Category: Business

Chicago to host G8, NATO summits in 2012

by Ted Regencia, posted in Business, Politics

Xinhua English
June 23, 2011

By Ted Regencia

CHICAGO — Chicago, the hometown of U.S. President Barack Obama, will welcome world leaders to this city by the lake as it will host the Group of Eight (G8) and NATO summits next year.

“Next May, in Chicago, we will host a summit with our NATO allies and partners to shape the next phase of this transition,” Obama said Wednesday in a televised speech to the nation announcing the complete withdrawal of 100,000 American combat troops from Afghanistan by 2014.

The two events from May 15 to 22 will put Chicago on the international stage, as the world’s most powerful nations meet together to discuss the future of Afghanistan, NATO and the Middle East among other global issues.

The news is a major boost to the third largest American city, which lost its bid to host the 2016 Olympics and has seen a decline in the number of tourists last year.

To read the full story, please visit Xinhua English

Illinois governor to address CME threat to leave Chicago

by Ted Regencia, posted in Business

Xinhua English
June 11, 2011

By Ted Regencia

CHICAGO — Illinois Governor Pat Quinn vowed Thursday to address the concerns of the Chicago Mercantile Exchange (CME), following reports that the world’s largest options and futures market is considering moving some of its operations out of Chicago over the issue of higher corporate taxes.

“I really believe that the best place for these markets is right here in Illinois,” said Quinn during an event promoting the state’s bio-technology innovation. “I’m sure we can work together. If somebody has a particular issue, or concern, or interest in something, we sit down with them and work it out.”

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United Airlines to expand operations, increase 1,300 jobs at home

by Ted Regencia, posted in Business

Xinhua English
June 11, 2011

By Ted Regencia

CHICAGO — The United Airlines will expand its operations and increase 1,300 new jobs in its domestic services, local officials said.

“I’m most pleased with this because Chicago is an aviation leader,” said Rahm Emanuel, new mayor of Chicago, in an appearance with United Airlines President and CEO Jeff Smisek at the airlines’ new headquarters at Willis (formerly Sears) Tower.

“It (Chicago) is one of the most important cities in the world and in the area of aviation, which is a growing sector in this country and growing sector in the world,” said Emanuel, who vowed to keep Chicago’s position as a global aviation hub.

To read the full story, please visit Xinhua English