Chicago News

Business

Chicago's Metropolitan Capital Bank Collapses, Marking First U.S. Bank Failure of 2026

For the second consecutive year, a Chicago-based financial institution has become the nation's first bank to fail. Regulators shuttered Metropolitan Capital Bank & Trust on Friday, citing unsafe practices and depleted capital. The FDIC swiftly arranged for Detroit's First Independence Bank to assume most deposits and assets, ensuring customer funds remain secure.

Feb 2, 2026

Business

Chicago Capital Trims $12.5M Stake in Surgically Focused Robotic Firm PROCEPT BioRobotics

Amid a steep 60% annual share price decline, investment firm Chicago Capital has significantly reduced its position in PROCEPT BioRobotics, a developer of robotic systems for urological surgery, signaling a portfolio risk reassessment.

Feb 2, 2026

Business

Chicago's Metropolitan Capital Bank Fails, Marking Second Consecutive Year of Early U.S. Banking Collapse

For the second year running, a Chicago financial institution has become the nation's first bank failure. Regulators shuttered Metropolitan Capital Bank & Trust on Friday, citing unsafe practices and depleted capital. The FDIC facilitated a swift takeover by Detroit's First Independence Bank, ensuring depositors are protected.

Feb 2, 2026

Business

Chicago's Downtown Core Faces Unprecedented Office Vacancy Crisis, Raising Economic Alarm

Chicago's downtown office vacancy rate soared to a historic 28.2% at the close of 2025, more than double pre-pandemic levels, as remote work trends and business climate concerns drive a 14th consecutive quarter of record vacancies. Analysts warn of a deepening economic spiral with implications for city services and residents.

Feb 2, 2026

Business

Centene's $2.2M Chicago Housing Grant Fuels Debate on Corporate Strategy and Stock Valuation

A major grant from Centene's foundation aims to tackle housing insecurity for justice-involved individuals in Chicago, spotlighting the healthcare giant's community investments as its stock faces persistent headwinds.

Feb 2, 2026

Business

DoubleVerify's Award Nomination Highlights Growing Focus on News Integrity and Brand Safety

DoubleVerify's nomination for a Digiday award spotlights its News Accelerator initiative, a strategic push to bolster quality journalism and advertiser confidence in digital news environments. The move comes as the industry grapples with brand safety and seeks more transparent ad placements.

Jan 30, 2026

Business

Fox News Poll: Democrats Hold Early 6-Point Lead in 2026 Generic Ballot, Fueled by Cost-of-Living Concerns

A new Fox News survey reveals Democrats leading Republicans 52% to 46% in a generic congressional ballot for the 2026 midterms, the highest level of support recorded for either party in this poll series. Voter priorities and sharp partisan divides on key issues shape the early political landscape.

Jan 30, 2026

US

After 14-Year Cold Case, DNA Breakthrough Identifies Man Found Under Chicago Overpass

Forensic genealogy has finally put a name to remains discovered in 2012, closing a long-standing mystery for Illinois authorities and a family.

Feb 2, 2026

US

Fetterman Condemns Doxxing of ICE Agents in Fox News Interview, Warns of Family Targeting

Senator John Fetterman (D-PA) denounced activists seeking to expose the personal information of immigration enforcement personnel, calling the practice dangerous and unacceptable during a Sunday television appearance.

Feb 2, 2026

Business

GameStop Shares Surge on News of Major Acquisition Plan, CEO Cohen Hints at 'Transformational' Deal

GameStop's stock jumped nearly 5% Friday after the company announced plans for a billion-dollar acquisition, described by CEO Ryan Cohen as a potentially 'transformational' move for the retailer and the markets.

Jan 31, 2026

Business

Alphabet's Q4 Earnings Preview: AI Momentum and Lofty Expectations

As Alphabet prepares to report its fourth-quarter results, investors are weighing the company's robust AI-driven growth against a stock that may have already priced in much of the good news.

Feb 2, 2026

Business

Bed Bath & Beyond Doubles Down on Blockchain, Acquires Tokens.com to Build Tokenized Asset Platform

In a strategic pivot, Bed Bath & Beyond acquires Tokens.com, aiming to launch a platform for tokenizing real-world assets like real estate and securities, with shares rising on the news.

Feb 2, 2026

World

Rome Church Angel Restoration Sparks Controversy After Resemblance to PM Meloni Noted

A recent restoration of a church fresco in central Rome has drawn scrutiny and amusement after a national newspaper pointed out the angel's new face bears a striking likeness to Prime Minister Giorgia Meloni, prompting a ministry investigation.

Feb 2, 2026

World

From Across the Border: Iranian Exiles in Turkey Watch Homeland's Turmoil with Fear and Hope

In a cafe in eastern Turkey, Iranian exiles gather, their eyes fixed on news from home. As a new wave of protests meets a severe crackdown, those who fled earlier unrest watch, wait, and voice a desperate mix of anguish, anger, and fragile hope.

Feb 2, 2026

Business

Norfolk Southern Unveils Major East Coast Rail Corridor, Aiming to Unclog Freight Bottlenecks

Norfolk Southern has inaugurated its new 'East Edge' double-stack corridor, a decades-in-the-making infrastructure project linking Chicago to New England. The move is set to bolster intermodal capacity in the Northeast and could sharpen the railroad's competitive edge and investor appeal.

Feb 2, 2026

Business

Sanofi's Pipeline Gains Momentum with Key Phase 3 Successes in Rare Disease and Immunology

Sanofi reports a pivotal Phase 3 win for its investigational therapy venglustat in a rare neurological disorder, alongside positive EU regulatory news for Rezurock and progress for amlitelimab, signaling a strategic shift toward high-value specialty medicines.

Feb 2, 2026

US

Teenage Brothers Trade Classrooms for Frontline ICE Watch in Minneapolis

Sam and Ben Luhmann, homeschooled teenagers from Chicago, have become full-time documentarians of federal immigration operations in Minneapolis, joining a growing wave of citizen observers amid heightened tensions and controversial enforcement tactics.

Feb 2, 2026

Business

Glaukos Gains FDA Label Expansion for iDose TR, But Valuation Questions Loom

Glaukos Corporation's iDose TR glaucoma therapy receives a key FDA labeling update, permitting repeat administration. While the news bolsters the company's growth narrative, analysts are divided on whether its current stock price already reflects future potential amid rich valuation metrics.

Feb 2, 2026

Business

Wheat Futures Retreat at Midday Amid Mixed Market Signals

U.S. wheat futures declined across major exchanges on Friday, with Chicago, Kansas City, and Minneapolis contracts all trading lower. Despite the pullback, export sales data remains robust, running ahead of last year's pace.

Jan 30, 2026

Business

Huntington Ingalls' Naval Legacy on Display as USS John F. Kennedy Begins Sea Trials

The commencement of sea trials for the nuclear-powered aircraft carrier USS John F. Kennedy coincides with the 140th anniversary of its builder, Newport News Shipbuilding, underscoring Huntington Ingalls Industries' entrenched role in U.S. naval defense and its long-term investment profile.

Jan 30, 2026