Chicago Business News - Money, Financial & Corporate News | NBC Chicago

Chicago Business News - Money, Financial & Corporate News

Wednesday, Aug 1, 2018 at 03:03 PM CDT

Wells Fargo to Pay $2.1 Billion for Role in Housing Bubble

Wells Fargo to Pay $2.1 Billion for Role in Housing Bubble

Wells Fargo agreed Wednesday to pay a $2.1 billion fine to settle allegations it misrepresented the types of mortgages it sold to investors during the housing bubble that ultimately led to the 2008 financial...

Wednesday, Aug 1, 2018 at 06:47 PM CDT

Boston Man Accused of Stealing $2M in Cryptocurrency

Boston Man Accused of Stealing $2M in Cryptocurrency

A college student from Boston was arrested last month after allegedly stealing at least $2 million in cryptocurrency and hacking phones owned by tech executives, according to prosecutors in California. Joel...

Wednesday, Aug 1, 2018 at 01:55 PM CDT

The Fed Didn't Raise Rates This Time, But Will Again. Here's How to Prepare for the Next Hike

The Fed Didn't Raise Rates This Time, But Will Again. Here's How to Prepare for the Next Hike

The Federal Reserve did not raise interest rates Wednesday, but it did set the stage for a September hike. That gives consumers time to firm up their finances. Fed officials, including Chairman Jerome Powell...

Wednesday, Aug 1, 2018 at 03:22 PM CDT

Apple Jumps 6%, Ends Trading Shy of $1 Trillion Market Cap

Apple Jumps 6%, Ends Trading Shy of $1 Trillion Market Cap

Apple shares gained almost 6 percent Wednesday after a strong fiscal third-quarter report, but ended trading shy of a highly anticipated $1 trillion market value.  The stock closed at $201.50,...

Wednesday, Aug 1, 2018 at 08:55 AM CDT

30M Will Owe More Taxes From Low Withholding, Auditors Find

30M Will Owe More Taxes From Low Withholding, Auditors Find

Congressional auditors say about 30 million people — 21 percent of U.S. taxpayers — will have to come up with more money to pay their 2018 taxes next year because their employers withheld too little from...

Tuesday, Jul 31, 2018 at 03:02 PM CDT

Trump Admin. Says Driving Is Riskier If Fuel Standards Tough

Trump Admin. Says Driving Is Riskier If Fuel Standards Tough

The Trump administration says people would drive more and be exposed to increased risk if their cars get better gas mileage, an argument intended to justify freezing Obama-era toughening of fuel standards. Tra...

Tuesday, Jul 31, 2018 at 02:02 PM CDT

Chipotle's New Management Still Has the Old Problem: Food Safety

Chipotle's New Management Still Has the Old Problem: Food Safety

Chipotle Mexican Grill's new CEO Brian Niccol is facing his first big test — a food safety outbreak. The burrito chain briefly closed down one of its restaurants in Powell, Ohio Monday after a number of...

Tuesday, Jul 31, 2018 at 01:04 AM CDT

Levi's, Yelp Join Coalition Pledging Not to Discriminate

Levi's, Yelp Join Coalition Pledging Not to Discriminate

Levi Strauss, Yelp and Lyft are leading a coalition of 1,200 businesses and cities that are pledging not to discriminate against employees or customers based on race, sexual orientation, or other characteristic...

Monday, Jul 30, 2018 at 01:40 PM CDT

Chicago's Rock 'n' Roll McDonald's is Nearly Unrecognizable

The iconic rock 'n' roll-themed McDonald's at Clark and Ontario streets in Chica...View gallery

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Monday, Jul 30, 2018 at 10:11 AM CDT

Full-Scale Bailout for Industries Impacted by Tariffs Would Cost $39 Billion, Chamber of Commerce Says

Full-Scale Bailout for Industries Impacted by Tariffs Would Cost $39 Billion, Chamber of Commerce Says

Spreading a bailout across all industries affected by the ongoing trade war would cost taxpayers $39 billion, according to a U.S. Chamber of Commerce analysis. The Chamber opposes the billions in tariffs that...

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