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Crain's Chicago Business
Fed expected to signal September rate cut at next week's meeting
The Federal Reserve is likely to signal next week its plans to cut interest rates in September, according to economists surveyed by Bloomberg News, a move they say will kick off reductions each quarter through 2025. Subscribe and get unlimited access to Crain's Chicago Business. Where are all those U-Hauls...
Editorial: These two big-picture projects promise to jolt South and West sides
Apparently, it's the season for dramatic moves and big-picture thinking. Create your free account to continue reading. It's easy to forget that government, when it's run well, is meant to serve a humble purpose: providing the day-to-day services that few of us individually could afford to provide for ourselves. The...
How a software update crippled global IT — and what can be done about it
The CrowdStrike glitch that crashed computer systems on July 19 and caused widespread chaos in industries such as air transport, health care and banking across the globe has been described by some in the media as a “cascading and rippling” process showing up the fragility of interconnected computer systems globally.
McDonald's $5 value meal is slowly bringing diners back
McDonald’s Corp.’s new $5 meal deal has led to a modest increase in US visits and brought back some low-income diners — the first signs that the burger chain’s strategy to appear more affordable is paying off. Subscribe and get unlimited access to Crain's Chicago Business.
Massive South Works quantum project now must get residents on board
The new quantum computing campus planned for the long vacant U.S. Steel South Works site has the support of officials from every level of government, who must now convince nearby residents it's not the latest in a string of failed promises to redevelop the site. Subscribe and get unlimited access...
Board of Education passes $9.9B budget despite pushback from CTU, Johnson
This story was originally published by Chalkbeat. Sign up for their newsletters at ckbe.at/newsletters. Create your free account to continue reading. The new donation builds on a $20 million initiative Trott's family foundation started last year with schools like his alma mater, the University of Chicago. The partnership gives Orange...
Griffin purchased St. Tropez mansion just before buying dinosaur
Ken Griffin has amassed trophy real estate across the US, including some of the most expensive homes in the country in Manhattan and Palm Beach. He’s now taking his spending spree to the French Riviera. Subscribe and get unlimited access to Crain's Chicago Business. Perhaps best known to Chicagoans...
WeatherTech owner tests private-equity buyout interest
MacNeil Automotive Products is in the early stages of reviewing interest from potential buyers, including some private equity firms, according to a report by PE Hub. Subscribe and get unlimited access to Crain's Chicago Business. The move sets the stage for a possible courtroom confrontation with relatives of those who...
Gas prices around Chicago surge after tornado shuts refinery
US drivers in the Great Lakes region are paying higher prices at the pump after a tornado took Exxon Mobil Corp.’s Joliet refinery offline. Subscribe and get unlimited access to Crain's Chicago Business. Who's moving in and out of Chicago? Fed trackers reveal some surprises. The results vary dramatically...
A touch of glass in a Mies building on Lake Shore Drive
A dozen years ago, when Ilene and Bruce Duhan moved from New York to Chicago to be near their grandchildren, the shift of locales also brought them closer to someone they had long admired, Ludwig Mies van der Rohe. Subscribe and get unlimited access to Crain's Chicago Business. The house...
Endotronix being acquired by California life sciences company
Heart failure tech developer Endotronix is being acquired by Edwards Lifesciences a month after receiving regulatory approval for its implantable pulmonary artery sensor. This exclusive Health Pulse content is only available to Health Pulse subscribers. Get a full year of access to Health Pulse + all Crain's Chicago articles and...
Mastercard, JPMorgan in FTC study on consumer pricing
US regulators are examining how companies including Mastercard Inc., JPMorgan Chase & Co. and a portfolio company of a Goldman Sachs Group Inc. unit provide clients with algorithms that use consumers’ personal data to tailor product pricing to individuals — what the agency termed “surveillance pricing.”. Subscribe...
A Prairie-style gem in Brookfield: Crain's Daily Gist podcast
Crain’s residential real estate reporter Dennis Rodkin talks with host Amy Guth about top stories from the local housing market, including a historic Prairie-style kindergarten turned home for sale in Brookfield. Plus: Chicago's donor class opens its pockets for Kamala Harris; Medline exploring IPO, with possible valuation of $50...
Northwestern biotech spinout raises $45 million
Biotech startup Vanqua Bio has raised more money from investors to help it continue developing drugs to treat Parkinson’s and Alzheimer’s diseases. Subscribe and get unlimited access to Crain's Chicago Business. CVS Caremark, one of the nation's largest PBMs, will pay Illinois for rebates the state claims CVS...
Reckitt to review baby formula unit amid legal woes
Reckitt Benckiser Group Plc plans to sell some homecare brands and review options for its infant formula business as the consumer company seeks to revive growth after a period of poor performance. Subscribe and get unlimited access to Crain's Chicago Business. Better-than-expected performance at the medical supplies giant has encouraged...
Geopolitical uncertainty boosts CME's bottom line
Surging trading volumes supported strong earnings growth at CME Group, with investors across a broad range of asset classes using the exchange’s products to hedge global risks. Subscribe and get unlimited access to Crain's Chicago Business. Mark Weinraub is a banking and finance reporter for Crain’s Chicago Business. He...
Byron Trott gives top colleges $150 million for rural recruitment
Byron Trott, who grew up in a small Missouri town and became one of the world’s top bankers, will spend $150 million over 10 years to help more private colleges and public universities recruit rural students. Subscribe and get unlimited access to Crain's Chicago Business. The partnership gives Orange...
Democrats finalize plan to nominate Harris before DNC
A panel of Democratic stalwarts will meet Wednesday to complete a rule change to allow Vice President Kamala Harris to accept her party’s nomination for president weeks in advance of the party’s convention in Chicago. Subscribe and get unlimited access to Crain's Chicago Business. “The path through the...
Chicago's donor class opens its pockets for Harris
As Vice President Kamala Harris tightens her grip on the Democratic nomination for president, her campaign has announced record fundraising hauls that have calmed fears that uncertainty at the top of the ticket would give donors pause. Subscribe and get unlimited access to Crain's Chicago Business. Justin Laurence is a...
PNC van tours South, West sides in bid to reach the ‘unbanked’
Jaliyah Winston was driving through West Pullman when she noticed a blue and orange van bearing the name PNC set up outside a local community resource center. Twenty-five minutes after filling out an application, the 23-year-old had a new checking and savings account. Subscribe and get unlimited access to Crain's...
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