The Justice Department and the Security and Exchange Commission have launched federal investigations into what caused the collapse of Silicon Valley Bank. The probes will include a review of any stock sales by bank executives prior to the collapse. CNBC’s Brian Cheung provides insight for TODAY.
Category Archives: business
Car thefts in U.S. surging, Kia and Hyundai facing federal lawsuits
A new report shows car thefts nationwide are surging, topping one million last year. Automakers Kia and Hyundai are now facing federal lawsuits for failing to install adequate anti-theft technology in certain models. NBC News’ Maggie Vespa has more details.
FAA acting administrator after recent turmoil: U.S. has world’s ‘safest, most complex’ flight system
FAA Acting Administrator Billy Nolen sat down with Lester Holt in an exclusive interview to discuss concerns over close calls on airport runways and unruly passengers on flights.
Two Canadian motorists unknowingly open wrong Teslas and are allowed to drive away
A pair of Canadian Tesla owners accidentally climbed into the wrong cars before their apps allowed them to drive away in lookalike vehicles, they said Tuesday.
Democrats, led by Warren and Porter, unveil bill to repeal Trump-era bank law
Following Silicon Valley Bank’s collapse, Sen. Elizabeth Warren and Rep. Katie Porter have a bill to restore bank regulations undone under then-President Trump.
DOJ and SEC launch probes into Silicon Valley Bank after collapse
The Department of Justice and Securities and Exchange Commission have opened investigations into last week’s collapse of Silicon Valley Bank.
Texas judge weighs whether to order an abortion pill off the market in high-stakes hearing
A federal judge in Texas will hold a hearing on Wednesday in a lawsuit that seeks to overturn the FDA’s approval of abortion pills.
Lunchables may soon be available in a school cafeteria near you
We all know Lunchables — the miniature snack-pack filled with pieces of ham and crackers, or small DIY pizzas that have excited American children for years.
Moody's cuts outlook on U.S. banking system to negative from stable
In a harsh blow to an already-reeling sector, Moody’s Investors Service on Monday cut its view on the entire banking system to negative from stable.
Silicon Valley Bank quietly laid off employees as tech firms in its backyard also slashed jobs
Months before it became the second-largest bank in U.S. history to fail, Silicon Valley Bank laid off 100 to 120 employees, according to an internal email seen by NBC News.