
Thousands of guns once owned by law enforcement have been found at crime scenes, including at incidents in Southern California, an in-depth investigation has revealed.
"No teacher should have to lie as part of their job". Ross Palombo talks to a teacher in the Los Angeles Unified School who says he was told to lie about class attendance, which is how the state calculates funding from your tax dollars.
The CDC recommends that at least 95% of students have the MMR vaccine in order to lower the risk of measles outbreaks at their school, but a recent KCAL News investigation shows that hundreds of SoCal schools are well below that number.
The U.S. Secret Service is facing mounting questions about the security flaws that allowed the shooter to fire from a rooftop near the rally.
Jack Black said he has put all future creative plans on hold after Tenacious D bandmate Kyle Gass made a controversial comment about the Trump rally shooting.
Former President Donald Trump looked on Tuesday night as his onetime rivals for the nomination lined up to support him.
Sen. Bob Menendez tried to shift the blame to his wife, Nadine Menendez, but was found guilty on all 16 felony counts for a scheme involving bribery and business favors.
After many people criticized Andress' rendition of the National Anthem online, comparing her with Fergie, the singer says she's going to rehab.
The U.S. Secret Service is facing mounting questions about the security flaws that allowed the shooter to fire from a rooftop near the rally.
The DNC sent a letter to the convention rules committee saying that "no virtual voting will begin before August 1."
Former President Donald Trump looked on Tuesday night as his onetime rivals for the nomination lined up to support him.
Tech mogul Elon Musk said Tuesday afternoon that he would be moving the headquarters of both his social media company X and SpaceX to Texas in response to a new California law signed by Gov. Gavin Newsom.
Sen. Bob Menendez tried to shift the blame to his wife, Nadine Menendez, but was found guilty on all 16 felony counts for a scheme involving bribery and business favors.
The authorization comes after a week-long voting period for the more than 6,000 Food4Less workers represented by the United Food and Commercial Workers Local union.
A string of recalls connected to Wisconsin-based supplier Schreiber Foods has now extended to Aldi stores after similar recalls at Hy-Vee and other grocery chains.
Target, looking for ways to add sales, is relaunching its Target Circle loyalty program including a new paid membership with unlimited free same-day delivery in as little as an hour for orders over $35.
When, who and how much to tip is becoming more of a question in consumers' minds.
One in four college students says they have credit card debt, according to a new survey by U.S. News and World Report. And with interest rates topping 20 percent, those students could be in debt for years. On Your Side's Kristine Lazar has more on the biggest mistakes college students are making with their credit cards.
One product contained 16 different metals, with researchers calling for rules requiring manufacturers to test tampons.
A case of H5 influenza, also known as bird flu or avian influenza, has been confirmed in a man who was working at a dairy farm in northeastern Colorado.
The CDC says it is too early to say if this year's summer COVID-19 surge has arrived.
The FDA said its study better simulated how commercial milk processing kills the bird flu virus, H5N1.
The Los Angeles County Department of Public Health announced on Monday that there was a "concerning increase" of mpox, or monkeypox, cases that have been reported in the last two weeks.
Tech mogul Elon Musk said Tuesday afternoon that he would be moving the headquarters of both his social media company X and SpaceX to Texas in response to a new California law signed by Gov. Gavin Newsom.
Gov. Newsom Saturday signed a state budget to close an estimated $46.8 billion deficit through $16 billion in spending cuts and business tax increases.
Democrat lawmakers in California have agreed to delay a minimum wage increase for about 426,000 health care workers to help balance the state budget.
The California Supreme Court has removed a measure from the state's November ballot that would have made it harder to raise taxes.
Colorado wants to welcome more celebrities and movie stars to the Front Range. The state submitted a proposal to host the Sundance Film Festival in Boulder starting in 2027.
Lindsey Harding, the coach of the year last season with the Sacramento Kings' G League affiliate, is joining JJ Redick's coaching staff with the Los Angeles Lakers, ESPN first reported Tuesday.
Bruce Bochy of the host Rangers became the first manager to win World Series titles and All-Star Games in both leagues.
Joe "Jellybean" Bryant, a former Philadelphia 76ers and La Salle University basketball great and the father of the late, NBA legend Kobe Bryant, has died. He was 69.
Los Angeles Dodgers' Teoscar Hernández won the Home Run Derby when he beat local star Bobby Witt Jr. of the Kansas City Royals 14-13 in the final round.
Forward Quinton Byfield has agreed to a five-year, $31.25 million contract extension with the Los Angeles Kings.
Nominations for the 76th annual Emmy Awards were announced Wednesday, with "Shōgun," "The Bear," "Hacks," "Only Murders in the Building" and "Baby Reindeer" all earning multiple major nods. See the full list of nominees for the 2024 ceremony here.
"Big Brother" announced Tuesday the 16 new Houseguests who will move into the "Big Brother" house and, for the first time ever, have the power to vote in a 17th houseguest.
After many people criticized Andress' rendition of the National Anthem online, comparing her with Fergie, the singer says she's going to rehab.
Shannen Doherty had been battling cancer since 2015.
Richard Simmons devoted his life to making people sweat with his "Sweatin' to the Oldies" workout videos.
Los Alamitos High's Stewart McCaleb has his sights set on navigating the waters as part of the US Sailing Team when the Olympic Games come to LA in 2028. Jaime Maggio finds out how trying out for this year's team will help the 16-year-old reach that goal next time around
The new Intuit Dome isn't just an indoor marvel. Outside the Inglewood venue, public artworks have been installed from murals to digital activations to a unique sculpture, merging the best in local sports & artistry
Councilwoman Monica Rodriguez holds news conference about junk-filled property in Sun Valley.
Actress Jodi Benson, who was the original voice for Ariel in the Little Mermaid, joins Jamie Yuccas for this week’s Java with Jamie. Benson will be performing at Disney ‘80s-‘90s Celebration in Concert at the Hollywood Bowl July 19 – 20, 2024.
Dozens of restaurants are taking part in Greater Ontario Restaurant Week 2024, and we are joined by Steve Kim and Ryan Yi, executive chefs and owners of 'The Cut' to give us a preview.
A look back at the hallowed career of the indie "B-movie" filmmaker, known for exploitation films, monster flicks, and some bizarre movie posters.
Shots from the second day of the JM Eagle LA Championship held at the Wilshire Country Club in the Palos Verdes Estates.
The Francis Scott Key Bridge in Baltimore collapsed early Tuesday, March 26 after a column was struck by a container ship that reportedly lost power, sending vehicles and people into the Patapsco River.
The Academy Awards will hand out filmmaking's top honor in 23 categories during the 2024 Oscars at the Dolby Theatre in Hollywood, starting at 7 p.m. Eastern, 4 p.m. PDT.
Shots from the PGA's Genesis Invitational golf tournament held at the Riviera Golf Club in the Pacific Palisades.