Business

Disney plans to cut 3% of its total global workforce in a cost-saving move

7:52am March 29, 2023

Disney has begun the first of three rounds of layoffs, which CEO Bob Iger said in a memo will eventually total 7,000 jobs. The cuts are part of an effort to save $5.5 billion in costs.

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Morning news brief

7:28am March 29, 2023

Nashville holds a vigil for the school shooting victims, ex-Starbucks CEO Howard Schultz to testify before a Senate panel over unionization and Disney will layoff 7,000 people in a cost-saving deal.

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Federal Reserve Vice Chair for Supervision Michael S. Barr appears before the Senate Banking, Housing and Urban Affairs Committee in Washington, D.C., on March 28, 2023. The collapse of Silicon Valley Bank has sparked scrutiny from lawmakers who want to know what went wrong and whether regulators did enough to oversee the lender.

5 things we learned from the Senate hearing on the Silicon Valley Bank collapse

4:20pm March 28, 2023

by Scott Horsley

A top federal regulator called the failure of Silicon Valley Bank a "textbook case of bank mismanagement" during a Senate hearing about what led to its spectacular collapse

A security guard looks out a door as customers line up at Silicon Valley Bank headquarters in Santa Clara, California on March 13, 2023.

Economy

SVB collapse could have ripple effects on minority-owned banks

2:29pm March 28, 2023

Four minority founders reflect on the health of minority-owned banks in the U.S. following the sudden collapse of SVB.

Panera has piloted handprint scanners in two locations so far. The company plans to roll out the technology in additional locations across the country in the coming months.

National

Panera rolls out hand-scanning technology that has raised privacy concerns

10:00am March 28, 2023

by Juliana Kim

Developed by Amazon, the technology will make it faster for Panera customers' to pay as well as give recommendations on what to order based on their order history.

Honda is recalling 330,000 Odysseys, Passports, Pilots and Ridgelines due to an issue with side-view mirrors.

National

Honda recalls more than 330,000 vehicles due to a side-view mirror issue

8:55am March 28, 2023

by The Associated Press

Heating pads behind the mirrors may not be bonded properly, which could lead to the mirror glass falling out. The recalled vehicles include recent-model Odysseys, Passports, Pilots and Ridgelines.

Politics & Government

A Senate panel explores the current crisis in the banking industry

7:53am March 28, 2023

The collapse of Silicon Valley Bank will be the focus of a Senate hearing Tuesday. Senators want to know why it and a second bank failed this month, and how to prevent similar meltdowns in the future.

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Why Nepo Babies Are Bad For Business (Sorry, 'Succession')

6:30am March 28, 2023

by Greg Rosalsky

What the HBO show 'Succession' can teach us about family companies

National

Morning news brief

6:06am March 28, 2023

Three students and three adults were killed in a school shooting in Nashville, Tenn. Israel delays plans for a judicial overhaul. A U.S. Senate panel examines what went wrong at Silicon Valley Bank.

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National

The FDIC says First Citizens Bank will acquire Silicon Valley Bank

4:39am March 27, 2023

by The Associated Press

First Citizens will buy Silicon Valley Bank, the tech industry-focused financial institution that collapsed earlier this month, rattling the banking industry and sending shockwaves around the world.