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Silicon Valley Bank collapses after failing to raise capital

Published Wed, 05 Mar 2025 02:11:02 GMT

Silicon Valley Bank collapsed Friday morning after a stunning 48 hours in which its capital crisis set off fears of a meltdown across the banking industry.California regulators closed down the tech lender and put SVB in control of the US Federal Deposit Insurance Corporation. The FDIC is acting as a receiver, which typically means it will liquidate the bank’s assets to pay back its customers, including depositors and creditors. The FDIC is an independent government agency that insures bank deposits and oversees the financial institutions.The FDIC said all insured depositors will have “full access” to their insured deposits by no later than Monday morning, and it will pay pay uninsured depositors an “advance dividend within the next week.”The bank, previously owned by SVB Financial Group, didn’t respond to CNN’s request for comment.SVB’s shares were halted Friday morning after falling more than 60% in premarket trading. The stock tumble...

California adds jobs in January but unemployment rate worsens

Published Wed, 05 Mar 2025 02:11:02 GMT

California produced sturdy job gains in January, a welcome increase that suggests the state has — so far — been able to withstand the effects of a dreary drumbeat of tech and biotech layoffs, a new report released Friday shows.Statewide, employers added 96,700 nonfarm payroll jobs in January, starting off 2023 on a promising note.The unemployment rate in California increased to 4.2% in January, up from 4.1% in December, the state Employment Development Department reported.Related ArticlesEconomy | Stocks fall on worries about banks, pain of higher rates Economy | Several hundred more tech and biotech layoffs rock Bay Area Economy | Adobe’s new tower symbolizes tech titan’s San Jose commitment Economy | Adobe broadens commitments to its San Jose hometown Economy | 600-plus additional layoffs hit Bay Area including Waymo, Clif Bar and Johnson & Johnson units Since mid-2022, tech...

Bay Area treats: A picnic in paradise on Angel Island

Published Wed, 05 Mar 2025 02:11:02 GMT

Picnics are one of life’s many simple pleasures, but don’t confuse simple with boring. A picnic can be its own great adventure, especially when you have the opportunity to have one at a naturally, culturally and historically rich destination like Angel Island.Just inside the Golden Gate, amid sparkling waters and facing the California coastline, sits the San Francisco Bay’s largest natural island. It’s an everyman’s island getaway, an ideal spot for a Bay Area mini-vacation that won’t set you back an entire paycheck or even more than a day. Angel-goers can stroll the island’s ring road, take a hike through the wilderness or just sit and relax on one of the island’s many beaches or picnic areas, all the while enjoying breathtaking 360-degree views of the Bay.While the island has hosted visitors for relaxing day trips and sightseeing excursions since it gained official California State Park status in 1963, there were many who came long b...

Silicon Valley Bank seized as depositors pull cash

Published Wed, 05 Mar 2025 02:11:02 GMT

NEW YORK (AP) — The Federal Deposit Insurance Corporation seized the assets of Silicon Valley Bank on Friday, marking the largest bank failure since Washington Mutual during the height of the 2008 financial crisis.The FDIC ordered the closure of Silicon Valley Bank and immediately took position of all deposits at the bank. The bank had $209 billion in assets and $175.4 billion in deposits as the time of failure, the FDIC said in a statement. It was unclear how much of deposits was above the $250,000 insurance limit at the moment. 2 Bay Area suburbs named best for young millennials Silicon Valley was heavily exposed to tech industry and there is little chance of contagion in the banking sector as a whole, with major banks holding sufficient capital to avoid a similar situation.The financial health of Silicon Valley Bank was increasingly in question this week after the bank announced plans to raise up to $1.75 billion in order to strengthen its capital position amid concerns about h...

Correction: Bike Path-Attack story

Published Wed, 05 Mar 2025 02:11:02 GMT

NEW YORK (AP) — In a story published Jan. 26, 2023, about the conviction of an Islamic extremist who killed eight people by driving down a New York City bike path, The Associated Press erroneously reported who imposed a moratorium on executions. It was U.S. Attorney General Merrick Garland, not President Joe Biden.Source

Standard time giving way to daylight saving in most of US

Published Wed, 05 Mar 2025 02:11:02 GMT

WASHINGTON (AP) — Standard time comes to an end in most parts of the United States this weekend. You’ll lose an hour of sleep for one night but gain more daylight in the evening in the months ahead.The transition to daylight saving time is official at 2 a.m. local time Sunday across much of the country. Then on March 20, winter sunsets and spring is sprung.Until daylight saving time ends in the wee hours of Nov. 5, the sun will rise later in the morning than than it has during standard time but it will stay light for longer until the evening.It’s a good idea to set clocks an hour ahead before bed Saturday night.No time change is observed in Hawaii, most of Arizona, Puerto Rico, the U.S. Virgin Islands, American Samoa, Guam and the Northern Marianas.A poll conducted in October 2021 found that most people in the United States want to avoid switching between daylight saving and standard time, though there is no consensus behind which should be used all year. The poll from T...

Nuevas reglas de la FDA para la realización de mamografías ayudarían a detectar el cáncer de seno

Published Wed, 05 Mar 2025 02:11:02 GMT

Todas las mujeres estadounidenses que se hacen mamografías pronto recibirán información sobre la densidad de sus senos, lo que a veces puede dificultar la detección del cáncer.Los nuevos requisitos, finalizados el jueves por la Administración de Medicinas y Alimentos (FDA, por sus siglas en inglés), tienen como objetivo estandarizar la información proporcionada a millones de mujeres, después de las exploraciones para detectar el cáncer de mama, e incluir recomendaciones para que hablen con su médico acerca de someterse a pruebas de detección adicionales.“La acción de hoy representa el compromiso más amplio de la agencia de apoyar la innovación para prevenir, detectar y tratar el cáncer”, dijo la Dra. Hilary Marston, directora médica de la FDA, en un comunicado publicado por NBC News. Le diagnostican cáncer de mama a una niña chilena de siete años “Este doble golpe es serio”: la extenista Martina Navratilova revela que sufre de cáncer ...

Esto es lo que años de dar paseos a turistas le hacen a un elefante

Published Wed, 05 Mar 2025 02:11:02 GMT

(CNN) — Puede que los elefantes sean conocidos por su tamaño y su fuerza, pero los turistas que se suben a sus lomos pueden hacerles mucho daño, como muestra esta foto compartida por un grupo de rescate de animales salvajes en Tailandia.El elefante Pai Lin tiene la espalda deformada. Crédito: Amy Jones/Moving Animals/WFFTLa imagen facilitada por la organización Wildlife Friends Foundation de Tailandia (WFFT) muestra a Pai Lin, una hembra de 71 años cuya columna vertebral se desfiguró tras 25 años de trabajo en la industria turística, donde se veía obligada a transportar hasta seis turistas a la vez.“La espalda de Pai Lin aún presenta cicatrices de antiguos puntos de presión”, afirma el grupo. “Esta presión continua sobre el cuerpo (de los elefantes) puede deteriorar el tejido y los huesos de su espalda, causando daños físicos irreversibles en su columna vertebral”.Los paseos en elefante son una actividad turística popular en países del sudeste asiático,...

Semi rollover closes 285 near Indian Hills

Published Wed, 05 Mar 2025 02:11:02 GMT

JEFFERSON COUNTY, Colo. (KDVR) -- The Inter-Canyon Fire Protection District says a rollover crash has closed Highway 285 in both directions.The crash was reported before 11:30 a.m. Friday near Indian Hills and involved a semi.ICFPD did not say if anyone was injured in the crash. See travel times and delays here The Colorado Department of Transportation said the closure starts at Parmalee Gulch Road.Closure from CDOT at 11:45 a.m.There is no estimated time when the highway could reopen.This is a developing story. Please check back for the updates.

Who murdered 3 people in 1999 and where are their bodies?

Published Wed, 05 Mar 2025 02:11:02 GMT

DENVER (KDVR) — “Their voices may now be silent . . . those who may know the truth are not,” the Colorado Bureau of Investigation shares as a part of its mission as it works to assist in bringing justice to cold case tragedies.There are hundreds of unsolved homicide cases, long-term missing person cases, and unidentified remains cases in our state where at least three years have passed since the crime happened. Cold case: Who murdered this man on Lookout Mountain? The Colorado cold case task force created a list of those cases dating back to 1970. The Problem Solvers are working to highlight cold cases in our state each week.1999 triple murderThe Colorado Bureau of Investigation, Westminster Police Department, and Thornton Police Department are working to solve a triple murder that happened 24 years ago.Detectives started looking into the suspicious disappearance of Sarah Skiba, 9, her father Paul Skiba, and Lorenzo Chivers in February of 1999. Chivers was an employ...