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Chicago Tribune Business News
Dec 14, 2017

Chicago's Rock 'n' Roll McDonald's to close for remodeling, ditch rock theme
The Rock ''n'' Roll McDonald''s in River North will close Dec. 30 for major remodeling and abandon its rock theme upon reopening, part of a companywide push to modernize all of its 14,000 U.S. restaurants by the end of 2020.

The McDonald''s at Clark and Ontario streets, a rock-themed tourist attraction,...



Chicago Tribune Business News
Dec 14, 2017

How to decide if bitcoin is safe for you to trade
Is Bitcoin a great investment opportunity or a risky bubble waiting to burst like 1637's Dutch tulip mania?

Bitcoin's run-up has grown famous. Late Thursday morning, the digital currency was trading for more than $19,000 on exchanges in South Korea, before closing around $16,600 on Bitfinex, a...



Chicago Tribune Business News
Dec 14, 2017

FCC repeals net neutrality rules, in a sweeping act of deregulation
Federal regulators voted Thursday to allow Internet providers to speed up service for some apps and websites - and block or slow down others - in a decision repealing landmark, Obama-era regulations for broadband companies such as AT&T and Verizon.

The move to deregulate the telecom and cable industry...



Chicago Tribune Business News
Dec 14, 2017

Today's net neutrality vote will change the Internet forever, and consumers will pay
The internet — as we know it — is likely to die Thursday at the hands of the Trump administration. What''s more, we''ll be expected to pay for the burial.

This is what''s called a 'lose-lose' situation.

In one of its most anti-consumer and anti-business decisions yet, the Republican-controlled Federal...



Chicago Tribune Business News
Dec 14, 2017

FCC is expected to repeal its net neutrality rules today, in a sweeping act of deregulation
Federal regulators are expected to vote Thursday morning to allow Internet providers to speed up service for some apps and websites - and block or slow down others - in a decision repealing landmark, Obama-era regulations for broadband companies such as AT&T and Verizon.

The move to deregulate...



Chicago Tribune Business News
Dec 14, 2017

Disney buys Fox entertainment assets in $52.4 billion deal that shakes up entertainment, media worlds
Disney is buying a large part of the Murdoch family's 21st Century Fox for about $52.4 billion in stock, including film and television studios and cable and international TV businesses, as it tries to meet competition from technology companies in the entertainment business.

The deal gives Disney...



Chicago Tribune Business News
Dec 14, 2017

Disney buys much of Rupert Murdoch's 21st Century Fox in $52.4 billion deal
Walt Disney Co. has finalized a $52.4-billion stock deal to buy much of Rupert Murdoch''s entertainment empire, a blockbuster union that would radically transform Hollywood into a land of fewer giants.

The deal, which Disney announced Thursday morning, represents Disney''s boldest acquisition yet....



Chicago Tribune Business News
Dec 13, 2017

With net neutrality decision imminent, Thursday could be the day the internet died
The internet — as we know it — is likely to die Thursday at the hands of the Trump administration. What''s more, we''ll be expected to pay for the burial.

This is what''s called a 'lose-lose' situation.

In one of its most anti-consumer and anti-business decisions yet, the Republican-controlled Federal...



Chicago Tribune Business News
Dec 13, 2017

Fed boosts benchmark rate for third time this year
The Federal Reserve is raising its benchmark interest rate for the third time this year, signaling its confidence that the U.S. economy remains on solid footing 8½ years after the end of the Great Recession.

The Fed is lifting its short-term rate by a modest quarter-point to a still-low range of...



Chicago Tribune Business News
Dec 13, 2017

Plan for 80-story tower, two others in Lakeshore East hits roadblock
An ambitious plan for three residential high-rises near Lake Michigan, including one that would soar 80 stories, has been shot down by the city''s downtown alderman.

Chicago-based Magellan Development Group and its development partner, Australia''s Lendlease, now must make significant changes to...



Chicago Tribune Business News
Dec 13, 2017

Allstate spinoff Arity uses cellphone data to be high-tech backseat driver
In the auto insurance world, Gary Hallgren is Big Brother, watching more than a million drivers every day to determine who is likeliest to have an accident.

Hallgren is president of Chicago-based Arity, a year-old Allstate tech startup that uses smartphone apps and add-on devices to track every...



Chicago Tribune Business News
Dec 12, 2017

Deal of the day: $500 million-plus sale of Groupon HQ
Groupon''s sprawling headquarters along the Chicago River is close to getting a new owner, in a $500 million-plus deal that would be one of the biggest office sales in Chicago this year.

Chicago developer Sterling Bay is working to complete the purchase of the building at 600 W. Chicago Ave., according...



Chicago Tribune Business News
Dec 12, 2017

30,000-square-foot rooftop restaurant and bar will crown new Navy Pier hotel
Visitors who play at Navy Pier soon will be able to stay there as well, with a new seven-story hotel set to rise on the eastern end of the familiar landmark over the next 18 months.

Developers unveiled plans this week for the upscale, 222-room Curio Collection by Hilton hotel adjacent to Festival...



Chicago Tribune Business News
Dec 12, 2017

CPS, City Colleges expand coding programs with help from Apple
Starting this spring, more Chicago Public Schools students will have a new language to learn: the one spoken by iPhone apps and Apple''s iOS operating system.

The tech giant is teaming up with the city to get its coding curriculum into more CPS classrooms and into the City Colleges of Chicago, and...



Chicago Tribune Business News
Dec 12, 2017

Why Boeing can make a brash prediction about beating Elon Musk to Mars
It''s a corporate suit versus a high-tech visionary and the winner gets a trip to Mars.

Boeing Co. CEO Dennis Muilenburg recently squabbled online with Tesla co-founder and space travel entrepreneur Elon Musk about whose company will be the first to plant a flag on the red planet.

While one of the...



Chicago Tribune Business News
Dec 11, 2017

Meet Chicagoans jumping into the world of bitcoin
In January, Mike Haynes'' salary was cut in half as the tech startup he worked for restructured. By spring, he had burned through most of his savings. Now he''s one of the many speculators chasing their fortunes though bitcoin investing.



The CBOE Futures Exchange became the first traditional exchange...



Chicago Tribune Business News
Dec 11, 2017

Meet the Chicagoans jumping into the world of bitcoin
In January, Mike Haynes'' salary was cut in half as the tech startup he worked for restructured. By spring, he had burned through most of his savings. Now he''s one of the many speculators chasing their fortunes though bitcoin investing.



The CBOE Futures Exchange became the first traditional exchange...



Chicago Tribune Business News
Dec 11, 2017

Chicagoans are jumping into the world of bitcoin: 'Everyone thinks I'm crazy'
In January, Mike Haynes'' salary was cut in half as the tech startup he worked for restructured. By spring, he had burned through most of his savings. Now he''s one of the many speculators chasing their fortunes though bitcoin investing.

The CBOE Futures Exchange became the first traditional exchange...



Chicago Tribune Business News
Dec 11, 2017

Bitcoin futures soar amid frenzy over virtual currency
Bitcoin's debut on a major U.S. exchange is a hit so far, with the price of the first-ever futures contract for the virtual currency rising 16 percent.

The futures contract that expires in January was up $2,440 to $17,900 Monday afternoon on the Chicago Board Options Exchange. Trading began Sunday,...



Chicago Tribune Business News
Dec 11, 2017

Time Out to open one of Chicago's biggest food halls in Fulton Market district in 2019
The publisher of Time Out entertainment magazines confirmed plans to open one of the largest food halls in Chicago in 2019, in the Fulton Market district that''s already a destination for foodies.

Time Out Market Chicago is planned for a three-level, nearly 50,000-square-foot building to be constructed...



Chicago Tribune Business News
Dec 11, 2017

Tech support scams hitting more computer users online
For consumers who turn over control of their computers to remote technicians online, the fix may already be in.

A growing number of remote tech support scams are popping up, in which users facing 'crashed' computers give online access for repairs that do nothing more than drain their wallets, according...



Chicago Tribune Business News
Dec 11, 2017

Bitcoin futures rise as virtual currency hits Chicago Board Options Exchange
The first-ever bitcoin future jumped after it began trading Sunday as the increasingly popular virtual currency made its debut on a major U.S. exchange.

The futures contract that expires in January surged more than $3,000 to $18,580 eight hours after trading launched on the Chicago Board Options...



Chicago Tribune Business News
Dec 08, 2017

Nobu Hotel in Fulton Market selling before it's built
Chicago''s Nobu Hotel is still in the early stages of construction on West Randolph Street, but the Robert De Niro-backed hotel and restaurant is already getting a new landlord.

Mexico''s RCD Resorts has struck an almost $20 million deal to buy and take over the Fulton Market district development...



Chicago Tribune Business News
Dec 08, 2017

Christmas tree growers battle against popularity of plastic
Millennials have earned a reputation for loving consumer products that are local and artisanal. So why are they buying so many plastic Christmas trees?

That's the question irking Tim O'Connor, the executive director of the Christmas Tree Promotion Board in Littleton, Colorado. To help capture more...



Chicago Tribune Business News
Dec 08, 2017

'Crisis mode': As boomers age, a shortage of caregivers
As more and more baby boomers cross the threshold into old age, members of the Me Generation are confronting a new and growing problem: Who will take care of them when they can no longer care for themselves?

It''s a situation few families are prepared for but one many will face. As relatives gather...



Chicago Tribune Business News
Dec 08, 2017

More companies find spending on corporate responsibility increases the bottom line
Kraft Heinz, a company known for its rigorous cost-cutting, now wants to improve animal welfare, help end the destruction of rainforests and fight world hunger.

Though cynics may roll their eyes, consider this: Growing a better world — as Kraft Heinz puts it — is also good for business. Increasingly,...



Chicago Tribune Business News
Dec 07, 2017

O'Hare restaurant workers vote to strike, but timing of a walkout is unclear
Workers at O''Hare International Airport''s restaurants, bars and coffee shops voted Thursday to strike in an effort to secure higher wages and more affordable health insurance, but union officials wouldn''t say when such a strike would actually occur.

The vote was 84 percent in favor of the strike,...



Chicago Tribune Business News
Dec 07, 2017

WTTW plans to buy rival public TV station WYCC's broadcast license
The owner of WTTW-Ch. 11 said Thursday that it is seeking to buy now-dark rival WYCC-Ch. 20 from City Colleges of Chicago in a move that would put both Chicago public TV stations under one corporate umbrella.

Under the terms of the deal, which requires approval from the Federal Communications Commission,...



Chicago Tribune Business News
Dec 07, 2017

Sinai Health System announces data breach but says risk to patients low
At least two employees at Sinai Health System had their email accounts compromised in a phishing incident, potentially affecting the information of 11,350 people.

The seven-member hospital system said in a statement Thursday that it cannot confirm whether any patient information in the email accounts...



Chicago Tribune Business News
Dec 07, 2017

Illinois Insurance Department head navigates Obamacare changes
Jennifer Hammer''s first year as director of the state''s Department of Insurance hasn''t been an easy one.

Hammer, who was appointed by Gov. Bruce Rauner and confirmed in February, has overseen the department during a time of tumult and uncertainty over the Affordable Care Act, also known as Obamacare.

...

Chicago Tribune Business News
Dec 07, 2017

Plan for 51-story Wacker Drive tower hits obstacle
A planned 51-story tower on Wacker Drive has run into an unexpected obstacle that could halt the high-profile office development: the U.S. Army Corps of Engineers.

The federal agency has informed the developers, Chicago''s Riverside Investment & Development and Dallas-based Howard Hughes Corp.,...



Chicago Tribune Business News
Dec 07, 2017

Bill offers potential path for accusers silenced by their employers
New legislation proposed Wednesday would prevent companies from keeping sexual harassment complaints from employees in private arbitration, where accusations are kept confidential and companies can influence who adjudicates the case.

The bipartisan bill would allow victims of sexual harassment...



Chicago Tribune Business News
Dec 07, 2017

Hackers steal $70 million worth of bitcoin as price crosses $17,000
Bitcoin surged past $17,000 Thursday as the frenzy surrounding the virtual currency escalated just days before it starts trading on major U.S. exchanges. Bitcoin has gained more than $5,000 in just the past two days.

At the same time, there are fresh concerns about the security of bitcoin and other...



Chicago Tribune Business News
Dec 07, 2017

Hackers steal $70 million worth of bitcoin as price marches upward
Bitcoin surged past $17,000 Thursday — and briefly hit $19,000 — as the frenzy surrounding the virtual currency escalated just days before it starts trading on major U.S. exchanges. Bitcoin has gained more than $5,000 in just the past two days.

At the same time, there are fresh concerns about the...



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