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  • MB Financial completes Taylor Capital purchase, merges banks Aug 19, 2014 11:56 AM
    MB Financial Inc. completed its acquisition of Taylor Capital Group Inc., the holding company for Cole Taylor Bank, as is it expands operations in Chicago. MB Financial merged Cole Taylor into MB Financial Bank, the Chicago-based buyer said today in a statement.

     
  • U.S. stocks gain; Dollar General jumps after bid Aug 18, 2014 4:36 PM
    Corporate deal news gave the US stock market a lift on Monday as a bidding contest erupted for a discount retailer. Stocks also climbed amid reports of diplomatic efforts to broker a cease-fire in the conflict in Ukraine.

     
  • Pan American acquires Bank of Palatine Aug 12, 2014 3:16 PM
    Pan American Bank, based in Melrose Park, said Wednesday it has acquired Bank of Palatine.

     
  • Pew: Split views on robots’ employment benefits Aug 10, 2014 7:36 AM
    A new survey released Wednesday by the Pew Research Center’s Internet Project and Elon University’s Imagining the Internet Center found that, when asked about the impact of artificial intelligence on jobs, nearly 1,900 experts and other respondents were divided over what to expect 11 years from now.

     
  • 5 tips for sensible back-to-school spending Aug 10, 2014 7:31 AM
    The average family with kids in kindergarten through 12th grade will spend $669.28 on clothes, electronics and other school-related needs this back-to-school season, according to a survey by the National Retail Federation. That amounts to a 5 percent increase from last year. To help gin up sales, many stores roll out discounts and some states even get in on the act, offering sales tax holidays for clothing, backpacks, even computers.

     
  • 4 questions, answers on changes coming to FICO scores Aug 10, 2014 7:30 AM
    There are changes coming to FICO, a broadly used credit score, that may mean higher credit scores for many consumers. Banks, credit card issuers, auto lenders and other businesses use those scores to decide whether to lend to consumers and how much interest to charge them. A higher score could get you better terms on loans for cars and homes.

     
  • Illinois banks grapple with concealed carry law Aug 8, 2014 6:05 PM
    Unlike schools, hospitals, government buildings and buses, where concealed weapons are still prohibited, the law does not prohibit guns in banks, leaving it up to the institutions themselves to decide.

     
  • Oil boom and housing bust alter U.S. spending trends Aug 7, 2014 4:15 PM
    North Dakotans, enriched by an oil boom, stepped up their spending at triple the national pace in the three years that followed the Great Recession. In Nevada, smacked hard by the housing bust, consumers barely increased their spending. Americans spend the most, per person, on housing in Washington, D.C., and the least in West Virginia.

     
  • Yellen ‘dashboard’ signals: Job market not at full health Aug 3, 2014 5:25 PM
    Despite a step-up in job gains this year, most Americans have received little or no meaningful pay raise. Average hourly earnings ticked up a penny in July, the government said Friday, and are just 2 percent higher than a year ago — less than the rate of inflation. Hourly pay typically rises 3 percent to 4 percent in a healthy economy, Yellen noted in March.

     
  • How to fit a wind farm into your portfolio Aug 2, 2014 7:43 AM
    You can now fit a wind or solar farm into your portfolio, even if your portfolio isn’t exactly vast. Energy companies are wrapping renewable energy projects and other power-related assets that generate steady cash into new companies they hope attract investors hunting for dividends.

     
  • Study: 35 percent in U.S. facing debt collectors Jul 29, 2014 4:38 PM
    More than 35 percent of Americans have debts and unpaid bills that have been reported to collection agencies, according to a study released Tuesday by the Urban Institute. “Roughly, every third person you pass on the street is going to have debt in collections,” Caroline Ratcliffe, a senior fellow at the Washington-based think tank, said. “It can tip employers’ hiring decisions, or whether or not you get that apartment.”

     
  • Obama tax changes reduced income gap Jul 27, 2014 7:39 AM
    If you’ve wondered whether Obama has made any headway at reducing income inequality, here’s evidence that he has. Based on tax policy alone, he has slightly increased the income of the poor and more significantly reduced the income of the rich. That’s according to a new, exclusive analysis by the nonpartisan Tax Policy Center that compared today’s income distribution with what it would look like if President George W. Bush’s tax policies were still in place.

     
  • States with higher minimum wages gain more jobs Jul 19, 2014 4:01 PM
    Nine of the 13 states increased their minimum wages automatically in line with inflation: Arizona, Colorado, Florida, Missouri, Montana, Ohio, Oregon, Vermont and Washington. Four more states — Connecticut, New Jersey, New York and Rhode Island — approved legislation mandating the increases.

     
  • IRS says hard drive that lost emails destroyed Jul 18, 2014 4:59 PM
    The IRS said Friday that Lois Lerner’s computer hard drive was destroyed three years ago, ending any chance of retrieving her lost emails.

     
  • Ex-chief of huge pension guilty of taking bribes Jul 11, 2014 4:38 PM
    Federico Buenrostro Jr., the former chief executive of CalPERS, entered his plea in San Francisco federal court, and acknowledged receiving paper bags and a shoe box stuffed with $200,000 in cash along with casino chips and other benefits from Alfred Villalobos, a Lake Tahoe, California, investment manager who also served on the CalPERS board in the mid-90s.

     
  • Budget gap shrinks to narrowest since 2008 Jul 11, 2014 1:41 PM
    The $365.9 billion shortfall from October through June compared with a $509.8 billion gap in the same period a year earlier, the Treasury Department said in a report today in Washington. Last month, the government posted a $70.5 billion surplus compared with a $116.5 billion excess a year earlier, the report also showed.

     
  • First Midwest acquires Great Lakes Bank Jul 8, 2014 9:08 AM
    First Midwest Bancorp, the parent company of First Midwest Bank, said it would acquire Great Lakes Financial Resources, the holding company for Great Lakes Bank, in a stock and cash transaction valued at around $58 million.

     
  • Yes you can: 5 tips to beef up your savings Jul 6, 2014 6:37 AM
    Just over one in four Americans don’t have any emergency savings. “People are woefully under-saved for both emergencies and retirement,” said Greg McBride, senior financial analyst at Bankrate.com. “You can raise your income or you can cut your expenses, but either way, emergency savings doesn’t happen without discipline.” Here are five steps to help boost your savings.

     
  • 5 reasons U.S. economy outpacing rest of world Jul 5, 2014 2:48 PM
    Five full years after a devastating recession officially ended, the economy is finally showing the vigor that Americans have long awaited.

     
  • Billionaire Richard Mellon Scaife dies at 82 Jul 4, 2014 5:41 PM
    Richard Mellon Scaife died early Friday at his home, his newspaper, the Pittsburgh Tribune-Review, reported. Scaife’s death comes less than two months after he announced in a first-person, front-page story in his Pittsburgh Tribune-Review that he had an untreatable form of cancer.

     
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