Economy

Economy

A developing situation in northwest Champaign: 'We will see changes'

CHAMPAIGN — When the Clearview development was announced for the city's northwest side, The Atkins Group hoped to have a new medical campus and homes built by 2008.

Champaign County home sales up slightly in June over 2017

CHAMPAIGN — Slightly more homes were sold in Champaign County this June compared with a year ago.

According to the latest report from the Champaign County Association of Realtors, 391 homes were sold, up 1.82 percent from the 384 that were sold in June 2017.

Association President Max McComb said the housing market has been busy this summer.

Japan's Abe: Auto tariffs will cost U.S. jobs, harm economy

TOKYO (AP) — Japan's Prime Minister Shinzo Abe warned the U.S. on Friday that higher tariffs on auto imports would backfire and harm not only America's jobs and economy but also devastate the global economy.

Trump ups tariff threat, slams Fed and big U.S. trading partners

President Donald Trump has indicated that he's willing to hit every product imported from China with tariffs and again criticized the Federal Reserve, as well as some of the nation's biggest trading partners.

The comments sent U.S. markets sliding early Friday.

Investor frenzy in S. Korea over Russia treasure ship rumors

SEOUL, South Korea (AP) — A South Korean company's claim to have found a sunken Russian warship has triggered investor frenzy amid speculation the ship was carrying an enormous amount of gold when it sank 113 years ago. South Korea's financial regulator subsequently issued a warning against possible investment losses.

Entertainment listings, July 19-26, 2018

EVENTS

This weekend

FARMER CITY/DeWITT COUNTY FAIR

Morgan Stanley's 2nd-quarter profits jump 39%

NEW YORK (AP) — Investment bank Morgan Stanley said its second-quarter profits rose by 39 percent from a year ago, driven by another strong performance in trading and investment banking, as well as a lower tax bill.

Housing starts tumble 12.3% in June

WASHINGTON (AP) — U.S. homebuilders sharply curtailed the pace of construction in June as housing starts plummeted 12.3 percent.

The Commerce Department said Wednesday that housing starts fell to a seasonally adjusted annual rate of 1.17 million from 1.34 million in May. June's pace of construction was the lowest since September 2017.

El Charro being replaced by 7-story apartment building

Restaurant questions? Ask Tom Kacich here

CHAMPAIGN — Developer Chris Saunders bought the site of a former Mexican restaurant and grocery store in Campustown and plans to turn it into a seven-story apartment building.

Former Champaign Elks Lodge to be turned into apartments

CHAMPAIGN — Green Street Realty plans to convert the former Elks Lodge in downtown Champaign to apartments.

Now used by Rosecrance as a residential treatment facility, Green Street Realty owner Chris Saunders said the building at 122 W. Hill St. will house 26 one- and two-bedroom apartments.