The Institute for Legal Reform (ILR), a division of the U.S. Chamber of Commerce, recently published a report detailing the rise in commercial tort costs from 2020 to 2021. The report, released in December 2023, found that these costs escalated from $291 billion in 2020 to $347 billion in 2021.

Californians who have their auto insurance with Allstate and State Farm will face substantial increases in their rates beginning in February. Allstate's rates are set to rise by 30%, while those of State Farm will go up by 21%.

President Biden has renominated acting Secretary of Labor Julie Su, despite disapproval from Democrats over Su's progressive background in California. The White House released the list of Biden's nominations to be sent to the Senate for approval or rejection on January 8, 2024.

The US Bureau of Labor Statistics (BLS) has disclosed a 7.5% increase in nonfatal workplace injuries and illnesses in the private industry for 2021-2022, amounting to 2.8 million cases. Illnesses surged by 26.1 percent, while injuries rose by 4.5 percent.

Bank of America's Homebuyer Insights Report indicates a shift in the preferences of prospective homebuyers. The report shows that 62% of individuals are currently willing to wait for prices and/or rates to fall before purchasing a home. This marks a decrease from the 85% reported just six months ago.

Some Illinois residents that reside or have a business in Cook County qualify for tax relief following a disaster declaration from the Federal Emergency Management Agency. This relief, initiated by a federal order, is set to provide specific assistance measures for both individual taxpayers and businesses affected by the disaster.

CME Group has announced a milestone with open interest in its highly liquid U.S. Treasury futures reaching a new peak of 21,428,757 contracts. These U.S. Treasury futures, benefiting from margin offsets against CME Group's existing Interest Rate products, adhere to the rules of CBOT and are listed accordingly. This significant achievement marks a major development in the financial markets.

Wells Fargo announced its intentions to enhance its office presence at Hudson Yards, aiming to foster a more collaborative and improved employee experience by acquiring additional space. The bank's plans will be carried out in collaboration with the developers of Hudson Yards and the Related Companies, with an expected completion within three years.

The Urban Institute says that State government tax revenue collections experienced a nominal decline of 12.8 percent and a real decline of 15.7 percent in the second quarter of 2023 compared to the same period the previous year. This downward trend is largely attributed to economic fluctuations and policy changes triggered by the COVID-19 pandemic.

Wells Fargo announced the Wells Fargo Foundation in providing a $750,000 grant to establish the Team Rubicon TRades Academy. The TRades Academy initiative aims to equip individuals with trade skills, such as contracting, electric, plumbing, and HVAC, for application in various communities, particularly in the aftermath of natural disasters, according to a press release by Wells Fargo.

U.S. Rep. Adriano Espaillat (D-NY) has honored Flying Food Group for donating book bags and laptop computers to 500 students in East Harlem.

Coinbase, a leading cryptocurrency exchange, has solidified its position in Spain by obtaining an Anti-Money Laundering (AML) registration from the Bank of Spain. The company announced this development at the European Blockchain Convention held in Barcelona. "Our foothold in Spain comes as part of a series of developments across Europe," said Coinbase.

In 1983, Sue Gin, a real estate developer and bakery owner in Chicago, was on a Midway Airlines flight when the stewardess delivered an unsavory breakfast that was nothing more than a half-frozen sweet roll.

Wells Fargo & Company has announced that its personalized digital platform, LifeSync®, is now available to all consumer customers. Initially introduced to Wealth & Investment Management (WIM) clients earlier this year, LifeSync® can now be accessed through the Wells Fargo Mobile® app, according to a press release by Wells Fargo.

Visa has announced the formation of the Advisory Council for the Visa Economic Empowerment Institute, a platform that will focus on conducting original research and facilitating public-private discussions on payments and public policy. According to a press release by Visa, the founding members of the council are Dr. Axel Weber, Lord Jonathan Hill, and Ambassador Koji Tsuruoka.

JPMorgan Chase & Co. is marking its 90th anniversary of service in Detroit and the 10th anniversary of its commitment to support the city's economic recovery. The bank has pledged over $200 million to aid in the revitalization of Detroit, with a particular focus on skills training and job creation.

A retired Andover, Kan. woman is questioning why U.S. Sen. Roger Marshall (R-KS) would “team up with Dick Durbin” to sponsor a measure that she said could threaten the cash-back incentives provided by her credit cards.

The airline catering company Flying Food Group (FFG, recently developed a comprehensive healthcare plan with better benefits than those offered by UNITE HERE!, but the union has prohibited FFG from making the plan available to its employees, FFG Los Angeles Airline Facility (LAI) General Manager Lucy Osoro said.

JPMorgan Chase recently revealed a commitment of $2 million in philanthropic funding to nonprofit organizations focused on aiding underserved small businesses in Detroit.

Housing costs now account for a third of the average American's budget as inflation continues to impact the economy, according to a MarketWatch article published on Feb. 17.