Economy

Economy

Killeen defers salary program until budget settled

URBANA — For now, most University of Illinois employees won't see their paychecks go up as they start the new school year.

The UI is officially deferring consideration of a general salary program for faculty and staff until after the state budget is settled, President Timothy Killeen said Tuesday.

Rantoul company foresaw Mitsubishi closing

RANTOUL — Employees at a Rantoul manufacturer that makes auto parts for Mitsubishi Motors aren't panicking over news the company plans to sell or close its plant in Normal.

That's because Eagle Wings Inc. officials thought it might come to this several years ago and took action.

Jobs picture looking brighter

Unemployment figures for June, released Thursday by the state, painted a pretty picture for the area's jobs scene:

The last time the Champaign-Urbana area's rate was lower for June than it was in June 2015 was 2007. The new rate — 4.9 percent — was down from 6.2 percent a year earlier.

Applications for U.S. unemployment aid plummet to 42-year low

CHRISTOPHER S. RUGABER, AP Economics Writer

Atwood shifts attention on telepharmacy

ATWOOD — A development official in Atwood hopes the community will be home to a Sav-Mor Pharmacy in about six months. The fact that Sav-Mor does not require local funding has prompted Atwood officials to switch from an effort to attract TelePharm to one that could bring in a Sav-Mor.

University of California raising minimum wage to $15 an hour

LISA LEFF, Associated Press

Family Checkbook: myRA expands retirement savings options

By Kathy Sweedler 

Security in retirement is a common financial goal. And, while it's important to us individually, it's also important for our nation as a whole. Since Social Security benefits began in 1937, the U.S. government has had a vested interest in people's retirement finances.

'Quiet phase' already underway for major UI fund drive

URBANA — Dozens of new fundraising professionals on campus are gearing up for a major campaign that will coincide with the University of Illinois' 150th anniversary.

The Urbana campus hopes to raise hundreds of millions of dollars over the next decade to support faculty endowments, student scholarships, state-of-the-art labs and other needs.

If the Fed raises interest rates, what's your move?

It's no longer a matter of if, but when. The interest rate on everything from credit cards to adjustable-rate mortgages could soon be headed higher.

Greek bailout takes two leaps forward

GEIR MOULSON, Associated Press
ELENA BECATOROS, Associated Press