Here are the latest tech layoffs as the industry shudders
Tech companies large and small are slashing their payrolls, fearing a recession is on the way. Here's a running list.
Federal Reserve
Dow Jones plummets after inflation report
The Dow Jones closed in the red Thursday, with rising producer prices expected to fuel inflation. Nancy Davis, founder and and chief investment officer for Quadratic Capital Management, joined CBS News to break down what the rising prices mean for investors going forward.
More companies to report Q4 earnings
The stock market saw a sharp rise Monday ahead of the release of the January Consumer Price Index report, and as the last round of large companies prepare to release their 2022 fourth-quarter earnings. Landsberg Bennet Private Wealth Management chief investment officer Michael Landsberg joined CBS News to discuss what the developments mean for investors.
Why tech workers are getting laid off
Yahoo is the latest tech company to announce mass layoffs. Courtenay Brown, an economics reporter for Axios, joins CBS News' Errol Barnett and Elaine Quijano to discuss what's behind the layoffs, why they are happening amid historically low unemployment numbers and how the layoffs could affect the Federal Reserve.
Biden touts progress on economy
Jared Bernstein, a member of the White House Council of Economic Advisers, joined CBS News to discuss the optimistic message in President Biden's State of the Union address and the state of the American economy.
Parties clash on debt limit ahead of address
Prominent Democrats and Republicans on both sides of the aisle are clashing on how to raise the debt ceiling. CBS News reporter Sarah Ewall-Wice discusses how politicians and the public view the debt ceiling.
U.S. hiring surged in January
President Biden is highlighting January's job report after it soared past economists' predictions. Jeanna Smialek, a financial reporter at The New York Times, joins CBS News to discuss what the numbers mean for the state of the U.S. economy and future Fed moves.
January jobs report surpasses expectations
The January jobs numbers crushed expert expectations, with more 517,000 new jobs being reported last month. In addition, the unemployment rate fell to its lowest level in more than 50 years. CBS News business analyst Jill Schlesinger has more.
Investors react to strong January jobs report
The January jobs report showed unemployment at its lowest since 1969, but investors fear the hot economy will bring further interest rate hikes from the Federal Reserve. Lori Bettinger, president of Bancalliance, joined CBS News to discuss why the prospect of a soft landing is looking more likely.
Fed hikes interest rates by a quarter-point
As it continues efforts to combat inflation, the Federal Reserve on Wednesday increased interest rates by a quarter-point. In a statement, the Fed said that further hikes are likely.
Biden, McCarthy meet to discuss debt ceiling
President Biden and House Speaker Kevin McCarthy met Wednesday to discuss the debt ceiling and open the door for budget cut negotiations. David Wessel, director of the Hutchins Center on Fiscal and Monetary Policy at the Brookings Institution, joins CBS News' John Dickerson to discuss what it would take to balance the budget and what that would do to the economy.
Federal Reserve raises interest rates again
Javier David, a managing editor of business and markets for Axios and a CBS News contributor, joins Lana Zak and Elaine Quijano as the Federal Reserve announces it is raising rates for the eighth time over the course of a year. He explains why the central bank decided on the quarter-point increase and what it means for the U.S. economy.
Federal Reserve hikes interest rates 0.25 percentage point
While the central bank is slowing its rate increases, Jerome Powell told investors not to expect lower rates this year.
Stocks rise after Fed acknowledges "disinflationary process"
"We will need substantially more evidence to be confident that inflation is on ... downward path," said Fed Chair Jerome Powell
How the Fed's latest interest rate hike affects your money
Because inflation is easing, Fed is increasing rates at slower pace. But borrowing will still be more expensive.
Fed expected to raise interest rates again
The Federal Reserve is expected to announce another interest rate hike today, but the increase is expected to be lower than previous hikes that began in March 2022. Fed Chairman Jerome Powell will address the media this afternoon. CBS News reporter Sarah Ewall-Wice joins us to discuss the significance.
Stocks finish higher on encouraging GDP numbers
The Dow Jones ended in the green Thursday following a report that showed the U.S. gross domestic product rose 2.9% in the fourth quarter of 2022. Kayla Bruun, economic analyst for Morning Consult, joined CBS News to discuss what the latest GPD data could mean to the economy.
U.S. GDP grew 2.9% in final quarter of 2022
The economy is fighting back against inflationary pressures, but many economists say that won't last, and the economy could slow down in 2023 as an intended consequence of the Federal Reserve's efforts to rein in inflation by raising interest rates. Economist and Harvard University professor Jeffrey Frankel joined CBS News to discuss what the latest GDP data could mean for the economy moving forward.
How interest rates affect the tech industry
As tech companies cutting thousands of jobs this month, CBS News correspondent Vladimir Duthiers discusses how the Federal Reserve's interest rate hikes have contributed to the industry's financial woes.
NYSE experiences technical issue
The New York Stock Exchange experienced a technical issue early on Tuesday, temporarily halting trading for more than 80 companies. Dan DeFrancesco, finance editor for Insider, joined CBS News to recap the day for the markets, and what the latest Justice Department antitrust lawsuit against Google could mean for the tech industry.
U.S. economy is slowing to stall speed, recession gauge shows
Conference Board index has fallen 10 months in a row, indicating a recession is likely sometime this year.
Treasury takes action as U.S. hits debt ceiling
The U.S. officially reached the debt limit on Thursday, and the Treasury Department says it has begun taking "extraordinary measures" to maintain the full faith and credit of the United States. It sets up a showdown that could put the entire U.S. economy at risk. Scott MacFarlane has more.
Here's when the U.S. could crash through the debt ceiling
Hitting "Date X" without raising the debt ceiling could lead the U.S. to default on its debt for the first time in its history.
Inflation is cooling, Fed Vice Chair Lael Brainard says
But central bank will have to keep interest rates elevated "for some time" to keep a lid on price increases, official notes.
Dow drops on negative retail sales report
The Dow Jones dropped more than 600 points Wednesday following the release of the December retail sales report by the U.S. Commerce Department. Kayla Bruun, an economic analyst for "Morning Consult", joined CBS News to provide her reaction to the report.
Trump extends ceasefire in Iran indefinitely
President Trump said he's extending the ceasefire until Iran has submitted a proposal in talks with the U.S. "and discussions are concluded."
Cherfilus-McCormick resigns from Congress before hearing on sanctions
The Florida Democrat stepped down shortly before a House Ethics Committee hearing to determine whether she should be punished.
Live
Trump extends ceasefire as uncertainty over U.S.-Iran peace talks remains
With a two-week ceasefire set to expire and Iran balking at the resumption of peace talks, President Trump said he would be extending the deadline to allow for Iran to "come up with a unified proposal."
Kevin Warsh testifies that the Fed will remain "strictly independent"
Warsh, nominated by President Trump to replace Fed Chair Jerome Powell, also said he'll work with the White House on some matters.
FBI investigating deaths, disappearances of staff at government labs
The disappearances and deaths of 10 government workers tied to nuclear or space technology have sparked speculation online. President Trump said the cases are "hopefully, coincidence."
Will gas dip below $3 a gallon this year? Here's what experts think.
It could take months for U.S. gas prices to recede to their level before the outbreak of war in Iran, economists and energy experts say.
NATO intercepts Russian bombers and fighter jets over Baltic Sea
The Russian mission included two supersonic Tu-22M3s, as well as about 10 fighters, the French detachment said.
Hegseth scraps mandatory flu shots for troops
Defense Secretary Pete Hegseth said U.S. service members will no longer be required to get annual flu shots.
Virginia Democrats seek 10-1 congressional map with voter referendum
The referendum is seeking to amend the state's constitution to use the Democratic-controlled Assembly's redrawn congressional maps, which will give Democrats an advantage in 10 of the state's 11 House districts.
U.S.
More U.S.
Trump extends ceasefire in Iran indefinitely
President Trump said he's extending the ceasefire until Iran has submitted a proposal in talks with the U.S. "and discussions are concluded."
UPS, FedEx and DHL file for tariff refunds. What it means for consumers.
Shippers have pledged to share refunds with customers who paid tariffs once the government issues refunds.
Will gas dip below $3 a gallon this year? Here's what experts think.
It could take months for U.S. gas prices to recede to their level before the outbreak of war in Iran, economists and energy experts say.
Cherfilus-McCormick resigns from Congress before Ethics hearing on sanctions
The Florida Democrat stepped down shortly before a House Ethics Committee hearing to determine whether she should be punished.
Senate GOP unveils budget resolution, kickstarting process to fund ICE
Senate Republicans unveiled a budget resolution to begin the process of funding immigration agencies under DHS without help from Democrats.
MoneyWatch
More MoneyWatch
UPS, FedEx and DHL file for tariff refunds. What it means for consumers.
Shippers have pledged to share refunds with customers who paid tariffs once the government issues refunds.
Will gas dip below $3 a gallon this year? Here's what experts think.
It could take months for U.S. gas prices to recede to their level before the outbreak of war in Iran, economists and energy experts say.
Kevin Warsh testifies that the Fed will remain "strictly independent"
Warsh, nominated by President Trump to replace Fed Chair Jerome Powell, also said he'll work with the White House on some matters.
Who will run the Federal Reserve if the Senate doesn't confirm Trump's pick?
President Trump is fighting to reshape the Federal Reserve by replacing Chair Jerome Powell with Kevin Warsh — but if the Senate doesn't confirm Warsh by next month, it's not clear who will run the nation's central bank.
Uber found liable for actions of driver who grabbed passenger's inner thigh
The so-called bellwether case is part of a broader group of sexual assault lawsuits filed against Uber in multiple jurisdictions around the country and is the third to go to trial.
Politics
More Politics
Trump extends ceasefire in Iran indefinitely
President Trump said he's extending the ceasefire until Iran has submitted a proposal in talks with the U.S. "and discussions are concluded."
Cherfilus-McCormick resigns from Congress before Ethics hearing on sanctions
The Florida Democrat stepped down shortly before a House Ethics Committee hearing to determine whether she should be punished.
Senate GOP unveils budget resolution, kickstarting process to fund ICE
Senate Republicans unveiled a budget resolution to begin the process of funding immigration agencies under DHS without help from Democrats.
Hegseth scraps mandatory flu shots for troops
Defense Secretary Pete Hegseth said U.S. service members will no longer be required to get annual flu shots.
Southern Poverty Law Center facing DOJ probe over use of paid informants
The Justice Department is investigating the Southern Poverty Law Center in connection with a now-defunct program that used paid informants to infiltrate extremist groups.
HealthWatch
More HealthWatch
Food stamp work rules don't increase employment, researchers say
Work requirements will encourage people who are able to work to seek and maintain jobs, proponents say. But researchers haven't found that they lower the unemployment rate.
New CDC pick may face "threat to follow ideology over evidence," ex-official says
Former Trump Surgeon General Dr. Jerome Adams described Dr. Erica Schwartz as a "home run pick."
Trump signs executive order to research psychedelics for mental health
The order will open the door for more research into psychedelic drugs, including ibogaine, sources told CBS News earlier this week.
Mom's labor turns into fight for life after 1 symptom: "I think I'm about to die"
Casey Gould wanted to be a mom her whole life. Her long-awaited pregnancy went smoothly — until she saw something alarming.
Dr. Erica Schwartz nominated for CDC director
President Trump nominated a new director for the Centers for Disease Control and Prevention on Thursday. Dr. Erica Schwartz is a former deputy surgeon general and retired Coast Guard rear admiral.
World
More World
Trump says U.K.'s Starmer can "recover" as Epstein scandal hits him again
Trump says British leader Keir Starmer has "time to recover" from the latest scandal over his decision to tap an Epstein associate as his U.S. ambassador.
Iran war shows "era of fossil fuel security is over," says U.K energy secretary
President Trump recently encouraged the U.K. to "drill baby, drill" in the oil-rich North Sea.
NATO intercepts Russian bombers and fighter jets over Baltic Sea
The Russian mission included two supersonic Tu-22M3s, as well as about 10 fighters, the French detachment said.
Mass murder trial in El Salvador for almost 500 alleged MS-13 members
Nearly 500 alleged MS-13 members, including several alleged leaders, are on trial collectively in El Salvador, accused of thousands of murders.
Live
Trump extends ceasefire as uncertainty over U.S.-Iran peace talks remains
With a two-week ceasefire set to expire and Iran balking at the resumption of peace talks, President Trump said he would be extending the deadline to allow for Iran to "come up with a unified proposal."
Entertainment
More Entertainment
Entertainment
Opening statements in Weinstein rape retrial
Opening statements have concluded in Harvey Weinstein's New York rape retrial. CBS News' Jericka Duncan has more.
D4vd charged with murder in14-year-old's death
Singer D4vd appeared in court Monday, hours after prosecutors announced he would be charged with first-degree murder in the death of 14-year-old Celeste Rivas Hernandez. Matt Gutman reports.
Details on charges against D4vd in teen's death
Los Angeles prosecutors on Monday charged singer D4vd in the murder of a 14-year-old girl whose dismembered body was found in his car last year. CBS News chief correspondent Matt Gutman has the details.
What to know on the "Matlock" season finale
"Matlock" stars Skye P. Marshall and Jason Ritter join CBS News with more clues ahead of the show's season finale.
Indigo Girls' member reveals incurable medical disorder affecting her voice
Emily Saliers, one-half of the Atlanta folk duo The Indigo Girls, has revealed that she has been diagnosed with two incurable movement disorders that will forever change the way that she sings.
Technology
More Technology
Technology
How Tim Cook's Apple exit impacts big tech
Tim Cook announced he's stepping down as Apple CEO after nearly 15 years. Anna Rathbun, the CEO and founder of Grenadilla Advisory, joins with more.
Major change at Apple
Apple CEO Tim Cook announced he is stepping down from his leadership role running one of the world's biggest companies. CBS News contributor Patrick McGee joins CBS News with more details.
How AI powered robots are helping small farms
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.
Tim Cook to step down as Apple CEO
Tim Cook, who has been with Apple for nearly three decades and has served as the company's CEO for 15 years, will step down in September and stay on as chairman. The tech giant announced Monday who will replace Cook. Jo Ling Kent reports.
Tim Cook to step down as Apple CEO
After 15 years, Tim Cook is stepping down as Apple's CEO. Starting in September, Cook will be the executive chairman of Apple's board of directors. New York Times technology correspondent Mike Isaac joins CBS News to discuss.
Science
More Science
Mars rover carries out chemistry experiment never done beyond Earth
"This experiment's never been run before on another world," said Amy Williams, an astrobiologist working on the Curiosity mission.
Cementing a more sustainable alternative to concrete
The process of making 30 billion tons of concrete every year produces more carbon pollution than all the world's ships and planes put together. Now, the North Carolina and Denmark-based Biomason is using biotechnology, including naturally-occurring microbes, to create "biocement" that's just as sturdy but emits much less CO2. David Pogue reports.
Breeding a better bread
Over the past century, the cultivation and processing of wheat has led to strains of grain that are less nutritious, less flavorful, and more vulnerable to climate change. The researchers at Breadlab, at Washington State University, are trying to breed varieties of whole grains that are better for farmers, consumers – and taste buds. David Pogue reports.
Using the ocean to power data centers
The renewable energy company Panthalassa says it has a solution to the proliferation of AI data centers, which consume massive amounts of energy and are the cause of increased carbon pollution: sea-based data centers, powered by wave energy.
Using the ocean to power data centers
The renewable energy company Panthalassa says it has a solution to the proliferation of AI data centers, which consume massive amounts of energy and are the cause of increased carbon pollution: sea-based data centers, powered by wave energy. Correspondent David Pogue examines what Panthalassa's alternative to land-based data centers may mean.
Crime
More Crime
Crime
D4vd pleads not guilty to first-degree murder
Singer and songwriter D4vd is facing several charges linked to the death of 14-year-old Celeste Rivas Hernandez. CBS News' Matt Gutman has the latest.
Weinstein faces third rape trial in New York
Disgraced Hollywood mogul Harvey Weinstein will be in a Manhattan courtroom on Tuesday for trial. He is accused of third-degree rape. CBS News' Jericka Duncan reports.
Shooting at Mexico's Teotihuacán pyramids
A Canadian tourist was killed, and 13 others were injured, during a shooting at the popular Teotihuacán pyramids in Mexico, officials confirmed. CBS News' Bradley Blackburn reports.
D4vd charged with murder, pleads not guilty
Singer D4vd pleaded not guilty Monday to first-degree murder in the death of 14-year-old Celeste Rivas Hernandez. If convicted he could face the death penalty.
Mass murder trial in El Salvador for almost 500 alleged MS-13 members
Nearly 500 alleged MS-13 members, including several alleged leaders, are on trial collectively in El Salvador, accused of thousands of murders.
Space
More Space
Mars rover carries out chemistry experiment never done beyond Earth
"This experiment's never been run before on another world," said Amy Williams, an astrobiologist working on the Curiosity mission.
Blue Origin New Glenn rocket puts satellite payload into wrong orbit
The launching appeared to go off without a hitch, but a problem prevented the rocket's upper stage from putting its payload into the correct orbit.
Artemis II crew on historic moon mission and what it means for Earth
"We are carrying back everything we learned, not only about where we went but ourselves," mission specialist Christina Koch told "CBS Evening News" anchor Tony Dokoupil.
Artemis II astronauts still awed by moonshot experience: "It was otherworldly"
The four Artemis II astronauts struggled to describe the view and overall experience of flying around the moon's far side and witnessing a solar eclipse in deep space.
"God of chaos" asteroid will pass close to Earth in 3 years, NASA says
People on the ground in the Eastern Hemisphere will be able to observe the asteroid with their own eyes, weather permitting, according to NASA.
Latest Galleries
More Latest Galleries
Notable Deaths in 2026
A look back at the esteemed personalities who've left us this year, who'd touched us with their innovation, creativity and humanity.
Evidence in the Barbara Kendhammer case
Does the evidence show a cover-up, or was Todd Kendhammer wrongfully convicted for the murder of his wife?
The life & near death of prizefighter Christy Salters-Martin
Christy Salters-Martin dominated in the boxing ring but faced her toughest challenger at home.
Timeline: The disappearance of George Smith
Family seeks answers in death of newlywed who disappeared in 2005 while on Mediterranean honeymoon cruise.
Who is Alix Tichelman?
Meet the tattooed beauty charged in the death of Google executive Forrest Hayes.
Latest CBS News Videos
More Latest CBS News Videos
Latest CBS News Videos
Trump extends Iran ceasefire until talks wrap
Hours before the Iran ceasefire was set to expire on Tuesday, President Trump announced he extended the truce until "discussions are concluded." CBS News White House reporter Olivia Rinaldi has the latest.
Virginia redistricting election underway
Virginia voters are headed to the polls Tuesday for a special election that would redraw the state's congressional district map. CBS News' Fin Gomez has more.
Rep. Sheila Cherfilus-McCormick resigns
Democratic Rep. Sheila Cherfilus-McCormick of Florida resigned from Congress Tuesday moments before a House Ethics Committee meeting to determine whether any punishment was warranted for her alleged misconduct. She has been charged with stealing nearly $5 million in Federal Emergency Management Agency funds for her campaign and pleaded not guilty.
Opening statements in Weinstein rape retrial
Opening statements have concluded in Harvey Weinstein's New York rape retrial. CBS News' Jericka Duncan has more.
Early takeaways from Kevin Warsh hearing
Kevin Warsh, President Trump's nomination for chair of the Federal Reserve, told senators Tuesday that the central bank would remain "strictly independent." CBS News' Taurean Small reports on the hearing.