Business

Economy

Facebook's parent company Meta is laying off another 10,000 workers

7:25am March 15, 2023

NPR's Sacha Pfeiffer talks to Wall Street Journal reporter Sam Schechner about the layoffs which will cut about 12% of Meta's workforce. This round follows a previous cut of 11,000 jobs.

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For 40 years, Silicon Valley Bank was a tech industry icon. It collapsed in just days

5:00am March 15, 2023

by Jaclyn Diaz

Silicon Valley Bank was not a household name. For four decades, SVB successfully competed with big name financial institutions only to come crumbling down in a matter of days.

Economy

How will 2 bank failures affect the Federal Reserve's approach to inflation?

3:09am March 15, 2023

The Fed was watching closely Tuesday when the new report card on inflation was released. The Fed's efforts to combat inflation have been complicated by recent stresses in the banking industry.

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A lobster rears its claws after being caught off Spruce Head, Maine, Aug. 31, 2021. A group of Maine businesses and trade groups filed a lawsuit against a California aquarium Monday, March 13, 2023, for recommending seafood customers avoid buying lobster.

National

The Maine lobster industry sues California aquarium over a do-not-eat listing

2:36am March 15, 2023

by The Associated Press

Industry groups are suing the Monterey Bay Aquarium for defamation, arguing that their prized catch shouldn't be on a "red list" published by Seafood Watch, a conservation program it operates.

Sen. Elizabeth Warren questions Treasury Secretary Janet Yellen and Federal Reserve Chairman Powell during a Senate Banking, Housing and Urban Affairs Committee hearing on Sept. 28, 2021 in Washington, D.C.

Politics & Government

After 2 banks collapsed, Sen. Warren blames the loosening of restrictions

6:57pm March 14, 2023

by Destinee Adams

Democratic Sen. Elizabeth Warren of Massachusetts criticizes a bill that was passed in 2018. Senate Republicans say the recent measures to address the collapse amount to a "back door tax increase."

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Seven & I Holdings Co. founder and honorary chairman Masatoshi Ito, right, attends the company's initiation ceremony for new employees in Tokyo, Japan, on March 13, 2014.

World News

Masatoshi Ito, who brought 7-Eleven convenience stores to Japan, has died

4:50pm March 14, 2023

by Joe Hernandez

Convenience stores known as konbini have become a consumer staple in Japan. The country had more than 20,000 7-Eleven stores as of 2018.

A security guard at Silicon Valley Bank monitors a line of people outside the office in Santa Clara, Calif., on March 13, 2023. The Fed will now need to factor in the impact of the collapse of the lender, along with Signature Bank, as it makes its next decision on interest rates.

The Fed already had a tough inflation fight. Now, it must deal with banks collapsing

4:24pm March 14, 2023

by Scott Horsley

Consumer prices in February were 6% higher than a year ago, as inflation continues to ease. The data comes just days after the collapse of two regional lenders is roiling the banking system.

Economy

Two U.S. banks have collapsed since Friday. Should you be worried?

4:12pm March 14, 2023

Two U.S. banks have collapsed since Friday. What does this mean for the average American? NPR's Mary Louise Kelly speaks with Jacob Goldstein about the future of the banking system in the U.S.

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.