×

Business

GM wants to test self-driving cars across all of California

DETROIT (AP) — General Motors' Cruise autonomous vehicle unit on Monday asked California for permission to test the cars across the entire state. The GM subsidiary already is running an autonomous ride-hailing service in its hometown of San Francisco after testing for more than two years. It ...

UBS to buy Credit Suisse for nearly $3.25B to calm turmoil

GENEVA (AP) — Banking giant UBS is buying troubled rival Credit Suisse for almost $3.25 billion, in a deal orchestrated by regulators in an effort to avoid further market-shaking turmoil in the global banking system. Swiss authorities pushed for UBS to take over its smaller rival after a ...

Big banks create $30B rescue package for First Republic

NEW YORK (AP) — Eleven of the biggest U.S. banks Thursday announced a $30 billion rescue package for First Republic Bank in an effort to prevent it from becoming the third to fail in less than a week and head off a broader banking crisis. San Francisco-based First Republic serves a similar ...

US inflation eases but stays high, putting Fed in tough spot

WASHINGTON (AP) — U.S. consumer price increases eased slightly from January to February but still pointed to an elevated inflation rate that is posing a challenge for the Federal Reserve at a delicate moment for the financial system. The government said Tuesday that prices increased 0.4% ...

Government races to reassure US that banking system is safe

NEW YORK (AP) — Depositors withdrew savings and investors broadly sold off bank shares Monday as the federal government raced to reassure Americans that the banking system was secure after two bank failures fed fears that more financial institutions could fall. President Joe Biden insisted ...

US government takes steps against possible bank crisis

NEW YORK (AP) — The U.S. government took extraordinary steps Sunday to stop a potential banking crisis after the historic failure of Silicon Valley Bank, assuring all depositors at the failed institution that they could access all their money quickly, even as another major bank was shut ...