First Citizens Bank buying SVB's deposits and loans, FDIC says
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.
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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.
Inflation's still high, but analysts warn that further rate hikes from the Fed could lead more more banks to topple.
Officials announced the takeover on Sunday, after shares of Credit Suisse plummeted last week despite a $54 billion loan from the Swiss National Bank.
All deposit accounts at Silicon Valley Bank and Signature Bank in New York will be guaranteed, the Federal Reserve, Treasury Dept. and FDIC said in a joint statement.
Across the Atlantic, startup companies woke up Saturday to find that Silicon Valley Bank's U.K. business will stop making payments or accepting deposits.
"Conditions were worse than a whiteout (if that's possible)," Mackinac Island's fire chief said about Sunday's rescue of a snowmobiler.
Gas prices in Michigan inched up 4 cents in the past week after seeing a 56-cent spike in the previous week, AAA says.
Three people are dead and one seriously injured in the aftermath of a two-vehicle crash early Monday on Cass Avenue, police say.
The top 16 seeds in the 68-team field will host first- and second-round games, with the regional rounds being played at two neutral sites for the fourth straight year.
Michigan is again dealing with wild weather and its impact on Monday, even as cleanup continues from recent days.
Three people are dead and one seriously injured in the aftermath of a two-vehicle crash early Monday on Cass Avenue, police say.
Michigan is again dealing with wild weather and its impact on Monday, even as cleanup continues from recent days.
The Israel Defense Forces said Ibrahim Muhammad Ghazali was responsible for managing weapons operations for the unit within the U.S.-designated terrorist group.
Gas prices in Michigan inched up 4 cents in the past week after seeing a 56-cent spike in the previous week, AAA says.
The Detroit Chapter of the National Action Network is calling on people of all faiths to come together after the synagogue attack on Thursday in West Bloomfield, Michigan.
The United Auto Workers says that Detroit Diesel is adding a third shift, recalling laid-off workers and hiring dozens more people.
AAA says motorists are paying an average of $3.53 a gallon for regular unleaded gas in the United States.
For the first time in 15 years, Stellantis is not issuing a profit-sharing distribution to UAW-represented employees.
Union Vice President Laura Dickerson confirmed that the worker, TJ Sabula, "has no discipline on his record."
Some General Motors employees are taken aback by this year's profit-sharing checks, with it being $4,000 less than the previous one.
The acclaimed filmmaker, who died in February at age 96, revolutionized the art of documentaries with such films as "Titicut Follies." In an interview recorded last year, the pioneering Wiseman talked about his unusual production methods aimed at capturing life.
Hollywood's biggest stars were honored at the 98th annual Academy Awards on Sunday. Here is what to know and how to watch the 2026 Oscars.
A woman was arrested on Sunday for firing multiple shots at the Beverly Hills home of Rihanna, Los Angeles Police Department officials say.
A restaurant celebrating rock music in the era of the legendary band Kiss is set to open in Royal Oak.
Six Flags is selling off some of its North America amusement parks, including Michigan's Adventure in Muskegon.
The top 16 seeds in the 68-team field will host first- and second-round games, with the regional rounds being played at two neutral sites for the fourth straight year.
Duke is the top overall seed in the NCAA men's college basketball tournament, with Arizona, Michigan, and Florida also landing on the No. 1 line.
The U.S. became the first nation to sweep the hockey tournaments at the Olympics and Paralympics.
The Israel Defense Forces said Ibrahim Muhammad Ghazali was responsible for managing weapons operations for the unit within the U.S.-designated terrorist group.
Iranian Foreign Minister Abbas Araghchi said that "we don't see any reason why we should talk with Americans" as President Trump has claimed Iran is seeking a deal to end the war between the U.S. and Iran.
A second resident of Washtenaw County is suspected to have measles, as health officials continue an investigation about potential cases and exposure sites.
A measles case has been confirmed in Washtenaw County, with health officials investigating when and where others may have been exposed in Southeast Michigan.
Michigan Medicine will drop thousands of Blue Cross Blue Shield members if a deal isn't reached.
HHS Secretary RFK Jr. wants the popular coffee chains to prove their surgery drinks are safe for teens and suggested the Trump administration could place limits on your cup of coffee.
Water testing has detected "low levels" of Legionella bacteria at two more Oakland County government buildings.
The top 16 seeds in the 68-team field will host first- and second-round games, with the regional rounds being played at two neutral sites for the fourth straight year.
The Detroit Pistons were topped by the Raptors 119-108 on Sunday. Brandon Ingram had a game-high 34 points for Toronto.
Duke is the top overall seed in the NCAA men's college basketball tournament, with Arizona, Michigan, and Florida also landing on the No. 1 line.
The Boilermakers won the Big Ten Tournament for the first time since 2023 and the third time overall.
The U.S. became the first nation to sweep the hockey tournaments at the Olympics and Paralympics.
Rose talks about a new TV series being filmed in Detroit called "South West High," which revolves around a fictional high school in the Motor City.
As Women's History Month kicks off, Donna Murray-Brown, the new president and CEO of Inforum, appears on Michigan Matters.
Penske, a business and racing legend, turns 89 on Feb. 20 and is celebrating his 60th year in racing during 2026.
Claressa Shields talks about giving back to the community and her efforts to increase equity for women in sports.
The roundtable discusses the impact of the high-profile game for advertisers, including Detroit-based Rocket and Redfin.
Gas prices in Michigan inched up 4 cents in the past week after seeing a 56-cent spike in the previous week, AAA says.
March is National Reading Month, and a Metro Detroit author and educator is sharing his book recommendations.
U.S. Coast Guard Cutter Mackinaw rescued a snowmobiler stranded on ice near Mackinac Island.
Oil prices remain over $100 a barrel as President Trump's demand that other countries help reopen the Strait of Hormuz — a vital shipping lane Iran has paralyzed for over two weeks despite relentless U.S. and Israeli strikes — draws no immediate offers of assistance.
A Redford man was home - but managed to get out - after a large tree fell on his house due to storm damage.