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News Articles: Business

Treasury Secretary Janet Yellen arrives for a hearing on Capitol Hill on March 10. On Sunday, Yellen said the government wouldn't bail out Silicon Valley Bank.

Tagged as: 

  • Business

Janet Yellen says the federal government won't bail out Silicon Valley Bank

The California lender was taken over by regulators after a "run" on the bank. The Treasury secretary says the U.S. won't come to the bank's rescue like it did for others in the 2008 financial crisis.

March 12, 2023
|
By:
  • Joe Hernandez
FILE - Storage tanks are seen at the North Jiddah bulk plant, an Aramco oil facility, in Jiddah, Saudi Arabia, on March 21, 2021. Oil giant Saudi Aramco said Sunday, March 12, 2023, it earned a $161 billion profit last year, attributing its earnings to higher crude oil prices.

Tagged as: 

  • Business

Four takeaways as oil giant Saudi Aramco reports a huge $161 billion profit

The world's biggest oil company has announced it made $161 billion in profits in 2022, a whopping figure for the corporation and its main shareholder, the Saudi government.

March 12, 2023
|
By:
  • Aya Batrawy
A car hauler carrying Chrysler Pacificas' approaches the Ambassador Bridge that connects Windsor, Canada, to Detroit, Michigan,on October 5, 2018 in Windsor, Ontario, Canada.

Tagged as: 

  • Business

After years of decline, the auto industry in Canada is making a comeback

Ontario is one of the largest car producers in North America. But after years of job losses and plant closures, the Canadian province is now betting on electric vehicles to grow its auto sector.

March 12, 2023
|
By:
  • H.J. Mai
FILE - Yi Gang, governor of the People's Bank of China, speaks during a press conference at the State Council Information Office in Beijing, on March 3, 2023. China on Sunday, March 12, reappointed Yi as head of the central bank in an effort to reassure entrepreneurs and financial markets by showing continuity at the top while other economic officials change.

Tagged as: 

  • Asia

China has reappointed its central bank governor, when many had expected a change

China on Sunday reappointed Yi Gang as head of the central bank in an effort to reassure entrepreneurs and financial markets.

March 12, 2023
|
By:
  • The Associated Press
Rocks retrieved from a mine in Muzo, Colombia, show some of what makes the country the biggest producer of high-value emeralds.

Tagged as: 

  • Latin America

Inside the emerald mines that make Colombia a global giant of the green gem

NPR ventures into a Colombian emerald mine — which used to be more dangerous, with potential explosions inside and gunfights outside. The CEO, a former U.S. diplomat, says he wanted to change that.

March 11, 2023
|
By:
  • John Otis
A customer stands outside of the shuttered Silicon Valley Bank headquarters in Santa Clara, Calif., on March 10, 2023. The lender was taken over federal regulators on Friday, marking one of the largest bank failures since the 2008 Global Financial Crisis.

Tagged as: 

  • Business

A Silicon Valley lender collapsed after a run on the bank. Here's what to know

Silicon Valley Bank was taken over by federal regulators on Friday, capping a spectacular collapse after the lender suffered a run on deposits.

March 11, 2023
|
By:
  • David Gura
The General Motors logo is displayed outside the General Motors Detroit-Hamtramck Assembly plant, Jan. 27, 2020, in Hamtramck, Mich.

Tagged as: 

  • Business

General Motors is offering buyouts in an effort to cut $2 billion in costs

The Detroit automaker says the buyouts will be offered to most U.S. salaried workers and some global executives.

March 10, 2023
|
By:
  • Ashley Westerman
A part of the Trans Alaska Pipeline System is seen in Fairbanks, Alaska in September 2019. Environmentalists say a proposed new drilling project, the Willow Master Development Plan, would disturb Alaska's critical wildlife habitat with more surface-level oil infrastructure.

Tagged as: 

  • National

Can TikTokkers sway Biden on oil drilling? The #StopWillow campaign, explained

The Biden administration is expected to announce whether a $6 billion arctic drilling plan can move forward soon, an issue that's galvanized millions of TikTokkers into taking action, digitally.

March 10, 2023
|
By:
  • Emily Olson
GPB News NPR

Tagged as: 

  • National

Racial bias in home appraising prompts changes in the industry

Accusations of racial bias are fueling changes in the home appraisal industry. Companies say modernizing the technology and data they use will help limit discrimination.

March 10, 2023
|
By:
  • Jennifer Ludden
Customers shop at the Shuga Records store during the Record Store Day in Chicago on April 13, 2019. Vinyl record sales have been on the rise for 16 straight years, with an extra bump in demand during the pandemic.

Tagged as: 

  • Music

Vinyl records outsell CDs for the first time since 1987

Vinyl sales grew for the 16th consecutive year in 2022, with 41 million albums sold — compared to 33 million CDs. Streaming is still the biggest driver of the music industry's growth.

March 10, 2023
|
By:
  • Kaitlyn Radde
President of the European Commission Ursula von der Leyen speaks with President Biden at the global meeting of G-20 leaders on Nov. 15, 2022, in Nusa Dua, Indonesia

Tagged as: 

  • Europe

Biden and the EU's von der Leyen meet to ease tensions over trade, subsidy concerns

The Inflation Reduction Act, or IRA, promises tax breaks to companies making technology for clean energy. European leaders are concerned companies will flee to the U.S. to cash in on the tax breaks.

March 10, 2023
|
By:
  • Rob Schmitz
Arkansas Gov. Sarah Huckabee Sanders delivers the Republican response to President Biden's State of the Union address on Feb. 7 in Little Rock, Ark. Sanders signed a law this week making it easier to employ kids under 16.

Tagged as: 

  • Business

Arkansas Gov. Sanders signs a law that makes it easier to employ children

Under the Youth Hiring Act of 2023, those under 16 don't have to get the Division of Labor's permission to be employed. The state also doesn't have to verify their age anymore.

March 10, 2023
|
By:
  • Kaitlyn Radde
A "Help Wanted" sign is posted at a restaurant in Los Angeles on Feb. 2, 2023. U.S. employers added 311,000 jobs last month, a number that indicates the labor market remains fairly hot.

Tagged as: 

  • Economy

The job market slowed last month, but it's still too hot to ease inflation fears

U.S. employers added 311,000 jobs in February, only a modest slowdown from the previous month, indicating the labor market remains hot. The unemployment rate rose to 3.6% from 3.4% in January.

March 10, 2023
|
By:
  • Scott Horsley
In recent days, TikTok creators have been criticizing the app's new "Bold Glamour" filter for perpetuating unrealistic beauty standards.

Tagged as: 

  • Technology

Does the 'Bold Glamour' filter push unrealistic beauty standards? TikTokkers think so

The video-sharing app recently revealed a new beauty filter that harnesses the latest developments in artificial intelligence. It is so hyper-realistic that many TikTokkers are lashing out.

March 10, 2023
|
By:
  • Bobby Allyn
Joseph Zucchero, pictured in 2008, left his mark on Chicago.

Tagged as: 

  • Obituaries

A Chicago legend, whose Italian beef sandwich helped inspire 'The Bear,' has died

The owner of the famed Chicago sandwich shop Mr. Beef had built a reputation for serving the classic dish and showing love for his community.

March 10, 2023
|
By:
  • Manuela López Restrepo
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