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Top officials from the Federal Reserve, the FDIC and the Treasury Department testified about the collapses of Silicon Valley Bank and Signature Bank to senators Tuesday. CBS News congressional correspondent Scott MacFarlane has more details.
First Citizens Bank agreed to purchase much of Silicon Valley Bank, which collapsed earlier in March. SVB's former branches reopened Monday under the First Citizens Bank banner.
FDIC Chairman Martin Gruenberg estimated about $20 billion would be needed to cover the collapse of Silicon Valley Bank.
First Citizens Bank has reached a deal to buy Silicon Valley Bank after the California lender's stunning collapse earlier this month. CBS News' Tony Dokoupil and Lilia Luciano are joined by Wall Street Journal market reporter Hannah Miao with more.
Silicon Valley Bank failed earlier this month after a sudden run on deposits, prompting regulators to seize control and sparking global fears about the sector.
CBS News business analyst Jill Schlesinger and J.D. Durkin, host of "The Street," join Errol Barnett and Elaine Quijano to discuss this week's market movers on Wall Street.
The Federal Reserve is raising its key interest rate 0.25 percentage point. Jeanna Smialek, a Federal Reserve and economy reporter for The New York Times, joined John Dickerson on Prime Time to discuss the Fed's decision.
Fed Chair slams the executives who were leading the regional bank when it collapsed, while insisting it was a one-off event.
The Federal Reserve is raising interest rates again in an effort to ease inflation. The quarter-point hike comes amid increased concern over the U.S. banking system. CBS News political correspondent Caitlin Huey-Burns joins "Red and Blue" to discuss the White House's response.
Bharat Ramamurti, deputy director for the National Economic Council, joins Lana Zak and Errol Barnett ahead of the Federal Reserve's decision on interest rates. He discusses the Biden administration's response to recent bank failures and stubbornly high inflation.
The Federal Reserve will decide whether it needs to boost interest rates again at a meeting Wednesday. Inflation still remains high, but the nation's recent banking crisis is causing concern over how the Fed should respond. CBS News senior White House and political correspondent Ed O'Keefe has more, and then Ann Berry, the founder of Threadneedle Strategies, joins CBS News to discuss the next steps for the Fed.
The Federal Reserve will announce its interest rate decision after several recent bank failures have shaken the industry. The housing industry will be one of the most impacted by the decision. Ed O'Keefe reports.
The central bank is meeting this week to decide whether to continue raising interest rates as the banking system remains unsettled. Mark Zandi, a chief economist of Moody's Analytics, joined John Dickerson on "Prime Time" to discuss.
Forced sale of a storied investment bank and lax U.S. financial rules are renewing concerns about the banking sector.
Inflation's still high, but analysts warn that further rate hikes from the Fed could lead more more banks to topple.
The Federal Reserve is expected to announce another round of interest rate hikes on Wednesday. Colby Smith, U.S. economics editor for the Financial Times, joins CBS News to discuss how the Fed's potential decision is tied to the banking crisis.
The treasury secretary says the plan would be set in motion if additional collapses trigger a run on banks.
Stocks closed higher on Monday after coordinated action from the Federal Reserve and other leading central banks to restore confidence in the banking system. Chief economist at the Conference Board, Dana Peterson, joins CBS News's John Dickerson to discuss.
About 190 banks could fail if even half of their uninsured depositors withdraw their money, a new study finds.
CBS News' Lilia Luciano and Tony Dokoupil are joined by Sultan Megjhi, the former chief investment officer of the FDIC, to discuss the issues weighing on the Federal Reserve as it considers its next move on interest rates.
The Biden administration is welcoming the release of a U.S. aid worker freed after being held captive in Niger for more than 6 years. This comes as the White House grapples with a banking crisis and concerns over Russia. CBS News senior White House and political correspondent Ed O'Keefe joins Lilia Luciano and Tony Dokoupil with details.
The Federal Reserve is expected to announce another interest rate hike when it meets this week amid a crisis of confidence in the banking industry. The Federal Deposit Insurance Corporation announced over the weekend that it sold a huge portion of failed Signature Bank to Flagstar Bank. Axios managing editor for business and markets and CBS News contributor Javier E. David discusses with Anne-Marie Green and Vlad Duthiers.
Signature Bank's collapse is considered the third-largest bank failure in U.S. history.
When the FDIC seized Silicon Valley Bank and New York's Signature Bank, last weekend, it was a reminder of how fragile our banking system can be. Fourteen years ago, 60 Minutes witnessed how far the federal government will go to protect bank depositors.
Officials announced the takeover on Sunday, after shares of Credit Suisse plummeted last week despite a $54 billion loan from the Swiss National Bank.
A "combination of factors" appear to have led a 15-year-old student to carry out a school shooting, police in Madison, Wisconsin, said Tuesday.
Luigi Mangione was indicted Tuesday by the Manhattan district attorney in the murder of UnitedHealthcare CEO Brian Thompson.
Leaders in Congress unveiled a measure to keep the government funded, facing a Friday night deadline to avert a government shutdown.
The head of Russia's chemical and biological forces, Lt. General Igor Kirillov, was killed in a Moscow bomb blast claimed by Ukraine.
Nima Momeni has been found guilty of second-degree murder in the fatal stabbing of Cash App founder Bob Lee, a verdict reached by a San Francisco jury after seven days of deliberations.
Heavy redactions obscured almost all information about the accusations themselves.
Last year, U.S. Surgeon General Dr. Vivek Murthy declared loneliness a national health epidemic, saying it poses risks as deadly as smoking.
Accused Gilgo Beach serial killer Rex Heuermann has been charged with a seventh murder.
The automakers are reportedly considering a merger to compete against large EV makers.
Last year, U.S. Surgeon General Dr. Vivek Murthy declared loneliness a national health epidemic, saying it poses risks as deadly as smoking.
Ana Orsini, an anchor at CBS affiliate KOLD-TV in Tucson, Arizona, died last week of a brain aneurysm, her colleagues announced on air.
NASA astronauts Butch Wilmore and Suni Williams have been stuck in space for months longer than expected, and will not return to Earth until at least March 2025 at the earliest, NASA indicated.
Here's what to know about Frontier's "GoWild!" unlimited flight deal, an "all you can fly" offer that costs $299.
The automakers are reportedly considering a merger to compete against large EV makers.
"In essence, this money has been stolen from all of us for all these years," said an 84-year-old woman whose late husband's Social Security benefits were slashed. "It's not fair."
Here's what to know about Frontier's "GoWild!" unlimited flight deal, an "all you can fly" offer that costs $299.
The automakers are reportedly considering a merger to compete against large EV makers.
The TikTok ban is set to go into effect next month barring a last-minute sale or Supreme Court action.
Walmart says retailing giant is testing pilot in one market, and no longer-term decisions have been made.
Heavy redactions obscured almost all information about the accusations themselves.
The TikTok ban is set to go into effect next month barring a last-minute sale or Supreme Court action.
"People deserve to know upfront what they're being asked to pay," FTC Chair Lina Khan said in announcing crackdown on certain consumer fees.
Rep. Gerry Connolly of Virginia won election to serve as the top Democrat on the House Oversight Committee, defeating Rep. Alexandria Ocasio-Cortez.
Leaders in Congress unveiled a measure to keep the government funded, facing a Friday night deadline to avert a government shutdown.
Republicans wants to extend 2017 tax cuts that expire next year and could let ACA subsidies lapse to help pay the tab, according to analysts.
Towana Looney, a 53-year-old Alabama woman, is now free from years of dialysis after receiving an experimental pig kidney transplant last month.
Author Emily Oster talks about new research linking early sugar exposure to chronic diseases.
The president-elect's choices to lead the Department of Health and Human Services, as well as agencies such as the National Institutes of Health, FDA and CDC, hold positions on issues including abortion and vaccination that are often at odds.
Lizzie Clark was 13 when she started hearing a constant ringing in her ear. Doctors found a tumor on her facial nerve.
Researchers determined that dozens of men, women and children were violently killed and cannibalized in Bronze Age-era England.
Milei is the first world leader expected to be in Washington, D.C. for President-elect Donald Trump's inauguration, though arrangements are underway for others to join.
Police in the Canadian capital of Ottawa say they have arrested and charged a suspect in the deadly stabbing of Christopher Smith in 1996.
The stepmother and father of Sara Sharif have been sentenced to life in prison for horrific abuse that ended up killing the 10-year-old British girl.
The officers became suspicious after noticing the female passenger "was not conscious and was not communicating."
Comedian Nikki Glaser, known for her honest style, is gearing up to host the 82nd Annual Golden Globes.
The New York Times called comedian Nikki Glaser "comedian of the year" for her knockout HBO special, "Someday You'll Die." It received Emmy, Grammy and Golden Globe nominations. And now, Glaser is taking on a new project — hosting the Golden Globes. She joins "CBS Mornings."
The highly anticipated "Sonic the Hedgehog 3" hits theaters this Friday, introducing a fierce new enemy, Shadow. Six-time Emmy nominee Idris Elba reprises his role as Knuckles and shares how he got back up to speed for the action-packed sequel.
Among the 25 films selected by the Library of Congress to be preserved for future generations are the Coen Brothers' "No Country for Old Men," "The Social Network," Cheech & Chong's "Up in Smoke," and "The Texas Chainsaw Massacre."
Supreme Court Justice Ketanji Brown Jackson made her Broadway debut Saturday night in a one-time performance in the hit musical comedy "& Juliet."
2024 has been a big year for space exploration, with the shift towards privately financed missions fueling major innovations. CBS News space analyst Bill Harwood discusses the latest on the Boeing Starliner astronauts who have been stuck at the International Space Station for months, the Odysseus moon lander, Space X and NASA.
TikTok is asking the Supreme Court to pause a law that could ban the app in the U.S. President-elect Donald Trump said that he has a "warm spot" in his heart for the social media app. CBS News Supreme Court producer Catherine Cole has more.
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.
The TikTok ban is set to go into effect next month barring a last-minute sale or Supreme Court action.
Nima Momeni has been found guilty of second-degree murder in the fatal stabbing of Cash App founder Bob Lee, a verdict reached by a San Francisco jury after seven days of deliberations.
From record-breaking temperatures to devastating disasters, 2024 brought the world closer to the reality of what climate change looks and feels like. CBS News national environmental correspondent David Schechter reports.
Researchers determined that dozens of men, women and children were violently killed and cannibalized in Bronze Age-era England.
In this episode of “ClimateWatch,” CBS national environmental correspondent David Schechter looks back at the devastating hurricanes, landslides, flooding and more that impacted the U.S. this year.
According to the Center for Biological Diversity, the U.S. creates nearly 6 billion tons more waste in December than in other months. The nonprofit says about 25% of returned products end up in landfills. Sandra Goldmark, a circular economy expert and associate dean at the Columbia University Climate School, joins CBS News to share examples of sustainable, environmentally friendly gifts for everyone on your list.
Increasingly intense wildfires have become more common in California, upending the lives of thousands. Many insurers are dwindling coverage options, leaving several homes in danger. Business Insider senior sustainability reporter Catherine Boudreau joins "The Daily Report" to discuss.
Tech consultant Nima Momeni has been found guilty of second-degree murder in the 2023 stabbing of Cash App founder Bob Lee. CBS News Bay Area reporter Lauren Toms has more details.
Accused Gilgo Beach serial killer Rex Heurmann has been charged with a seventh murder. He has pleaded not guilty in the murders of six other women. CBS News New York reporter Carolyn Gusoff has more.
A New York grand jury has indicted Luigi Mangione, the man accused of killing UnitedHealthcare CEO Brian Thompson, with first-degree murder and killing as an act of terrorism. Lilia Luciano has the latest on the case.
Police in Madison, Wisconsin, said a number of factors may have led a 15-year-old student to open fire in a classroom on Monday, killing two people before taking her own life. Two of the injured were still in critical condition on Tuesday. Charlie De Mar reports.
Authorities said a teen student opened fire at a Christian school in Madison, Wisconsin on Monday, killing one student, a teacher and injuring several others. Police identified the suspect as a 15-year-old girl who seems to have died of a self-inflicted gunshot wound. CBS News correspondent Ian Lee reports.
Two astronauts who have been stuck aboard the International Space Station for months will have to wait even longer to come home. Their planned returned was delayed once again on Tuesday, pushing their earliest return trip back to late March. Manuel Bojorquez has more.
NASA astronauts Butch Wilmore and Suni Williams have been stuck in space for months longer than expected, and will not return to Earth until at least March 2025 at the earliest, NASA indicated.
December's full moon, known as the Cold Moon, is the last full moon of 2024. Here's when it peaks and why it's called the Cold Moon.
One of the best meteor showers of the year is about to peak. Here's how to watch and where you can catch the Geminids.
Engineers now say they understand the most likely cause of the Ingenuity helicopter's crash landing on Mars earlier this year.
A look back at the esteemed personalities who've left us this year, who'd touched us with their innovation, creativity and humanity.
The seesaw marriage between the former ballerina and her much older husband only lasted four years, until she shot him on Sept. 27, 2020.
Cayley Mandadi's mother and stepfather go to extreme lengths to prove her death was no accident.
See some of convicted serial killer Rodney Alcala's photographs that were discovered by detectives in a Seattle storage locker.
Live performances are in full swing this summer. Scroll through our concert gallery, featuring pictures by CBS News photojournalist Jake Barlow and photographers Ed Spinelli and Kirstine Walton.
Tech consultant Nima Momeni has been found guilty of second-degree murder in the 2023 stabbing of Cash App founder Bob Lee. CBS News Bay Area reporter Lauren Toms has more details.
Accused Gilgo Beach serial killer Rex Heurmann has been charged with a seventh murder. He has pleaded not guilty in the murders of six other women. CBS News New York reporter Carolyn Gusoff has more.
2024 has been a big year for space exploration, with the shift towards privately financed missions fueling major innovations. CBS News space analyst Bill Harwood discusses the latest on the Boeing Starliner astronauts who have been stuck at the International Space Station for months, the Odysseus moon lander, Space X and NASA.
A new study found that 35 South Florida high-rise condominiums and luxury hotels are sinking. Gregor Eberli, co-author of that study and professor of marine geosciences at the University of Miami, joins "The Daily Report" to discuss.
From record-breaking temperatures to devastating disasters, 2024 brought the world closer to the reality of what climate change looks and feels like. CBS News national environmental correspondent David Schechter reports.