CVS to lay off 5,000 employees as it seeks to cut costs
The Rhode Island-based pharmacy giant said in a statement that it is eliminating "a number of non-customer facing positions" throughout the company
NASCAR Chicago Street Race rakes in millions
Chicago's inaugural NASCAR Street Race brought thousands of people to the city, filling up hotels and kick-starting a flourishing weekend for the area's economy.
US inflation believed to have slowed in June in sign of easing price pressures
Some economists believe if inflation keeps slowing and the economy shows signs of improvement, a July interest rate hike could be the Federal Reserve's last.
Recession expected by end of 2023: Fannie Mae
A recession is likely in 2023, Fannie Mae forecasted. And the Fed may continue to raise interest rates after its June pause, despite projections that inflation will continue to cool.
States weigh charging by the mile as fuel taxes plummet
States have relied on gas taxes for more than a century to maintain the nation's roads
Student loan repayments could slam big-name retailers this fall
Target and Nordstrom, especially, face a potential big hit when student loan payments resume this fall.
Debt ceiling deal includes new work requirements for SNAP: How they work
The bipartisan debt ceiling deal struck by President Joe Biden and House Speaker Kevin McCarthy would modify the work requirements for food stamps and welfare.
Debt ceiling: House OKs bill to avoid default, sends Biden-McCarthy deal to Senate
The House has approved the debt ceiling and budget cuts package, sending it to the Senate. President Joe Biden negotiated the deal with Speaker Kevin McCarthy to avert a U.S. default crisis.
Debt ceiling: Bill on its way to House floor after clearing key hurdle
Under fire from conservatives, House Speaker Kevin McCarthy is hunting for votes from fellow Republicans for the debt ceiling deal.
These billionaires are worth more than the US Treasury has in cash, report says
The cash balance at the U.S. Treasury is lower than the net worth of some of the world's richest people, according to the Bloomberg Billionaire Index.
Tight labor market has increased demand for teens in summer jobs
The proportion of Americans between the ages of 16 and 19 who have jobs has trended up in recent years.
Debt ceiling deal: Here's what's in, what's out of the bill to avert US default
Details of the deal between President Joe Biden and House Speaker Kevin McCarthy are out. But the two leaders still have to persuade Congress to pass the bill.
Biden, McCarthy reach final deal in debt ceiling talks, look to sell Congress
The Democratic president and Republican speaker spoke with each other Sunday evening as negotiators rushed to draft the bill text so lawmakers can review compromises that neither the hard-right or left flank is likely to support.
Source: Debt ceiling 'agreement in principle' has been reached
President Joe Biden and House Speaker Kevin McCarthy reached an “agreement in principle" late Saturday as they raced to strike a deal that to limit federal spending and resolve the looming debt crisis ahead of a June 5 deadline,
U.S. default could cause unemployment surge in Illinois
A prolonged default on America’s debt could result in the loss of nearly eight-million jobs, sending Illinois’ unemployment rate above nine percent, according to economists.
Debt ceiling: No agreement yet, but Biden, McCarthy say they're optimistic after meeting
President Joe Biden and House Speaker Kevin McCarthy say they and their lead negotiators have had a productive meeting at the White House on the impasse over the government's debt ceiling.
Debt ceiling: Biden 'confident' there will be no default
Negotiators are racing to beat a deadline of June 1, which is when the Treasury Dept. said the U.S. could begin defaulting on its debts for the first time in history and risk financial catastrophe.
Debt ceiling: Biden cuts short upcoming trip; McCarthy says deal possibly by end of week
The U.S. Treasury is warning that the U.S. could run out of cash to keep paying the nation’s bills as soon as June 1 if there is no agreement.
United planning to hire 15K workers ahead of expected summer travel surge
The hiring sign is out at United Airlines. The airline said Wednesday that it plans to add 15,000 workers this year, and hired 7,000 in just the past four months.
Lightfoot announces $54M in grants for small businesses, community organizations
Mayor Lori Lightfoot announced more economic development grants for Chicago on Tuesday.