ABC Business News

ANDREW CABALLERO-REYNOLDS/AFP via Getty Images (WASHINGTON) — Treasury Secretary Janet Yellen said Tuesday that “the situation is stabilizing and the U.S. banking system remains sound,” after regional bank failures have shaken the U.S. banking system. [Read More…]

Phillip Spears/Getty Images (NEW YORK) — As fallout continues from the Silicon Valley Bank collapse — the second-biggest bank failure in U.S. history — people across the country are simultaneously feeling the impact of inflation [Read More…]

ANDREW CABALLERO-REYNOLDS/AFP via Getty Images (WASHINGTON) — Treasury Secretary Janet Yellen plans to say during a speech on Tuesday that “the situation is stabilizing and the U.S. banking system remains sound,” according to excerpts of [Read More…]

Javier Ghersi/Getty Images (NEW YORK) — The collapse of Silicon Valley Bank, the second-biggest bank failure in U.S. history, has thrust the financial system into distress, pulling attention away from a separate problem: sky-high inflation. [Read More…]

Bloomberg Creative/Getty Images (WASHINGTON) — The Federal Reserve was aware of risks to Silicon Valley Bank more than a year before its collapse, ABC News confirmed on Monday following a New York Times report. Even [Read More…]

Westend61/Getty Images (NEW YORK) — Let’s be honest: electric vehicles can get a bad rap. Maybe it’s range anxiety. Or the scarcity — and uncertainty — of public charging stations. Both are valid reasons why [Read More…]

Mario Tama/Getty Images (NEW YORK) — Awkward dads and their eager children may not dance together on TikTok for much longer — at least not in the U.S. The prospect of a nationwide TikTok ban has [Read More…]

IronHeart/Getty Images (NEW YORK) — A string of bank collapses in recent days sent panic rippling through the financial sector, prompting an extraordinary U.S. government intervention to save depositors and a sharp drop for bank [Read More…]

Witthaya Prasongsin/Getty Images (NEW YORK) — SVB Financial Group and top executives have been named in a federal lawsuit amid the collapse of Silicon Valley Bank, the largest bank failure since the 2008 financial crisis. [Read More…]

Anton Petrus/Getty Images (NEW YORK) — An Ohio public pension fund for teachers revealed it lost millions by holding more than $27 million in Silicon Valley Bank shares before the bank’s collapse. The State Teachers [Read More…]

ABC News (NEW YORK) — The CEO behind the company that created ChatGPT believes artificial intelligence technology will reshape society as we know it. He believes it comes with real dangers, but can also be [Read More…]

Daniel Acker/Bloomberg via Getty Images (NEW YORK) — Ford announced this week that it is recalling more than 1.2 million of its vehicles over a serious issue with its brake fluid hoses. The National Highway [Read More…]

NurPhoto/Getty Images (WASHINGTON) — A ban on TikTok in the United States or a sale of the app by its Chinese owner, ByteDance, will not resolve national security concerns or fears TikTok could be used [Read More…]

Chip Somodevilla/Getty Images (WASHINGTON) — Treasury Secretary Janet Yellen told Congress on Thursday the U.S. “banking system is sound” after two bank failures stirred economic fears. Yellen, testifying before the Senate Finance Committee, began her [Read More…]

IronHeart/Getty Images (NEW YORK) — The word “bailout” is sure to make anyone who remembers the 2008 financial crisis nostalgic in all the worst ways. At the time, the government used taxpayer money to keep [Read More…]

Andrea Ronchini/NurPhoto via Getty Images (NEW YORK) — The failure of Silicon Valley Bank, the second-biggest bank collapse in U.S. history, called into doubt the fate of roughly $175 billion in customer deposits. Days later, the [Read More…]

lvcandy/Getty Images (NEW YORK) — In the wake of last year’s collapse of cryptocurrency exchange FTX, the collapse this week of Silicon Valley Bank and Signature Bank — representing the second and third largest bank [Read More…]

Javier Ghersi/Getty Images (NEW YORK) — Bank stocks in the U.S. and Europe tumbled on Wednesday as the global financial system continued to reckon with the Silicon Valley Bank collapse, the largest bank failure since [Read More…]

Catherine McQueen/Getty Images (NEW YORK) — The closures of two of the nation’s largest banks over the past week have put many consumers on edge. Silicon Valley Bank, the nation’s 16th largest bank, struggled as [Read More…]

Jakub Porzycki/NurPhoto via Getty Images (NEW YORK) — OpenAI released the latest version of ChatGPT, the artificial intelligence language model making significant waves in the tech industry, on Tuesday. GPT-4, the latest model, can understand [Read More…]