Citigroup to cut 20,000 jobs by 2026 following latest financial losses
The cuts come shortly after Citi laid off 10% of its senior staff as part of a restructuring effort aimed at boosting its earnings.
Silicon Valley Bank
2023 a mixed bag for Wall Street, U.S. economy
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.
Senate weighs bill to strip failed bank executives of pay
Bipartisan proposal would fine executives up to $3 million and claw back two years' worth of their compensation.
Regional bank stocks lead market decline
The Dow Jones fell more than 200 points Thursday as regional bank stocks plummeted. Wall Street Journal banking and finance reporter Ben Eisen spoke with CBS News' Lana Zak and Errol Barnett about what the development means for investors.
Bank woes mount as investors bail from regional lenders
On Wall Street, a string of banking industry failures is casting a cloud over midsize lenders such as PacWest and Western Alliance
Fed indicates pause after latest rate hike
Stocks fell Wednesday after the Federal Reserve raised U.S. interest rates by a quarter of a percentage point. Wall Street Journal economics reporter Harriet Torry spoke with CBS News about how the increase impacts investors and consumers.
What the First Republic Bank takeover means
JPMorgan Chase is taking over First Republic Bank after it was seized by federal regulators. It marks the third American bank failure in the past two months. Rachel Ensign, a reporter for The Wall Street Journal, joins CBS News with more.
JPMorgan Chase takeover of First Republic
California regulators have seized control of struggling First Republic Bank. The FDIC accepted a bid from JPMorgan Chase to assume First Republic's deposits and virtually all of its assets. Javier David, CBS News contributor and managing editor for business and markets at Axios, joined Anne-Marie Green and Vladimir Duthiers to discuss this latest major bank failure.
Jill Schlesinger on First Republic Bank
CBS News business analyst Jill Schlesinger discusses the decline and fate of First Republic Bank and the Federal Reserve's report of what went wrong with Silicon Valley Bank.
Gary Cohn on First Republic's likely sale
Gary Cohn, the former top economic adviser in the Trump White House and who is now vice chairman of IBM, tells "Face the Nation" that he believes the impending sale of troubled bank First Republic "will be a much faster process" than what happened with Silicon Valley Bank. But he says this is a "seismic moment" for the American people and whether they trust their banks.
Rep. Ro Khanna says there was "mismanagement" at SVB
Rep. Ro Khanna, who had received campaign contributions from Silicon Valley Bank CEO Greg Becker, who also served on the board of the San Francisco Fed, said "obviously there was mismanagement" at the failed bank. The California Democrat tells "Face the Nation" that in the future, bank executives should be barred from serving on the board of regional Federal Reserve Banks.
4/30: Face The Nation
This week on "Face the Nation," Republican Reps. Nancy Mace and Tony Gonazles and Democratic Rep. Ro Khanna join Margaret Brennan.
Feds poised to take control of First Republic Bank
The FDIC could soon seize control of First Republic Bank, which has seen its stock value plunge since the collapse of Silicon Valley Bank last month. Willie James Inman has the latest.
Federal Reserve releases SVB failure report
The Federal Reserve released a report on the circumstances surrounding the collapse of Silicon Valley Bank. CBS News' Nikki Battiste and Elaine Quijano speak with reporter Sarah Ewall-Wice about what investigators found.
Fed report blames SVB execs — and itself — for bank's failure
Autopsy says central bank didn't appreciate "seriousness of critical deficiencies" in SVB's governance, contributing to the failure.
Market concern on bank earnings, debt ceiling
The Dow Jones closed in the red Wednesday as investors reacted to earnings reports and falling shares of First Republic Bank. Axios markets correspondent Emily Peck joined CBS News to discuss what this means for investors and the economy.
Big banks report strong earnings in Q1
Several major banks are seeing growth with the release of their first quarter earnings. The positive news comes a month after the collapse of Silicon Valley bank and Signature Bank. Jacob Sonenshine is a markets reporter at Barron's. He joins CBS News for more.
Jamie Dimon: Banking crisis "not yet over"
In a letter to shareholders, JPMorgan Chase CEO Jamie Dimon said the recent banking crisis is "not yet over." Axios senior business reporter Hope King joined CBS News' Vladimir Duthiers and Shanelle Kaul to discuss Dimon's remarks, if consumers should be concerned about their money and how the current banking concerns differ from 2008.
JPMorgan CEO Jamie Dimon says banking crisis is "not yet over"
Collapse of Silicon Valley Bank and other lenders will reverberate "for years to come," top banking executive says.
Silicon Valley Bank may have ignored warnings
Executives' decisions may have foreshadowed Silicon Valley Bank's downfall, new Washington Post reporting shows. Daniel Gilbert, who reports on the business of medicine for the Washington Post, joined Vladimir Duthiers and Anne-Marie Green to discuss the details.
Biden calls for more banking regulations
The stock market closed higher Thursday as President Biden called for increased oversight into banking regulations. New Constructs CEO David Trainer joined CBS News to break down investors' reactions.
Stocks close higher as banking fears ease
The stock market closed higher Wednesday, following the second day of congressional hearings on the Silicon Valley Bank collapse. Dory Wiley, the president and CEO of Commerce Street Holdings, joined CBS News to discuss what the hearings mean for investors.
Bill would require clawback of compensation from executives of failed banks
The legislation from a bipartisan group of senators would require regulators to claw back all or part of the compensation bank executives got in the five years leading up to a bank's failure.
Senators grill regulators on bank failures
In a hearing Tuesday, Senate lawmakers scrutinized top federal regulators on the downfalls of Silicon Valley Bank and Signature Bank, and concerns over a lack of oversight. CBS News congressional correspondent Scott MacFarlane joined John Dickerson to discuss the hearing.
Senate committee holds hearing on banking crisis
Key regulators testified before lawmakers Tuesday on the state of the U.S. banking system. CBS News congressional correspondent Scott MacFarlane discusses the hearing.
Trump official admits "administrative error" in deporting man to El Salvador
Top ICE official calls removal of Kilmar Abrego Garcia on deportation flight that sent him to a supermax prison in El Salvador an "administrative error."
Wisconsin Supreme Court race draws national attention — and money
The most expensive judicial election in American history comes to an end Tuesday evening in Wisconsin.
DOJ to seek death penalty in Luigi Mangione case
AG Pam Bondi directed federal prosecutors to pursue the death penalty against Luigi Mangione, the UnitedHealthcare CEO murder suspect.
Watch Live: Booker delivering marathon speech on Senate floor
Democratic Sen. Cory Booker of New Jersey began speaking around 7 p.m. on Monday and said he would continue speaking "for as long as I am physically able."
Special elections in Florida pose key test for GOP
The Florida contests, along with an election for Wisconsin Supreme Court also being held on Tuesday, mark the first elections since Mr. Trump returned to office.
Reported fight in control tower at Reagan airport investigated, man arrested
A man, identified as an air traffic controller by government payroll records, was arrested after police were called to the DCA tower because of a fight.
Bid to strip Planned Parenthood of Medicaid funds faces Supreme Court
South Carolina in 2018 moved to terminate a Planned Parenthood affiliate's participation in its state Medicaid program.
Layoffs start at federal agencies that deal with health, drugs, food, more
Employees of the massive U.S. Department of Health and Human Services began getting dismissal notices in a major overhaul expected to ultimately lay off up to 10,000 people.
Senate GOP to move ahead on plan to unlock Trump tax cuts, border agenda this week
Senate Republicans are preparing to move forward with a budget plan that will enable them to implement President Trump's agenda, eyeing a vote later this week.
U.S.
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Bid to strip Planned Parenthood of Medicaid funds faces Supreme Court
South Carolina in 2018 moved to terminate a Planned Parenthood affiliate's participation in its state Medicaid program.
DOJ to seek death penalty against Luigi Mangione, AG Bondi says
AG Pam Bondi directed federal prosecutors to pursue the death penalty against Luigi Mangione, the UnitedHealthcare CEO murder suspect.
Trump official admits "administrative error" in deporting man to El Salvador
Top ICE official calls removal of Kilmar Abrego Garcia on deportation flight that sent him to a supermax prison in El Salvador an "administrative error."
Reported fight in control tower at Reagan airport investigated, man arrested
A man, identified as an air traffic controller by government payroll records, was arrested after police were called to the DCA tower because of a fight.
Stocks tumble as Wall Street braces for Trump's April 2 tariffs
Investors are concerned about President Trump's plans to roll out new tariffs on April 2, which economists say could reignite inflation.
MoneyWatch
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Stocks tumble as Wall Street braces for Trump's April 2 tariffs
Investors are concerned about President Trump's plans to roll out new tariffs on April 2, which economists say could reignite inflation.
Hooters files for bankruptcy but says it's "here to stay"
Hooters, the U.S.-based restaurant chain known for chicken wings and "Hooters Girls" skimpy wait-staff outfits, has filed for bankruptcy protection.
Ahead of Trump's auto tariffs, are U.S. consumers rushing to buy cars?
Some people in the market for a new vehicle are rushing to claim models on lots, as current inventory is not subject to tariff price hikes.
Conservative channel Newsmax surges over 700% in stock market debut
Newsmax's share price soared when it started trading Monday on the New York Stock Exchange under the ticker "NMAX."
Some Egg Beaters and Bob Evans egg substitutes recalled due to bleach
Some Egg Beaters and Bob Evans egg products have been recalled because they may include a cleaning solution, USDA says.
Politics
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Trump's nominee for top U.S. general says he never wore a MAGA hat
Lt. Gen. Dan Caine told senators in his confirmation hearing on Tuesday that he believes President Trump was speaking about someone else when telling stories of Caine's loyalty.
Bid to strip Planned Parenthood of Medicaid funds faces Supreme Court
South Carolina in 2018 moved to terminate a Planned Parenthood affiliate's participation in its state Medicaid program.
Trump official admits "administrative error" in deporting man to El Salvador
Top ICE official calls removal of Kilmar Abrego Garcia on deportation flight that sent him to a supermax prison in El Salvador an "administrative error."
Senate GOP to move ahead on plan to unlock Trump tax cuts, border agenda this week
Senate Republicans are preparing to move forward with a budget plan that will enable them to implement President Trump's agenda, eyeing a vote later this week.
Watch Live: Booker delivering marathon speech on Senate floor
Democratic Sen. Cory Booker of New Jersey began speaking around 7 p.m. on Monday and said he would continue speaking "for as long as I am physically able."
HealthWatch
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Trump says he'll stop health care fraudsters. Last time, he let them walk.
In his first term, President Trump granted pardons or clemency to more than 60 convicted fraudsters, including some involved in health care schemes with astonishing costs.
RFK Jr.'s layoffs expected to gut worker safety agency, officials say
More than 800 employees at the National Institute of Occupational Safety and Health are expected to be cut.
Some Egg Beaters and Bob Evans egg substitutes recalled due to bleach
Some Egg Beaters and Bob Evans egg products have been recalled because they may include a cleaning solution, USDA says.
Mom of twins fights to protect infants amid measles outbreak
Measles cases in the U.S., which have soared to nearly 500 infections this year, have created concerns for parents with children who are too young to be vaccinated.
Sickest patients face insurance denials: "They won't help me"
Republicans and Democrats agree prior authorization needs fixing, but patients are growing impatient.
World
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Investigation reveals grim details of infamous cartel's operations
One recruit who reportedly survived the Jalisco cartel ranch said those who refused or tried to escape were beaten, tortured and killed.
Lost Loch Ness Monster camera accidentally found by Boaty McBoatface
The camera, which has been underwater for 55 years, was part of the Loch Ness Investigation Bureau's first attempt at underwater photography.
Boxer dies after collapsing during light heavyweight fight
Nigerian boxer Gabriel Oluwasegun Olanrewaju was pronounced dead after losing consciousness during a fight in Accra, Ghana, boxing officials said.
Icelandic volcano erupts, shutting down popular tourist attraction
Authorities in Iceland were forced by a new volcanic eruption to evacuate dozens of homes and shut down the hugely popular Blue Lagoon tourist attraction.
Myanmar official says earthquake death toll likely to exceed 3,000
Remarkable rescue stories from Myanmar's earthquake ruins are keeping hope alive, but aid agencies say time is running out fast, and the need for help is vast.
Entertainment
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Román Zaragoza on his "Ghosts" character's love life
Actor Román Zaragoza spoke to "CBS Mornings" about hope for his character's struggling love life in the CBS comedy, "Ghosts."
Magician David Kwong on April Fools' Day tips
Magician and puzzle master David Kwong joins "CBS Mornings Plus" to talk about his new children's book, "How to Fool Your Parents," which teaches over two dozen magic tricks, just in time for April Fools' Day.
Roman Zaragoza on "Ghosts"
Actor Roman Zaragoza joins "CBS Mornings" to talk about his role as Sass on the hit CBS comedy "Ghosts," and how a returning character could stir up his love life.
Mo Amer turns pain into punchlines
Comedian Mo Amer, known for his award-winning show "Mo" and his Netflix special "Mohammed in Texas," reflects on turning his experience as a Palestinian-American refugee into powerful, personal comedy. He speaks with CBS Mornings at The Improv about family, displacement, and why laughter is necessary
Jordan Davis unveils "Bar None"
Jordan Davis, the country star behind eight No. 1 hits, joins "CBS Mornings Plus" to share a first look at his latest single and reveal a big announcement following recent CMA and ACM wins.
Technology
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Technology
Growing demand to power AI, cryptocurrency
As cryptocurrency and artificial intelligence advancements are made, U.S. demand for the energy needed to power massive mining and data centers grows. David Turk, former deputy secretary of the U.S. Department of Energy, joins "The Daily Report" to discuss how much energy the U.S. needs and the potential environmental impacts.
Waltz's Venmo showed his contacts — even after bombshell report on Signal chat
White House chief of staff Susie Wiles was among the contacts listed in Waltz's Venmo account.
How AI powered robots are helping small farms
From labor shortages to environmental impacts, farmers are looking to AI to help revolutionize the agriculture industry. One California startup, Farm-ng, is tapping into the power of AI and robotics to perform a wide range of tasks, including seeding, weeding and harvesting.
Lawsuit against OpenAI over newspaper copyright can proceed, judge rules
Several newspapers have sued OpenAI and Microsoft, seeking to end the practice of using their stories to train artificial intelligence chatbots.
What is Signal, the app used by Trump's team
The Senate Intelligence Committee heard testimony on Tuesday from key players involved in a group chat on the messaging app Signal, in which the U.S.'s highly sensitive plans to bomb Houthi targets in Yemen were discussed inadvertently with a journalist. President Trump said that his administration would investigate the government's use of Signal. CBS News contributor and former CIA official Andrew Boyd has more on what it is and how it's used.
Science
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Science
Astronauts on unexpected 9-month space mission
Originally scheduled for just 8 days aboard the International Space Station, the two astronauts spent over 9 months in orbit due to delays with their Boeing Starliner return. Now back on Earth, they share how they coped, what they missed most, and how the mission unexpectedly became political.
Icelandic volcano erupts, shutting down popular tourist attraction
Authorities in Iceland were forced by a new volcanic eruption to evacuate dozens of homes and shut down the hugely popular Blue Lagoon tourist attraction.
SpaceX's Fram2 launch sends civilian crew into flight around Earth's poles
The international all-civilian Fram2 crew is the first in space history to fly to orbit with no licensed pilot or trained astronaut on board.
Ancient wasp snatched prey like Venus flytrap, scientists say
"I've seen a lot of strange insects, but this has to be one of the most peculiar-looking ones I've seen in a while," said one entomologist.
Millions of bees have died this year: "Worst bee loss in recorded history"
Bees play a key role in the U.S. food supply, and the mass deaths could jeopardize that.
Crime
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Crime
DOJ seeks death penalty in Mangione case
Attorney General Pam Bondi says the Department of Justice will seek the death penalty in the case against Luigi Mangione for the murder of UnitedHealthcare CEO Brian Thompson in New York City. CBS News' Shanelle Kaul reports.
DOJ to seek death penalty against Luigi Mangione, AG Bondi says
AG Pam Bondi directed federal prosecutors to pursue the death penalty against Luigi Mangione, the UnitedHealthcare CEO murder suspect.
Investigation reveals grim details of infamous cartel's operations
One recruit who reportedly survived the Jalisco cartel ranch said those who refused or tried to escape were beaten, tortured and killed.
Karen Read facing new trial for murder
A new trial is underway in the case surrounding Boston police officer John O'Keefe's death. Karen Read, O'Keefe's former girlfriend, is facing second-degree murder and other charges after her first court case ended in a mistrial in 2024. CBS News' Katrina Kaufman has more.
Carlos Lehder, cartel boss and Pablo Escobar's partner, freed in Colombia
Carolos Lehder, who served over 30 years in a U.S. prison, once owned a luxurious hotel, which had caged lions and a large statue of John Lennon.
Space
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Space
Wilmore, Williams on space stay
Butch Wilmore and Suni Williams are sharing more details about their experience in space aboard the International Space Station after their time in Boeing's Starliner capsule. CBS News' Mark Strassmann spoke to the pair about their journey.
Williams and Wilmore reflect on space odyssey
Astronauts Butch Wilmore and Suni Williams addressed the media for the first time Monday since returning to Earth almost two weeks ago. CBS News senior national correspondent Mark Strassmann reports from the Johnson Space Center in Houston, Texas.
NASA astronauts discuss extended space trip
NASA astronauts Sunita "Suni" Williams and Barry "Butch" Wilmore are adjusting to life back on Earth after spending more than nine unplanned months in space. The astronauts discussed their science mission at a news conference on Monday from the agency's Johnson Space Center in Houston. Former NASA astronaut Dr. Tom Marshburn joins CBS News to unpack the pair's comments.
Astronauts who were stuck in space say they'd fly on Boeing's spacecraft again
NASA astronauts Butch Wilmore and Sunita Williams, who were stuck in space for more than nine months, took questions after returning to Earth.
SpaceX's Fram2 launch sends civilian crew into flight around Earth's poles
The international all-civilian Fram2 crew is the first in space history to fly to orbit with no licensed pilot or trained astronaut on board.
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Notable Deaths in 2025
A look back at the esteemed personalities who've left us this year, who'd touched us with their innovation, creativity and humanity.
Husband pieces together wife's last movements to find out how she was killed
A look into a grieving husband Jan Cilliers' investigative work after his wife Christy Giles and her friend Hilda Marcela Cabrales died after a night out.
The Scott Peterson case: New evidence?
Peterson's death sentence for the murder of his pregnant wife Laci has been overturned. Now his supporters are pushing for a complete retrial.
The troubled marriage of Ashley and Doug Benefield
The seesaw marriage between the former ballerina and her much older husband only lasted four years, until she shot him on Sept. 27, 2020.
Texas couple investigates teen daughter's unusual death
Cayley Mandadi's mother and stepfather go to extreme lengths to prove her death was no accident.
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Canada braces for Trump's new tariffs
Canadians are bracing for President Trump's highly-anticipated "Liberation Day" tariffs that could increase the chances of a long-lasting trade war between the allied nations. Mercedes Stephenson, Global News' Ottawa bureau chief, joins CBS News with more.
Severe storm tore through school roof
A severe storm system that passed through Dothan, Alabama, injured students after it ripped parts of a school's roof off. This comes as reports of fatalities emerge from the weather event that slammed the U.S. CBS News' Skyler Henry reports.
Trump immigration policies in limbo
Several Trump administration immigration policies remain in limbo as they work their way through the courts. CBS News legal contributor Caroline Polisi has more on the Temporary Protected Status (TPS) case and the case surrounding deportation flights to El Salvador.
Magician David Kwong on April Fools' Day tips
Magician and puzzle master David Kwong joins "CBS Mornings Plus" to talk about his new children's book, "How to Fool Your Parents," which teaches over two dozen magic tricks, just in time for April Fools' Day.
DOJ seeks death penalty in Mangione case
Attorney General Pam Bondi says the Department of Justice will seek the death penalty in the case against Luigi Mangione for the murder of UnitedHealthcare CEO Brian Thompson in New York City. CBS News' Shanelle Kaul reports.