A class action lawsuit is being filed against the parent company of Silicon Valley Bank, its CEO and its chief financial officer, saying that company didn't disclose the risks that future interest rate increases would have on its business. The lawsuit against SVB Financial Group, CEO Greg Becker and CFO Daniel Beck was filed in the U.S. district court for the Northern district of California. It is looking for unspecified damages to be awarded to those who invested in SVB between June 16, 2021 and March 10, 2023.

Facebook parent Meta is slashing another 10,000 jobs and will not fill 5,000 open positions as the social media pioneer cuts costs. The company said Tuesday it will reduce the size of its recruiting team and make further cuts in its tech groups in late April, and then its business groups in late May.

NEW YORK (AP) — President Joe Biden insisted Monday that the nation’s banking system was safe, seeking to project calm after the collapse of two banks stirred fears of a broader upheaval and prompted regulators to offer emergency loans to banks to stave off additional failures. “Your deposits will be there when you need them," Biden said.

Pfizer is spending about $43 billion to reach deeper into new cancer treatments that target tumor cells while sparing surrounding healthy tissue. The pharmaceutical giant said Monday it will pay $229 in cash for each share of Seagen Inc. Pfizer then plans to let the biotech drug developer “continue innovating,” except with more resources than it would have alone, Pfizer Chairman and CEO Albert Bourla told analysts.

NEW YORK (AP) — The U.S rushed to seize the assets of Silicon Valley Bank on Friday after a run on the bank, the largest failure of a financial institution since Washington Mutual during the height of the financial crisis more than a decade ago. Silicon Valley, the nation's 16th largest, failed after depositors — mostly technology workers and venture capital-backed companies — began withdrawing their money as anxiety about the bank's situation spread this week.

WASHINGTON (AP) — America’s employers added a substantial 311,000 jobs in February, fewer than January’s huge gain but enough to keep pressure on the Federal Reserve to raise interest rates aggressively to fight inflation. The unemployment rate rose to 3.6% from a 53-year low of 3.4%, as more Americans began searching for work and not all of them found jobs.

The number of Americans applying for unemployment benefits last week jumped by the most in five months, but layoffs remain historically low as the labor market continues to be largely unaffected by the Federal Reserve's interest rate hikes. Applications for jobless claims in the U.S. for the week ending March 4 rose by 21,000 to 211,000 from 190,000 the previous week, the Labor Department said Thursday. It’s the first time in eight weeks that claims came in above 200,000.

DETROIT (AP) — General Motors is offering buyouts to most of its U.S. salaried workforce and some global executives in an effort to trim costs as it makes the transition to electric vehicles. The Detroit automaker wouldn't say how many workers it is targeting, but confirmed that the move is aimed at accelerating attrition to meet a previously announced goal of $2 billion in cost cuts by the end of next year. GM has about 58,000 salaried workers in the U.S.

WASHINGTON (AP) — U.S. employers posted 10.8 million job openings in January, indicating the American job market continues to run too hot for the inflation fighters at the Federal Reserve. Job openings fell from 11.2 million in December but remained high by historical standards, the Labor Department reported Wednesday. Employers also hired more workers in January. But layoffs rose.

DETROIT (AP) — U.S. auto safety regulators have opened an investigation into Tesla's Model Y SUV after getting two complaints that the steering wheels can come off while being driven. The National Highway Traffic Safety Administration says the probe covers an estimated 120,000 vehicles from the 2023 model year.

OMAHA, Neb. (AP) — Federal investigators are opening a wide-ranging investigation into one of the nation’s biggest railroads following a fiery derailment on the Ohio-Pennsylvania border last month and several other accidents involving Norfolk Southern, including the death of a train conductor Tuesday. The National Transportation Safety Board said on Tuesday it will begin a broad look at the company's safety culture — the first such investigation within the rail industry since 2014.

WASHINGTON (AP) — The Federal Reserve could increase the size of its interest rate hikes and raise borrowing costs to higher levels than previously projected if evidence continues to point to a robust economy and persistently high inflation, Chair Jerome Powell told a Senate panel Tuesday.

WASHINGTON (AP) — U.S. health officials are alerting consumers about two more recalls of eyedrops due to contamination risks that could lead to vision problems and serious injury. The announcements follow a recall last month of eyedrops made in India that were linked to an outbreak of drug-resistant infections. One person died and at least five others had permanent vision loss.

The Biden administration sued on Tuesday to block JetBlue Airways from buying Spirit Airlines, saying the deal would reduce competition and drive up airfares for consumers. The Justice Department said the tie-up would especially hurt cost-conscious travelers who depend on Spirit, a budget carrier, to find cheaper options than they can find on JetBlue and other airlines.

Shoppers could soon find it easier to tell if those grocery store steaks or pork chops were really “Made in the USA.” Federal agriculture officials on Monday released new requirements that would allow labels on meat, poultry or eggs to use that phrase -- or “Product of USA” -- only if they come from animals “born, raised, slaughtered and processed in the United States.”

The number of people applying for unemployment benefits in the U.S. fell for the third straight week. That's good news for American workers, but potentially bad news in the fight against inflation by the Federal Reserve, which has been ratcheting up its benchmark interest rate for a year in an effort to cool the economy, loosen the labor market and tame inflation.

Eli Lilly will cut prices for some older insulins later this year and immediately give more patients access to a cap on the costs they pay to fill prescriptions. The moves announced Wednesday promise critical relief to some people with diabetes who can face thousands of dollars in annual costs for insulin they need in order to live. Lilly’s changes also come as lawmakers and patient advocates pressure drugmakers to do something about soaring prices.

DETROIT (AP) — Tesla says it will cut the cost of its next generation of vehicles in half, largely by using innovative manufacturing techniques and smaller factories. CEO Elon Musk and other executives outlined the goals during a 3 1/2-hour investor day presentation at Tesla's Austin, Texas, headquarters Wednesday as they presented the company's third master plan.

ATLANTA (AP) — Pilots at Delta Air Lines easily approved a new contract that will raise their pay by more than 30% over four years and likely lead to similar agreements covering union pilots at other major U.S. airlines. The Air Line Pilots Association said 78% of Delta pilots who voted supported the contract. Delta has about 15,000 pilots.

DETROIT (AP) — Nissan is recalling more than 809,000 small SUVs in the U.S. and Canada because a key problem can cause the ignition to shut off while they're being driven. The recall covers certain Rogues from the 2014 through 2020 model years, as well as Rogue Sports from 2017 through 2022.

NEW YORK (AP) — Target reported on Tuesday a 43% drop in profits and a slight uptick in sales for the holiday quarter, reflecting the discounter's ongoing challenges of cautious consumer spending and its own higher costs. The Minneapolis discounter issued a cautious outlook for the year as inflation squeezes household budgets. But the fiscal fourth-quarter results beat retail industry analysts’ expectations. Shares rose more than 1% in pre-market trading, reversing earlier declines.

WASHINGTON (AP) — A majority of the nation’s business economists expect a U.S. recession to begin later this year than they had previously forecast, after a series of reports have pointed to a surprisingly resilient economy despite steadily higher interest rates.

WASHINGTON (AP) — The Federal Reserve's preferred inflation gauge ticked higher in January, a sign that price pressures remain entrenched in the U.S. economy and could lead the Fed to keep raising interest rates well into this year. Friday’s report from the Commerce Department showed that consumer prices rose 0.6% from December to January, up sharply from a 0.2% increase from November to December. On a year-over-year basis, prices rose 5.4%, up from a 5.3% annual increase in December.

Microsoft is ready to take its new Bing chatbot mainstream — less than a week after making major fixes to stop the artificially intelligent search engine from going off the rails. The company said Wednesday it is bringing the new AI technology to its Bing smartphone app, as well as the app for its Edge internet browser.

NEW YORK (AP) — Stocks tumbled to their worst day in two months Tuesday, buckling under worries about higher interest rates and their tightening squeeze on Wall Street and the economy. The S&P 500 fell 2% for its sharpest drop since the market was selling-off in December. The Dow Jones Industrial Average lost 697 points, or 2.1%, while the Nasdaq composite sank 2.5%.