Business

In this Jan. 12, 2016, file photo, a ride share car displays Lyft and Uber stickers on its front windshield in downtown Los Angeles. A California appeals court ruled March 13, 2023, that a voter-backed initiative exempting Uber and Lyft from a key provision of state employment law is constitutional, a reversal of a lower court decision that marks a win for the ride-hailing giants.

National

California court says Uber, Lyft can treat state drivers as independent contractors

3:35am March 14, 2023

by The Associated Press

The ruling mostly upholds a voter-approved law that said drivers for ride-share companies are independent contractors and are not entitled to benefits like paid sick leave and unemployment insurance.

A property manager representative passes a sign at Silicon Valley Banks headquarters in Santa Clara, California on March 10, 2023.

National

Startups 'on pins and needles' until their funds clear from Silicon Valley Bank

8:40pm March 13, 2023

by Dara Kerr

Silicon Valley Bank's collapse left startups scrambling to figure out how to make payroll, or even just get checks printed.

An FDIC sign is posted on a window at a Silicon Valley Bank branch in Wellesley, Mass., on Saturday. The bank was caught in a meltdown, forcing a government takeover. The FDIC guarantees accounts up to $250,000.

The FDIC insurance limit was last raised in 2008. Here's how it works

6:27pm March 13, 2023

by Bill Chappell

The FDIC exists to help the banking system cope with exactly the type of crisis we're now seeing: When it was created in 1933, some 4,000 banks had closed in the first few months alone.

Bank stocks continued to fall Monday despite President Biden's assurances

6:09pm March 13, 2023

by David Gura

Despite President Biden's efforts to reassure markets and the government's backstop of customers' deposits, Wall Street remains worried about the risk of contagion.

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Alaska oil project gets the green light

5:17pm March 13, 2023

by Liz Ruskin - Alaska Public Media

ConocoPhillip's $8 billion Willow project in the Alaska's National Petroleum Reserve will move ahead. Biden put millions of acres off-limits to future oil drilling; environment groups aren't thrilled.

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With their bank collapsed, a tech startup struggles to make — and receive — payments

5:10pm March 13, 2023

Kamal Kapadia's tech startup had all of its money in Silicon Valley Bank. They're still trying to access their funds, days after it collapsed.

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A pedestrian speaks on a mobile telephone as he walks past Silicon Valley Bank's headquarters in Santa Clara, Calif., on Friday after a run on deposits made it no longer tenable for the bank to stay afloat on its own.

Economy

Silicon Valley Bank's fall shows how tech can push a financial panic into hyperdrive

4:43pm March 13, 2023

by Scott Neuman

Bank runs, by their very nature, happen fast. But in an age of instant communication, social media and money transfers at the touch of a button, they can now happen in the blink of an eye.

Former Congressman Barney Frank on Silicon Valley Bank collapse

4:36pm March 13, 2023

NPR's Juana summers talks with former Congressman Barney Frank about the collapse of Silicon Valley Bank and Signature Bank and the Dodd-Frank rollback of 2018.

Tiffany Dufu attends #BossLadyBrunch on July 29, 2017 in Sag Harbor, New York.

How the collapse of Silicon Valley Bank affected one startup

3:29pm March 13, 2023

by Sacha Pfeiffer

Tiffany Dufu, CEO of tech startup The Cru, responds to the collapse of Silicon Valley Bank.

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Biden spoke on his administration is taking to save customers of Silicon Valley Bank

12:00pm March 13, 2023

The Biden administration has stepped in to save customers of Silicon Valley Bank and Signature Bank.

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