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

Chicago-based snack maker Mondelez International has been fined $366 million by the European Union for anti-competitive behavior involving cross-border sales of chocolate, cookies and coffee. Mondelez makes Oreo and Chips Ahoy cookies, Wheat Thins, Ritz Crackers, Triscuits and Toblerone. It was accused of restricting sales of its products among EU member states. A watchdog said the company’s actions harmed consumers, who ended up paying more for products. The price differences of some products varied between 10% and 40% across markets.

Also, home prices in the Chicago area have hit another new record high. Listen for more below:

Nationally syndicated financial columnist and author Terry Savage joins John to talk about why people think we are in a recession despite the economy being strong, and the Biden administration canceling more student loan debt. And as always, Terry answers all of your financial questions.

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

As Ascension health system deals with an ongoing cyberattack, Lurie Children’s Hospital in Chicago says it’s no longer addressing its own cybersecurity matter. The hospital posted a message on its website saying it has reactivated patient communication platforms, four months after the attack. The hospital’s MyChart service is still missing some information but available services include online scheduling, provider messaging, medication refill requests and bill pay. An investigation into the cyberattack is ongoing and involves the FBI.

Also, a Chicago advertising agency is laying off 9% of its staff after losing a big account. Listen for more below:

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

Chicago-based software company Sprout Social is apparently not going private. This follows a report that the company was in talks with private-equity firms about a buy out. Reuters reported the company had formed a special committee to consider a deal and hired an investment banker as adviser. But in a securities filing, the company says there is no process in place to sell or take the company private. Sprout’s share price rose about 6% after the Reuters report but fell after company’s denial. Shares dropped sharply earlier this month after the company lowered its revenue forecast for the year. 

Also, two new developments in Chicago’s Fulton Market would bring 1,800 apartments to that neighborhood. Listen for more below:

Segment 1: Sarah Foster, Analyst, Bankrate, talks to John about a new Bankrate survey that shows 89% of Americans do not consider themselves financially successful.

Segment 2: Philippe Weiss, President, Seyfarth at Work, tells John how work discrimination lawsuits and damages are twice as likely to result when a manager or company has previously “flip-flopped” on statements made to employees.

Segment 3: Jack Ablin, Chief Investment Officer, Cresset Capital, talks to John about the nice stock market run, why he believes the market may be overvalued right now, the economy being very strong, how many times he expects the Fed to cut rates this year, and where he believes we should be putting our money right now.

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

Uber is launching a new service called Uber Shuttle that’ll provide transportation to and from large venues including airports and concerts. The company confirms Chicago will be on one of initial launch sites along with Charlotte and Pittsburgh. Uber says the shuttles will provide a more affordable ride option and help lower congestion in high traffic areas. Uber Shuttle will operate similarly to a ticketed bus experience. Passengers will be able to reserve a seat in a vehicle that could accommodate as many as 55 people per trip. The example provided showed an Uber Shuttle ride at $15 compared to an UberXL price of about $45.

Also, the next phase of a nearly $6 billion renovation project at O’Hare Airport is underway, but the main portion of construction reportedly won’t begin until the middle of next year. Listen for more below:

Segment 1: Ilyce Glink, owner of Think Glink Media and Best Money Moves, joins John to talk about the top states where Gen Z are moving, one-third of single-family homes for sale in the U.S. in the first quarter being newly built, and the rise of luxury fruit

Segment 2: Jeff Buettner, Managing Director, ButcherJoseph & Co., tells John about how their company advises privately held businesses on ownership succession transactions.

Segment 3: Adam Katz, Global Head of Physical Retail, Wayfair, joins John to talk about the grand opening of Wayfair’s brick and mortar retail store in Wilmette.

Segment 1: Faron Daugs, CFP, Founder and CEO, Harrison Wallace Financial Group, joins John to talk about the market hitting some highs this week, why people are excited to jump into the market right now, why the market broadening is good for investors, the health of the real estate market, and what is next for Fed policy.

Segment 2: Joe Chura, President and Founder, Go Brewing, tells John about their award-winning non-alcoholic craft beer company, the growth of their brand and the NA beer industry in general, why he decided to start a NA beer company, his interesting business backstory, who is drinking their beer, and why he knew the NA market had potential to be big.

Segment 3: Ashley McNamara, Vice President, Apex Order Pickup Solutions, a smart food locker where customers can grab their food order by scanning a code with their phone. Ashley explains where this technology is most used, how this concept is expediting food pick-up, and how business has been the last couple of years.

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

Chicago’s famed Maxwell Street Market will be back in its original location this year. The market will be back on Maxwell Street between Halsted and Union for the 2024 season, which runs from May 26 to Oct. 27. The market happens on the last Sunday of each month except for August. That date has been set for Sept. 1. The market was moved from its original location in 1994 because of the expansion of the University of Illinois Chicago. The market was moved again in 2008 to Desplaines Avenue. Maxwell Street Market began as a Jewish market featuring businesses that were only open on Sundays. 

Also, the Illinois General Assembly has passed a subtle but important change to the state’s biometric privacy law. Listen for more below:

Segment 1: Steven Esposito, President of Yellowstone Wealth Management in Lake Forest, talks to John about the Dow hitting 40K today and other the indices reaching all-time highs, and why he would want to see one or two rate cuts.

Segment 2: Bree Fowler, Senior Writer, CNET, joins John to talk about U.S. officials raising concerns about China’s “misuse of AI,” and a U.S. investor interested in buying TikTok

Segment 3: Mark Denzler, President & CEO, Illinois Manufacturers’ Association, tells John about a newly formed coalition called the Capture Jobs Now initiative and how it would help promote jobs while protecting the environment. Mark also tells John about the health of the manufacturing industry in Illinois.

Segment 4: Annie Coakley, Executive Director, Visit Oak Park, talks to John about all the great things happening in western Cook County this summer!