Twitter stock plunges on prospect of legal battle with Elon Musk
After billionaire Elon Musk said that he was abandoning his $44 billion buyout, Twitter vowed to pursue him in court.
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After billionaire Elon Musk said that he was abandoning his $44 billion buyout, Twitter vowed to pursue him in court.
The hospitality sector in San Francisco is recovering jobs and the labor market is hot, but a recession may be coming, comments from the city's chief economist and the most recent report from the city Controller's Office reveal.
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.
