Robinhood slashes 23% of its workforce amid trading slump
CEO Vlad Tenev says soaring inflation and cryptocurrency crash is discouraging customers from trading.
Watch CBS News
CEO Vlad Tenev says soaring inflation and cryptocurrency crash is discouraging customers from trading.
Investors are monitoring economic data for clues on inflation trajectory, with eye on Friday release of June employment numbers.
Rising prices on everything from gas to food and stock market woes have many families wondering what to do during times like these.
Stocks are in a bear market and inflation is at a 40-year high. Kenny Choi has tips to protect your self and manage your family's finances in these volatile times.
Most stocks on Wall Street dipped Tuesday in their first trading after tumbling into a bear market on worries that high inflation will push central banks to clamp the brakes too hard on the economy.
It wasn't just traditional markets that took a bath on Monday, the emerging crypto markets also went underwater to the tune of $200 billion.
It wasn't just traditional markets that took a bath on Monday, the emerging crypto markets also went underwater to the tune of $200 billion. Andria Borba reports. (6/13/22)
Stocks in the U.S. plunged Monday as investors digested a report last week showing that inflation in May surged at its fastest pace in four decades.
Tesla shares are about to get three times less expensive.
May surge in consumer prices raises odds that the Fed will continue to sharply hike interest rates.
S&P 500 suffers biggest one-day drop since 2020 as "stagflation" fears fuel concern about of a U.S. downturn.
In the three days after Elon Musk engineered a deal to buy Twitter, he sold roughly $8.5 billion worth of shares in Tesla.
Facebook's parent company Meta had a lackluster day on Wall Street Friday, one day after setting a record for the largest one-day value drop in stock market history.
U.S. stocks plunged in early trading Monday as investors fretted over mounting inflation and geopolitical tensions, before making up that ground in afternoon trading as financial markets whipsawed.
Now that the Omicron variant of the COVID virus has been detected in San Francisco, here's what you need to know.
Elon Musk, the world's wealthiest person, sold almost $7 billion dollars worth of Tesla stock in the past week, driving down the share price.
Wall Street gave Robinhood a cool reception Thursday in the online broker's debut in the stock market that it helped reshape by bringing millions of new investors.
Does the huge drop in the Dow Jones and other indices mark the end of a historic run that dates back to the pandemic's early days?
Robinhood, the Silicon Valley-based online brokerage that found itself embroiled in this year's meme stock phenomenon, will go public seeking a market valuation of up to $35 billion.
San Francisco-based Coinbase made a rousing debut on Wall Street Wednesday, with shares of the digital currency exchange rising as high as $429, briefly giving it a market value over $100 billion.
The filing, which Robinhood confirmed in a brief statement Tuesday afternoon, demonstrates how confident the company is in its growth prospects even after a disastrous few months.
Thursday was another rollercoaster day for GameStop with the company's stock dropping a whopping 44 percent as small online investors ran into a roadblock in their trading war with Wall Street short-sellers.
The stock market has enjoyed unprecedented gains during the pandemic, with the strange, meteoric rise of GameStop among the highlights.
The stock market has enjoyed a historic rise, despite the pandemic and political upheaval, and looks poised to continue growing through 2021 and beyond.
Airbnb shares more than doubled in price as the home sharing company made its debut Thursday on the Nasdaq stock exchange.
Declining enrollment is affecting almost all schools, but for a San Jose school district, it could lead to nearly half its campuses closing or consolidating.
More changes could be coming to the Oakland Unified School District as they continue to try and find ways to balance their budget.
Police in Antioch have arrested a man suspected of carjacking and kidnapping after he led officers on a pursuit Wednesday morning.
Investigators accused four suspects of staging bear attacks using a costume to damage vehicles in a San Bernardino County mountain community in order to receive payouts totaling more than $140,000.
A person was found shot dead on a sidewalk in front of a home in Oakland Wednesday afternoon, police said.
Declining enrollment is affecting almost all schools, but for a San Jose school district, it could lead to nearly half its campuses closing or consolidating.
More changes could be coming to the Oakland Unified School District as they continue to try and find ways to balance their budget.
Police in Antioch have arrested a man suspected of carjacking and kidnapping after he led officers on a pursuit Wednesday morning.
Investigators accused four suspects of staging bear attacks using a costume to damage vehicles in a San Bernardino County mountain community in order to receive payouts totaling more than $140,000.
A person was found shot dead on a sidewalk in front of a home in Oakland Wednesday afternoon, police said.
The Contemporary Jewish Museum in San Francisco announced Wednesday that they will close their galleries for at least one year, citing financial difficulties.
Nima Momeni, the man accused in the fatal stabbing of tech executive Bob Lee, testified that Lee attacked him after getting angry about "a bad joke" at his murder trial Wednesday.
A person was killed on Market Street outside the Embarcadero BART station in San Francisco Wednesday morning and the search for the suspect caused significant delays on the BART system.
Defense attorneys for Nima Momeni — the man accused of fatally stabbing tech executive Bob Lee – called a medical expert to the witness stand Tuesday who testified that it is possible that their theory of self-defense could be true.
Klay Thompson exited the team bus then beamed as he strolled back into Chase Center, greeted by some 400 cheering Warriors employees showing their love and appreciation for the former Golden State star and lined up lined up along his path to the Dallas locker room.
More changes could be coming to the Oakland Unified School District as they continue to try and find ways to balance their budget.
Police in Antioch have arrested a man suspected of carjacking and kidnapping after he led officers on a pursuit Wednesday morning.
A person was found shot dead on a sidewalk in front of a home in Oakland Wednesday afternoon, police said.
Nine Alameda County sheriff's deputies and a pair of civilian Santa Rita Jail employees are facing charges related to the 2021 death of inmate Maurice Monk.
Police in Oakley are investigating an incident Wednesday morning where a child accidentally brought his father's backpack containing a firearm to Gehringer Elementary School, authorities said.
Declining enrollment is affecting almost all schools, but for a San Jose school district, it could lead to nearly half its campuses closing or consolidating.
The California Highway Patrol is investigating a hit-and-run collision that killed a man walking his dog in unincorporated Live Oak in Santa Cruz County early Wednesday morning.
A man was found dead Tuesday night near Interstate Highway 280 in San Jose, according to the California Highway Patrol.
Water managers in the South Bay entered into a deal that will add a huge amount to their storage by expanding the San Luis Reservoir in Merced County.
A Monterey County man was found guilty of eight felony counts related to the rape of and molestation of two girls who were minors when the abuse began.
Falling in line with new state requirements that go into effect in 2026, the Napa County Board of Supervisors passed an ordinance Tuesday to ban single-use plastic bags and foodware.
Police in Fairfield have announced the results of a monthslong crackdown on cannabis grow houses in the community, saying more than 8,000 plants have been seized.
Authorities in Sonoma County on Monday confirmed the arrest of a suspect in a deadly shooting near a bar located on Lakeville Highway in Petaluma over the weekend.
Gov. Gavin Newsom announced on Veterans Day that he has begun the process of granting a posthumous pardon for the only Petaluma native awarded the Medal of Honor during the Vietnam War.
Authorities in the North Bay town of Windsor are investigating after reports of a man walking through a neighborhood firing rounds from a semi-automatic rifle early Saturday.
Stephen Curry drove past Luka Doncic for a go-ahead layup with 1:50 left before Donic missed a 13-footer in the key and Curry connected for a 3-pointer moments later, scoring 37 points as the Golden State Warriors beat the Dallas Mavericks 120-117.
Klay Thompson exited the team bus then beamed as he strolled back into Chase Center, greeted by some 400 cheering Warriors employees showing their love and appreciation for the former Golden State star and lined up lined up along his path to the Dallas locker room.
San Francisco 49ers coach Kyle Shanahan called a sideline spat involving star receiver Deebo Samuel and two teammates an "overreaction" and said the team has put it to rest.
John Robinson, known for leading the USC football team to a national title in 1978, has died at 89 years old.
Klay Thompson will return to the Bay Area to face his former team for the first time since leaving Golden State to join the Dallas Mavericks on a three-year, $50 million contract.
Police in Antioch have arrested a man suspected of carjacking and kidnapping after he led officers on a pursuit Wednesday morning.
A person was found shot dead on a sidewalk in front of a home in Oakland Wednesday afternoon, police said.
Nine Alameda County sheriff's deputies and a pair of civilian Santa Rita Jail employees are facing charges related to the 2021 death of inmate Maurice Monk.
Police in Oakley are investigating an incident Wednesday morning where a child accidentally brought his father's backpack containing a firearm to Gehringer Elementary School, authorities said.
Nima Momeni, the man accused in the fatal stabbing of tech executive Bob Lee, testified that Lee attacked him after getting angry about "a bad joke" at his murder trial Wednesday.
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 app crashed the same day Starbucks introduced its holiday menu, preventing customers from placing mobile orders.
"Social media is doing harm to our kids and I'm calling time on it," says Australian Prime Minister Anthony Albanse.
A who's who of SF politics gathered to celebrate a $55 million grant awarded by the EPA to the city to help complete a high-speed zero-emission ferry network.
Apple snapped out of a recent iPhone sales slump during its summertime quarter.
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.
Robert F. Kennedy Jr. has vowed to combat "the chronic disease epidemic in this country" in the Trump administration, with the slogan "Make America Healthy Aagain."
The packaging label omitted a key ingredient, prompting a Food and Drug Administration recall.
The FDA says oral phenylephrine, used in many over-the-counter cough and cold medicines, "is not effective as a nasal decongestant."
More changes could be coming to the Oakland Unified School District as they continue to try and find ways to balance their budget.
House Speaker Mike Johnson said Matt Gaetz, whose selection as attorney general prompted backlash, resigned from Congress.
Tulsi Gabbard represented Hawaii as a Democrat in the U.S. House from 2013 to 2021.
President Biden and President-elect Donald Trump both promised a "smooth" transition.
Sen. John Thune of South Dakota won on the second round of voting against Sen. John Cornyn of Texas in the race for Senate Republican leader.
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.
On Tuesday, the battle for LGBT rights took a new turn when the Pentagon announced that it was proactively changing the discharge status to "honorable" for hundreds of service members expelled for being gay during the "don't ask, don't tell" era.
John Ramos reports on the Pentagon announcing it will change the discharge status to "honorable" for hundreds expelled during "don't ask, don't tell" era.
An honorable discharge status unlocks access to critical benefits that some veterans may have been missing out on for decades.
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.
Beloved NYC power-pop band the dB's bring their first tour in 12 years to San Francisco Thursday, with the quartet's original line-up playing songs from its first two albums at the Chapel.
Marking its 32st year in 2025, the annual Noise Pop Festival on Tuesday announced its first round of artists performing when it kicks off February 20, including American Football, Soccer Mommy and more.
Twisted Black Sabbath parody/tribute outfit Mac Sabbath brings its current tour to Santa Cruz and San Francisco starting Thursday night with support from punk/metal veterans the Supersuckers.
Mattel apologizes for inadvertently directing people to pornography site instead of one promoting upcoming film.
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.
CBS News Bay Area evening edition headlines for Nov. 13, 2024. Watch full newscasts streamed at the CBS SF website or on the app.
John Ramos reports on school closures in the Bay Area. Website: http://kpix.com/ YouTube: http://www.youtube.com/CBSSanFrancisco Facebook: https://www.facebook.com/CBSSanFrancisco Instagram: https://www.instagram.com/kpixtv/ Twitter: https://twitter.com/KPIXtv
Kara St. Cyr reports on a judge stopping new Alameda marina owners from large rent hikes for houseboats.
Lauren Toms reports on defendant Nima Momeni taking the stand in the murder trial of Bob Lee. Read more: https://www.cbsnews.com/sanfrancisco/news/bob-lee-murder-trial-nima-momeni-testifies-cash-app/
Wilson Walker reports on the ongoing dispute between the San Mateo County Board of Supervisors and the sheriff. Website: http://kpix.com/ YouTube: http://www.youtube.com/CBSSanFrancisco Facebook: https://www.facebook.com/CBSSanFrancisco Instagram: https://www.instagram.com/kpixtv/ Twitter: https://twitter.com/KPIXtv
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.
While stroke rehabilitation is often a difficult road, a South Bay couple is providing local patients some valuable support.
For nearly 50 years, a Vietnam veteran from San Francisco has served as a national champion for military veterans.
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.