Saudi Arabia cutting oil output in move that could raise gas prices
The Saudi cut of 1 million barrels per day comes as the other OPEC+ producers agreed to extend earlier production cuts through next year.
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The Saudi cut of 1 million barrels per day comes as the other OPEC+ producers agreed to extend earlier production cuts through next year.
The U.S. averted disaster by raising the debt ceiling, but a mild recession is still possible even as job numbers remain hot, according to the head of Bank of America. Mark Strassmann breaks down how the U.S. economy is doing.
President Biden Saturday signed a bipartisan bill that will suspend the nation's debt ceiling and avoid what could have been a catastrophic government default. Christina Ruffini has more.
Nevada lawmakers questioned whether a proposal to subsidize a new MLB stadium with tax credits and bonds would further jolt Las Vegas' economy.
President Biden and House Speaker McCarthy both expressed optimism that they would be able to get their respective parties on board for the debt ceiling plan they negotiated. Natalie Brand has the latest.
A new survey finds that far fewer Americans are moving for work -- just 1.6% of job seekers moved in the first quarter of 2023, compared to 45% in 1986. CBS MoneyWatch associate managing editor Irina Ivanova explains the possible reasons behind the shift.
Some shops are saying they are facing an extinction event.
Over the past three and a half years or so, the majority of cities across the Bay Area have seen population declines. But in the South Bay city of Santa Clara, that's not the case.
As Nordstrom becomes the latest corporation to pull up stakes in downtown San Francisco to search for greener pastures, small businesses trying to survive often don't have that luxury. Jose Martinez reports on one such business.
Gary Cohn, the former top economic adviser in the Trump White House and who is now vice chairman of IBM, tells "Face the Nation" that he believes the impending sale of troubled bank First Republic "will be a much faster process" than what happened with Silicon Valley Bank. But he says this is a "seismic moment" for the American people and whether they trust their banks.
Mired in a prolonged sales slump, the retail chain has struggled to attract customers both in stores and online.
After cutting U.S. vehicle prices four times this year, Tesla raised the cost overnight on its slow-selling more expensive models.
With a growing number of vacant storefronts in downtown San Francisco, the City's Office of Economic and Workforce Development and non-profit SF New Deal have launched a new initiative called "Vacant to Vibrant," with a hope of re-energizing the neighborhood with pop-up experiences.
The Federal Reserve's bank supervisors informed Silicon Valley Bank's management as early as the fall of 2021 of risks stemming from its unusual business model, a top Fed official said, but the bank's managers failed to take the steps necessary to fix its problems.
The recent storms have put a dent in the drought, but they've also flooded precious farmland, ruining mile after mile of crops across the state. But even at farms that didn't flood, they are still harvesting challenges.
The nation's top financial regulator is asserting that Silicon Valley Bank's own management was largely to blame for the bank's failure earlier this month and says the Federal Reserve will review whether a 2018 law that weakened stricter bank rules also contributed to its collapse.
Team coverage of the shocking bank failure which has rocked the Bay Area tech community. Anne Makovec and Elizabeth Cook report. (3-10-23)
Mark Lehmann, CEO of JMP Securities, a Citizens Company, joined CBS News on Friday to discuss the state of the tech industry and the U.S. economy after the closing bell on Wall Street.
Although used-car prices are finally coming down, small dealerships are still struggling to meet demand. Kenny Choi reports. (2-17-23)
Sammy's on Second St. is one of the few remaining delis in San Francisco's financial district. It was hit hard during the pandemic and still hasn't fully recovered. Lauren Toms reports. (2-9-23)
Nicole D'Antonio reports on President Biden speaking to union workers about the economy after a sometimes heated State of the Union address (2-8-2023)
2022 proved to be a record year at the gas pump. While 2023 is just getting started, some experts believe there won't be as much pain at the pump.
House Speaker Kevin McCarthy said Friday he has accepted an invitation from President Biden to meet and discuss the standoff over raising the debt ceiling. Megan Greene, a senior fellow at Brown University, and global chief economist at Kroll, joined CBS News to discuss the far-reaching impact of the stalemate.
Last-minute shoppers in San Francisco's Union Square are likely to run into picket lines at Macy's Friday due to a strike by employees at the store.
Elizabeth Cook reports on employees at the San Francisco Macy's store going on strike until Christmas Eve (12-23-2022)
Under the deal, master developer Brookfield Residential, the city, and the Navy would all become partners in the development, sharing in the profits
The shooting happened around 4 p.m. in a parking lot on the 2800 block of Stevens Creek Boulevard, near Westfield Valley Fair mall.
Community members packed Fairfield City Hall's chambers on Tuesday to voice their outrage after a police officer was caught on camera punching a student in the head last week.
One man suspected of robbery and two others of buying stolen goods were arrested in San Francisco last week after they were tracked down within minutes using surveillance footage, police said.
Authorities in Northern California alerted residents on Tuesday about an invasive species found on plants from Costco that could threaten the vineyards and other agriculture in the region.
Under the deal, master developer Brookfield Residential, the city, and the Navy would all become partners in the development, sharing in the profits
The shooting happened around 4 p.m. in a parking lot on the 2800 block of Stevens Creek Boulevard, near Westfield Valley Fair mall.
Community members packed Fairfield City Hall's chambers on Tuesday to voice their outrage after a police officer was caught on camera punching a student in the head last week.
One man suspected of robbery and two others of buying stolen goods were arrested in San Francisco last week after they were tracked down within minutes using surveillance footage, police said.
Authorities in Northern California alerted residents on Tuesday about an invasive species found on plants from Costco that could threaten the vineyards and other agriculture in the region.
One man suspected of robbery and two others of buying stolen goods were arrested in San Francisco last week after they were tracked down within minutes using surveillance footage, police said.
Harry Williams has developed real bonds with many of the people he photographs. Some of them have taken him up into their SRO's to get a glimpse of their lives, and to show him what they've put up on their walls.
Fire crews responded around 5:20 p.m. to a three-story building and were able to extinguish the fire just before 6:20 p.m.
It's the final stretch for Caltrans along 19th Avenue in San Francisco, as crews are wrapping up the corridor's pavement rehabilitation project in San Francisco.
One person was left with life-threatening injuries after they were stabbed in San Francisco's Mission District on Sunday afternoon, police said.
Under the deal, master developer Brookfield Residential, the city, and the Navy would all become partners in the development, sharing in the profits
A vigil was held on Monday by friends and family of Amy Hillyard, two months after the Oakland mother and coffee shop owner mysteriously disappeared.
An investigation is underway following a shooting on Interstate 80 in Richmond over the Memorial Day holiday.
All eastbound I-80 lanes, just west of Portal Drive, were blocked around 8:45 p.m., and California Highway Patrol officers were diverting traffic to El Portal Drive.
A person died from injuries following a stabbing in Oakland over the weekend, police said.
The shooting happened around 4 p.m. in a parking lot on the 2800 block of Stevens Creek Boulevard, near Westfield Valley Fair mall.
Two men were arrested by law enforcement in Monterey County this week as part of an investigation into an organized rental construction equipment theft ring, authorities said.
A Santa Clara County juvenile court judge found a 14-year-old guilty of second-degree murder in the stabbing death of a 15-year-old at Santana Row in San Jose, prosecutors said.
Two Milpitas smoke shops have been cited for allegedly selling illegal products, including the highly-addictive substance kratom, from two smoke shops in Milpitas following concerns raised by community members.
A person suspected in multiple incidents of hateful graffiti found on the campus of San Jose State University has been arrested.
A vigil was held on Monday by friends and family of Pearl Pinson, 10 years after the Vallejo teen disappeared on her way to school.
A man who called 911 repeatedly asking for help in Santa Rosa and who had climbed atop of a bus in Santa Rosa spent the next 10 hours perched atop the bus before officers were able to safely bring him down, police said.
The last year has been a hard time for the campus in general, due to huge budget cuts to sports and academic programs. But now there seems to be a renewed sense of optimism, not just for the graduates, but for the future of the university, as well.
Vallejo Fire crews responded just before 1:30 a.m. to a two-alarm structure fire at the former Grant School.
A high school teacher in Marin County was arrested and suspended from his job over alleged sexual misconduct involving a minor, police said.
The squad was announced during an event in New York City on Tuesday after U.S. Men's National Team manager Mauricio Pochettino spent months evaluating players to finalize the roster.
Gabby Williams scored 15 points, Kaila Charles added 12 points and seven rebounds, and the Golden State Valkyries ran away from the Connecticut Sun for a 97-70 win.
Ketel Marte had four hits, including a tying double in the fifth inning and a two-run single in the sixth, and Merrill Kelly pitched seven strong innings to win his fourth straight start as the surging Arizona Diamondbacks beat the San Francisco Giants 6-2.
The Golden State Valkyries are looking to keep pace with the WNBA Western Conference leaders with a matchup against the Connecticut Sun Monday evening at Ballhalla.
Rafael Devers hit San Francisco's third grand slam in a seven-day span, a tiebreaking, fifth-inning drive that led the Giants over the Chicago White Sox 8-5.
The shooting happened around 4 p.m. in a parking lot on the 2800 block of Stevens Creek Boulevard, near Westfield Valley Fair mall.
One man suspected of robbery and two others of buying stolen goods were arrested in San Francisco last week after they were tracked down within minutes using surveillance footage, police said.
A vigil was held on Monday by friends and family of Pearl Pinson, 10 years after the Vallejo teen disappeared on her way to school.
A vigil was held on Monday by friends and family of Amy Hillyard, two months after the Oakland mother and coffee shop owner mysteriously disappeared.
An investigation is underway following a shooting on Interstate 80 in Richmond over the Memorial Day holiday.
In his "Magnifica Humanitas" encyclical, Pope Leo warns that as civilization grapples with the power of AI, the main challenge is remaining "profoundly human."
The Waymo sped through a construction zone, was chased by police, then veered off the highway into a residential neighborhood during a ride from San Mateo to San Francisco.
Amid concern about AI taking jobs, people see a range of motives by AI companies.
AI tools that autonomously perform tasks for users mark a major step forward from chatbots, according to tech experts.
The first major step in saving the whales from ship strikes officially launched this week. A group of marine mammal experts gathered in San Francisco to launch Whale Spotter.
WHO chief Tedros Adhanom Ghebreyesus says risks from the Ebola outbreak in Congo and Uganda are "high at the national and regional levels, and low at the global level."
The cruise ship hit by a deadly hantavirus outbreak has docked at the Dutch port of Rotterdam for disinfection, wrapping up a troubled journey that put world health authorities on alert.
At least 80 deaths have been reported in a new Ebola disease outbreak in Congo and Uganda, authorities said.
California public health officials said on Wednesday that they have identified a fifth resident who may have been exposed to the Andes hantavirus due to the outbreak on the MV Hondius cruise ship.
Health officials in Napa County are warning the public not to eat wild mushrooms after three people were poisoned.
Supporters of a regional sales tax measure to fund Bay Area transit said they have enough signatures to put the issue before voters in the upcoming November election.
Florida sought to sue Washington and California for allegedly issuing commercial driver's licenses to undocumented immigrants.
President Trump on Tuesday underwent a "6 month physical" at Walter Reed National Military Hospital, he posted on social media.
The Justice Department acknowledges it has removed from its website news releases about criminal cases related to the Jan. 6, 2021 riot, calling the information "partisan propaganda."
"I think it's just disrespectful to those that I served with who didn't come back," a veteran suing to stop construction of the arch told CBS News.
Jason Collins, the NBA's first openly gay player, who went on to become a pioneer for inclusion and an ambassador for the league, has died, his family announced Tuesday.
Philz Coffee will once again sport the Pride flag at its cafés after a directive to have them and other flags removed created a backlash.
The Trump administration agreed to restore the Stonewall National Monument's Pride flag in Greenwich Village after it was removed.
Philz Coffee's move to remove the Pride flag and all other flags from their stores is brewing up some strong reaction.
Transgender women athletes are now excluded from women's events at the Olympics after the IOC agreed to a new eligibility policy on Thursday.
This year's theme is La Copa Del Pueblo — The People's Cup, which celebrates soccer, the people who play it, and "honors the joy found in dusty fields, neighborhood parks, and busy city streets, where the game belongs to everyone and every goal feels like a shared victory."
Opera singer Tim Blevins performs regularly outside San Francisco's Orpheum Theatre, where his powerful voice has become familiar to many passing through the Civic Center neighborhood.
A former KFC - Taco Bell restaurant in San Francisco's Mission District is getting a new life, this time as a music studio aimed at supporting independent artists.
After nearly a century on the air, CBS News Radio signed off, with the final reports airing on Friday, May 22.
Stephen Colbert hosted "The Late Show" for the final time Thursday night as the franchise came to an end after 33 years.
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.
Kevin Ko reports on a Healdsburg business that is temporarily closed for repairs.
John Ramos reports on a plan to turn the old weapons station into a 12,000-home community.
Brad Hamilton reports on voter turnout in the Bay Area.
Drew Andre reports on scrutiny over an officer's violent confrontation with two separate teens.
A local business in San Jose's Japantown is serving up more than just a sweet treat. At Pau Hana Shave Ice, a former corporate exec has turned his Hawaiian side hustle into a full-time family business. Len Ramirez 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.