ABC Business News

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…]

Kraft Heinz (NEW YORK) — Lunchables are ready for their first day of school. In tandem with the National School Lunch Program, the ready-to-eat packaged Lunchables kits, made by Kraft Heinz, have been approved to [Read More…]

Dairy Queen (NEW YORK) — There’s a new sweet treat on the menu at Dairy Queen for a limited time. The ice cream chain, known for its soft serve cones dipped in a quick-hardening shell, [Read More…]

Jakub Porzycki/NurPhoto via Getty Images (NEW YORK) — Silicon Valley Bank’s failure on Friday raises concerns over the potential impacts on the climate technology industry, where SVB was heavily involved. “They went out of their way [Read More…]

Andrea Ronchini/NurPhoto via Getty Images (NEW YORK) — The collapse of Silicon Valley Bank, the second-biggest bank failure in U.S. history, took place over less than 48 hours. Customers withdrew $42 billion — nearly a quarter [Read More…]

Thinkstock/Getty Images (WASHINGTON) — The Justice Department and Securities and Exchange Commission are probing the collapse of Silicon Valley Bank, according to two people familiar with the situation. The probes, which are separate, are in [Read More…]

MJHollinshead/Getty Images (NEW YORK) — A New York City woman has gone viral for tweeting about her fight for equal pay. Kimberly Nguyen, a 25-year-old user experience writer, tweeted earlier this month that she saw [Read More…]

Justin Sullivan/Getty Images (NEW YORK) —  The largest bank failure since the 2008 crisis has triggered a major U.S. government intervention to protect the financial system. Silicon Valley Bank, the nation’s 16th largest bank, collapsed [Read More…]

Witthaya Prasongsin/Getty Images (WASHINGTON) — Americans lost $10.3 billion to a wide variety of internet scams last year, according to an FBI report released this month. The losses were the highest in five years, according [Read More…]

Bloomberg Creative/Getty Images (WASHINGTON) — The Federal Reserve, Treasury Department and Federal Deposit Insurance Corporation announced Sunday that they will make additional funding available to ensure all Silicon Valley Bank deposits, both insured and uninsured, [Read More…]

EllenMoran/Getty Images (WASHINGTON) — The Department of Transportation will send proposed legislation to Congress Monday asking legislators to ban so-called family seating fees on flights. The proposal follows calls from President Joe Biden to get [Read More…]

PM Images/Getty Images (LONDON) — Silicon Valley Bank UK is being acquired by HSBC in a £1 deal that will protect deposits, the United Kingdom’s chancellor and HSBC said on Monday. “This morning, the Government [Read More…]

Photography by Phillip Rubino/Getty Images (NEW YORK) — You could say the Internal Revenue Service is undergoing a Renaissance. After years of criticism for being inefficient and antiquated, the IRS has spent nearly $1 billion to [Read More…]

Consumer Product Safety Commission (NEW YORK) — The U.S. Consumer Product Safety Commission on Thursday announced a recall of 1.9 million YETI cooler products. The recall impacts four of YETI’s products: the Hopper M20 backpack [Read More…]