SVB Financial, former parent of Silicon Valley Bank, files for bankruptcy
The bankruptcy comes days after its bank was shut down and taken over by regulators amid a solvency crisis.
The bankruptcy comes days after its bank was shut down and taken over by regulators amid a solvency crisis.
The two banks suddenly collapsed last week, but the federal government quickly said that depositors would not lose their money.
The San Francisco regional bank's stock had plunged by a third on Thursday on concerns about its financial stability.
Social media and online banking have made lenders more vulnerable to digital bank runs, experts say.
Following the collapse of Silicon Valley Bank and regional banking fears, larger U.S. banks have seen an increase in new depositors looking to secure their money. Stephen Gandel, U.S. banking correspondent at The Financial Times, joins CBS News to discuss the fallout and how major U.S. banks are responding.
Shares of the financial giant had sunk to an all-time low, fueling further concerns about the stability of other big banks.
"Americans can feel confident that their deposits will be there when they need them," the treasury secretary is expected to tell Congress Thursday.
Swiss central bank promised to back Credit Suisse, which sparked investor panic with record losses and financial reporting errors.
"Credit Suisse is not just a Swiss problem but a global one," one Wall Street analyst said after the bank's shares tumbled.
After a frenetic weekend, policymakers took the audacious step of guaranteeing all deposits of the failed Silicon Valley Bank.
Some bank customers are fretting over whether their cash is secure after the failure of Silicon Valley Bank. .
Worried about the FDIC's $250,000 insurance cap? Read on to learn about different ways to safeguard your cash.
Fed "stuck between a rock and a hard place" as it must now decide if the banking system can handle more interest-rate hikes.
Customers and investors are scrutinizing fiscal health of smaller banks that may share some similar risks to SVB.
Regional bank shares are recovering after heavy losses on Monday stemming from the collapse of Silicon Valley Bank.
Federal law enforcement officials on Tuesday confirmed an investigation into the bank's collapse, and the probe is said to be in its early stages.
"We had a situation where people got scared about a bank's ability to return depositors' money and depositors wanted their money out," he said.
Trading halted at more than a dozen regional banks after prices continued to free fall.
Andie Swim was among the bank's customers and the owner tells CBS News that she was "panicked and flustered," upon hearing the news of the bank's closing.
From fintech firms to swimwear startups and winemakers, these companies are affected by SVB's collapse.
Abrupt closure of two banks sent shockwaves across the sector and raises concerns about the stability of regional lenders.
The stocks of other regional banks, including Zions, Pacific West and Western Alliance, also took a beating.
Biden administration officials announced a series of emergency moves to reassure the public of the soundness of the financial system.
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.
All depositors will be made whole, the Federal Reserve, Treasury Department and FDIC said Sunday in a joint statement.
Brian Fanion says he and his wife Amy Fanion had been arguing about his retirement plans when she picked up his service weapon and shot herself. Investigators did not believe his story.
The painter, sculptor and printmaker created work that was hailed as landmarks of the minimalist and post-painterly abstraction art movements.
It was just the 10th Kentucky Derby decided by a nose, and the first since Grindstone wore the garland of red roses in 1996.
Federal prosecutors said the men used fake badges, police lights and firearms to rob and kidnap Shamari Taylor for drug money.
Laborers, many of whom are migrants from Mexico, Guatemala, Venezuela or other Latin American countries, head to the tracks six days a week to help keep the $2.7 billion racing economy galloping.
Protesters chanted anti-war messages and waved Palestinian flags and Israeli flags during the University of Michigan's commencement Saturday.
Warren Buffett referred to close friend Charlie Munger as the "the architect of Berkshire Hathaway."
An adviser to Israeli Prime Minister Benjamin Netanyahu told CBS News that "the end of the war will come with the end of Hamas in Gaza."
Oscar-winning actor Kevin Spacey fired back at fresh allegations of sexual harassment and assault from men who will feature as part of a documentary on British television.
Brian Fanion says he and his wife Amy Fanion had been arguing about his retirement plans when she picked up his service weapon and shot herself. Investigators did not believe his story.
The painter, sculptor and printmaker created work that was hailed as landmarks of the minimalist and post-painterly abstraction art movements.
It was just the 10th Kentucky Derby decided by a nose, and the first since Grindstone wore the garland of red roses in 1996.
Federal prosecutors said the men used fake badges, police lights and firearms to rob and kidnap Shamari Taylor for drug money.
Laborers, many of whom are migrants from Mexico, Guatemala, Venezuela or other Latin American countries, head to the tracks six days a week to help keep the $2.7 billion racing economy galloping.
Warren Buffett referred to close friend Charlie Munger as the "the architect of Berkshire Hathaway."
The retailer says the peelable treats have been "flying off the shelves" ever since TikTokers discovered the candy.
Audit firm BF Borgers allegedly failed to comply with accounting standards and fabricated audit documentation, regulators claim.
U.S. unemployment rate rose slightly to 3.9% in April, continuing a stretch of remaining under 4% for 27 months.
Job site Indeed identified the top 10 most sought-after job candidates by employers and recruiters. Here's what they found.
The decision prompted a wave of public backlash as women saw fertility treatments canceled or put in jeopardy after the ruling.
The hostage and cease-fire talks have taken on new urgency amid a looming Israeli ground invasion of Rafah, in southern Gaza.
Democratic Rep. Henry Cuellar of Texas was elected to the House in 2005 and represents the state's 28th Congressional District.
Ex-government employee Miguel Zapata is accused of sending fake FBI tips falsely accusing multiple coworkers of taking part in the Jan. 6, 2021, Capitol breach.
Roughly 100,000 immigrants who were brought to the U.S. as children are expected to enroll in the Affordable Care Act's health insurance next year under a new administration rule, the White House says.
The Texas dairy worker infected by H5N1 "did not disclose the name of their workplace," frustrating investigators.
Stress is hard to avoid, but experts say getting outdoors can have a positive impact on both our mental and physical health.
Actress Halle Berry joined with a group of bipartisan senators on Thursday to announce new legislation to promote menopause research, training and education.
New CDC data shows about 680 women in the U.S. died during pregnancy or shortly after childbirth in 2023, a decline from the previous year.
UnitedHealth Group CEO Andrew Witty disclosed that a cyberattack on one of its subsidiaries earlier this year might affect up to a third of all Americans.
Sadiq Khan, the Labour Party's mayor of London, has romped to victory, securing a record third straight term at City Hall, on another hugely disappointing day for the U.K.'s governing Conservatives ahead of a looming general election.
An adviser to Israeli Prime Minister Benjamin Netanyahu told CBS News that "the end of the war will come with the end of Hamas in Gaza."
Torrential rain pounding the area since Thursday triggered a landslide in Luwu district in South Sulawesi province, officials say.
In the past few weeks, flooding in Kenya and Tanzania killed hundreds after heavy rain during the region's monsoon season, officials said.
Three suspects were arrested and charged in the slaying of Hardeep Singh Nijjar by masked gunmen outside Vancouver.
Renowned artist Frank Stella, whose large-scale minimalist "Black Paintings" took the art world by storm in the 1950s, has died at the age of 87.
Oscar-winning actor Kevin Spacey fired back at fresh allegations of sexual harassment and assault from men who will feature as part of a documentary on British television.
We're counting down some of the most iconic Met Gala looks from the best dressed stars, like Rihanna, Bad Bunny, Zendaya and more.
In an effort to fully understand our nation's founding document, the New York Times bestselling author and humorist embarked on a year-long quest to be the original originalist. Muskets were involved.
Old 97's first started in Dallas as a popular bar band in the 90s, but since then, they've garnered a national fan base and critical acclaim. Now, three decades later, the alt-country pioneers are making a return visit to Saturday Sessions with their new studio album. From their new album "American Primitive," here are Old 97's with "Where The Road Goes."
Sidechat, an app launched in 2022 where students can post anonymously about their colleges, is becoming a tool for those choosing to protest at U.S. campuses. Amanda Silberling, a senior culture writer for TechCrunch, joins CBS News with more details on the app.
Microsoft users can now use biometric passkeys, like a thumbprint or Face ID, to sign into Microsoft 365, Copilot. Jon Fingas, senior editor at Techopedia, 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.
Sidechat, an anonymous messaging app, has been used by students to share opinions and updates, but university administrators say it has also fueled hateful rhetoric.
Georgia is home to the nation's newest nuclear reactor. It's bringing clean energy to the state, but the project has run over budget and past its original completion date. Drew Kann, climate and environment reporter for The Atlanta Journal-Constitution, joins CBS News to explore the effort.
There's a newly-determined "major factor" in declining bumblebee populations – and it's attacking their nests.
On Monday, Boeing plans to launch astronauts on its new spacecraft that is called Starliner. The test flight to the International Space Station is years behind schedule.
Georgia is home to the nation's newest nuclear reactor. It's bringing clean energy to the state, but the project has run over budget and past its original completion date. Drew Kann, climate and environment reporter for The Atlanta Journal-Constitution, joins CBS News to explore the effort.
For the first time since 1803, two groups of periodical cicadas are emerging from the ground at the same time in parts of the Midwest and South. However, a small section of Central Illinois marks the only place where both the 13-year and 17-year cicadas are emerging in the same place. Dave Malkoff reports on the extraordinary event.
Much of Asia is sweltering under a heat wave that one expert calls "by far the most extreme event in world climatic history."
Brian Fanion says he and his wife Amy Fanion had been arguing about his retirement plans when she picked up his service weapon and shot herself. Investigators did not believe his story.
Federal prosecutors said the men used fake badges, police lights and firearms to rob and kidnap Shamari Taylor for drug money.
Police in Wisconsin fatally shot a student who had pointed a pellet rifle in their direction outside a middle school, according to the state's Department of Justice.
In one find, a K-9 officer helped police find over a dozen fish buried in the sand and hidden behind logs and brush piles.
Massachusetts investigators uncover a suspicious web history after Brian Fanion reports his wife Amy's death as a suicide.
Boeing is expected to launch its Starliner space capsule that will take two astronauts to the International Space Station. CBS News consultant Bill Harwood breaks down Boeing's mission.
It is the latest advance in China's increasingly sophisticated space exploration program, which is now competing with the U.S.
Boeing is set to launch its first-ever spaceflight with humans next week. The Starliner spacecraft will lift off from Florida on Monday night for a multi-day mission to the International Space Station. Commander Barry "Butch" Wilmore and pilot Sunny Williams, two seasoned NASA astronauts who are a part of the mission, join CBS News to go over the flight.
The Horsehead Nebula, which NASA has called "one of the most distinctive objects in our skies," is located in the constellation Orion.
Astronauts Barry Wilmore and Sunita Williams say they have complete confidence in the Starliner despite questions about Boeing's safety culture.
A look back at the esteemed personalities who've left us this year, who'd touched us with their innovation, creativity and humanity.
The Francis Scott Key Bridge in Baltimore collapsed early Tuesday, March 26 after a column was struck by a container ship that reportedly lost power, sending vehicles and people into the Patapsco River.
When Tiffiney Crawford was found dead inside her van, authorities believed she might have taken her own life. But could she shoot herself twice in the head with her non-dominant hand?
We look back at the life and career of the longtime host of "Sunday Morning," and "one of the most enduring and most endearing" people in broadcasting.
Cayley Mandadi's mother and stepfather go to extreme lengths to prove her death was no accident.
Police investigate one of their own when a detective becomes a suspect in the shooting death of his wife. "48 Hours" contributor Nikki Battiste reports.
This marks the 11th year in a row that that every member of the graduating class at Southland College Prep Charter High School in suburban Chicago has been admitted to college. Noel Brennan explains the school's streak of academic excellence.
The majestic ocean liner the Queen Mary, once the playground for the rich and famous, fell into disrepair and was in danger of sinking until officials in Long Beach, California, gave it another shot. Tom Wait has more.
Basketball star Caitlin Clark made her WNBA preseason debut Friday before a sold-out crowd in Arlington, Texas. Clark finished with a team-high 21 points, but her Indiana Fever fell to the Dallas Wings 79-76.
While CIA Director William Burns and Hamas representatives were in Cairo Saturday for cease-fire talks in the Israel-Hamas war, Israel said it is not sending a delegation until the militant group replies to Israel's latest proposal. Ramy Inocencio has the latest from Tel Aviv.