Robinhood slashes 23% of its workforce amid trading slump
CEO Vlad Tenev says soaring inflation and cryptocurrency crash is discouraging customers from trading.
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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.
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.
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.
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.
Cristian Fernando Gutierrez-Ochoa — the son-in-law of Jalisco New Generation cartel leader "El Mencho" — was arrested in Riverside, California, officials said.
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.
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.
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.
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.
Cristian Fernando Gutierrez-Ochoa — the son-in-law of Jalisco New Generation cartel leader "El Mencho" — was arrested in Riverside, California, officials said.
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.
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.
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.
On Friday, the Pittsburg and De La Salle high school football programs will meet again to decide the sectional championship.
When 13-year-old Zayan Kajani sets his mind to something, the young man from Dublin makes it happen. Lately, his mind has been on helping others.
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.
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.
Parts of Sonoma County are used to dealing with flooding concerns when heavy, prolong stretches of rain are in the forecast, like those residents who live in the area of the Russian River.
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.
On Friday, the Pittsburg and De La Salle high school football programs will meet again to decide the sectional championship.
Norman Powell scored 23 points and the Los Angeles Clippers held off the Golden State Warriors 102-99 to win their fifth in a row at home.
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.
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.
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.
Supervisors in San Mateo County are a step closer to calling for a special election to oust embattled Sheriff Christina Corpus, who has been called to resign following multiple allegations.
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.
Meteorologist Jessica Burch previews the next round of rain headed to the Bay Area.
Thursday afternoon news update from KPIX
A driver on Slusser Road south of Sonoma County Airport near Santa Rosa managed to escape a vehicle that became disabled after attempting to drive through the flooded roadway. Veronica Macias reports.
Recent retail leasing data in San Francisco shows there are opportunities to be had, especially for first-time small businesses. One of those is a Japanese-inspired takeout eatery that started in 2023 and is making its mark. Kenny Choi reports.
Thursday morning news update from KPIX
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.