Economy

Economy

Meta announces another 10,000 layoffs after major layoffs last fall

4:12pm March 14, 2023

by Dara Kerr

Meta announced another round of layoffs on Tuesday, which means the company will be cutting a fifth of its total workforce in just a few months. CEO Mark Zuckerberg said it's a new economic reality.

Economy

While the costs of some things are coming down, a lot of other prices are climbing

4:12pm March 14, 2023

by Scott Horsley

Inflation eased in February, but consumer prices are still up 6% from a year ago. The Fed is wrestling with how hard to crack down — a difficult calculation after the collapse of two regional banks.

Economy

Silicon Valley Bank had 3 big vulnerabilities

4:12pm March 14, 2023

by Darian Woods

The 16th largest bank in the country failed. Then, the government said it was taking over another big bank. NPR takes a look at the financial institution that set this all off — Silicon Valley Bank.

SANTA CLARA, CALIFORNIA - MARCH 10: A worker (C) tells people that the Silicon Valley Bank (SVB) headquarters is closed on March 10, 2023 in Santa Clara, California.

The Collapse Of Silicon Valley Bank

12:15pm March 14, 2023

A major bank in Silicon Valley experienced a bank run and failed. Fearing a cascading catastrophe in tech and banking, the government stepped in to prevent contagion.

The FDIC normally insures deposits up to $250,000. It made an exception when Silicon Valley Bank and Signature Bank collapsed, guaranteeing all deposits at both banks.

Economy

Will the FDIC's move to cover uninsured deposits set a risky precedent?

11:53am March 14, 2023

by Arezou Rezvani

Some say the decision to guarantee deposits beyond the typical $250,000 limit was necessary to keep the financial system stable. Others argue this sets a bad precedent if other banks run into trouble.

Queue Listen Now

Women earn about 82 cents for every dollar men make, according to the U.S. Government Accountability Office. That means on March 14, women's pay catches up to what men made in 2022.

Economy

It's Equal Pay Day. The gender pay gap has hardly budged in 20 years. What gives?

7:44am March 14, 2023

by Stacey Vanek Smith

Women have to work nearly 15 months to earn what a man earns in 12. And that's been true for decades.

Queue Listen Now

Morning news brief

5:48am March 14, 2023

February inflation data will be released. The federal government's move to cover depositors at two failed banks triggers debate. President Biden approves the Willow oil drilling project in Alaska.

Queue Listen Now

Economy

Customer deposits of more than $250,000 at 2 failed banks will be guaranteed

5:11am March 14, 2023

by Arezou Rezvani

The federal government's decision to rescue customer deposits in two failed banks raises questions about exceeding the cap for what's normally insured by the FDIC.

Residents near Ohio train derailment find it nearly impossible to sell their home

5:11am March 14, 2023

by Oliver Morrison

The Norfolk Southern train derailment and the release of toxic chemicals that followed has hurt the housing market in East Palestine, Ohio.

Economy

Exploring the many reasons why car prices remain high

5:11am March 14, 2023

by Camila Domonoske

Why are car prices still so much higher than they were before the pandemic? The average cost of a new vehicle tops $48,000.