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Crain's Chicago Business
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...
Medline exploring IPO, with possible valuation of $50 billion
Medline Industries Inc. is exploring an initial public offering that could value the medical supplies giant at as much as $50 billion, people familiar with the matter said. Subscribe and get unlimited access to Crain's Chicago Business. Rush health system’s computer systems were impacted by the global outage last night,...
After floating Jamie Dimon for Treasury secretary, Trump denies he ever did
Former President Donald Trump is disavowing a previous statement that he would consider JPMorgan Chase & Co. Chief Executive Officer Jamie Dimon for Treasury secretary — and denied that he was considering BlackRock Inc.’s Larry Fink, too. Subscribe and get unlimited access to Crain's Chicago Business. Her biggest...
Intersect Illinois hires physicist to recruit quantum companies
Intersect Illinois, the public-private group that takes the lead in recruiting companies to the state, has hired a chief quantum officer from the University of Chicago. Subscribe and get unlimited access to Crain's Chicago Business. “I don’t think it’s too early to call it: This will be the largest IT...
Walgreens wins $25M federal grant for COVID vaccine trial
Walgreens will conduct a Phase IV clinical study of responses to COVID-19 vaccines using a wealth of data from its nationwide network of pharmacies, the Deerfield-based company announced today. The trial is backed by a $25 million grant from the federal Biomedical Advanced Research & Development Authority, or BARDA. It...
Kamala Harris vows to 'put my record' against Trump's in Milwaukee rally
Vice President Kamala Harris assailed Republican Donald Trump in her first rally since launching her bid for the White House, characterizing their contest as a choice between two starkly divergent agendas for the US economy. Subscribe and get unlimited access to Crain's Chicago Business. The roll call at the Chicago...
UChicago aims to jump-start life sciences inventions with Orange Grove partnership
The University of Chicago and biopharmaceutical investment firm Orange Grove Bio have established a partnership designed to commercialize promising life sciences technologies, create internship opportunities for students and enhance the city's biotech industry. Subscribe and get unlimited access to Crain's Chicago Business. The CTU, which helped elect Mayor Brandon Johnson,...
Ariel's John Rogers tapped for top post at Economic Opportunity Coalition
Ariel Investments founder John Rogers Jr. joined the Economic Opportunity Coalition, a group focused on aligning public and private investments to grow opportunities in underserved communities, as chair of its management committee. Subscribe and get unlimited access to Crain's Chicago Business. Mark Weinraub is a banking and finance reporter for...
Historic Prairie Style kindergarten, now a house, for sale in Brookfield
A Prairie Style house in west suburban Brookfield, originally built as a kindergarten by an education reformer and women's suffrage activist, is on the market. Subscribe and get unlimited access to Crain's Chicago Business. The condo is the latest of Ken Griffin's Chicago holdings to hit the market since the...
Soccer teams in a league of their own when it comes to stadiums
While most of the headlines around stadium financing in Chicago have centered on American football and baseball, owners of the city’s professional soccer teams are listening intently. On one hand, there’s Joe Mansueto, billionaire entrepreneur and owner of Major League Soccer's Chicago Fire club. Until 2019, the Fire played...
In Kellanova ad agency review, IPG wins big
Kellanova has expanded its relationship with Interpublic Group after an agency review. IPG’s FCB won Pringles, which had been at WPP’s Grey. FCB will also lead Cheez-It (in the U.S.), Eggo and Rice Krispies Treats, while partnering with The Martin Agency and MullenLowe across global markets. Subscribe and...
Pennsylvania cannabis coalition says there’s still a path for adult-use legalization
The technical debate about what an adult-use market would look like is possibly the biggest stumbling block. Despite earlier reports that recreational cannabis legalization in Pennsylvania may have to wait until next year after being left out of the state budget, the spokeswoman of a pro-marijuana coalition said there’s still a window this coming fall for a bill to get through to Gov. Josh Shapiro’s desk.
State Democratic Party urges local delegates to keep mum for now
Following President Joe Biden’s historic exit from the presidential race, members of the Illinois delegation to the upcoming Democratic National Convention in Chicago are being urged by the state party to “hold back from reacting publicly” as top Democrats scramble to either rally around the candidacy of Vice President Kamala Harris or hold a competitive primary.
President Joe Biden exits re-election campaign
After nearly a month of speculation and agonizing internal debate, President Joe Biden today announced he is exiting the campaign for re-election, tipping the Democratic Party and indeed the nation into uncharted political waters. Create your free account to continue reading. The president said he would stay on the road...
Commentary: Bears' need for a 'shiny new home' isn't as urgent as other civic needs
With the Chicago Bears and White Sox both seeking public support to build shiny new homes while so many Chicagoans are struggling with homelessness and rising housing costs, Friends of the Parks sees this as a critical moment to reflect on not just our civic values, but the value we place on our civic assets. Can these megadevelopments deliver enough public benefits in enough time to justify what they are seeking from public coffers?
Lifeway Foods shareholders renew calls for CEO to resign as family feud heats up
The widow of Lifeway Foods' founder and her son are renewing efforts to oust their blood relative CEO and remove a slew of other directors from the Morton Grove-based kefir maker. Subscribe and get unlimited access to Crain's Chicago Business. Jack Grieve is a Crain’s reporter covering the news people...
Ken Griffin lists Gold Coast penthouse for $11M
Ken Griffin has listed a top-floor Gold Coast condominium for sale, the latest of the billionaire hedge fund founder’s Chicago condos to hit the market since he announced his personal and corporate moves to Florida in 2022. Subscribe and get unlimited access to Crain's Chicago Business. Rachel Herzog is...
BBDO Chicago office leader exits
Jeff Adkins, president and CEO of Chicago-based Energy BBDO is leaving the agency, ending a lengthy career at the Omnicom shop. His exit means there are now vacancies atop BBDO’s Chicago and New York offices. Subscribe and get unlimited access to Crain's Chicago Business. The scope of the damage...
Biden vows to return to campaign trail despite urgings to quit
President Joe Biden said he would resume campaigning next week, despite mounting criticism from Democratic allies who have begun viewing his exit from the race as an inevitability. Create your free account to continue reading. His exit comes as the public-private partnership is ramping up, adding new board members and...
State’s largest privately owned water utilities seek rate increase amid lawmaker scrutiny
The two largest privately owned water utilities in Illinois are seeking to raise rates for a combined 1.5 million customers around the state. Create your free account to continue reading. The union representing Peoples' on-the-ground workers blasted the move by the ICC. The $800 million Constellation Energy is spending on...
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