Bay Area jobless rates edge down in September as California holds at 5.1%
California's unemployment rate held at 5.1% in September as the state shed 9,300 jobs, while Bay Area metro rates edged lower, led by a 4% rate in San Francisco-San Mateo.
Finance
10 STORIESBay Area finance and business news: markets, earnings, banks, funding rounds, jobs and housing costs, with links to the original sources.
SoFi launches SOFIE, a tokenized bank deposit paying 4.40% for crypto cash
San Francisco's SoFi launched SoFi Earn (SOFIE), which it calls the first national bank-issued tokenized deposit for consumers. It pays a 4.40% variable APY and is FDIC-insured.
SF fintech CapitalOS raises $21.9 million Series A led by LGVP
San Francisco embedded-finance startup CapitalOS raised $21.9 million in a Series A round led by LGVP. The company says its volume grew more than 20x in 18 months.
Compass: 92% of SF homes sold over asking as Santa Clara cools
Compass says San Francisco homes are drawing intense bidding: 92% of single-family homes sold above list price. Santa Clara County is cooling, with more listings and more price cuts.
SF buyers turn to TICs: Redwood Credit Union lending doubles to $99 million
Redwood Credit Union says its tenancy-in-common (TIC) lending in San Francisco more than doubled between the second half of 2024 and the first half of 2026, as buyers look for cheaper ways to own a home.
Judge tosses ex-Wells Fargo CEO Tim Sloan's $34 million pay lawsuit
Wells Fargo won its pay dispute with former CEO Tim Sloan. A San Francisco judge granted summary judgment against his $34 million suit over compensation the bank withheld.
Intel earnings preview: Wall Street expects 39 cents on $16.45 billion on Oct. 29
Intel reports third-quarter results on Thursday, Oct. 29. Analysts expect adjusted EPS of 39 cents on $16.45 billion in revenue, and several have cut their price targets ahead of the report.
Bay Area chip stocks sink: AMD and Intel drop 8%, Meta 7% in Oct. 22 selloff
Santa Clara chipmakers AMD and Intel each fell about 8% on Thursday, Oct. 22, Meta lost nearly 7% and Nvidia 4.4%, as surging oil prices and worries about who pays for the AI build-out hit tech stocks.
Fremont's Lam Research posts record $8.22B quarter, but supply limits spook investors
Fremont chip-equipment maker Lam Research reported record quarterly revenue of $8.22 billion, up 22% from the prior quarter, and guided to $8.6 billion. Shares fell as much as 11% the next day after its CFO cited supply chain constraints.
Wells Fargo shake-up: Kleber Santos takes sole charge of consumer banking, Van Beurden goes all-in on AI
San Francisco-based Wells Fargo said Oct. 22 that Kleber Santos will run Consumer Banking and Lending on his own, ending a co-CEO setup, while Saul Van Beurden focuses only on AI across the $2.3 trillion bank.