Stocks rise after Fed admits more rate hikes could weaken economy
Investors are monitoring economic data for clues on inflation trajectory, with eye on Friday release of June employment numbers.
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Investors are monitoring economic data for clues on inflation trajectory, with eye on Friday release of June employment numbers.
California's gas tax will go up just as people hit the road for the holiday weekend. There's a new effort in Sacramento to try to lower prices.
Tourists are already arriving in San Francisco for Pride and local businesses say it's an important boost to the economy. Shawn Chitnis reports. (6-23-22)
Bitcoin fell below the psychologically important threshold of $20,000 on Saturday for the first time since late 2020 in a fresh sign that the selloff in cryptocurrencies is deepening.
One expert warned Friday that a solid California jobs report for May doesn't tell the full story and changing economic factors will likely make for a more challenging hiring environment later this year.
The state saw an increase of nearly 43,000 jobs last month but experts say finding a job is about to get tougher. Shawn Chitnis reports. (6-17-22)
All the major metropolitan areas in the country have seen rent prices jump back to pre-pandemic pricing levels, except for the city by the bay. Andria Borba reports. (6-16-22)
CBS News business analyst Jill Schlesinger talks about impact the Federal Reserve's .75% interest rate hike will have (6-16-2022)
"Inflation is much too high," Fed Chair Jay Powell said of the U.S. central bank's largest rate hike since 1994.
Most stocks on Wall Street dipped Tuesday in their first trading after tumbling into a bear market on worries that high inflation will push central banks to clamp the brakes too hard on the economy.
May figures show inflation rose more than 8%, the highest jump in more than four decades. Sara Donchey reports. (6-10-22)
May surge in consumer prices raises odds that the Fed will continue to sharply hike interest rates.
Tesla shares fell more than 7% on a report the CEO is considering layoffs over a "super bad feeling" about the economy.
As the San Francisco economic rebound continues, business travel is finally beginning to come back to life. Max Darrow reports. (5-19-22)
Made worse by a sharp drop in business-related bookings, hotels in San Francisco are on pace to see a $1.7 billion decline in revenue. Kenny Choi reports. (5-5-22)
It took fire crews 24 hours to extinguish the dock fire in Benicia. Now the port and the companies that use it are taking stock of the possible economic impact.
A new study by U.C. Berkeley's Terner Center for Housing Innovation found that middle-income earners in the Bay Area represent a shrinking share of the homebuying market compared to a decade ago.
A range of economic indicators for San Francisco points to good news and a strong recovery from the effects of the omicron variant of COVID-19, according to a monthly report by the city controller's office.
A plan to invest millions into refurbishing the Mare Island dry dock could lead to hundreds of new jobs in the East Bay, officials said Wednesday.
With a refinery in Torrance struggling to return to full production, prices at the gas pump inched ever closer to $6 a gallon for regular unleaded Saturday at stations across the San Francisco Bay Area.
The times, they are uncertain. People think the fight against COVID has improved dramatically in recent weeks, up double-digits, but still not good, say Americans who've now been through a few up-and-down waves.
Small businesses navigating the challenges of the pandemic say hiring workers is the latest hurdle they face almost two years since COVID-19 changed the economy.
A big change is coming to San Francisco Bay. It will now be less of a parking lot. Ships waiting to dock at the port of Oakland will now start staging 50 miles offshore. The goal is to move traffic and air pollution away from the Bay, but supply chain issues won't be leaving with them.
California's tax credit for renters may increase to account for inflation after more than 40 years, according to state Sen. Steve Glazer's office.
Businesses across the Bay Area are struggling to keep their doors open as more and more people come down with the highly infectious Omicron strain of the coronavirus.
The CDPH said an unvaccinated passenger who later was hospitalized with measles traveled around the country by train and bus, eventually moving through at least six California counties before heading to Denver, Colorado.
The San Francisco Opera's orchestra musicians are heading back to the stage after reaching a tentative four-year contract agreement with management.
A San Francisco small-business owner is picking up the pieces after four masked burglars broke into her Noe Valley running store early Sunday morning, stealing thousands of dollars worth of shoes and clothing.
In a proactive effort to prevent a major wildfire from devastating Big Basin Redwoods State Park, a dedicated group of advocates is taking decisive action.
The Alameda County Sheriff's Office released video of incident last week involving a wrong-way vehicle on Interstate Highway 580 near San Leandro, followed by a standoff and arrest of two people.
The CDPH said an unvaccinated passenger who later was hospitalized with measles traveled around the country by train and bus, eventually moving through at least six California counties before heading to Denver, Colorado.
The San Francisco Opera's orchestra musicians are heading back to the stage after reaching a tentative four-year contract agreement with management.
A San Francisco small-business owner is picking up the pieces after four masked burglars broke into her Noe Valley running store early Sunday morning, stealing thousands of dollars worth of shoes and clothing.
In a proactive effort to prevent a major wildfire from devastating Big Basin Redwoods State Park, a dedicated group of advocates is taking decisive action.
The Alameda County Sheriff's Office released video of incident last week involving a wrong-way vehicle on Interstate Highway 580 near San Leandro, followed by a standoff and arrest of two people.
The San Francisco Opera's orchestra musicians are heading back to the stage after reaching a tentative four-year contract agreement with management.
A San Francisco small-business owner is picking up the pieces after four masked burglars broke into her Noe Valley running store early Sunday morning, stealing thousands of dollars worth of shoes and clothing.
A stretch of Highway 101 through San Francisco will again be closed this upcoming weekend as construction crews perform roadwork, officials said.
A mountain lion spotted in a San Francisco neighborhood Friday morning sprinted to escape animal control personnel before it was captured shortly after.
Orchestra musicians with the San Francisco Opera have ended a nearly weeklong strike, after reaching a tentative agreement.
The Alameda County Sheriff's Office released video of incident last week involving a wrong-way vehicle on Interstate Highway 580 near San Leandro, followed by a standoff and arrest of two people.
Fire crews in Alameda battled a fire that damaged a vacant building early Thursday morning.
Claudia Atkinson started her business out of her garage in West Oakland and opened her first brick-and-mortar shop in downtown Oakland about three months ago.
A former East Bay financial advisor was sentenced on Wednesday to nine years in federal prison for running a decades-long Ponzi scheme that defrauded investors out of nearly $10 million, authorities said.
The idea of establishing a coal transport base next to the Port of Oakland isn't new, and neither is the fight it caused in West Oakland. But in July, President Trump rekindled the issue when he signed an order to give $75 million for the project.
In a proactive effort to prevent a major wildfire from devastating Big Basin Redwoods State Park, a dedicated group of advocates is taking decisive action.
Firefighters on California's Central Coast battled a fire that broke out Friday at the same power plant where a massive lithium battery fire took place last year.
A San Jose married couple and an employee were charged with running a brothel out of a Cupertino day spa business, prosecutors said on Thursday.
Firefighters battling major wildfires in California's Big Sur region are continuing to make progress, as authorities lifted evacuation orders for one of the fires Wednesday.
Mayor Matt Mahan said the new data-tracking system, UrbanLogiq, estimates that roughly 3,700 people are still living in the streets. Down from the last internal city count of just over 5,400.
More than seven years after a deadly drive-by shooting in Fairfield, two reputed gang members have been found guilty, prosecutors said Friday.
A man who was found dead at the base of a cliff in the Marin Headlands this week was identified as a resident of Placer County, authorities said on Friday.
Four people were arrested days after an assault in downtown Sonoma that left a man dead, authorities said.
A growing number of residents in two Northern California counties have been allowed to return home as firefighters increased containment on the Lucas Fire burning near the Mendocino National Forest.
A masseuse in the North Bay was arrested following the alleged sexual assaults of two customers at a massage parlor over the weekend, authorities said.
The Niners take on the team with the longest odds to win it all this season as the biggest favorites in Week 2 against the Miami Dolphins in their home opener on Sunday.
The San Jose Sharks have signed coach Ryan Warsofsky to a multiyear contact extension on the first day of training camp before his third season at the helm.
San Francisco 49ers rookie receiver De'Zhaun Stribling is expected to miss at least two months after undergoing surgery on his injured left ankle.
Quinn Mathews took a no-hitter into the sixth inning and Alec Burleson had an RBI single to lead the St. Louis Cardinals to a 2-1 victory over the San Francisco Giants.
Manny Machado hit a two-run homer and the San Diego Padres ran their winning streak to seven games with a 6-4 victory over the San Francisco Giants on Sunday night.
A San Francisco small-business owner is picking up the pieces after four masked burglars broke into her Noe Valley running store early Sunday morning, stealing thousands of dollars worth of shoes and clothing.
The Alameda County Sheriff's Office released video of incident last week involving a wrong-way vehicle on Interstate Highway 580 near San Leandro, followed by a standoff and arrest of two people.
More than seven years after a deadly drive-by shooting in Fairfield, two reputed gang members have been found guilty, prosecutors said Friday.
A Sacramento Sikh truck driver was stabbed 17 times in an unprovoked attack at a Wyoming truck stop on Sunday, his attorney says.
A San Jose married couple and an employee were charged with running a brothel out of a Cupertino day spa business, prosecutors said on Thursday.
Cybersecurity researchers said they were able to use Anthropic's Claude AI platfom to penetrate ChatGPT in "less than 72 hours."
The discussion around AI's future is enormously important and not lost on the attendees at Dreamforce conference in San Francisco.
About 43,000 people are expected to attend the annual AI and enterprise tech conference hosted by Salesforce which comes amid calls for a slowdown in AI developments.
Top OpenAI executive endorses plan that would require AI companies to submit their technology to third-party reviews to assess their safety.
Sen. Bernie Sanders is one of the most vocal opponents in Congress on rapid AI development, but bipartisan concerns are growing.
The CDPH said an unvaccinated passenger who later was hospitalized with measles traveled around the country by train and bus, eventually moving through at least six California counties before heading to Denver, Colorado.
Officials in the East Bay city of Berkeley have issued a warning to residents and doctors amid a rising number of bats that have tested positive for rabies.
Patients taking the first-of-a-kind pill, called daraxonrasib, lived for a median of 13.2 months compared with 6.7 months for chemotherapy recipients, studies showed.
Moderna and Merck announced study results that reflect a "landmark moment" in treatment for one of the deadliest forms of skin cancer.
Multiple unpermitted street food vendors in Fairfield were cited for violations last week after inspections found them selling food unsafe for public consumption, authorities said.
President Trump said Friday that he is banning CNN, MS NOW and Politico from the White House, the latest move to target media outlets over their reporting.
The executive order does not require a shutoff yet, but asks experts to consider one alongside independent audits.
In court documents filed Wednesday by Rep. Joyce Beatty, a witness said he saw a "forklift run into and hit the pillars" of the building.
Mayor Matt Mahan said the new data-tracking system, UrbanLogiq, estimates that roughly 3,700 people are still living in the streets. Down from the last internal city count of just over 5,400.
California firefighters, police officers and other public safety employees rallied at the state Capitol this week, urging Gov. Gavin Newsom to sign legislation that supporters say would allow first responders to retire earlier and improve their retirement benefits.
California Attorney General Rob Bonta has joined a coalition of 19 attorneys general in supporting a federal lawsuit challenging Idaho's law that bars transgender students from using school restrooms and other sex-separated facilities that align with their gender identity.
Berlin police did not identify the suspect, who is still at large, by name but said that he was already known to police and is from Berlin.
LGBTQ+ communities have significantly higher rates of unemployment than the general population. Kelsi Thorud reports on how the City of Oakland is empowering LGBTQ+ job seekers during Pride Month.
The fallout over the opposition by a handful of San Francisco Giants players against the team's Pride Night celebrations has prompted an investigation of Major League Baseball by the Trump administration.
Major League Baseball has warned players about writing on their uniforms after San Francisco starter Landen Roupp and two other pitchers added Bible verses to their Pride Night caps on Friday night.
Orchestra musicians with the San Francisco Opera have ended a nearly weeklong strike, after reaching a tentative agreement.
Duncan Sheik died on Thursday night, his family said.
The 78th Primetime Emmy Awards celebrated the best in television and streaming from the past year on Monday. See the full list of winners and nominees.
Performer Macklemore is being dropped from Ed Sheeran's Loop tour after making on-stage statements that some found controversial.
Dubbed the "Designer to the Stars," Bob Mackie won nine Emmy Awards, a Tony Award and was nominated for three Oscars.
Ever since the COVID-19 pandemic, the Oakland Unified School District has seen an alarming spike in the number of unhoused students in the school system who deal with a host of challenges far beyond what most children face.
Meteorologist and CBS News Bay Area's resident pilot Lt. Jessica Burch got a treat during Fleet Week, taking to the skies with one of the Blue Angels.
A Bay Area man discovered his devastating loss left him with a new opportunity to rethink how he lives -- follow his journey in virtual reality, 360-degree video.
A groundbreaking medical study involving the UCSF Medical Center has shown some colorectal cancer patients can safely skip radiation treatment and enjoy a potentially higher quality of life.
Every day, San Francisco bar pilot Captain Zach Kellerman goes through what might just be the world's most dangerous commute.
Maddie White reports.
Volunteers are working to Big Basin Redwoods State Park to help make sure any future fires don't explode in size. Brad Hamilton reports.
Drew Andre reports.
A Bay Area man who will be showing off his lowrider hopping skills in San Francisco's King of the Streets lowrider parade now has his young daughter following in his footsteps. Sooji Nam reports.
Kevin Ko reports.
In 2025, KPIX is moving to a new community service award: the CBS News Bay Area Icon Award. Submit nominations for an outstanding community hero at kpix.com/icon.
It's the most wonderful time of the year for a South Bay woman who has played Mrs. Claus for more than 40 years for the children of North San Jose's Alviso District.
For residents of the Oakland Hills, the prospect of another wildfire always remains a concern. This week's Jefferson Awards winner has made it his mission to make the hills and other high-risk areas safer.
In East Palo Alto -- where state education numbers show more than nine in ten public school students are low income and more than half are English learners -- many are finding hope and connection at the Boys & Girls Clubs of the Peninsula.
This week's Jefferson Award winner is Army veteran who continues to live a life of service into his 80s, by feeding hundreds of San Francisco families a week.
A Bay Area man who overcame tremendous obstacles to excel in school has made it his mission to gear up other students for success in the classroom and in life.
For Students Rising Above scholar Josh Collins it took moving across the country to realize the value of his Bay Area family.
Samir Hooker had to grow up fast after his stepfather was shot dead 12 years ago. Now he is watching over his mom and sister while attending UC Berkeley.
It's hard enough to graduate from one of the most prestigious schools in the country when you're the first in your family to go to college. Imagine doing that while you're also trying to protect your parents from being deported?
Some students who are the first in their families to go to college face the challenge of balancing a rigorous academic load while still working to help support their family back home.