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.
Key moments, reaction to Trump's announcement of new tariffs
President Trump announced new reciprocal tariffs on Wednesday, which he dubbed "Liberation Day."
Severe storms in South and Midwest turn deadly
Violent storms cut through a wide swath of the South and Midwest, spawning tornadoes and killing at least two people, knocking down power lines and trees and ripping roofs off homes.
How other nations are reacting to Trump's sweeping new tariffs
America's global trading partners are bristling at President Trump's tariff tactics, but many also stress a desire to strike new deals with the U.S.
Stocks slide around the world as investors recoil from Trump tariffs
U.S. financial markets look set to crater in early as trade, with Dow future down nearly 1,300 points.
4 Republicans join Senate Democrats to rebuke Trump tariffs on Canada
The Senate voted Wednesday on a measure aimed at blocking tariffs on Canadian products.
See the full list of reciprocal tariffs by country from Trump's chart
President Trump announced reciprocal tariffs on about 60 countries, including China and the European Union. Here's the list.
Judge in Boston to hold hearing today on detained Tufts Ph.D. student
ICE agents took Turkish Ph.D. student Rumeysa Ozturk into custody near Tufts, revoked her visa and moved her to a detention center in Louisiana last week.
FDA planning for fewer food and drug inspections due to layoffs, officials say
Around 170 staff were cut from the FDA's Office of Inspections and Investigations this week as part of wider cuts at U.S. health agencies.
Exclusive
Family of British couple in Taliban captivity appeal to Trump
Britons Peter and Barbie Reynolds, both in their 70s, were detained by the Taliban on Feb. 1.
U.S.
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Stocks slide around the world as investors recoil from Trump tariffs
U.S. financial markets look set to crater in early as trade, with Dow future down nearly 1,300 points.
Severe storms in South and Midwest turn deadly
Violent storms cut through a wide swath of the South and Midwest, spawning tornadoes and killing at least two people, knocking down power lines and trees and ripping roofs off homes.
U.S. takes action after wanted cartel leader's face shown at concert
The controversy broke out when the face of "El Mencho" — who has a $15 million bounty on his head in the U.S. — was projected behind the band.
Mayor resigns after texting sexually explicit video to city attorney
Minot Mayor Tom Ross sent the lewd video minutes after he and the city attorney had a phone call discussing a police officer's suicide.
Judge in Boston to hold hearing on detained Tufts Ph.D. student
ICE agents took Turkish Ph.D. student Rumeysa Ozturk into custody near Tufts, revoked her visa and moved her to a detention center in Louisiana last week.
MoneyWatch
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Stocks slide around the world as investors recoil from Trump tariffs
U.S. financial markets look set to crater in early as trade, with Dow future down nearly 1,300 points.
Businesses fear new Trump tariffs will hurt them — and their customers
One restaurant owner worried about tariffs pushing up food prices said such costs are "coming right off my bottom line."
See the full list of reciprocal tariffs by country from Trump's chart
President Trump announced reciprocal tariffs on about 90 countries, including China and the European Union. Here's the list.
Which products will be affected by new tariffs announced by Trump?
President Trump rolled out new tariffs on April 2 aimed at easing trade imbalances. Here's which products could become more expensive as a result.
Trump reveals these 2 new tariffs on "Liberation Day," April 2
On April 2, President Trump unveiled a universal import duty of 10% on all products, as well as reciprocal tariffs on imports from 90 nations.
Politics
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Judge in Boston to hold hearing on detained Tufts Ph.D. student
ICE agents took Turkish Ph.D. student Rumeysa Ozturk into custody near Tufts, revoked her visa and moved her to a detention center in Louisiana last week.
Trump's DEI undoing undermines accommodations for disabled people
From halting diversity programs that benefit disabled workers to federal staffing cuts, the Trump administration has taken a slew of actions that harm people with disabilities.
How other nations are reacting to Trump's sweeping new tariffs
America's global trading partners are bristling at President Trump's tariff tactics, but many also stress a desire to strike new deals with the U.S.
Evangelical group strives to change its own narrative around immigration
Women of Welcome, a nonprofit migrant aid group made up of evangelical women from across the U.S. who are attempting to help asylum seekers, something they say is a Biblical calling.
Trump reveals these 2 new tariffs on "Liberation Day," April 2
On April 2, President Trump unveiled a universal import duty of 10% on all products, as well as reciprocal tariffs on imports from 90 nations.
HealthWatch
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Trump's DEI undoing undermines accommodations for disabled people
From halting diversity programs that benefit disabled workers to federal staffing cuts, the Trump administration has taken a slew of actions that harm people with disabilities.
Here's how cuts at NIH could impact cancer patients
The Trump administration's cuts to the National Institutes of Health has some worried about stalls in research and medicine.
FDA planning for fewer food and drug inspections due to layoffs, officials say
Around 170 staff were cut from the FDA's Office of Inspections and Investigations this week as part of wider cuts at U.S. health agencies.
Tony's Chocolonely recalls chocolate bars after reports of stones
Tony's Chocolonely is recalling some products after consumers reported finding "small stones" in the chocolate bars.
FDA lays off bird flu leadership, among steep cuts to senior veterinarians
More than 130 staff were cut from the FDA's Center for Veterinary Medicine, officials said.
World
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Stocks slide around the world as investors recoil from Trump tariffs
U.S. financial markets look set to crater in early as trade, with Dow future down nearly 1,300 points.
U.S. takes action after wanted cartel leader's face shown at concert
The controversy broke out when the face of "El Mencho" — who has a $15 million bounty on his head in the U.S. — was projected behind the band.
Miller Gardner died of carbon monoxide poisoning, Costa Rica says
Costa Rica authorities confirmed that carbon monoxide poisoning was the cause of death of Miller Gardner, the 14-year-old son of former New York Yankees outfielder Brett Gardner.
How other nations are reacting to Trump's sweeping new tariffs
America's global trading partners are bristling at President Trump's tariff tactics, but many also stress a desire to strike new deals with the U.S.
Exclusive
Family of British couple in Taliban captivity appeal to Trump
Britons Peter and Barbie Reynolds, both in their 70s, were detained by the Taliban on Feb. 1.
Entertainment
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Tony Bennett's daughters file new lawsuit against brother over estate
Tony Bennett's children are in a legal battle over the singer's estate.
Nintendo Switch 2 and new "Mario Kart World" game to be released in June
Nintendo has announced a June 5 launch date for its latest gaming console, the Switch 2.
From the archives: Val Kilmer as Mark Twain
Actor Val Kilmer, best known for "Top Gun," "The Doors," and his starring role as Batman, died on April 1, 2025, at age 65. In this Sept. 22, 2013 "Sunday Morning" story, correspondent Bill Geist sat down with Kilmer, then playing Mark Twain in his one-man stage show, "Citizen Twain," to discuss the legacy of the legendary humorist whom Vilmer called "the first great stand-up comedian."
Paddy Considine on "MobLand"
Paddy Considine talks about starring in Guy Ritchie's latest action-packed series "MobLand," playing the son of a powerful crime boss caught in a turf war alongside a star-studded cast.
Max Thieriot on season 3 of "Fire Country"
Max Thieriot plays Bode Donovan, a former inmate navigating a new life as a firefighter in season 3 of the CBS drama, "Fire Country." He joins "CBS Mornings Plus" to discuss the inspiration behind the role and the real-life program that shaped the story.
Technology
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Technology
Nintendo unveils new Switch 2 console
Nintendo has unveiled its next console, the Switch 2. Washington Post reporter Gene Park joins "The Daily Report" to discuss the new user experience, the price and possible security concerns.
Amazon tells White House it's interested in buying TikTok
Amazon has expressed interest in buying TikTok ahead of deadline for ByteDance to sell the social media app or face a U.S. ban.
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.
What to know about RedNote
CBS News Confirmed looks at why users are flocking to RedNote, the new Chinese app raising red flags over data privacy and propaganda, as TikTok faces a potential U.S. ban.
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.
Science
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Archaeologists discover mass grave from Roman Empire-era battle
Experts at the Vienna Museum provided a public presentation of the mass grave this week, which had the bodies of more than 100 people.
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.
Crime
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What to know about federal executions as DOJ seeks death penalty for Mangione
Each death penalty case is authorized by the DOJ headquarters in Washington, D.C., in consultation with local U.S. Attorney offices, who prosecute the cases.
Man accused of trying to kill Kavanaugh intends to plead guilty, court docs show
Nicholas Roske was found outside Supreme Court Justice Brett Kavanaugh's home with a gun and a knife in 2022.
Adams reacts to judge dismissing case
New York City Mayor Eric Adams touted a judge's decision to dismiss his federal corruption case with prejudice. Adams faced several counts of bribery, conspiracy and campaign finance violations. CBS News' Shanelle Kaul has more.
Fugitive leader of notorious Ecuador drug gang is indicted in U.S.
José Adolfo Macías Villamar — known as "Fito" — has led Los Choneros and its "network of assassins and drug and weapon traffickers" since at least 2020, federal prosecutors said.
German police say online child sex abuse platform busted in huge operation
Police in Europe say "one of the largest pedophile platforms in the world" is now offline after a joint operation dismantled the "KidFlix" network.
Space
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"City-killer" asteroid has slim chance of striking moon, experts say
The 2024 YR4 asteroid has a near-zero chance of striking Earth, but a slim chance of hitting the moon, new research says.
NASA's SPHEREx space telescope releases its first images
The first images captured by NASA's SPHEREx space telescope showed tens of thousands of stars and galaxies.
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.
Latest Galleries
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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.
Latest CBS News Videos
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Latest CBS News Videos
Alarming world reaction to Trump tariffs
President Trump said he is slapping tariffs on all U.S. trading partners and will also apply reciprocal tariffs to around 60 countries. The moves may reap negative economic effects around the world. CBS News' Ramy Inocencio reports.
Global markets tumble after tariffs news
Markets in Asia and Europe have been down since President Trump's tariff announcement. A sharp drop in Wall Street may also occur. CBS News' Natalie Brand reports.
Bertolli Reimagines Olive Oil for a Sustainable Future, From Grove to Table
Bertolli, the world's leading olive oil brand, is revolutionizing sustainable food production while maintaining high-quality, setting new industry standards for environmental stewardship.
How Bell is Revolutionizing Helicopter Technology: The Future of Aviation and Battlefield Support
In the world of aviation, technological advancements are not just about innovation but transforming lives. Bell is at the forefront of helicopter technology evolution redefined emergency services, battlefield support, and commercial aviation.
Vistra transforms the way the world does business with Geni
Vistra introduces Geni, the world's first global AI compliance advisor and part of its new Global Expansion Platform. Geni pioneers a new era of progress in corporate services by helping businesses navigate regulatory changes and manage global entities.