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Business

Business news, from Chicago’s largest corporations to local small businesses, including consumer watchdog reports and updates from industries like technology and retail.

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New life for Chicago Harbor Lighthouse?

Renowned Chicago artist Theaster Gates — known for repurposing old buildings for community use — is one of the people considering breathing life back into the deteriorating building.

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Alden discloses 32% stake in Tribune Publishing

Hedge fund’s holdings go beyond its deal with Michael Ferro Jr.

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McDonald’s agrees to $26M settlement with California workers

The settlement requires periodic training for managers and crew members at corporate-owned restaurants.

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4 ex-Outcome Health executives accused of fraud

Feds say the former executives falsified the company’s financial performance to raise $1 billion in debt and equity.

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Charles Schwab buys TD Ameritrade in brokerage blockbuster

The tie-up creates a company so big that it may draw sharp scrutiny from antitrust regulators.

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How much is too much Chicago development?

Bad times or good, we live with the consequences of what gets built.

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More than 500,000 pounds of pork from Maywood meat packing company recalled

Various raw pork products were recalled because they "were produced without the benefit of federal inspection and outside inspection hours," according to the USDA.

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Avoid romaine lettuce grown in California, FDA says

The U.S. Food and Drug Administration is investigating an E. coli outbreak that has sickened 40 people in more than a dozen states. The lettuce was grown in Salinas, California.

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Operator of Summit bar that surfaced in corruption case was ‘close’ to Ed Burke operative

Mariano Martinez runs Mars Bar, faces heroin charges and goes way back with Rudy Acosta Sr., a precinct captain in the 14th Ward who’s done campaign work for state Sen. Martin Sandoval.

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County OKs limits on role of criminal history in housing decisions

The board voted 12-4 to approve the rules for the "Just Housing" ordinance, which is actually an amendment to the county’s housing ordinance.

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PepsiCo moving to the Old Post Office

Promising no job cuts, company is trading 17 floors for one.

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McDonald’s accused of allowing ‘epidemic of violence’ at its Chicago restaurants

A lawsuit was filed Thursday by 17 workers at 13 Chicago restaurants, including the showcase at McDonald’s corporate headquarters in the West Loop.

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Tribune stock sale leaves company vulnerable to hedge fund known for ‘cutting costs to the bone’

Buyer Alden Global Capital is known for deep job cuts.

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Housing protection advances for those with past convictions — prompting congratulations, concerns

The committee seal of approval could signal a conclusion to a months-long back and forth between property owners and housing advocates.

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Illinois could grow over 1 million pounds of legal pot by 2025, report says

Illinois’ legal cannabis supply stands to skyrocket by 1,300 percent after growing from 11,877 pounds in 2016 to 72,158 pounds this year, according to New Frontier Data.

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Activists urge aldermen to oppose Lightfoot budget because it keeps mental health clinics closed, gives wealthy corporations a pass

The mayor calls the budget fight an extension of both the last election and the teachers strike, as well as a prelude to her re-election campaign. United Working Families, she said, is "closely aligned with" the Chicago Teachers Union.

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U of C Medical Center closes trauma centers ahead of planned nurses strike

Unionized nurses have threatened to walk off the job from the South Side hospital just before Thanksgiving if the sides can’t agree on a new contract.

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Bridgeport’s Ramova Theatre in line for $22.9 million redevelopment

With city help, the project would convert the 90-year-old movie house into a live entertainment center.

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Michael Ferro sells Tribune Publishing stake, prompting fears of staffing cuts

Newsroom employees at the Chicago Tribune, now unionized under the NewsGuild’s Chicago local, took to Twitter and other social media outlets to express outrage at the sale to Alden.

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If Uber will guarantee that $50 million, Lightfoot might want to get on board

The ride hailing giant says it will guarantee its latest tax plan will generate $10 million more than Mayor Lori Lightfoot’s. Uber and other companies should have to make up the difference if the plan falls short, it says.

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U of C Medical Center plans patient transfers if nurses strike

Hospital says it may be unable to find enough temporary replacements.

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Bronzeville apartment project gets alderman’s support

Ald. Pat Dowell says the $27 million development could spur other investment.

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Lightfoot’s minimum wage compromise advances, to cheers from restaurant owners

The guaranteed hourly wage for tipped workers would rise from $6.40 to $8.40 next year. But some aldermen still want all employees, including tipped workers, to be paid the same minimum wage: $15 an hour.

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Chick-fil-A alters donation policy following LGBTQ protests

The restaurant chain said Monday its foundation will "deepen its giving to a smaller number of organizations" by focusing on education, homelessness and hunger.

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Kylie Jenner sells her stake in beauty empire to Coty

Coty said Monday that it will pay $600 million for a 51% stake in Kylie Cosmetics. It plans to launch more products under the Kylie brand and sell them in more countries around the world.

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Tech companies seeking ways to reach city’s under-served neighborhoods

A group of 15 Chicago tech companies plan to add 2,000 jobs through 2020.

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Desiree Rogers, Cheryl Mayberry McKissack on building a beauty empire: ‘A lot of people are rooting for us’

In an exclusive Chicago Sun-Times interview, the former Johnson Publishing Co. execs — who acquired the demised iconic firm’s Fashion Fair Cosmetics at auction less than two months after announcing a purchase of the global Black Opal line — talk about what they see on the horizon.

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Time and trends have been unkind to the Thompson Center

Its problems are many. Can we save it by adding a skyscraper?

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UAW approves new contract with Ford

The union voted Friday on a four-year contract.

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Pot lottery winners chosen — and downtown tops their choices for weed shops

Cresco Labs and PharmaCann were among the pot companies able to chose the most lucrative locations to sell cannabis when recreational pot becomes legal next year.

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Massive Starbucks Reserve Roastery like Willy Wonka’s fictional chocolate factory — but for adults

The 35,000-square-foot roastery on Michigan Avenue opened Friday.

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United delays planned return of grounded Boeing 737 Max

United said Friday that without the planes, it will cancel 56 flights a day in January, February and early March, down from 93 a day this month.