Illinois Economy

Business and economic news

Men make more from their side hustles

Jun 26, 2018

A new survey from Bankrate.com finds nearly four in ten Americans have a side hustle. It’s a thing for millennials ... and lots of other people too. Most do it to pad their income but nearly 40 percent take on extra work to make ends meet.

Click the audio player above to hear the full story. 

Home prices in California keep on rising. According to the California Association of Realtors, the median price of a single-family home in the state is now more than $600,000. Nationally, that number is closer to $260,000.

Put another way, you could buy two “average” non-California houses for the price of one California house. Can’t decide between the Cape Cod or the mid-century Craftsmen? Move to the Midwest and buy both.

Brexit creates problem on Northern Irish border

Jun 26, 2018

The convoluted path toward Brexit takes another turn this week when European Union leaders gather in Brussels to assess how much progress Britain has made in negotiating its departure from the bloc. 

Their verdict is likely to be: not much. One of the key sticking points is the future of the border on the island of Ireland between the British province of Northern Ireland and the Irish Republic in the south.

After Brexit, this will be the only land border between the United Kingdom and the rest of the EU.

We’re in the last week of June, which is also the last week of the second quarter. Government economists will be crunching the numbers on Gross Domestic Product: the sum of all goods and services produced in the economy. Annualized GDP growth was 2.2 percent in the first quarter of 2018. So what’s in store going forward?

Click the above audio player to hear the full story.

America First has casualties

Jun 26, 2018

(U.S. Edition) Major market indices closed down yesterday under the president's trade rhetoric, but the economy, generally, is in pretty good shape right now. We'll check in with experts about whether they're still optimistic about the economy's expansion.

Where should you go if you "ditch the dollar?"

Jun 26, 2018

(Global Edition) From the BBC World Service … Jitters over the U.S.-induced global trade war and worries over a looming slowdown in American growth is continuing to hit global stock markets, but now one investor says it may be time to ditch the dollar and head for alternative currency safe havens. Then, we take a look at what countries top a new list of cities with high cost-of-living prices.

No one knows how a military Space Force would work, exactly

Jun 26, 2018

President Donald Trump has directed the Pentagon to create a sixth branch of the military called the Space Force. It was proposed last year as part of the budget for the Department of Defense. The Air Force has lobbied against a Space Force, and Congress hasn't authorized it.

President Donald Trump has directed the Pentagon to create a sixth branch of the military called the Space Force.

The Trump administration is expected to announce new restrictions on Chinese investment in U.S. technology companies later this week. The specifics are unclear. Treasury Secretary Steven Mnuchin took to Twitter today to contradict reports that companies with at least 25 percent Chinese ownership will be barred from buying U.S. companies with "industrially significant technology." The secretary called reports in the Wall Street Journal, Bloomberg and elsewhere "fake news," saying restrictions will apply to "all countries that are trying to steal our technology."

Unions brace for Supreme Court Janus decision

Jun 25, 2018

Supporters and opponents of organized labor are on tenterhooks this week awaiting a landmark Supreme Court decision in Janus v. AFSCME.

Tough day for HOG

Jun 25, 2018

Harley-Davidson did something pretty remarkable today. The motorcycle company, whose executives President Donald Trump invited to the White House less than a month into his term, said it's planning to manufacture a chunk of its bikes somewhere else rather than pass along cost increases coming from the president's tariffs. We'll start today with ticker symbol HOG and look at the broader fallout. Then, we'll look at the challenges facing the modern union: Supreme Court battles, low membership and new technology that’s threatening job security in new fields every day.

Why we're still talking about Sumner Redstone

Jun 25, 2018

At 95 years old, Sumner Redstone technically remains the controlling shareholder of both Viacom and CBS Corporation. That raises questions about what happens to those companies when Redstone passes away. 

(Markets Edition) With tensions between China and the U.S. escalating, the markets have opened down this morning. We'll hear from Julia Coronado, founder of MacroPolicy Perspectives, about how the fight isn't just about tariffs now: Trump wants to curb Chinese investment in U.S. tech firms. Afterwards, we'll look at the type of gasoline that companies sell to drivers during the summer (a product that uses a mix of different ingredients and is more expensive to produce), and then we'll talk about how contractors are starting to invest in cultural sensitivity training.

The gasoline you’re putting in your car now is different than the gasoline you bought a few months ago. The gas that’s fueling your summer vacation is the “summer blend,” which uses a different mix of ingredients and it’s more expensive to produce.

Click the audio player above to hear the full story. 

Where does Starbucks go from here?

Jun 25, 2018

(U.S. Edition) Turkey's president, Recep Tayyip Erdoğan, has beat expectations to win Sunday's elections. In the aftermath, we'll look at the state of the country's economy and what prompted voters to elect him. Afterwards, we'll look at the legacy that Starbucks CEO Howard Schultz leaves behind as he steps down from the position, and some of the challenges his successor will need to tackle. Plus: With the FDA set to approve an epilepsy medication made from an ingredient found in cannabis, we'll explore whether this will give big drugmakers a reason to take a closer look at the drug.

(Global Edition) From the BBC World Service … It’s an apparent victory for Turkey’s president after voters cast ballots in an early election Sunday. But as the country’s leader looks to consolidate power – what will it mean for the economy, which is already suffering from high inflation and a depreciating currency? Then, a British court this week will weigh whether Uber is “fit and proper” to hold an operator license in the capital city after Transport for London refused to renew it last September.

VidCon has been around since 2010 and if you haven’t heard of it, ask a teenager. The conference for online video creators and their fans was held this month in Anaheim, California. It’s the first major event since Viacom bought the conference last year. That purchase made the “creator economy” officially mainstream. And with that status comes a more Hollywood-style vibe. TV execs, talent scouts and advertisers were all over the show. And there's a big conversation about how creators can move past the biggest game in town —YouTube.

VidCon CEO: Online video is about more than just YouTube

Jun 25, 2018

VidCon has been around since 2010, and if you haven’t heard of it, ask a teenager. The conference for online video creators and their fans was held this month in Anaheim, California. It’s the first major event since Viacom bought the conference last year. That purchase made the “creator economy” officially mainstream. And with that status comes a more Hollywood-style vibe. TV execs, talent scouts and advertisers were all over the show. And there's a big conversation about how creators can move past the biggest game in town — YouTube.

Finding community at a rehabilitation hospital

Jun 22, 2018

This story is a part of our special on the economics of disability. Listen to the podcast here and read this glossary of terms we used in our coverage throughout the show.

AMC makes a foray into subscription service

Jun 22, 2018

AMC, the nation’s largest movie theater chain, is dipping its toe into the subscription service pond. The company announced this week that it’s kicking off the summer movie season with AMC Stubs A-List. For about $20 a month, people will be able to see three movies a week at the theater. The service is double the cost of competitor MoviePass, with less film offerings. So will one more subscription service change how movie theaters and studios make their money at the box office?

Click the audio player above to hear the full story. 

This weekend marks two years since Britain held its referendum on exiting the European Union and voters told their leaders they want to leave the bloc. Since then, the British government has been negotiating the conditions of Brexit on issues such as the single market, customs union and movement of labor. The scheduled exit date, March 29, 2019 — is now less than a year away, and there are signs businesses are starting to get serious cold feet about what might come.

Your new tariff questions, answered

Jun 22, 2018

President Donald Trump drastically escalated trade tensions between the United States and China this week. On Monday, he threatened China with tariffs for $200 billion worth of Chinese goods. The news came after imposing a 25 percent tax on imports of $50 billion last week. China, along with Europe and Canada, has announced taxes on American products in retaliation. As a trade war continues looms, Marketplace host Kai Ryssdal asked listeners for their questions on Twitter and tracked down some answers.

Inside the world of adaptive rowing

Jun 22, 2018

This story is a part of our special on the economics of disability. Listen to the podcast here and read this glossary of terms we used in our coverage throughout the show.

What it's like to have an invisible disability at work

Jun 22, 2018

This story is a part of our special on the economics of disability. Listen to the podcast here and read this glossary of terms we used in our coverage throughout the show.

When suing your school kicks off a life of advocacy

Jun 22, 2018

This story is a part of our special on the economics of disability. Listen to the podcast here and read this glossary of terms we used in our coverage throughout the show.

This story is a part of our special on the economics of disability. Listen to the podcast here and read this glossary of terms we used in our coverage throughout the show.

This story is a part of our special on the economics of disability. Listen to the podcast here and read this glossary of terms we used in our coverage throughout the show.

5 things you need to know about the Americans with Disabilities Act

Jun 22, 2018

This story is a part of our special on the economics of disability. Listen to the podcast here and read this glossary of terms we used in our coverage throughout the show.

More of your trade questions, answered

Jun 22, 2018

Amid all the chaos and controversy at the southwest border, there's still a trade war brewing on multiple fronts. Today on the show, we'll tackle more of your questions about all things tariffs and trade. Then: Street vending in Los Angeles is a half-billion-dollar industry that’s illegal. We'll look at the tangled relationship between street vendors and the law. But first, AMC's challenger to MoviePass, the latest on Mexico's elections and, of course, the Weekly Wrap.

On a recent afternoon in Los Angeles’ wholesale district, Ashley Roberts is crouched beside a sidewalk display of clothes, DVDs and phone accessories. What she’s doing is illegal, but Roberts said getting a good spot determines whether she’ll make enough money to eat today.

“It all depends what area you set up at, whether the cops are going to bug with you,” Roberts said.

Roberts has already received two citations in the few months she’s been street vending. She’s also regularly negotiating with businesses, like the sunglass wholesaler she sells in front of.

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