FOX News

Startup Kinder Beauty, which put the entirety of its funds in Silicon Valley Bank, was thrown a lifeline this week when Shopify wired the company the money needed to make payroll.  The online business geared toward selling cruelty-free and vegan beauty boxes does all of its banking with SVB, which collapsed […]

While some observers fear federal officials’ actions following the collapse of Silicon Valley Bank and Signature Bank will fuel a”moral hazard,” one former Federal Deposit Insurance Corporation chair cautions the U.S. banking system is nearing another “Bear Stearns moment.” “I think this is more of a Bear Stearns moment. I […]

Rioters took to the streets in France again Friday to demonstrate against President Emmanuel Macron’s attempt to raise the retirement pension age without going through the national assembly.  More than 300 people were arrested in the chaos as garbage was lit on fire, traffic was blocked and sanitation workers extended their […]

The U.S. housing market posted the first year-over-year decline in home prices since 2012 as a result of higher mortgage rates.  That’s according to a new report from real estate brokerage firm Redfin, which showed that the median U.S. home sale price fell 1.2% in February from the previous year. […]

Deputies and first responders in Texas responded to a small plane crash that happened on Friday. Texas Department of Public Safety troopers responded to the area of CR 2500 and East CR 7300 in Lubbock, Texas, at around 11:30 a.m, where a small plane crashed, according to Fox 34. According […]

Gas prices dodged the market turbulence that has rocked the stock and oil markets, according to the latest report from AAA. The national average cost for a gallon of gas held steady at $3.46, even as oil prices plunged to levels not seen since August 2021, AAA said. Gas prices could drop in […]

Banks rushed to take advantage of the Federal Reserve’s emergency lending program this week, borrowing the most since 2008 amid widespread panic about the financial sector. The latest data published by the Fed shows that banks borrowed $11.9 billion from the new emergency backstop known as the Bank Term Funding […]

President Biden spoke out in favor of tougher penalties for bank executives who drive institutions to failure through mismanagement. Biden released the statement Friday afternoon, reflecting on the collapse of Silicon Valley Bank and Signature Bank. “This week, we took decisive action to stabilize the banking system without putting taxpayer […]

Subscribers to Walt Disney Co.’s flagship Disney+ streaming service barely blinked at a 38% price increase that the company imposed in December as part of its launch of an ad-supported streaming product. About 94% of subscribers to the old, ad-free Disney+ service stayed with the product at a higher price […]

General Electric Co. said it canceled stock awards for Chief Executive Officer Larry Culp originally valued at $20 million, saying the company had failed to reach minimum performance thresholds necessary for the executive to take full title to the shares. The move, made by the board last month, wiped out […]