results missed market expectations. delayed results, a missed market expectations. tesla s income and earnings fell by more than 20% in this past quarter compared to the same time last year. it is a big number, but not totally unexpected because the company has been slashing prices of its top selling vehicles over the past year. samira hussain has more from new york. bringing in 20% less income is, well, not good. what helps the electric car maker, however, is that it warned wall street this was coming, so it didn t come as a complete surprise given tesla cut prices on its top selling cars several times last year and in fact did it again this week. now, tesla is grappling with higher borrowing costs for consumers, slowing demand for their cars and so much more competition in the electric car market. so the price cuts did the trick. the company saw a 36% jump in deliveries, but the price cuts also mean that the profit margins on each card sold have gotten smaller. let s stay w
ahead of the trading day on wall street, the u.s. government steps in to protect a failed bank, promising depositors they won t lose a penny. one film won everything, everywhere, all at once on this year s oscar awards. already-flooded parts of california bracing for yet another powerful storm. this is cnn newsroom with rosemary church. thanks for joining us. we begin in the united states where the biden administration is stepping in to contain the fallout from the sudden collapse of silicon valley bank. authorities say customers will have access to all their money starting monday morning. the president also promised to hold those responsible for the bank s failure fully accountable. he will speak about the issue in the coming hours. regulators also shot down another regional institution, signature bank, fearing it was also on the brink of collapse. cnn s arlette saenz has more. reporter: the biden administration took extraordinary steps sunday to ensure that al
the british and us governments scramble to reassure their tech start up sectors after the collapse of one of the main sources of funding, the silicon valley bank. and hollywood is getting ready for its big night we ll take a look at what s in store at the oscars. the impact of bbc sports presenter gary lineker s removalfrom match of the day is continuing to affect the bbc s sports output. the controversy over the broadcaster and his tweets criticising the uk government s policy on asylum seekers shows no sign of abating. he d been told by the bbc to step back from presenting its flagship football show, match of the day. on saturday, it led to widespread disruption of the corporation s football coverage as fellow presenters and commentators pulled out. in the coverage of the women s super league on sunday, there was no bbc in house commentary and there were no pundits to talk about the game either. let s take a look at the background to this now with our correspondent, ste