Tag: AP Top News

  • The collapse of the Silicon Valley Bank worries the founding fathers of color

    In the hours after some of Silicon Valley Bank’s largest clients began raising their funds, a WhatsApp group of startup founders who are immigrants of color grew to more than 1,000 members. Questions poured in as the bank’s financial status deteriorated. Some desperately sought advice: Could they open an account with a larger bank without […]

  • Bank failures: fury in Congress, but division over what to do

    WASHINGTON (AP) — Bills were filed, hearings scheduled and blame laid as Congress reacted to the abrupt bankruptcy of two banks last week. A look at what lawmakers are saying and planning as the fallout from the collapse of Silicon Valley Bank and Signature Bank continues. QUICK LEGAL FIXES LIKELY While President Joe Biden called […]

  • COVID-19 pill Paxlovid moves closer to full FDA approval

    WASHINGTON (AP) — Pfizer’s COVID-19 pill Paxlovid won another vote of confidence from U.S. health advisers Thursday, paving the way for full regulatory approval from the Food and Drug Administration. The drug has been used by millions of Americans since the FDA granted it emergency use authorization late 2021. The agency has the final say […]

  • Yellen declares that the banking system is fine, as new bailouts have ordered

    WASHINGTON (AP) — Treasury Secretary Janet Yellen offered firm, optimistic reassurances to rattling bank depositors and investors Thursday, even as US financial institutions and European agencies ordered fresh bailouts after the second largest bank collapse in US history. Closely, sometimes aggressively questioned, Yellen told senators at a hearing at the Capitol that the U.S. banking […]

  • Credit Suisse shares soar after central bank offers lifeline

    GENEVA (AP) — Shares of Credit Suisse rose Thursday after the Swiss central bank agreed to lend the bank up to 50 billion francs ($54 billion) to bolster confidence in the country’s second-biggest lender after the collapse from two US banks. Credit Suisse announced the deal before the Swiss stock market opened, sending shares up […]

  • Silicon Valley Bank seized by US after historic failure

    NEW YORK (AP) — U.S. regulators rushed Friday to seize Silicon Valley Bank assets following a run on the bank, the largest financial institution bankruptcy since Washington Mutual collapsed at the height of the financial crisis more than a decade ago. Silicon Valley Bank, the country’s 16th-largest bank, filed for bankruptcy after its depositors — […]

  • Global race to extend electric vehicle range in cold weather

    By TOM KRISHER and MARK THIESSEN March 4, 2023 GMT https://apnews.com/article/electric-vehicles-cold-weather-battery-ev-6d86b7aa19e233d5dcc4d2c9abb193ed TOK, Alaska (AP) — Alaska’s rugged and frigid interior, where it can get as cold as -50 Fahrenheit (minus 46 degrees Celsius), isn’t the place you’d expect to find an electric school bus. But here’s the No. 50 bus, with a cartoon horse decal […]

  • Amazon suspends construction of 2nd headquarters in Virginia

    NEW YORK (AP) — Amazon is halting construction on its second headquarters in Virginia after the largest round of layoffs in the company’s history and shifting plans around remote working. The Seattle-based company is delaying the start of construction on PenPlace, the second phase of development of its Northern Virginia headquarters, Amazon real estate chief […]

  • YouTube’s CEO steps down and cuts long-standing ties with Google

    Susan Wojcicki, a longtime Google executive who played a key role in the company’s founding, is stepping down as CEO of YouTube after spending the past nine years leading the video site that has reshaped entertainment, culture and politics. In an email to YouTube employees that was shared publicly On Thursday, Wojcicki, 54, said she […]

  • Panel supports moving opioid antidote Narcan over the counter

    WASHINGTON (AP) — The overdose reversal drug naloxone should be made over-the-counter to aid the national response to the opioid crisis, U.S. health advisers said Wednesday. The Food and Drug Administration’s panel of experts voted unanimously for the switch after a full day of presentations and discussions about whether untrained users could safely and effectively […]