Ald. Byron Sigcho-Lopez (25th Ward) recently hosted a meeting Tuesday with vendors to reassure them he will be fighting to keep the retail hub open. Novak Construction, the mall’s owner, extended vendors’ leases until the end of March.
Business
“As we continue to work with our advisors to consider multiple paths, we are implementing actions to manage our business as efficiently as possible,” a Bed Bath and Beyond spokesperson said. “This store fleet reduction expands the company’s ongoing closure program.”
For months, the Fed has been warily watching the U.S. economy’s robust job gains out of concern that employers, desperate to hire, will keep boosting pay and, in turn, keep inflation elevated. But January’s blowout job growth coincided with an actual slowdown in wage growth.
In a joint statement with ComEd released hours before she officially presented the massive deal to the City Council, Lightfoot touted the agreement as “a big win for Chicago” that will “accelerate an equitable transition to clean, renewable energy.”
Pay and benefits for America’s workers grew at a healthy but more gradual pace in the final three months of 2022, a third straight slowdown, which could help reassure the Federal Reserve that wage gains won’t fuel higher inflation.
Activists said "bad actors" lie about rideshare and delivery drivers to avoid paying. The Chicago ordinance would allow app drivers accused of misconduct to share their story and recoup income if they were found to be unfairly deactivated.
If the embattled online retailer still wants to build its tower in Skokie, the company will have to start the approval process back at square one, village trustees said.
All told, the national average has climbed by more than 9% since the end of last year — the biggest increase to start a year since 2009, according to Bespoke Investment Group.
Southwest canceled about 16,700 flights over the last 10 days of December. The U.S. Department of Transportation is investigating whether the airline deceived customers by knowingly scheduling more flights than it realistically could handle.
A technical delay is holding up payments to providers who care for children of low-income families that are part of the state’s Child Care Assistance Program, designed to help parents go to work or school with the help of subsidized child care.
In a span of less than 12 months, nearly all of the biggest cryptocurrency equivalent of a banks have failed spectacularly. Last week, Genesis filed Chapter 11, joining Voyager Digital, Celsius and BlockFi on the list of companies that have either filed for bankruptcy protection or gone out of business.
How exactly are streets organized in Chicago? WTTW News gives you a guided tour of the grid system that organizes the city’s streets and addresses.
The Illinois Department of Financial and Professional Regulation announced the latest timeline and application process for obtaining a cannabis dispensary license.
It is the company’s biggest-ever round of layoffs and adds to tens of thousands of other job losses recently announced by Microsoft, Amazon, Facebook parent Meta and other tech companies as they tighten their belts amid a darkening outlook for the industry. Just this month, there have been at least 48,000 job cuts announced by major companies in the sector.
A coalition of community-led groups just received $10 million from the Pritzker Traubert Foundation to help fund a wide-ranging project. It’ll bring together a range of services and opportunities — from health and wellness, to arts and culture and beyond.
Utilities companies like ComEd and Peoples Gas make money by delivering energy. The rates they’re seeking to hike are for distribution, including infrastructure like pipes and transmission lines, and the profit they can tack on to those costs.
