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It has been a blockbuster year for investors, with the Dow Jones Industrial Average, the S&P 500 and the Nasdaq Composite all up with double-digit gains. However, the Federal Reserve battled the worst inflation in decades with several rate hikes, and 2023 marked the worst banking crisis since 2008, with three major institutions collapsing. Astrid Martinez reports.
Executives from two of three banks that recently failed are appearing in front of the Senate Banking Committee on Tuesday to respond to questions about why their banks went under and what regulators could have done to avoid the calamities.
Investors are bailing from another California lender only days after regulators arranged a shotgun marriage for First Republic.
San Francisco-based First Republic Bank plunged at the opening bell, an ongoing rout that has erased more than 50% of its value just this week on concerns about the bank's financial health in the wake of two other bank collapses.
After Silicon Valley Bank failed last month and raised fears about a wider banking crisis, bookings for last-minute business trips on United Airlines quickly dropped.
The nation's top financial regulator is asserting that Silicon Valley Bank's own management was largely to blame for the bank's failure earlier this month and says the Federal Reserve will review whether a 2018 law that weakened stricter bank rules also contributed to its collapse.
FDIC Chairman Martin Gruenberg estimated about $20 billion would be needed to cover the collapse of Silicon Valley Bank.
The treasury secretary says the plan would be set in motion if additional collapses trigger a run on banks.
The second day of an atmospheric river brought heavy rain to Northern California and the Bay Area Thursday, with the heaviest downfalls in the North Bay ahead of the storm moving south on Friday.
Downtown Petaluma is already decked out for the holidays. But something is missing: 60 strategically placed purple bins placed as part of a plan to reduce disposable cup waste.
California Gov. Gavin Newsom traveled into a part of the state that supports President-elect Donald Trump Thursday, speaking about jobs in a county that flipped from Democrat to Republican support this election cycle.
After a decade of planning, Costco in Pleasanton is set to open the day before Thanksgiving. Despite storms in the forecast, some shoppers began camping out with tents and canopies a week ahead of time.
Sevan Ikeda, a 17-year-old senior, could be the first student from California School for the Deaf in Fremont to qualify for the Cross Country State Championships three times.
The second day of an atmospheric river brought heavy rain to Northern California and the Bay Area Thursday, with the heaviest downfalls in the North Bay ahead of the storm moving south on Friday.
Downtown Petaluma is already decked out for the holidays. But something is missing: 60 strategically placed purple bins placed as part of a plan to reduce disposable cup waste.
California Gov. Gavin Newsom traveled into a part of the state that supports President-elect Donald Trump Thursday, speaking about jobs in a county that flipped from Democrat to Republican support this election cycle.
After a decade of planning, Costco in Pleasanton is set to open the day before Thanksgiving. Despite storms in the forecast, some shoppers began camping out with tents and canopies a week ahead of time.
Sevan Ikeda, a 17-year-old senior, could be the first student from California School for the Deaf in Fremont to qualify for the Cross Country State Championships three times.
An 18-year-old along with seven juveniles, one as young as 12-years-old, have been arrested in connection with more than 20 retail thefts, San Francisco police announced Thursday.
A 44-year-old man was found guilty of sexually abusing a minor in 2021, according to San Francisco prosecutors.
A big rig jackknifed on the lower deck of the San Francisco-Oakland Bay Bridge early Thursday morning, snarling eastbound traffic out of the city for hours.
In Pacifica, like other spots along the coast, the potentially dangerous surf conditions are more of an issue than the rain.
The controversial center bike lane on Valencia Street that divided business owners and cyclists is moving back to the curb.
After a decade of planning, Costco in Pleasanton is set to open the day before Thanksgiving. Despite storms in the forecast, some shoppers began camping out with tents and canopies a week ahead of time.
Sevan Ikeda, a 17-year-old senior, could be the first student from California School for the Deaf in Fremont to qualify for the Cross Country State Championships three times.
Three people were arrested in Livermore on Tuesday night for allegedly stealing nearly $9,000 worth of grocery products, according to police.
The city of Berkeley averted a two-day strike that was set to begin Wednesday after reaching a tentative contract agreement with one of its largest unions.
The Oakland City Council was presented with a report Tuesday detailing a dire budget predicament that will likely result in millions of dollars in additional cuts to services.
In Pacifica, like other spots along the coast, the potentially dangerous surf conditions are more of an issue than the rain.
Police in the South Bay have made an arrest after a man was found fatally shot in Morgan Hill on Wednesday morning.
Eataly, the gourmet Italian marketplace blending restaurants, cafes, and specialty products, offers an immersive experience designed to transport visitors straight to Italy.
A Mountain View barber accused in multiple sexual assaults in which the victims were unconscious has fled from prosecution and is now a fugitive, authorities said Wednesday.
Police in San Jose are investigating a hit-and-run Monday night in which a driver fatally struck a man who had been clearing a tree branch on the road.
Downtown Petaluma is already decked out for the holidays. But something is missing: 60 strategically placed purple bins placed as part of a plan to reduce disposable cup waste.
Authorities in Sonoma County have identified the person killed when a boat capsized near Bodega Bay on Monday, one of a series of recent fatal incidents in the area this month.
With the rainy season beginning, researchers are looking at how much water will be captured.
In Santa Rosa, a steady rain fell all day Wednesday leading to some localized flooding and road closure plus flood watches and flood advisories.
Mill Valley residents are preparing in advance for the storm that will hit the North Bay.
Sevan Ikeda, a 17-year-old senior, could be the first student from California School for the Deaf in Fremont to qualify for the Cross Country State Championships three times.
Former Golden State Warriors basketball executive Bob Myers was appointed to the University of California Board of Regents on Thursday, UC officials announced.
The Green Bay Packers have lost to San Francisco in the playoffs three times in the last five seasons and wouldn't mind seeing the 49ers miss the postseason entirely.
Andrew Wiggins scored 27 points, Stephen Curry added 23 points and eight assists, and the Golden State Warriors beat the Atlanta Hawks 120-97.
The San Francisco 49ers are expecting to get star tight end George Kittle back this week for a key game against Green Bay but are uncertain whether top pass rusher Nick Bosa will be able to play.
An 18-year-old along with seven juveniles, one as young as 12-years-old, have been arrested in connection with more than 20 retail thefts, San Francisco police announced Thursday.
Cristian Fernando Gutierrez-Ochoa — the son-in-law of Jalisco New Generation cartel leader "El Mencho" — was arrested in Riverside, California, officials said.
Three people were arrested in Livermore on Tuesday night for allegedly stealing nearly $9,000 worth of grocery products, according to police.
A 44-year-old man was found guilty of sexually abusing a minor in 2021, according to San Francisco prosecutors.
Authorities in Marin County arrested a man Wednesday who allegedly stole thousands in jewelry and other items from open houses, while posing as a real estate agent.
Reddit says it's investigating after users on Wednesday reported problems connecting to the online forum.
A study found that Elon Musk is the most common celebrity used in deepfake scams.
Autonomous vehicle company Cruise LLC agreed to a $500,000 fine Thursday after admitting to a false report following a crash last year in which one of its vehicles dragged a pedestrian in San Francisco.
In an online conversation about aging adults, Google's Gemini AI chatbot responded with a threatening message, telling the user to "please die."
The new Stanford Robotics Center, which will be developing machines for future use in medicine, the arts, ocean and space exploration and your own home, recently opened its doors for the first time.
The FDA sent a warning letter flagging "significant violations" of manufacturing regulations for Tom's of Maine toothpaste.
Officials with the California Department of Public Health (CDPH) said they have identified a possible bird flu case in a child in Alameda County.
The first case in the U.S. of a more severe strain of mpox was reported in San Mateo County, the California Department of Public Health said.
The 65-year-old actor and stand-up comedian, best known for portraying Joey Gladstone on "Full House," said he first noticed symptoms in October.
The power of music is comforting patients undergoing palliative care, helping them and their loved ones through an extremely emotional and difficult time.
California Gov. Gavin Newsom traveled into a part of the state that supports President-elect Donald Trump Thursday, speaking about jobs in a county that flipped from Democrat to Republican support this election cycle.
President-elect Donald Trump made the announcement Thursday evening after Matt Gaetz withdrew himself from consideration.
President-elect Donald Trump announced Gaetz as his nominee to be attorney general last week.
A pro-Palestinian protest at Travis Air Force Base in Fairfield resulted in the arrest of dozens of people demonstrating against Israel's war in Gaza and the U.S. military's support.
The city of Berkeley averted a two-day strike that was set to begin Wednesday after reaching a tentative contract agreement with one of its largest unions.
In many Indigenous cultures across the Americas, gender is recognized as fluid, contrasting sharply with Western norms. Jose Martinez reports.
In many Indigenous cultures across the Americas, gender is recognized as fluid, contrasting sharply with Western norms.
As San Jose State University women's volleyball team gears up for their final games of the regular season, a new lawsuit is challenging their post-season eligibility.
Festivities began Friday for Dia de los Muertos -- or Day of the Dead, with those who celebrate preparing altars to honor family members who have passed.
A jury in Santa Clara County on Wednesday convicted a Milpitas man of murder for killing his transgender partner in 2021, prosecutors said.
CBS News' Anthony Mason joins Paul Simon on a trip to the Stanford Initiative to Cure Hearing Loss, to explore how researchers are getting closer to finding answers about repairing and preventing hearing loss.
One of the seminal modern jazz-funk bands to emerge during the early '90s "rare groove" revival, fiery quintet the Greyboy Allstars bring their potent grooves to the Bay Area for three shows starting Thursday.
San Francisco welcomes the return of the Sun Ra Arkestra, presenting the interstellar sounds of the late bandleader's sprawling Afrofuturist ensemble for three nights at the Great American Music Hall starting Friday.
Anchored by the McDonald brothers Steven and Jeff for 45 years, Redd Kross brings its mix of punk energy and pop hooks to the Chapel Sunday night, showcasing songs from their acclaimed new self-titled album.
The much-hyped fight pitting the 58-year-old Tyson against Paul, 27, shattered records but was marred by tech glitches.
Ever since the COVID-19 pandemic, the Oakland Unified School District has seen an alarming spike in the number of unhoused students in the school system who deal with a host of challenges far beyond what most children face.
Meteorologist and CBS News Bay Area's resident pilot Lt. Jessica Burch got a treat during Fleet Week, taking to the skies with one of the Blue Angels.
A Bay Area man discovered his devastating loss left him with a new opportunity to rethink how he lives -- follow his journey in virtual reality, 360-degree video.
A groundbreaking medical study involving the UCSF Medical Center has shown some colorectal cancer patients can safely skip radiation treatment and enjoy a potentially higher quality of life.
Every day, San Francisco bar pilot Captain Zach Kellerman goes through what might just be the world's most dangerous commute.
Downtown Petaluma is already decked out for the holidays. But something is missing: 60 strategically placed purple bins placed as part of a plan to reduce disposable cup waste.
CBS News Bay Area evening headlines for Thursday, Nov. 21, 2024. Watch full newscasts streamed at the CBS SF website or on the app.
Thursday was the final day of testimony in the trial of Nima Momeni, who is accused of murdering Cash App founder Bob Lee. Lauren Toms reports.
After a decade of planning, Costco in Pleasanton is set to open the day before Thanksgiving. Despite storms in the forecast, some shoppers began camping out with tents and canopies a week ahead of time. Juliette Goodrich reports.
Sevan Ikeda, a 17-year-old senior, could be the first student from California School for the Deaf in Fremont to qualify for the Cross Country State Championships three times.
This week's Jefferson Award winner is Army veteran who continues to live a life of service into his 80s, by feeding hundreds of San Francisco families a week.
An Oakland woman has brought the joy of dance and an appreciation for African American culture to performers and audiences for 52 years.
This week's Jefferson Award winner is a Berkeley woman who has promoted child literacy for four decades, as host of a community TV show encouraging young poets.
With hate crimes on the rise in the U.S., a pair of Oakland women have been equipping people with self-defense tools for free.
If a picture is worth a thousand words, what are two million photos worth? A history of Asian Americans in the Bay Area, for this week's Jefferson Award winner.
A Bay Area man who overcame tremendous obstacles to excel in school has made it his mission to gear up other students for success in the classroom and in life.
For Students Rising Above scholar Josh Collins it took moving across the country to realize the value of his Bay Area family.
Samir Hooker had to grow up fast after his stepfather was shot dead 12 years ago. Now he is watching over his mom and sister while attending UC Berkeley.
It's hard enough to graduate from one of the most prestigious schools in the country when you're the first in your family to go to college. Imagine doing that while you're also trying to protect your parents from being deported?
Some students who are the first in their families to go to college face the challenge of balancing a rigorous academic load while still working to help support their family back home.