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Illinois

Heat wave could slow drought improvement

BLOOMINGTON (FarmWeekNow) -- Soil moisture levels and crop conditions improved significantly the past six weeks. But that pattern could shift as hot and dry conditions are projected to envelope much of the Corn Belt, including Illinois, for at least the next week. High temperatures could fire up well into the 90s with heat index readings into the triple-digits, based on the forecast as of press time. If realized, the hot and dry weather will slow drought improvement, according to Trent […]

August 18, 2023 491

Business News

LLCU completes purchase of Colchester State Bank

DECATUR -- Another bank in Central Illinois is now part of the Land of Lincoln Credit Union (LLCU) family. LLCU announced Friday its completion of the purchase and assumption transaction with Colchester State Bank in McDonough County. Through this transaction, LLCU has acquired all assets and liabilities of Colchester State Bank. The completion of this acquisition now results in LLCU's footprint expanding to a total of 14 branches. The initial deal was brokered and signed in December 2022. "We look […]

July 23, 2023 45

Business News

Federal Reserve starts new instant payment system

WASHINGTON (UPI) -- The Federal Reserve said Thursday that its new system for instant payments to financial institutions has gone live. The Fed said that banks and credit unions can start signing up for the system, called the FedNow Service, which will allow for instant money transfers for customers at any time of the day. "The Federal Reserve built the FedNow Service to help make everyday payments over the coming years faster and more convenient," Federal Reserve Chair Jerome Powell said in a statement. "Over time, […]

July 20, 2023 391

Business & Lifestyle

Illinois hotels report record revenues for FY23

CHICAGO (Capitol News Illinois) – For hoteliers, business is booming in Illinois. On Monday, Gov. JB Pritzker, the state’s legislative leadership and representatives of the hospitality industry announced that hotels in Illinois saw record revenues in fiscal year 2023, which ended June 30. Across the state, hotels brought in $307.8 million, according to figures from the state’s Department of Revenue. That beats fiscal year 2019, the previous record year for hotel income and the last year before the pandemic upended […]

July 11, 2023 48

Business News

AI is more helpful than a hindrance

Artificial intelligence, or AI, is the most divisive topic in this half of 2023. But far removed from the doom and gloom scenarios, AI is helping both businesses and their employees achieve larger goals. From helping inexperienced staff to human resources issues, the applications are far and wide. If, as an employer, you aren’t convinced, here are a few examples for your consideration. Reducing workplace risk There is risk in almost any sector. And the volume directly dictates how much […]

July 8, 2023 40

Business & Lifestyle

Gas prices wobble, but not falling

WASHINGTON, D.C. — Gas prices at the pump barely budged over the past week, despite the expected demand surge due to the Independence Day holiday. AAA predicted that more than 43 million people would hit the road to celebrate the nation’s birthday. Despite the record number, the national average for a gallon of gas drifted two cents lower since last week to $3.52. “Gas prices may rise over the next few days based on slightly higher demand,” said Andrew Gross, AAA […]

July 6, 2023 52

Business & Lifestyle

Stocks rise after strong first half of 2023

NEW YORK (UPI) -- The U.S. stock markets closed early Monday in observance of the Fourth of July holiday with the Dow, S&P 500, and NASDAQ all rising. Monday marked the start of the second half of 2023 and added to a strong first half for the markets. The Dow Jones Industrial Average rose 10.87 points, or 0.032%, to close at 34,418.47. The S&P 500 was up 5.21 points, or 0.12%, closing at 4,455.59, and the NASDAQ Composite jumped 28.85 points, […]

July 3, 2023 51

Business & Lifestyle

Microsoft, Activision Blizzard deal on hold

SAN FRANCISCO -- A $69 billion deal by Microsoft to acquire Activision Blizzard is on hold...for now. According to MarketWatch, U.S. District Judge Edward Davila issued a temporary restraining order (TRO) in San Francisco over regulatory reasons. The approved request, which came from the Federal Trade Commission (FTC), was a "maintain the status quo" decision. An evidentiary hearing will be heard next week to determine whether there will be a preliminary injunction approval. With FTC approval, the deal would have […]

June 13, 2023 35

Columnists

KNAPP: Bank collapses: Yes, it’s a taxpayer bailout

U.S. president Joe Biden “stresses that Silicon Valley Bank is not getting a bailout,” The Hill reported on March 13. “[N]o losses will be borne by the taxpayers,” he said of the federal government’s decision to cover depositor losses in excess of $250,000. “Instead, the money will come from the fees that banks pay into the Deposit Insurance Fund.” But Biden’s explanation doesn’t support Biden’s claim. The bank’s customers — and, by extension, the bank itself — are definitely getting a […]

March 20, 2023 46

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financial news

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