ABC Business News

Anton Petrus/Getty Images (NEW YORK) — An Ohio public pension fund for teachers revealed it lost millions by holding more than $27 million in Silicon Valley Bank shares before the bank’s collapse. The State Teachers Retirement System

ABC News (NEW YORK) — The CEO behind the company that created ChatGPT believes artificial intelligence technology will reshape society as we know it. He believes it comes with real dangers, but can also be “the greatest

Daniel Acker/Bloomberg via Getty Images (NEW YORK) — Ford announced this week that it is recalling more than 1.2 million of its vehicles over a serious issue with its brake fluid hoses. The National Highway Traffic Safety

NurPhoto/Getty Images (WASHINGTON) — A ban on TikTok in the United States or a sale of the app by its Chinese owner, ByteDance, will not resolve national security concerns or fears TikTok could be used to siphon

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 remarks by

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 some of

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 U.S. government

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 failures in

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 2008. Shares

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 the sharp