The European carmaker said it will “idle” the assembly plant in Belvidere, Illinois on Feb. 23 and said the layoffs are expected to exceed six months.
Economy
A spokesperson for Uber, said firm officials were “pleased to put this matter behind us.”
This week, CASHDROP founder Ruben Flores-Martinez announced he is putting $1 million of his own equity into what he calls the Latino Renaissance Fund, which will be distributed to 1,000 Latino-owned businesses.
Between supply chain problems, inflation and the shadow of a pandemic, the outlook for small retail and food businesses continues to be uncertain this holiday season.
As head of a regional Fed bank, Goolsbee will have a vote on the central bank’s interest rate decisions in 2023. Each year, four of the regional bank presidents rotate into voting positions on the Fed’s rate-setting committee.
Researchers say despite the pandemic and inflation concerns this year, people are still giving their money — but cautiously.
Online shopping hit record levels last Friday, despite consumers’ concerns about the economy being at the highest level since the 2008 Great Recession.
The stand-off between railroad companies and a dozen unions representing workers from conductors to locomotive engineers is for the second time heading toward a possible strike.
Delinquent properties are eligible for the Cook County Tax Sale, which is administered by the Cook County treasurer’s office. That’s where a private investor buys the debt and can make a big profit off of it.
Americans are bracing for a costly Thanksgiving this year, with double-digit percent increases in the price of turkey, potatoes, stuffing, canned pumpkin and other staples.
This year, some turkey farmers have been impacted by avian influenza, which affected more than 50 million birds, according to the CDC. No commercial flocks in Illinois have been affected.
The ambitious plan included a community center, a technology hub, partnerships to offer free tuition and provisions for contracting with Chatham’s small service businesses.
The budget takes effect Jan. 1, 2023, approximately two months before Mayor Lori Lightfoot is set to ask voters for a second term as Chicago mayor, does not include a property tax hike to keep up with the soaring rate of inflation, or any other tax or fee hikes.
Friday’s report from the government showed that hiring was brisk across industries last month, though the overall gain declined from 315,000 in September. The unemployment rate rose from a five-decade low of 3.5% to a still-healthy 3.7%.
Mayor Lori Lightfoot’s plan to close a projected $170.6 million budget gap in 2023 relies on booming tax revenues that she said proves Chicago’s budget has fully recovered from the economic catastrophe caused by the COVID-19 pandemic.
The Fed’s move raised its key short-term rate to a range of 3.75% to 4%, its highest level in 15 years. It was the central bank’s sixth rate hike this year — a streak that has made mortgages and other consumer and business loans increasingly expensive and heightened the risk of a recession.
