Mar 21 Norfolk Southern CEO offers support for new regulations after Ohio train disaster By Stephen Groves, Associated Press CEO Alan Shaw is under pressure from senators and federal safety regulators to step up his commitment to safety regulations as he appears before the Senate Commerce Committee on Wednesday. Continue reading
Mar 21 Fox News producer claims network was coerced to give misleading testimony in Dominion libel case By Randall Chase, Nicholas Riccardi, Associated Press The $1.6 billion lawsuit filed by Dominion Voting Systems alleges that Fox amplified false allegations that its machines changed votes in the 2020 presidential election. Continue reading
Mar 21 Hundreds of lobbyists pushed government to water down banking regulations By Brian Slodysko, Ken Sweet, Associated Press An unlikely coalition voted in 2018 to roll back portions of a far-reaching 2010 law intended to prevent a future financial crisis. But those changes are now being blamed for contributing to the recent collapse of Silicon Valley Bank and… Continue reading
Mar 21 WATCH: Treasury Secretary Janet Yellen delivers remarks promising further support for banks By Fatima Hussein, Associated Press Treasury Secretary Yellen is trying to project calm after regional bank failures, saying the U.S. banking system is “sound” but additional rescue arrangements “could be warranted” if any new failures at smaller institutions pose a risk to financial stability. Continue reading
Mar 20 Watch 6:06 Can banking takeovers and rescues stabilize the markets? By Geoff Bennett, Dorothy Hastings Ten days after the collapse of Silicon Valley Bank and emergency measures to stabilize the system, key parts of the banking industry are still reeling and anxious. UBS agreed to buy out its rival Credit Suisse for a fraction of… Continue watching
Mar 20 Amazon to cut 9,000 more jobs in second round of layoffs By Haleluya Hadero, Associated Press The job cuts would mark the second largest round of layoffs in the company’s history. Amazon had already cut 18,000 in the past few months. Continue reading
Mar 20 FDIC extends bidding process for Silicon Valley Bank successor By Michelle Chapman, Associated Press The FDIC said Monday that there’s been “substantial interest” from multiple parties for Silicon Valley Bridge Bank. Continue reading
Mar 19 Banking giant UBS announces acquisition of Credit Suisse amid financial turmoil By Jamey Keaten, Ken Sweet, Associated Press Banking giant UBS is buying its smaller rival Credit Suisse in an effort to avoid further market-shaking turmoil in global banking, Swiss President Alain Berset announced on Sunday night. Continue reading
Mar 18 Analysis: Who is winning in the high-revenue world of college sports? By Andrew Zimbalist, Econofact The U.S. hyper-commercialized system of college sports, which does not exist anywhere else in the world, is in a period of overarching transition and deep financial crisis. Continue reading
Mar 17 Will Americans end up paying for bank failures? By Christopher Rugaber, Associated Press The government's response to the failure of two large banks has already involved hundreds of billions of dollars. So will ordinary Americans end up paying for it, one way or another? And what will the price tag be?… Continue reading