Money

By Ramishah Maruf, CNN Roku held approximately $487 million of its $1.9 billion in cash at Silicon Valley Bank, which collapsed Friday and was taken over by the Federal Deposit Insurance Corporation, the streaming technology company disclosed in an SEC filing. That’s approximately 26% of the company’s cash and cash equivalents, Roku said, adding that

By Nathaniel Meyersohn, CNN A toy company based in New York has gotten caught up in the collapse of Silicon Valley Bank and is pleading with customers for help keeping it afloat. Camp, a venture-backed retailer, sent an email to customers Friday announcing it was slashing prices and would use sales to help fund its

By Lauren del Valle, CNN United States District Judge Lewis Kaplan indicated at a hearing Friday he might modify FTX founder Sam Bankman-Fried’s bail conditions, but only after attorneys further tighten the restrictions on Bankman-Fried’s access to technology. Kaplan said he’s still not convinced that the founder of bankrupt crypto trading platform FTX wouldn’t be

By Parija Kavilanz, CNN Adidas has received hundreds of offers for the mountain of unsold Yeezy shoes designed by Ye, the artist formerly known as Kanye West. Its CEO would prefer to just get rid of them entirely, but is struggling to figure out how to do it. Adidas broke off its lucrative nine-year partnership

By Nicole Goodkind, CNN The US labor market is remarkably strong — unemployment is sitting at five-decade lows even as the Federal Reserve does all it can to cool the economy in its fight against inflation. Wage growth is also increasing as demand for labor outpaces supply. But not all workers have benefited equally from

By Anna Cooban and Laura He, CNN Markets in Europe and Asia tumbled Friday following a sharp selloff in banking stocks in the United States as a major tech lender said it had to sell shares to plug a hole in its finances. SVB Financial Group, which is partnered with nearly half of all venture-backed

By Alicia Wallace, CNN The US economy added 311,000 jobs in February, according to the latest monthly employment snapshot from the Bureau of Labor Statistics released Friday. That’s a pullback from the blockbuster January jobs report, when a revised 504,000 positions were added, but shows the labor market is still emitting plenty of heat. The

By Hanna Ziady, CNN London is used to punching well above its weight in global financial markets. For years, the London Stock Exchange attracted an outsized share of investor capital relative to the size of the UK economy, reflecting the international nature of its listed companies. In 2000, UK-listed equities made up 11% of the

By Oliver Darcy, CNN Bob Iger’s vision for Disney is coming into greater focus. In his appearance at Morgan Stanley’s annual Technology, Media & Telecom Conference, Iger spoke at length about the future of the entertainment Goliath he once again finds himself leading, providing a glimpse into his plans for the media powerhouse. The CEO

By Parija Kavilanz, CNN More than 3.2 million Calico Critters toys that were sold in a set with a baby bottle and pacifier accessories are being recalled because they pose a serious choking hazard for small children, the Consumer Product Safety Commission said Thursday. Epoch Everlasting Play, based in Pine Brook, New Jersey, makes the

By Nathaniel Meyersohn and Matt Egan, CNN Visa, Mastercard and Discover announced they will pause a plan to implement a new merchant category code for the nation’s gun retailers after political pressure from Republicans. The measure that was designed help flag potential mass shooters and gun traffickers. In the wake of mass shootings, some financial

By Nicole Goodkind, CNN Fear overtook Wall Street Thursday after SVB Financial Group, a bank that lends primarily to tech companies, told investors it had to sell $1.75 billion in shares at a loss in order to cover rapidly declining customer deposits. That triggered losses across the banking sector and concern that the Federal Reserve’s