Steve Grzanich has the business news of the day with the Wintrust Business Minute.

Kraft Heinz is splitting into two companies a decade after they joined in a merger. One of the companies will include shelf stable meals and include brands such as Heinz, Philadelphia cream cheese and Kraft Mac & Cheese. The other will include brands such as Oscar Mayer, Kraft Singles and Lunchables. The names of the two companies will be released later. Kraft Heinz said in May that it was conducting a strategic review in part to help maximize the value of its brands. Separating the two areas could help generate new cash flow and enhance the top-performing products. The companies will keep headquarters in Chicago and Pittsburgh.

Also, American brands are on the outs among global consumers because of their perceptions about the country. Listen for more below:

Segment 1: Michael Miller, Economics Professor, Western Washington University and Professor Emeritus at DePaul University, joins John Williams to talk about GDP growth, if we should be skeptical of economic data revisions, core inflation rising, if he thinks the Fed should cut rates in September, the fate of Fed governor Lisa Cook, and the importance that the Federal Reserve remains independent

Segment 2: Chip Lupo, Writer and Analyst, WalletHub, tells John the results of a new Labor Day survey.

Segment 3: Joyce Porter, Founder, Oak Park IL Film Festival, tells John everything we need to know about this year’s film festival!

Segment 1: Jack Ablin, Chief Investment Officer and Founding Partner, Cresset Capital, gives John an in-depth look at the U.S. housing crisis. Jack also talks about the market still performing very well after Nvidia earnings.

Segment 2: Jason Hiner, Editor in Chief, ZDNET, joins John to talk about the latest iPhone falling behind other phones when it comes to AI features, what to know about Apple’s iPhone 17 launch event, and Oura deepening its relationship with the Department of Defense.

Segment 3: James Rodriguez, Senior Reporter, Business Insider, joins John Williams to talk about how some homebuyers who made a big bet on lower mortgage rates are now in a financial bind.

Segment 4: Stephanie Klett, President and CEO, Visit Lake Geneva, joins John Williams to talk about the beauty of Delavan Lake, the spectacular Frank Lloyd Wright homes that surround the lake, the eclectic dining scene in Delavan, the fantastic Lake Lawn Resort, and why taking a visit to the area is a perfect fall destination.

Nationally syndicated financial columnist and author Terry Savage joins John Williams to talk about why she believes the Fed will likely be cutting rates in September, what would happen if the Fed does cut rates, how interest rates actually work, and the benefits and pitfalls of AI. And as always, Terry answers all of your financial questions.

Steve Grzanich has the business news of the day with the Wintrust Business Minute.

Chicago favorites, Garrett’s Popcorn and Home Run Inn are blending flavors. A new Garrett’s popcorn is mixed with Home Run Inn’s ‘Everything But the Pizza seasoning’. They’re calling it Garrett’s Chicago Pizza Popcorn. The new flavor is available at several grocery stores and some retailers, but not at Garrett’s shops.

They previously teamed up for a similar Wrigley Field exclusive treat in 2024.

Also, Chicago home prices rose 6.1% year-over-year, according to the latest S&P Case Shiller Home Price Index. Listen for more below:

Faron Daugs, CFP, Founder and CEO, Harrison Wallace Financial Group, joins John to talk about the market not having much of a reaction to President Trump trying to fire Federal Reserve Board member Lisa Cook, the overall health of the economy, the impact of tariffs still being relatively unknown, consumer confidence coming in stronger than expected, and the likelihood the Fed cuts interest rates in September.

Steve Grzanich has the business news of the day with the Wintrust Business Minute.

A public-private initiative to attract businesses to Illinois has been renamed but its mission will remain the same. Intersect Illinois will now be called the Illinois Economic Development Corp. The initiative was launched 10 years ago as a way to partially privatize the state’s economic development activities. Its leaders say the rebranding is meant to make the organization’s identity simpler and to help it stand out. Its chairman says Illinois EDC’s mission remains the same, to make the state a premier destination for business and innovation.

Also, North Chicago-based AbbVie is buying a psychedelic drug from Gilgamesh Pharmaceuticals for $1.2 billion. Listen for more below:

Segment 1: Ilyce Glink, owner of Think Glink Media, joins John Williams to talk about if August is a good time to put a house on the market, current mortgage rates, why the government took a 10% stake in Intel, when the Fed is likely to cut interest rates, and how the market typically performs after the Fed cuts interest rates.

Segment 2: Jim Dallke, Director of Communications, TechNexus Venture Collaborative, tells John about how Chicago business schools launching AI courses, Tempus buying AI pathology company Paige, and United Airlines investing in supersonic firm Astro Mechanica.

Segment 3: Nick Papanicholas Jr., head of Nicholas & Associates, joins John to talk about their business, and how a hockey boom in the suburbs led the company to build large, indoor ice skating complexes throughout the Chicago area.

Segment 1: Craig Bolanos, Founder and Wealth Advisor at VestGen Wealth Partners, joins John to talk about today’s big market rally after Fed Chairman Jerome Powell suggested interest rate cuts would be coming soon, how many rate cuts he expects to see for the rest of 2025, and when we we’ll see the full impact of tariffs. Craig also explains why he’s bullish on the Bears this year!

Segment 2: Michael D’Hulst, CEO and Co-Founder of Supertri, tells John everything we need to know about this weekend’s 2025 Chicago Triathlon.

Segment 3: Vic Bianes, President of the American Public Works Association, give John a recap of the American Public Works Association’s Public Works Expo that came to McCormick Place earlier this week!

Steve Grzanich has the business news of the day with the Wintrust Business Minute.

Chicago’s Navy Pier has issued requests for concepts as it prepares to redevelop its east end. That portion of Navy Pier includes the Festival Hall meeting space, Lakeview Terrace with beer gardens and a grand ballroom. Those areas would be redeveloped and the request for concepts wants vibrant, impactful and welcoming ideas. The request for concepts is the first step before a formal request for proposals is made that’ll include specific bids.

Also, United Airlines is investing in a San Francisco startup that’s developing electrification technology for aircraft engines that could be used for supersonic travel. Listen for more below: