Chicago is stepping up to be a trading hub for crypto
By Jinman Li Medill Reports Chicago is becoming a honeypot for cryptocurrency and will attract more and more crypto companies in the future, panelists said Tuesday at a luncheon panel hosted by the Executives’ Club of Chicago. The birth of stock futures trading in the last century in Chicago demonstrated the city’s innovative spirit, said […]
Relation between money and happiness contingent on an individual’s situation
By Jinman Li Medill Reports Whether money can buy happiness varies among individuals, contingent on their backgrounds and situations and how much money the person earns. A 2017 study from Purdue University using data from the Gallup World Poll, which surveyed more than 1.7 million people from 164 countries, found that earning between $60,000 and […]
Mixed outlooks are revealed for Northern Trust’s future stock performance
By Jinman li Medill Reports Analysts and shareholders have mixed outlooks for Northern Trust Corp.’s stock price in the next 12 to 24 months, with changes in interest rate and the potential to expand just some of the challenges the financial services company faces. Although just one of the 21 analysts polled by Bloomberg has […]
M1 Finance users double after firm ends trading fees
By Jinman Li Medill Reports Can a securities brokerage make money without charging transaction fees? M1 Finance LLC, a Chicago start-up, removed fees for its customers’ trades in December 2017, and has witnessed its number of users more than double to 25,000 since then. The company’s assets under management now total $100 million. Brokerage firms […]
Debates continue on the Obama Presidential Center’s impact on Woodlawn’s economic future
By Jinman Li Medill Reports What’s not to like about the proposed Obama Presidential Center? It’s a 19-acre complex of museum, library, plaza and athletic center, which was announced in May 2015 to be built in Chicago, the winner over several competing cities. The former president and first lady Michelle Obama selected the historic Jackson […]
Chicago’s only black-owned credit union soldiers on
By Jinman Li Medill Reports While black-owned banks disappear, another black-owned financial institution perseveres. South Side Community Federal Credit Union, or SSCFCU, at 5401 S. Wentworth Ave., is the only black-owned community credit union in Chicago. The not-for-profit financial institution is chartered and insured by the National Credit Union Administration (NCUA), an agency of the […]
Chinese investment flows into Japanese housing despite tightening policies
By Jinman Li Medill Reports Tokyo–A Chinese celebrity venture capitalist, Manzi Xue, who has more than 11 million followers on Weibo, a Chinese social media resembling Twitter, announced in January that he had bought all 11 machiyas on a street of Kyoto to develop a rental lodging business. Machiyas are traditional wooden townhouses popular with […]
Women-only Capsule Hotels sprout in Tokyo
By Jinman Li Medill Reports Tokyo–Capsule hotels, a simple form of lodging that originated in Japan in the 1970s, finds itself in a wave of increasing female focus. A capsule hotel reduces lodgers’ needs to the bare necessities of a tiny individual pod with a bed, lights, Wi-Fi coverage, and sometimes a TV. A typical […]
Kellogg earnings exceed estimate, stock rises
By Jinman Li Medill Reports Kellogg Co.’s (NYSE: K) fourth-quarter earnings topped Wall Street’s estimate, thanks to the acquisitions of protein bar maker RXBAR and Brazilian food seller Parati, as well as to favorable currency translation. The Battle Creek, Mich.-based cereal company swung to a profit of $428 million, or $1.23 per diluted share, in […]
U.S. manufacturing expanded at rate close to peak
By Jinman Li Medill Reports The U.S. manufacturing sector continued to show strong momentum in January, beating the market consensus. The Institute of Supply Management reported Tuesday that its January purchasing managers index, or PMI, a composite indicator of the manufacturing sector, slipped 0.2 percentage point to 59.1 from a December reading of 59.3. A […]
