>> announcer: this is the "cbs overnight news." good evening. jericka is off. i'm robert costa. the debate over the collapse of silicon valley bank intensified today hours before markets opened worldwide and as some companies braced for possible payroll challenges on monday. biden administration officials expressed confidence that the u.s. financial system remains safe and sound and that depositors nationwide should not worry about losing access to their money. but democrats and republicans remain on edge over the fallout. and there is a divide over who's to blame and what should be done. cbs's skyler henry is at the

white house tonight with the latest. skyler, good evening. >> reporter: hey, robert. good evening to you. well, cbs news has learned that the fdic is looking to auction svb with hopes of a sale before financial markets open tomorrow morning. now, while the treasury secretary says safeguards are in place to prevent the financial collapse we saw in 2008, the big question now is whether what happened to svb is an isolated incident or any of that spillover will impact other financial institutions. federal regulators are scrambling following the sudden collapse of the silicon valley bank. >> we are concerned about depositors and are focused on trying to meet their needs. >> reporter: treasury secretary janet yellen told cbs's "face the nation" today that the department is working fast to address the situation but is ruling out a bailout for svb. the second largest bank collapse in u.s. history is sparking alarm about reverberations amid rising interest rates.

>> we want to make sure that the troubles that exist at one bank don't create contagion to others that are sound. >> reporter: the bank's failure is already affecting the businesses it find including roblox, etsy and roku. the fdic seized control of the bank friday, which had more than $200 billion in assets. today lawmakers on both sides are pointing fingers but are hopeful for a swift resolution and leaving the door open for a possible acquisition of the failed bank. >> it is attractive for someone to want to purchase it. it's just a timeline of where to move forward. and the administration has tools to deal with this. >> the principle needs to be that all depositors will be protected and have full access to their accounts monday morning. >> reporter: cbs news has learned that treasury officials briefed the california congressional delegation today. so what's on the table? >> reporter: yeah, we know that officials want to protect all depositors at svb, not just

those who are insured. right now the fdic covers up to $250,000 in deposits. also, in a letter obtained by cbs news there's a new push by some house lawmakers calling to extend temporary lines of credit for those that deposit at svb, saying that there needs to be calls for assistance with essential costs like payroll. robert? >> skyler henry, thank you. and one more note from washington. president biden tomorrow is expected to announce new protections against oil drilling in alaska and the arctic ocean. the decision comes as regulators prepare whether to announce an oil drilling plan pushed by conoco phillips and see if it's allowed to move forward. to california now. at least eight people dead after two suspected smuggling boats overturned off san diego's coast. it happened last night. thick fog and high tides hampered search efforts. the coast guard says all the victims were adults.

>> since 2017 we've had a 771% increase in human trafficking in the southern california coastal region. since 2021 we've had 23 lives lost at sea. >> the nationalities of the victims are not known. to weather now. a strong nor'easter is expected to blow into the northeast starting tomorrow night, bringing the heaviest snow of the winter. the storm could drop up to a foot of snow in new england and could have wind gusts up to 50 miles per hour. and california is bracing for yet another round of storms, starting tomorrow. destructive flooding battered millions in the state this weekend, forcing evacuations, washing out roads and triggering landslides. cbs's joy benedict joins us with the latest. joy, good evening. >> reporter: good evening, robert. yeah, you can see we are getting a small break in that extreme weather for now. but california is already bracing for the next round of snow and rain expected to

onslaught the golden state that is already pretty battered. evacuation orders and warnings for thousands of people statewide after severe flash flooding caused a levee to fail. washed out miles of roads and prompted more than 100 rescues. swift water rescue crews kept busy in the hard-hit central california farming town of watsonville. >> shocking and sad at the same time. >> reporter: the storm pushed the river over its banks saturday, leaving large swaths of the city underwater, and forced many families into shelters. >> i lost everything on '95, and this would be my second time in the shelter since then. >> reporter: in northern and southern california mountain communities fears that more roofs will collapse from the next round of snow and rain. in storm-weary crestline many have been stranded for weeks. >> i shoveled them mostly out. but even if they could get out

the rest of the way, they'd probably be be too scared to drive around, you know, because it's still kind of sketchy out there. >> reporter: now, the state's largest fire agency, cal fire, says it's responding to about 1500 weather-related calls each and every day as emergency crews really all over the state are working overtime. robert? >> joy benedict, thank you. michael cohen, the long-time lawyer and fixer for former president donald trump, is scheduled to testify monday before a manhattan grand jury. prosecutors are investigating hush money payments cohen says he facilitated on trump's behalf during the 2016 campaign. cohen's appearance comes after trump was invited to testify, but cohen says he does not expect his former boss to though up and discuss the payments made to adult film star stormy daniels. he spoke to reporters friday. >> it's one thing to turn around and to lie on your untruth social. it's another thing to turn

around and lie before a grand jury. >> cohen's testimony is the latest sign trump could face a possible indictment over how his company expensed the payments. endurance coming closer and closer. >> splash down off the coast of tampa, florida. four crew members returned to earth last night after spending 157 days in orbit. most of it on board the international space station. nasa says the crew conducted critical experiments that will pave the way for humans to return to the moon. moments after splashdown astronaut nicole mann, the first native american to fly to space, said that was one heck of a ride. there's new trouble on florida's southwest coast. people are complaining of burning eyes and breathing problems as a flare-up of toxic red tide returns. more than three tons of dead fish have already washed ashore. it's unclear how long this algae bloom will stick around. but officials have already canceled a major beachside festival which was scheduled for

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>> announcer: this is the "cbs overnight news." i'm robert costa in new york. thanks for staying with us. hollywood honored the brightest stars and finest movies of 2022 at last night's academy awards in los angeles. some of the winners and even some of the nominees could one day be seen as classics, viewed for years on streaming or rereleased in theaters. but there are thousans of older films that have been lost forever and there is a movement in the movie business to preserve the ones that remain. ben tracy reports. ♪

♪ baby ♪ martin scorsese's meticulous and unsparing approach to film mainging. >> if we wanted something, we just took it. > reporter: has made him one of the most acclaimed directors of all time. >> you can see the difference clearly here. >> reporter: and in his new york screening room it was quite clear that he's not just passionate about moviemaking but also movie care-taking. >> here you see, now it suddenly comes to life. >> it's like having a cataract removed or something. >> exactly. which i've had done. >> reporter: it's a restored version of 1955's "east of eden" starring james dean. >> the actors come to life when their faces can be really perceived properly. >> if you look like james dean, you want to see your face. >> reporter: this is just one of the more than 950 films restored with the support of the film foundation, which has been essential to preserving cinematic history. it partners with studios and

archives to ensure that everything from classic foreign films to marilyn monroe's final performance once again look like they did when they were first shot. the foundation was started by scorsese in 1990 with a little help from his friends. >> spielberg, francis coppola. we got stanley kubrick. but the key figure was george lucas. >> reporter: like the plot of many a tinseltown thriller, scorsese and his fellow directors realized the threat to the film industry was coming from inside the house. it was film itself. the earliest stock, nitrate film, was highly flammable and could decompose with age. that's a big reason why up to 75% of all silent films have been lost. its successor, acetate film, was safer but had its own issues. and like many a career in hollywood it lacked staying power. >> by the early '70s it was

decreed that every film had to be made in color. and just at that point at which color became so important the negative stock became weaker and within six years whatever prints we could find were fading. and it just seemed crazy. to have to do everything in color and now the color doesn't last. not only it doesn't last up to 20 years. six years? oh, come on. >> reporter: scorsese's fear of fading color was partly why he shot his now classic 1980 film "raging bull" in black and white. >> a left and a right to the head. a hard one. robinson is driven out of the ring. >> reporter: that same year he fired off an urgent letter to filmmakers saying "everything we're doing right now means absolutely nothing." >> it was an angry letter. it was kind of i guess overly enthusiastic. but i wanted to get their attention. >> you were basically putting folks on notice we've got a problem. >> yeah, we've got a real problem here and what we should do is force them to deal with

this. >> reporter: scorsese led a campaign to convince eastman kodak to develop a more stable film stock. and then focused on the studios. worried hollywood's history was vanishing. >> the most important thing was being overlooked, and those were the films in their vaults. >> saving them wasn't necessarily the biggest priority. >> reporter: andrea callas oversees the archive at paramount pictures, our sister company. in the early '80s scorsese presented the major studios with detailed lists of the films they should preserve. >> his encyclopedic knowledge of film is literally unparalleled. >> have you seen the paramount list? >> i have, yeah. it's amazing that he was able to do that, right? to just sit down with the incredible output of every studio and just go yep, no, yep, no, yep, no. it's an important list and it's one that's shared with us so it helps guide our preservation program, among other things. >> reporter: callas was brought

on to expand paramount's preservation effort. they've now restored more than 1,500 films, stored at 28 degrees in this state-of-the-art vault. these films are the source material for each new technology that's come along, from dvds to 4k streaming. >> that's nice. you're seeing a lot more detail in that. >> reporter: even movies you might not consider that old such as 1986's "ferris bueller's day off" already need some work. ♪ i recall central park in fall ♪ paramount recently partnered with the film foundation to restore some of the films from its library. callas says the foundation has been essential in making sure hollywood preserves its film past. >> we also had before and afters in restorations, you know, it looked like crap, now it looks great. same thing with film preservation. before the foundation and after is really dramatic. >> it's been that impactful. >> it's that impactful.

absolutely. >> footloose. >> mm-hmm. >> "saving private ryan." >> reporter: the film foundation also works with institutions like the film archive at the academy of motion pictures arts and sciences, the folks that hand out the oscars. >> the academy wanted to put it skin into the game to be a part of that movement to start taking care of films in need of restoration. >> reporter: mike pogruzelski is director of the archive. >> the images just literally melted away. >> reporter: he says film preservation is not just about caring for oscar winners but lesser known films too. including the 1943 film "the life and death of colonel blimp." a technicolor marvel and scorsese favorite. >> you are livingston, i presume. >> reporter: restoring it was a labor of love. >> extremely complicated because of the fact that there was actually mold spores growing on the film itself.

an absolutely monumental task that no archive could have taken on by itself without the film foundation's support. >> reporter: one of the academy ark yieflz' longest-running projects was a digital restoration with the criterion collection of acclaimed indian filmmaker satyajit ray's apew trilogy. its negatives were severely damaged in a nitrate fire. >> preservation effort moved from taking care of these deteriorating originals to suddenly scouring the world looking for any surviving film elements so they could be pieced together almost in a jigsaw puzzle. in a lot of ways the apew trilogy looks better in the 2000s than it did in the 1950s when the films were brand new. >> what is it like when you sit in a screening room and you see one of these fully restored? >> it is an amazing experience. being able to carry movies like this into the future is one of

the greatest and most meaningful parts of what we do here. >> reporter: this is an italian poster of the first movie i can remember seeing by title. >> reporter: and martin scorsese, who has been called the patron saint of film preservation, is likely to be remembered not only for the films he's made but also for the many he's helped save. >> how important is this part of your legacy to you? >> i've always thought it was more important. i guess i was more of a teacher than a filmmaker. i particularly enjoy younger people seeing these films. and whether their reaction is i reject it completely, i hate it, or they become inspired and make some beautiful works of art that enrich the lives of the whole world. this is what we're here for, to enrich each other's lives up there art. >> that was ben t wondering what actually goes into your multivitamin? at new chapter, its' innovation, organic ingredients, and fermentation. fermentation? yes. formulated to help you body really truly absorb the natural goodness.

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hello, colonial penn? wondering what actually goes into your multivitamin? at new chapter, its' innovation, organic ingredients, and fermentation. fermentation? yes. formulated to help you body really truly absorb the natural goodness. new chapter. wellness, well done. the academy awards painted a glowing picture of hollywood's top films and their stars. but the industry is under tremendous pressure, especially with thousands of local theaters closing down from coast to coast. lilia luciano reports. ♪ let's all go to the lobby ♪ >> reporter: george mitchell's memories are so vivid you can almost smell the pop quorn. from the day motion pictures arrived to his small seaside town of nyan tuk, connecticut. >> i came here for opening

night. they were playing "all the king's men." >> and you came for that first show? >> yes, i did. >> the first day? >> the first day. >> reporter: he says for 30 years looking up at that big screen was like going to church. his family eventually owned and managed the theater. but their story ended last year. >> when the pandemic came, our business dropped to zero. it was the end. it was a death blow for us. >> reporter: though covid may have put the final nail in the coffin, for theaters like mitchell's streaming was already forcing a shift. what has been the impact of streaming on this business? >> oh, it's tremendous. tremendous. i mean, when you see them out of best buy and some of these other places with their 70-inch screens and you know you've lost customers. >> reporter: ticket sales are down about 35% from pre-pandemic levels.

something entertainment journalist matt bellany says is unsustainable for smaller cinema zblpz for a while we thought covid was going to kill theaters in general. what's the pulse of movie >> the result after covid is that we're seeing the box office concentrated in fewer movies. bigger grosses for the movies like "spider man: no way home." "top gun: maverick." "avatar: the way of water." but it is the middle and lower tier that's really struggling. all ten of the p top ten movies in the box office in 2022 were sequels or prequels. and that is very disturbing to a lot of moviegoers who want these kinds of more adult more serious films at theaters so studios have an incentives to put them there. >> what? >> vitamins, peptide t, ddc, anything but that poison you're hawk. "dallas buyer's club," which earned matthew mcconaughey the

best actor oscar and producer rachel winter a best picture nomination in 2014. has what gets made changed? >> once upon a time you had a big giant movie star and you were just guaranteed to hav this wonderful hit. and things have changed. the good news is that with access to content and access to make content there are lots more opportunities to tell different kinds of stories. >> reporter: while streaming companies have made all sorts of films more readily available to larger audiences, winter still laments the downsizing of cinema. >> look, i like being on my couch and in my pajamas and enjoying a movie. i enjoy that as much as the next person. but i will never stop wanting to go to the movies. ♪ >> reporter: and for that to go on bellany says the answer is clear. what can the audience do if we want to see more grown-up movies? >> the wiggest biggest thing you can do if you like seeing these

movies released in theaters is go see them in theaters. ♪ >> (male) there are many voices in today's world. everyone is voicing their opinions about everything, and jesus is no exception to that. what if there was a clear voice telling you exactly who jesus is? (male announcer) join dr. david jeremiah as he teaches who jesus is and what that means for your life. tune in to dr. jeremiah's new series, "christ above all", on the next "turning point", right here on this station.

after two years of pandemic cancellations an international sheep-shearing championship will be held this june in scotland. that's right, sheep shearing. shearers from all over the world are competing to represent their countries. in new zealand roland smith sheared 20 sheep in 16 minutes to win his eighth golden shears open title. ian lee has the story. >> reporter: in a country like new zealand where sheep outnumber people 5 to 1, someone was bound to turn it into a competition. it takes tenacity and perseverance if you want to win here. only the best sheep shearers gather for the annual golden shears competition. >> you need to be fit in your

body physically but you also need to have the mental strength as well to be able to pull you through. >> reporter: competitors race to give eight sheep a close shave. and the skill isn't for the faint of heart, considered by many as the toughest job on the farm. >> it's unbelievable. the pressure it puts on your body and the energy levels you use. >> reporter: the fleece flies as competitors then separate the wool. kieran herbert says she learned her shearing skills from some true legends. >> some of them are gone now. they're up in the heavens. if they were here they'd be kicking our butts. >> reporter: they finish by sweeping the floor of the competition and the wool before someone is crowned the sharper shearer in the land. ian lee, cbs news. >> and that's the "overnight news" for this monday. for some of you the news continues. for others check back later for "cbs mornings." and follow us online anytime at

cbsnews.com. reporting from the broadcast center in new york city, i'm be kofsa. this is "cbs news flash." i'm matt pieper in new york. president biden says he will address the banking crisis. this as two banks have now failed within a matter of days. the federal reserve says all deposit accounts at both institutions silicon valley bank and signature bank in new york will be guaranteed. south korean and american troops begin 11 days of joint military drills. they come just as north korea test-fired two strategic cruise missiles from a submarine. and at the oscars "everything everywhere all at once" wins the night's big award, best picture. the film won seven oscars in all, including best actress for michelle yeoh. the first asian woman to win that category. for more download the cbs news

app on your cell phone or connected tv. i'm matt pieper, cbs news, new york. bracing for more banking shock waves. government regulators this weekend race to address the sudden collapse of silicon valley bank. treasury secretary janet yellen reassuring americans about their savings amid fears of a wider fallout. >> what i do want to do is emphasize that the american banking system is really safe and well capitalized. also, eight people are killed after suspected smuggling boats capsize off the san diego coast. new storm. battered by destructive flooding, california readies for more extreme weather. >> we are dealing with rain and wind events that i can only describe as a super soaker saturation event. legal jeopardy?

former president trump stumps in iowa with his former fixer set to talk to manhattan prosecutors about their hush money investigation. plus roman catholics mark a milestone. >> i'm chris livesay in rome where it's been ten historic years since francis became pope. and later, they are on the front line in ukraine's fight to preserve its culture. why the show goes on despite russia's war. >> why is it so important to still dance? >> translator: we want the world t see that ukraine also has its own incredible culture. >> announcer: this is the "cbs overnight news." good evening. jericka is off. i'm robert costa. the debate over the collapse of silicon valley bank intensified today hours before markets opedo

biden administration officials expressed confidence that the u.s. financial system remains safe and sound and that depositors nationwide should not worry about losing access to their money. but democrats and republicans remain on edge over the fallout, and there is a divide over who's to blame and what should be done. cbs's skyler henry is at the white house tonight with the latest. skyler, good evening. >> reporter: hey, robert, good evening to you. well, cbs news has learned that the fdic is looking to auction svb with hopes of a sale before financial markets open tomorrow morning. now, while the treasury secretary says safeguards are in place to prevent the financial collapse we saw in 2008, the big question now is whether what happened to svb is an isolated incident or any of that spillover will impact other financial institutions. federal regulators are scrambling following the sudden collapse of the silicon valley bank. >> we are concerned about depositors and are focused on

trying to meet their needs. >> reporter: treasury secretary janet yellen told cbs's "face the nation" today that the department is working fast to address the situation but is ruling out a bailout for svb. the second largest bank collapse in u.s. history is sparking alarm about reverberations amid rising interest rates. >> we want to make sure that the troubles that exist at one bank don't create contagion to others that are sound. >> reporter: the bank's failure is already affecting the businesses it financed including roblox, etsy and roku. the fdic seized control of the bank friday, which had more than $200 billion in assets. today lawmakers on both sides are pointing fingers but are hopeful for a swift resolution and leaving the door open for a possible acquisition of the failed bank.

>> it is attractive for someone to want to purchase it. it's just a timeline of when to move forward. and the administration has tools to deal with this. >> the principle needs to be that all depositors will be protected and have full access to their accounts monday morning. >> reporter: cbs news has learned that treasury officials briefed the california congressional delegation today. so what's on the table? >> reporter: yeah, we know that officials want to protect all depositors at svb, not just those that are insured. right now the fdic covers up to $250,000 in deposits. also, in a letter obtained by cbs news there's a new push by some house lawmakers calling to extend temporary lines of credit for those that deposit at svb, saying that there needs to be calls for assistance with essential costs like payroll. robert? >> skyler henry, thank you. and one more note from washington. president biden tomorrow is expected to announce new protections against oil drilling in alaska and the arctic ocean. the decision comes as regulators prepare whether to announce an

oil drilling plan pushed by conoco phillips and see if it's allowed to move forward. to california now. at least eight people dead after two suspected smuggling boats overturned off san diego's coast. it happened last night. thick fog and high tides hampered search efforts. the coast guard says all the victims were adults. >> since 2017 we've had a 771% increase in human trafficking in the southern california coastal region. since 2021 we've had 23 lives lost at sea. >> the nationalities of the victims are not known. to weather now, a strong nor'easter is expected to blow into the northeast starting tomorrow night, bringing the heaviest snow of the winter. the storm could drop up to a foot of snow in new england and could have wind gusts up to 50 miles per hour. and california is bracing for yet another round of storms starting tomorrow. destructive flooding battered millions in the state this weekend, forcing evacuations,

washing out roads and triggering landslides. cbs's joy benedict joins us with the latest. joy, good evening. >> reporter: good evening, robert. yeah, you can see we are getting a small break in that extreme weather for now, but california is already bracing for the next round of snow and rain, expected to onslaught the golden state that is already pretty battered. evacuation orders and warnings for thousands of people statewide after severe flash flooding caused a levee to fail, washed out miles of roads and prompted more than 100 rescues. swift water rescue crews kept busy in the hard-hit central california farming town of watsonville. >> shocking and sad at the same time. >> reporter: the storm pushed the harrow river over its banks saturday leaving large swaths of the city underwater and forced many families into shelters.

>> i lost everything on '95 and this would be my second time in the shelter since then. >> reporter: in northern and southern california mountain communities fears that more roofs will collapse from the next round of snow and rain. in storm-weary crestline many have been stranded for weeks. >> i shoveled them mostly out. but even if they could get out the rest of the way they'd probably be too scared to drive around, you know? it's still kind of sketchy out there. >> reporter: now, the state's largest fire agency cal-fire says it's responding to about 1,500 weather-related calls each and every day as emergency crews really all over the state are working overtime. robert? >> joy benedict, thank you. there is a lot more news ahead on the "cbs overnight news."

>> announcer: this is the "cbs overnight news." michael cohen, the long-time lawyer and fixer for former president donald trump, is scheduled to testify monday before a manhattan grand jury. prosecutors are investigating hush money payments cohen says he facilitated on trump's behalf during the 2016 campaign. cohen's appearance comes after trump was invited to testify, but cohen says that he does not expect his former boss to show up and discuss the payments made to adult film star stormy daniels. he spoke to reporters friday. >> it's one thing to turn around and to lie on your untruth social. it's another thing to turn around and lie before a grand jury. >> reporter: cohen's testimony

is the latest sign trump could face a possible indictment over how his company expensed the payments. today pope francis asked for prayers as he marks ten years as head of the roman catholic church. a papacy of reform and pushback. cbs's chris livesay is in rome tonight and joins us with more. chris, good evening. >> reporter: good evening, robert. pope francis says he came to rome with little more than a small bag, imagining he would never be here for very long. instead, ten years ago he made his first appearance as pope from that balcony right behind me and neither his life nor the papacy would ever be the same again. from day one this papacy was different. >> buona sera. >> translator: i want to ask you a favor, he said, before the bishop blesses the people i ask you pray to the lord to bless me.

it's been called the francis revolution. his supporters say transforming the culture of the church from authoritarianism and power to service and kindness. taking his name after saint francis of assisi, he shunned the lavish papal apartments, residing instead all this time in a modest hotel for visiting priests. he's washed prisoner' feet and championed refugees and migrants. even cracked open the door for the lgbtq community, with a single phrase. "who am i to judge?" >> we knew it wasn't going to be business as usual. >> reporter: cbs news vatican analyst father anthony figueiredo. >> pope francis has often talked of the church as a field hospital. so he doesn't want closed doors. he wants an open door policy. >> reporter: but that, he says, has created tension with the more traditional wing of the church. >> he likes opening processes but not necessarily closing

them. and that can really shake the ground under your feet. >> reporter: no topic has been more damaging to the church than clerical sex abuse. in 2019 francis called senior clerics from around the world to the vatican, mandating that every diocese set up clear processes for reporting abuse. but today little discipline has come to the bishops accused of harboring predator priests, says mike mcdonnell of the survivors network of those abused by priests. >> right now it is appearing that no one has done less than this papacy itself. >> chris livesay joins us now. chris, the pope is 86 years old. what's your latest reporting on whether he will retire like his predecessor or perhaps serve until the end of his life? >> reporter: you know, pope francis has made it very clear recently that he will only step down if he's incapacitated by ill health.

now, recently we've seen him in a wheelchair a lot because of pain in his hip and in his knee. but to that question he quipped, "in order to govern you don't need your legs. you just need your head." robert? >> thank you, chris livesay. hollywood honors the best in film tonight at the 95th annual academy awards. but all that glitters is not gold for theaters despite some box office hits this year. cbs's naomi ruchim joins us for more. naomi, good evening. >> reporter: robert, good evening. movie theaters are struggling. the u.s. has lost more than 0 e th t pandemic. but studios are betting big on blockbusters in 2023, hoping audiences will come back. >> hollywood is aglow for its own crowning event, the annual academy awards. >> reporter: hollywood's biggest night is a long way from its golden age. the movie theater business is still reeling from the pandemic, which cratered audience attendance and fueled an explosion of streaming services.

>> the pandemic accelerated a lot of business practis that may have taken many more years to happen and now i think the movie theater industry is just adjusting. ♪ >> reporter: suspicious minds may have noticed they paid a little extra to see elvis shake it on the big screen this year. the average price of a ticket rose to more than $10 last year, up more than a dollar from 2019. blockbusters made a comeback this year. "avatar: the way of water" and "top gun: maverick" -- >> "top gun" saved the movie theaters and then "everything everywhere all at once" saved indie cinema. >> reporter: and releasing more movies could be the key to survival for some theaters. the largest movie theater chain i the country will soon begin charging extra for a premium viewing experience. amc's new sight line seating means the better the view the bigger the price. robert? >> naomi ruchim, thanks. there is a lot more news ahead

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>> reporter: even though the doors are open again at this location of the famous piroshki piroshki bakery in seattle, business is down 85%. >> we only have two employees now vs. having 15, 16 in 2019. we're losing money every month. >> reporter: when we first met owner olga seguin last fall sales were so bad she had to close three stores. >> what happened to business downtown? >> it disappeared. >> what about all those corporate workers that used to be your customers? >> they're at home in suburbs. >> reporter: even seattle's mayor admitted downtown was changing. >> it will never be the good old days where everyone is downtown working. >> reporter: it's happening around the country. a new berkeley study analyzes cell phone gps data to track activity and rank the economic recovery of 62 north american cities. san diego's near the top of the list with plenty of housing and entertainment, but seattle is near the bottom, along with san francisco, which lost about 150,000 office workers. >> a lot of these professional services don't have to be face to face.theyave no rean to c ck.te studyuthor tary

chapel says skyrocketing housing prices are also a problem. >> you want people downtown 24/7, maybe put some more affordable housing in downtown areas. >> reporter: so seattle's now considering modifying zoning so unused offices can be turned into apartments. >> thinking a bit more as a neighborhood, it's got to be one of our strategies. >> reporter: markham macintyre is seattle's director of economic development. >> it's how are we an arts culture and entertainment district, a shopping district, an incubator for new entrepreneurs and a social space. all of those have to be in the mix for that future downtown to be successful. >> reporter: the city hopes recent announcements like amazon requiring employees to be in the office at least three days a week starting in may will also help bring back foot traffic. chamber of commerce president rachel smith supports a hybrid work week. >> you don't have to come and sit in the same chair that you sat in before for 40 hours a week for us to have a vibrant downtown. that's not a requirement. >> behind you. >> reporter: meanwhile, seattle

business owners are still waiting for the downtown rebound. >> the changes are coming and we're seeing them little by little. >> thank you so much. >> reporter: carter evans, cbs wondering what actually goes into your multivitamin? at new chapter, its' innovation, organic ingredients, and fermentation. fermentation? yes. formulated to help you body really truly absorb the natural goodness. new chapter. wellness, well done. yo! you gotta try this new axe. it's the fine fragrance g.o.a.t.! ♪

♪ ♪ ♪ the new axe fine fragrance collection. smell finer than the finest fragrances with the g.o.a.t. wondering what actually goes into your multivitamin? at new chapter, smell finer than the finest fragrances its' innovation, organic ingredients, and fermentation. fermentation? yes. formulated to help you body really truly absorb the natural goodness. new chapter. wellness, well done. in ukraine where for more than a year after vladimir putin's invasion citizens are showing solidarity and resilience, that includes soldiers fighting on the battlefield to artists on the stage. here's imtiaz tyab. ♪ >> reporter: they are the front line in ukraine's fight to preserve its cultural heritage.

armed with pirouettes, pliets and jetes in a battle of survival of an art form they've dedicated their lives to. like olga kifyak von kramer, the prima ballerina at ukraine's national ballet. ukraine is still at war. you're still dancing. why is it important to still dance? "we want the world to see ukraine also has its own incredible culture," she says. "and that's why we continue to dance. we dance in spite of russia." when vladimir putin launched his invasion one year ago, the curtain went down on stages across the country, leading some ukrainian performers to pick up arms and join the fight, including oleksandr shapaval. he was the principal dancer at the ukraine national ballet, a once in a generation talent who over the course of 28 seasons performed in 30 different roles. but he will never dance again. in september the 48-year-old father of two was killed in a russian mortar attack.

for mikita sukurugov shapaval was a mentor and friend. he's now taken over the role as the company's principal dancer, a role sukurugov feels the weight of. how did you feel when you learned oleksandr died? >> it was very difficult i think for all company. it was very difficult. >> it really brought the war here, back to this company. >> yep. yeah. >> reporter: but here at the national opera theater in kyiv for a brief moment in time audiences are transfixed by dazzling performances on stage. but the horrors of this war are never far including for kifyak von cramer whose brother died fighting in eastern ukraine in august. still, she says, nothing will stop her from performing. "yes, it's hard," she says. "but we are ukrainians. we are unbreakable."

♪ an unbreakable spirit on the front lines and on stage. imtiaz tyab, cbs news, kyiv, ukraine.

harriet tubman remembered by history as one of the conductors on the underground railroad has been honored by a new monument in newark, new jersey. and it stands in a city square that now bears her name. elaine quijano reports. >> reporter: abolitionist harriet tubman marched to her own drum, and that's how she was celebrated. this soaring 25-foot monument was a two-year project inspired by this iconic image of tubman. her life story is part of an audio installation. >> she found the north star. >> reporter: narrated by singer and actor queen latifah, who was born in newark. what is it that you hope people take away from hearing about harriet tubman's story? >> i hope they take away renewed strength, inspiration, humanity, compassion.

you know, what harriet tubman did was about freedom, was about compassion for those who did not have it. >> reporter: tubman escaped slavery and risked her freedom to lead about 70 enslaved people by the underground railroad, a network of safe houses that led north, including this church in newark with hidden tunnels. at the site visitors will learn tubman was also a spy in the union army and an advocate for women's rights and the elderly. monument designer nina cook john placed a mosaic of tubman's face at eye level intentionally. >> you can look into her eyes and touch her face and connect to her humanity. it could be your mother, your aunt, your grandmother. and in so doing be that much more inspired by her. >> reporter: elaine quijano, cbs news, newark, new jersey. >> and that's the "overnight news" for this monday. for some of you the news continues. for others check back later for "cbs mornings." and follow us online anytime at cbsnews.com. reporting from the broadcast

center in new york city, i'm robert costa. this is "cbs news flash." i'm matt pieper in new york. president biden says that this morning he will address the banking crisis. this as two banks have now failed within a matter of days. the federal reserve says all deposit accounts at both institutions, silicon valley bank and signature bank in new york, will be guaranteed. south korean and american troops begin 11 days of joint military drills. they come just as north korea test-fired two strategic cruise missiles from a submarine. and at the oscars "everything everywhere all at once" wins the night's big award, best picture. the film won seven oscars in all, including best actress for michelle yeoh, the first asian woman to win that category. for more download the cbs news app on your cell phone or

connected tv. i'm matt pieper, cbs news, new york. it's it's monday, march 13th, 2023. this is the "cbs morning news." financial failure. the collapse of silicon valley bank rattles main street to wall street. how the u.s. government is stepping in to protect customers and their money. >> i lost everything in '95. this will be my second time in the shelter since then. >> flooding, mudslides, and rescues. an atmospheric river hammers parts of california as another major storm takes aim at the state tonight. historic night. "everything everywhere" wins secretary of oscars including best picture. why one winner almost gave up his dream. >>od