Business

What remains of Silicon Valley Bank will be taken over by First Citizens Bank. Scott Budman reports.

First Citizens will acquire much of Silicon Valley Bank, the tech-focused financial institution that collapsed this month, setting off a chain reaction that caused a second bank to fail and tested faith in the global banking sector.

North Carolina-based 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. Scott McGrew reports.

A business trip now costs an average of $520 a day in Hong Kong, and Singapore follows closely behind at $515.

A financial free fall is happening right now in the Bay Area. One of the most trusted local banks is in trouble and now there’s growing concern that some companies are withdrawing their funds, which could spell doom. 

A financial free fall is happening right now in the Bay Area. One of the most trusted local banks is in trouble and now there’s growing concern that some companies are withdrawing their funds. That could spell doom. Business and Tech reporters Scott Budman reports.

Hidden Valley Ranch is releasing a ranch-flavored ice cream later this month in collaboration with New York-based Van Leeuwen Ice Cream.

Elon Musk on Tuesday apologized after questioning the work performance of a disabled Twitter employee who was laid off by the company.

Reese’s Peanut Butter Cups are getting the vegan treatment. Hershey says its Reese’s Plant Based Peanut Butter Cups, which go on sale this month, will be its first vegan chocolates sold nationally. A second plant-based offering, Hershey’s Plant Based Extra Creamy with Almonds and Sea Salt, will follow in April. The chocolates are made with oats instead of milk. Hershey...

Some McDonald’s franchisees are not lovin’ the latest celebrity collab, but the burger brand is standing by the couple.

The company is moving some of its production to Slovakia, which means the milk chocolate treat won’t be Swiss enough for Switzerland.

Famed chocolate Toblerone will remove images of the Swiss flag and the Matterhorn mountain from its packaging to comply with a “Swissness” law, after moving some production to Slovakia.

The tradition of getting a quick polish from a rag-toting shoeshiner is greatly diminished, and many stands similar to those in Penn Station and Grand Central have disappeared throughout NYC — and across the country

Big companies like Starbucks and American Airlines are making it harder for consumers to obtain perks, scaling back the value of reward and loyalty programs amid inflation.

Mattel is relaunching its Barney franchise through a series of television, film and YouTube videos to be followed by toys, books, clothing and accessories.

Yahoo will lay off more than 20% of staff, or around 1,600 workers, with the company’s Yahoo for Business being slashed in half, the company said.

Disney unveiled a vast corporate restructuring, and CEO Bob Iger said the company isn’t considering a spinoff of ESPN.

Movie theaters are launching creative food initiatives as they struggle with heavy debt loads and empty seats.

Global company names often get Americanized or Anglicized to the point where they’re unrecognizable.

Tech companies have been laying workers off by the thousand amid economic concerns and plummeting stock prices, but this week things snapped back big time. Scott Budman reports.