Mar 15 Honda recalling 500,000 vehicles to fix seat belt issue By Associated Press The recall covers some of the the automaker's top-selling models including the 2017 through 2020 CR-V, the 2018 and 2019 Accord, the 2018 through 2020 Odyssey and the 2019 Insight. Continue reading
Mar 15 Credit Suisse shares plunge, drag down European lenders By Jamey Keaten, David McHugh, Associated Press Shares in the globally connected Swiss bank Credit Suisse plunged and dragged down other major European lenders. Continue reading
Mar 15 As fears renews of bank weakness, stocks tumble on Wall Street By Stan Choe, Associated Press Stocks are falling sharply on Wall Street as worries worsen about the strength of banks on both sides of the Atlantic. Continue reading
Mar 15 Retail sales drop slightly in February after jump in January spending By Anne D'Innocenzio, Associated Press America's consumers trimmed their spending in February after a buying burst in January, underscoring the volatility of the economic environment. Continue reading
Mar 14 Ohio sues Norfolk Southern to make sure it pays for toxic train derailment By John Seewer, Associated Press Ohio has filed a lawsuit against railroad Norfolk Southern to make sure it pays for the cleanup and environmental damage caused by a fiery train derailment on the Ohio-Pennsylvania border last month. Continue reading
Mar 14 Watch 5:03 News Wrap: Inflation shows signs of easing but prices well above where they were last year In our news wrap Tuesday, inflation shows fresh signs of easing but prices are still well above where they were a year ago, millions of Americans bore the brunt of foul weather from atmospheric rivers to nor'easters, the state of… Continue watching
Mar 14 Watch 6:14 High inflation complicates Federal Reserve’s response to bank failures By Geoff Bennett, Diane Lincoln Estes, Karina Cuevas Days after the collapse of Silicon Valley Bank and Signature Bank, there are plenty of questions being asked about the health of banks in the U.S. Sheila Bair served as the chair of the FDIC from 2006 to 2011 and… Continue watching
Mar 14 Analysis: Why Silicon Valley Bank and Signature Bank failed so fast By Vidhura S. Tennekoon, The Conversation Silicon Valley Bank and Signature Bank failed with enormous speed – so quickly that they could be textbook cases of classic bank runs, in which too many depositors withdraw their funds from a bank at the same time. Continue reading
Mar 14 U.S. inflation eases but stays high, putting the Federal Reserve in a tough spot By Christopher Rugaber, Associated Press U.S. consumer price increases eased slightly from January to February but still pointed to an elevated inflation rate that is posing a challenge for the Federal Reserve at a delicate moment for the financial system. Continue reading
Mar 14 Class action lawsuit filed against Silicon Valley Bank parent company By Michelle Chapman, Associated Press The lawsuit against SVB Financial Group, CEO Greg Becker and CFO Daniel Beck was filed in the U.S. district court for the Northern district of California. It is looking for unspecified damages to be awarded to some SVB investors. Continue reading